...Case study An analysis of 3M, the innovation company Introduction Any review of the literature on new product development and innovation management will uncover numerous references to 3M. The organisation is synonymous with innovation and has been described as ‘a smooth running innovation machine’ (Mitchell, 1989). Year after year 3M is celebrated in the Fortune 500 rankings as the ‘most respected company’ and the ‘most innovative company’. Management gurus from Peter Drucker to Tom Peters continually refer to the company as a shining example of an innovative company. This case study takes a look at the company behind some of the most famous brands in the marketplace, including Post-it® Notes. It examines the company’s heritage and shows how it has arrived at this enviable position. Furthermore, the case study attempts to clarify what it is that makes 3M stand out from other organisations. Background Originally known as the Minnesota Mining and Manufacturing Company, with its headquarters in St Paul, Minnesota, 3M was established in 1902 to mine abrasive minerals for the production of a single product, sandpaper. From these inauspicious beginnings, the company has grown organically, concentrating on the internal development of new products in a variety of different industries. The latest review of the company’s position reveals that it manufactures over 60,000 products, has operations in 61 countries, employs 75,000 people and has achieved an average year-on-year growth...
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...Running head: INNOVATION LEADERSHIP Innovation Leadership Russell L. Dykes Bellevue University Abstract Innovation leadership is all about facilitating and empowering others in order to help their creativity thrive. In order to be a leader of innovation, the manager must facilitate the innovation of others by providing the space, equipment, networks, partnerships, and environment that allows their creativity to flourish. The innovation leader must toward establishing a culture of innovation realizing that innovation work requires a team. Innovation cannot be conceived, developed, and delivered by just a single individual. Innovation Leadership Contrary to the beliefs of some, innovation leadership is not project management. Neither are the processes of innovation leadership the same as those of being an inventor. Innovation leadership is about creating the context and environment for innovation to occur. This involves creating and implementing the roles, physical space, partnerships, networks, decision-making structures, and equipment needed to support innovative thinking. Innovative leadership is not about being the one with the best and brightest ideas. Rather, it is about facilitating and empowering others in order to help their creativity thrive (Malloch & Porter-O’Grady, 2009). Quantum leadership can tolerate uncertainty and disorder, and can create a flexible structure based on self-organizing. Creative disorder brings...
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...Giant Warrick L. Farr MGT-330 09-01-2011 Professor Alice Nworah Halliburton the Energy Giant Halliburton has proven that it wants to stay in business for many years. Since the inception of the company in 1919, Halliburton has spent billions on new technologies. According to Halliburton (2011), “in 2009, Halliburton spent approximately 349 million dollars on technology research and development. The result from this technology granted Halliburton with 219 patents in 2009 alone. Halliburton currently has technology centers located in Belgium, Canada, Singapore, United States, and the United Kingdom. According to (2011), “Halliburton recently opened a new technology center in April 2011, at the Federal University of Rio De Janeiro. Innovation is what sets Halliburton apart from its competitors”. This center will provide solutions that they can implement to accelerate deepwater field development and continue enhancing production from the mature oil fields. Management has also paved the way to introduce these new technologies into the college campus in Houston, Texas. Halliburton has established a program named Camp Red, which is an elective course at the University of Houston. This course is worth three credit hours to primarily senior level engineering technology students. This program is comprised of a five day camp of 23 students and three professors. The week included projects that challenged the student’s technical and creative skills, along the tours of rigs. At...
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...relationship between Innovation, Entrepreneurship and Economical development. Well, in my view the relationship between these terms can only be explained thru a virtue circle. All of these 3 terms rely on each other if for example you reduce tax rate the government will get more tax going in because more companies would want to move to that country with a low tax rate => increase in infrastructure which will stimulate even more companies to move over, which will stimulate the economical development to increase this all was proven by Ronald Reagan. How do you stimulate innovation? Well, there are many ways to stimulate innovation: 1. Education: thru education you can stimulate young minds to innovate create new creative ideas. 2. Subsidies/funds: For example Israel grants a huge sum of money to whoever wants to start their own business, when the company is doing well the Israeli government sells their shares with profit. 3. Infrastructure: This is probably one of the most important factors, these are for example railways, airports, ports,... All these are required for innovation and entrepreneurship. For example, China has been investing allot into its high speed trains this will stimulate Entrepreneurship and innovation. 1....
