...Team Activity - Innovation Strategy Cynthia Anderson, Irene Lee, Cyanne Lujan, Gina Silva SRT/581 October 19, 2015 Tom Greco Learning Team Activity - Innovation Strategy Apple Inc. has been well known for their innovations globally for several years with products and well known innovative business models. Apple not only is well known for their innovations but also in pioneering into new business spaces and creating new market niches where there were none. Apple created new market niches such as the IPOd, IPhone, IPAD, and ITunes. This paper will discuss Apple’s innovative strategies such as platforms, pipelines, and the relentless use of competitiveness amongst its employees. Apple has always had high state of innovation as seen by its unique way to innovate new products. Steve Wozniak, cofounder of Apple, stated it best by saying it is actually about making sure all aspects of the product work well together, while ensuring that anyone can understand how to use a given devise (Eadicicco, 2015). This is the philosophy of Apple to ensure consumers the products are easy to use, works well, does not confuse or lose the consumer. One of the most important concepts utilized by Apple is the hedgehog concept. This strategic concept is also known as the “sweet spot” where passion and strengths intersect with economic opportunity. Love is the strongest motivating force (Strategy-Keys.com, 2014). As mentioned in Strategy-Keys.com (2014), when your passions...
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...NP Solutions, LLC changes in the market or technology environments. In this paper, we present four idealized case studies, representing one view of innovation strategy types. These were first described by Raymond Miles and Charles Snow in 1978 Miles & Snow’s structures, response characterization and to in changes (1) THE ENTREPENEURIAL PROBLEM As with any strategy assessment, a choice must be made regarding the market arena, the technology, and the products or services to be offered. Miles & Snow identify this as “The In short, how . Despite the intervening thirty or so years, of in management management’s particular Entrepreneurial Problem.” should the company manage share? it market technology or markets, remains as a dominant theory for Innovation Strategy. Many other papers have evaluated Miles & Snow strategy typologies (2) (3) (4) , yet few In NPD terms, we would say that The Entrepreneurial Problem should be addressed is Stages 1 and 2, or the Fuzzy Front End, such that we have identified a clear and present market need for our new product, service, or program. authors have specifically address how each would approach and implement the New Product Development (NPD) Process. After a brief introduction of each of the four Miles & Snow strategy types, we will describe how each firm would approach an NPD effort by utilizing its inherent management view. THE ENGINEERING PROBLEM It’s often said that invention is the realization...
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...Innovation Strategy Development Part 1&2 When the need of wanting to be different arises, the need to innovate takes a strong hold in one’s mind to bring about new changes that are often challenged in many different styles, manner, methods and modes. To my understanding different types of innovations requires and employs different innovative strategy or strategies. Which in turn determines the growth phase of the organization and its strategic approach and desired outcome of the innovation. Developing an Innovation Strategy Frame Work The Innovative ideas and strategy plans and developments can only take valuable shape and growth with the right leadership and driving force. Therefore with the discussions developed and generated, I have come to an understanding that successful innovation strategy is determined by the true leadership of an innovative leader with an innovative mindset who wants to achieve success for his organization, employees and himself. Instead of being comfortable and clustering around a few achieved strategies, a successful innovative leader begins by setting high targets and aspirations for the organization. Followed by recruiting qualified candidates and instilling tremendous positive energy, spirit and enthusiasm in the work environment. Although this may be good, but it is certainly not good enough to stay or sustain the many challenges and surprises that lies ahead in the ever changing and demanding industry. Therefore an innovative leader should...
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...An innovative organization engages everyone throughout the organization in the task of developing and implementing new ways to reach the organization's goals. (Behn, 1995) For organizations to build leadership strength, they first need to know what elements of leadership are needed and valued in the organization and for what roles. (Leslie, J. 2009) The two skills I feel are necessary for the success of innovation and the formation of a successful innovative organization is Strategic Planning and Leading People. Within the initial creation of an innovation and innovator must have a strategic plan set to meet small goals in order to obtain or create that unique innovation. A strategic plan is a document used to communicate with the organization the organization’s goals, the actions needed to achieve those goals and all of the other critical elements developed during the planning exercise. (Leslie, J. 2009) Strategic planning – translating vision into realistic business strategies, including long-term objectives. The entirety of any organization's innovation work is situated in its broadly construed strategic strategic plan. Managers who are highly competent in this area typically articulate long-term objectives and strategies, develop plans that balance] long-term goals with immediate needs, update plans to reflect changing circumstances, and develop plans that contain contingencies for future changes (Leslie, J. 2009) Leading people is another leadership practice expressed in...
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...r Kudler’s Strategy Paper MMPBL/502 March 21, 2011 School of Business Kudler Strategy Paper Kudler Fine Foods a very dynamic, and innovative gourmet food store, is on a journey to be the best gourmet store there is. Apart of Kudler’s mission is “to provide our customers with the finest in selected foodstuffs, wines, and related needs in an unparallel consumer environment” (Kudler Fine Foods, 2009, pg. 1). With this in mind, Kudler will need continuous development, and strategy building techniques as a part of their operation. In this paper the subjects to discuss are, the impact that technology has brought upon the company, and how much these impacts have become opportunities. As the company strives for the best, the intended strategy, and tactics used will be discussed. In order to maintain these strategies and tactics, managers will need to find the means, by which they will maintain, develop, and execute these strategies. Technology and business opportunities Technology has advanced our way of life in such a way that one cannot do without it, as it has changed the way we execute situations and problems alike. All over the world, people use technology to enhance their surroundings. It was also seen where “Japanese who carry phones serviced by NTT Docomo, Japan's dominant cell phone carrier, can opt to have alerts about earthquakes pushed directly to their phones “(Mims, 2011). Japan and many countries use technology as a means to solve numerous problems...
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...Assess and critically comment on the idea that strategic planning systems can stifle innovative thinking in organisations It is debatable whether strategic planning systems can stifle innovative thinking in organisations. Although strategic planning systems are used in order to make companies work more efficiently, they may restrict organisations from showing their true potential by stifling innovative thinking. There are other theorists that state that listening to closely to markets and strategies can create a barrier to commercialising new technology and lead to reduced competitiveness. (Ferrell and Lukas 2000). In order to truly understand and analyse whether innovative thinking is being constrained by strategic planning systems, it is essential to understand which strategic planning systems are being used, whether their implementation limits the allowance to new and different approaches to organisations, and whether companies in real-life are being affected by this constraint. Before analysing whether innovative thinking is oppressed by strategic planning systems, it is important to define what a strategic planning system is. According to the BNET Business Dictionary (2007), strategic analysis is ‘…the process of conducting research on the business environment within which an organisation operates and on the organisation itself, in order to formulate strategy’. There are many different tools and analytical methods that are used by companies but there are three main...
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... innovation turned out to be increasingly important to success. It means that innovation and strategy is converging to help in productivity. Innovation has the potential to change the agents within an organization to become better entrepreneurs to meet various challenges. Strategic thinking is crucial in creating a coherent, integrative and unifying framework for making decisions particular regarding the direction in which an organization goes and the resources it plans to utilize (Goldsmith, 2009). In some way, strategic thinking utilizes external and internal data, perceptions and opinions. It is proactive, conscious and explicit while defining competitive realm for strategic advantage in the organization. Strategies are formed to improve the performance of an organization which means that the company will have to conduct something unique and different compared to that of the competitors. Whenever an organization develops a new strategy, it means that they are establishing change whether it is innovative or incremental. It means that managing to execute a strategy involves managing change. The business landscape of today is characterized by escalating diverse environments whereby some organizations operate in stable environments while others in environments that are not stable. This is the reason organizations needs to create a strong relationship between strategy and innovation to...