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...Naturocare: Our Mission: Establish Naturocare as a natural, technology based, problem solving brand of hair care, devised from nature’s goodness and characterised by our consumers as reliable and a healthier alternative. Quality and consumer safety is the responsibility of every Naturocare employee and we demonstrate visible and consistent leadership to meet this policy. The thousands of men and women who have built up the group across the country have made this their personal mission statement. They use their intelligence and creativity, their innovative ability and all their expertise to further the cause of hair care. None of this would be possible without Naturocare’s deep respect for human beings, and without its genuine commitment to a sustainable environment. Strengthened by these values, and convinced that the quest for beautiful hair has always been a major challenge for women and men Naturocare’s teams continue daily to push forward the frontiers of their profession. Our SMART goal: Naturocare aims to have a market share of 17.5 % which is to be attained by 2015. Company profile: Naturocare was founded in 1971 by Dr Jagath PK with a clear vision to bring natural hair care products in a contemporary form in order to spread the knowledge and wealth that nature has to offer. This included referring to ayurvedic texts, selecting indigenous herbs and subjecting them to modern toxicological and safety procedures to create new hair care products. Naturocare is...
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...Innovation- L’Oreal. INTRODUCTION In this essay I will propose an innovation audit for the cosmetic company L’Oreal. I will be acting as an innovation consultant and develop a proposal for conducting an innovation audit for the company. I will focus on the SWOT analysis of the company and analyse L’Oreal’s strengths, weaknesses, opportunities and threats. Then I will design a framework for conducting the innovation audit. My framework will relate to the company’s business activities and vision. The framework will also address the SWOT analysis that I have presented. I will then provide a description of my proposed research strategy , such as what type of data I will collect and how I will go about doing so. Then I will provide an outline of the key outputs that would arise from the innovation audit in the context of the proposed framework that I have provided. DESCRIPTION OF THE COMPANY For more than a century, L’Oreal has devoted itself solely to one business: beauty. L’Oreal(2012) The L’Oreal Group is the world's largest cosmetics and beauty company.(Jones, David 2010) L’Oreal has developed activities in the field of cosmetics. Concentrating on hair colour, skin care, sun protection, make-up, perfumes and hair care, the company is active in the dermatological, tissue engineering and pharmaceutical fields.L’Oreal has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety. It pursues this...
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...1: their business strategy is reach out to its worldwide customer base, and they have to use distributed development strategy. The relationship of collaboration and innovation is ensuring that everyone, from the people that work for the company, to include the management, to the suppliers, is involved somehow in their ultimate goal which is provide quality goods for their consumer base. This will also enable them to stay competitive in the market. 2：P & G took a close look at what they needed. They were interested in something that would support their systems that were based primarily on Microsoft systems. They wanted collaboration systems that would be easily adapted to by their employees. They wanted a system that would bring “real-time collaboration services, including calendars, schedules, workflow, virtual meeting sites, instant messaging, and virtual conferencing”. Their main system that they adopted, Teamcenter, gave them just that. It was easy to adopt, it was cost effective, and it supported the Microsoft-based IT infrastructure that they operated off of. It also provided them with the form of visual collaboration that they desired, CAD-neutral format. The Teamcenter system gives the user a “customized view” of product information. It lets the user, such as the suppliers and employees, see their work in whatever format suits them, even the CAD-format content such as graphs. It also lets them share this information across the world, bridging geographical and time...