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...“Strategy articulates the firm’s preferred environment and the type of organisations it is striving to become.” – Hiroyuki Itami. Discuss why an understanding of strategy and strategic management is fundamental to an organisations success. There is no one specific and definitive meaning to the word strategy. You would generally consider strategy to be the process involved in setting goals and objectives and then, ultimately the way's of achieving these goals through the designated and limited resources. Strategy describes how a firm will achieve their goals using the necessary resources. The firms Strategy will generally be established by the leaders in an organisation. Strategy can be intentional or emergent. Mc Keown argued that strategy is about shaping the future. Mintzberg thinks its a pattern in a stream of decisions. They both think strategy is a very important part of any firm and what the firm is striving to be. The key steps in planning a strategy is usually coordinated by the top management. This involve Mintzberg's 5 P's for strategy: The consist of…. A plan, A pattern, A position, A prospective, A ploy. Plan, Strategy is a plan, usually an intended course of action, a way to deal with a situation. By this definition, strategies have two essential characteristics, they are made in advance of the actions to which they apply, and they are developed consciously and purposefully. Ploy Like plan, a strategy can be a ploy too, its really just a specific manoeuvre...
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...results in a “poor man’s” version of the real thing, like online training courses that consist of nothing more than a video recording of an instructor followed by a test. Instead, companies need to be much smarter about how they conduct virtual off-sites. They need to leverage online’s unique characteristics to push beyond what’s possible in a physical setting and truly transform the process. Interviews with dozens of experts resulted in the following methodology, dubbed the virt-site, to vastly improve the process and obtain honest feedback, invaluable pushback and, eventually, true buy-in from the entire organization. To begin, consider why companies have strategic off-sites in the first place. The overall goal is to figure out the best strategy for a business, a process that can be broken into four major steps, each of which can be performed better in a virtual...
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...competencies, which affect the success of the company. Slide 3 [pic] Strategy of Sony Ericsson is to increase the internal growth with developing new products and technologies. Strategy is a plan for future development of organization, where the long-term goals are successfully achieved by structured decisions (Johnson et al, 2011). Sony Ericson strategy plan did not work, due to lack of understanding customer desires and preferences. To achieve organizational goals management has to develop the customer relationships. Slide 4 [pic] The Sony Ericsson company sees itself as a global brand accessible to everyone. All individuals can be heard. Company has a commitment to develop new communication products, which are accessible to everyone including and individuals with special needs. Sony Ericsson did not follow its commitment, due to lack of information of user desires, which have to be in centered design. The purpose of mission statement is to exceed customer’s expectations. Sony Ericson must deliver benefits and values to individuals. For example delivery channels are efficiency construct to make purchasing of goods easier and comfortable to customers. Slide 5 [pic] The values of Sony Ericsson Company are respect, professionalism and integrating communications and entertainments in one. Sony Ericsson produces mobile communication using powerful innovative technology. When inspiring individuals to use applications such as music,...
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...Joanna Nowicka-Jakubczyk EMBA XVII edition Whirlpool Corporation’s Global Strategy - Case Report As many American based companies, Whirlpool Corporation after building strong position and success in North America, decided to “go international” and start its global expansion. The main Whirlpool’s objective was becoming the world market leader in home appliances, in what CEO of Whirlpool – David Whitwam strongly believed. Whitwam’s “go global” strategy plan was based on: * entering different markets, European, Asian, South American in parallel; * acquisitions of competitive appliance companies, i.e Philips, Indian companies; * creating joint ventures in targeted markets, like China; * new investments, mainly in South America. Despite great initial enthusiasm and proofs, that their strategy was successful, in the mid-1990s, serious problems had occurred in Whirlpool’s international operations, for instance significantly decreased profitability, also on home market, reported losses in Europe and Asia, failures in joint ventures, and last but not least in general lack of truly integrated strategy and company. To respond to a question, what happened, why Whirlpool faced so many problems on its way to be an international leader, we need at first give answer to a question, was their strategy assumptions correct? In formulating and development of global strategy, in my opinion Whirlpool made some general assumptions for industry development, which might...
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...Understand the importance of creative and innovative management in organizations 1.1 evaluate current creative and innovative management processes in an organization 1.2 explain how to lead others to positively embrace innovation and change LO 2 Be able to support creative and innovative management processes for an organisation 2.1 assess the influence of vision and mission on generation of creative and innovative management processes in an organization 2.2 use analytical tools to identify potential creative and innovative management ideas 2.3 assess risks and benefits of creative and innovative management ideas 2.4 use change models to support the implementation of creative and innovative management ideas LO 3 TASK 2 Be able to influence others to effect change in an organization 3.1 produce an appropriate rationale to persuade stakeholders of an organization of the benefits of a creative and innovative management idea 3.2 communicate a creative and innovative management idea to stakeholders of an organization 3.3 establish key goals and priorities for implementation of a creative and innovative management idea using feedback from stakeholders LO 4 Be able to plan to overcome barriers to implementation of creative and innovative management ideas in an organization 4.1 assess the barriers to the implementation of a creative and innovative management idea in an organization 4.2 plan a strategy to overcome identified barriers...