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...and IBM. The course will be largely case-based covering a range of industries from software development (Activision) to automotive (GM) but also include some hands on exercises and a group simulation. This course offers a general management view of product creation by exploring frameworks and case examples from a wide range of industries. It should serve students well who seek a career in a corporate environment or as a consultant serving large corporations. Broadly, the course will examine the key processes in corporate product creation including: Product Creation Leadership Product Idea Generation Technology Capabilities Product Creation Process Design The Competitive Product Portfolio People and Project Management Innovation Partnerships In addition to exploring the general processes of corporate product creation, students will conduct research supported by executive interviews to compare and contrast differences across industries such as: STRATEGIC PRODUCT CREATION Second Term 2007 Consumer Packaged Goods Durable Consumer Products Industrial Equipment High Tech...
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...Dell…………………………17 12.0 Conclusion…………………………………………………………………..18 Bibliography………………………………………………………………………....19 Appendix…………………………………………………………………………….21 Overview of Industry Life Cycle Industry Life Cycle (ILC) is the stages of evolution through which an industry progresses as it moves from conception to stabilization and stagnation. Different analyses posit different stages of an industry life cycle (usually four to five), but all emphasize that an industry has a beginning, with technological innovation; a period of rapid growth; maturity and consolidation; and finally decline and possibly death. Industry dynamic impacts firm strategy and survival, and it is important to managers understanding that whether firm should compete or cooperate at different stages of the industry life cycle (Wilson & Hynes, 2009). One of the main tenets of how firms and industries evolve is that, as some businesses mature, the basis of competition shifts from product innovation to process innovation (Utterback and Abernathy 1975; Utterback and Suarez 1993; Utterback 1994; Klepper 1996, 1997; Adner and Levinthal 2001). Although the ILC is important, some firms denied that all stages are crucial to them. Thus, the following part would discuss about literature review of ILC in Technology...
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...operation. Research and development also leads to innovations intended for these products and services. In generating high impact innovations, it is important that the organization should devise a systematic method of identifying opportunities that provide new value for the consumers (Johnston and Bate, 2003). The changing consumer preference was an opportunity that is exploited through innovation (Paley, 2006). As such, a company must be able to introduce new brand concepts, strengthen design capability and enrich product offering continuously. Improvement of quality is therefore critical in the aspect of innovation as this could highly impact customer satisfaction. Further, innovation also means to tolerate internal processes especially those that will contribute to the growth of the company (Johnson and Scholes, 2002). Customer service is one of these internal processes which purport external audience. For instance, listening to the voice of consumer (VOC) is one critical factor of customer servicing wherein the feedback of the customers are given its deserved value. These feedbacks from the customers are also used to inform research and development regarding their changing preferences, expectations and needs from the company. In this study, how research and development or simply innovation affects customer service and quality. 2.0 Problem Statement The problem that will be addressed in this study is how innovation impacts customer service and quality. Specifically...
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...Senyo | | |University of Ghana | | |kpsenyo@gmail.com | | INTRODUCTION Technological advancement has caught up with us in the developing world and there is a need to rapidly change and focus on how best we can make optimum use of this opportunity. Payment for goods and services have been simplified and expedited by the introduction of new technological innovations. Statistics from the World Payment Report (2011) indicates there is a global increase in the volume of non-cash payments transactions by 5% in 2009 to 260 billion in 2011. The payment for goods and services in Ghana is mostly cash based and characterized by long queues and delays. A study by Abor (2004) pointed out that, before the introduction of electronic payment in Ghana customers will have to go to their banks to perform all transaction and with the long queues in most of our banks, payment became a problem. Heeks (2002) described information system in developing economies like Ghana as questionable and coupled with different challenges. However, Boateng (2011) implied that, the government of Ghana has made significant strives to...
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...edition of Aakash as an academic aid for Native indian learners. He had also reiterated in the Lok Sabha that the govt is operating on an enhanced item after the first one turned out to be a wet squib due to low power supply lifespan and slowly processer speed. An email question to the minister's office on position of Aakash 2 stayed un answered. But authorities operating on the venture informed ET on the situation of privacy that the pills and associated applications are being examined at the Native indian Institution of Technological innovation in Mumbai. Amidst much excitement, Sibal had first discussed the item truly. The plan then was to make a cheap laptop available to academic institutions by Jan 2011, but that was not to be as HCL Infosystems, the company that had been shortened to produce, supported out. Consequently, in Feb, the govt chosen Canada-based Datawind for the $35-tablet venture. Indian Institution for Technological innovation, Rajasthan, was required to design the features and obtain the pills, which were to be constructed in Indian by Datawind. For its part, Datawind released a professional edition of the item called Ubislate-I this year, and then did not provide Aakash on time, resulting in much issue. "Many individuals befuddle Ubislate with Aakash, as it provides the same requirements and is created by the same source....
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...Article Review Managing the New Product Development process: Strategic Imperatives Aditi Rana Ankita Khaniya Ashish Silwal Sujal Dhungana Managing Operations and Technology, MBA Term II Arjun Shrestha February 24, 2013 Background: Published by “Academy of Management”, Melissa A. Schilling and Charles W. L. Hill have co-authored the article is “Managing the New Product Development process: Strategic Imperatives”. This article has been extracted from “The Academy of Management Executive (1993-2005), Vol. 12, No. 3 (Aug., 1998), pp. 67-81”. “Managing the new product development process: Strategic imperatives” explores into the new product development (NPD) process and the strategies involved with it. Unprecedented importance goes into the study and implementation of the NPD process by various departments of businesses, and it has become a key driver of competition between firms in majority of industries. Researchers have tried to conclude on strategies that could be key to enhance the NPD process. Two major factors have been found to go into consideration for the creation of those strategies: maximizing the fit of products/services with customer needs, and, minimizing the lead-time to the market. Although it may appear that these two factors might create conflicting mandates in a business; researchers have increasingly found indications that businesses may employ...
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...Organizational Impact Paper Raul Vargas Jr. OI/361 The rapid technological changes and global forces are sending a very clear message to every business organization: Innovate or dye. Organizational structures can easily hinder or foster innovation. Potential pitfalls can derive as a result of deeper factors embedded in a firm’s organizational DNA. Without a doubt, innovation is the key driver of value creation if companies want to remain on the competitive edge. Although there is no perfect organizational structure for every innovation environment, different types of organizations work successfully under different circumstances. Three different types of organizational structures will be in discussion: the functional, divisional, and the matrix structure as well as the potential impact that innovation can bring on strategy, process, product or services within each organizational structure. The functional structure is built on a strong hierarchy in which each employee’s position and function are clearly defined with a specific role to perform. This structure is the most formal and bureaucratic because it follows a strict chain of command. Among the different types of organizational structures, a functional structure works very well in organizations that do not change their work functions and methods frequently. However, large organizations with this structure demands for a very powerful management for internal conflicts resolution, and issues...
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...I believe that HP has the advantage because they have been making servers as well as improving them. HP is integrating new ProCurve networking technologies with its Blade Systems platform in the latest move in its competition with Cisco in the converged data center space. Analysts have said that HP’s expertise in both networking and the data center gives HP an opportunity to make inroads against such rivals as Cisco and IBM. Hewlett-Packard is ramping up the competition with Cisco Systems, IBM, Dell and others in the burgeoning converged data center space by integrated its ProCurve networking technology with its Blade Systems blade server platform. Strength: HP engineers have been working to more closely tie the company’s substantial data center hardware offerings with its increasingly competitive networking products. The integration of the two is a key step in bringing solutions into the unified data center fray, according to Matt Zanner, director of data center solutions at HP ProCurve. Zanner said the blade switches are designed to help drive down capital and operating expenses, as well as power consumption. HP has an advantage over Cisco in the converged data center push in that it not only has the growing networking business, but also the established server and storage offerings, Yankee Group analyst Zeus Kerravala said in an interview. Kerravala said. “HP has a real opportunity ahead of them. They have all the data center components. They can pretty quickly...
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