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...Motorola Inc. Motorola Inc. Describe the salient opportunities and threats that exist in Motorola’s external environment. Observing the history of Motorola the enchanting thing that we discover is that the biggest opportunity that they have is their brands are well placed in the market. Also understanding the fact that they have a very strong promotional strategy, by using different tools they tempt their customers towards an exciting era of innovation. The fact that Motorola has been involved in the venture of Telco TV services by Verizon and this has provided the advantage to be placed in the rapidly growing market. One of the analysts has also instructed that Motorola has such products that can allow it to easily enter the mature market where risk is extensively high then in comparison to its competitors. Motorola has also expanded its products worldwide and to different other foreign countries where it has started to penetrate itself into new markets. Thus this will allow them to enter in to a diverse area and thus will also help them to enhance their expertise. However, it’s not always good news Motorola is operating in a very dynamic market which makes it highly possible for increasing threats to occur. Thus, the biggest threat to Motorola is from Japan which is producing high quality products and flooding them abroad attached with it a cheap price. Also we cannot say that Motorola is the only firm with an advantage of wireless technology because we have other firms...
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...OBJECTIVES 5 EXTERNAL ENVIRONMENTAL ANALYSIS 7 SOCIAL 7 TECHNOLOGICAL 8 POLITICAL 9 ENVIRONMENTAL 9 ECONOMIC 10 INTERNAL CAPABILITY ANALYSIS 11 VRIN 12 S.W.O.T ANALYSIS 14 PROPOSED STRATEGIES 16 STRATEGIC ALLIANCES 18 REQUIRED RESOURCES 20 CONCLUSION 23 REFERENCES 24 INTRODUCTION Located on Sydney’s unique Harbour, one of Australia’s most popular tourist destinations is the Museum of Contemporary Art (MCA). The MCA has been dedicated to displaying, collecting and interpreting contemporary art since it first opened its doors to the public in November 1991 (MCA, 2014). The beginning of the MCA was due to an Australian artist, John Power, who left his fortune to the University of Sydney when he passed away. The University of Sydney, on Power’s request, used this money to educate and inform Australians about contemporary art. This eventually led to the NSW Government donating the old Maritime Services Board premises to the cause. This location is where the MCA remains today. The following paper will analyse critical elements involved in the MCA’s strategic operations. Beginning with the mission, goals and objectives, followed by an external environmental analysis and an internal capability analysis. The majority of the paper will discuss proposed strategies and finally required resources. MISSION & VISION STATEMENTS Whilst not using the term ‘mission statement’, this statement successfully communicates what the MCA does, then delves deeper...
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...Introduction Riordan Manufacturing will see growth and opportunity when utilizing the information within their strategy plan. The company is a leader in the polymer materials and has the ability to find solutions for the customers of the products. Our focus is to promote an efficient, reasonable profitability goal to promote our finances and capital is obtained for the future growth of our company. Currently, the industry leader in the R&D while leading in the industry trends identification. Our goals include improvement of employee satisfaction by 10-15%, lay ground work for share and profit gain, and reaching $50 million in operating income. Ensuring the product is environmentally safe and the best quality could help the company to become the innovative leaders in the market. We will develop a team that is focused on innovation and creation of a roadmap containing dates specific to the goals listed above. Our goal is to reduce operating costs, become partners with Kudler foods, and drive the culture to obtaining the best quality products where goals and limitations are always increasing. What role should ethical and social responsibility considerations have in Riordan’s strategic management plan? Ethics is defined as the process of evaluating problems that are within the business environment and is related to the employees, management, and corporation. Enabling a company a balance between the ethical and social responsibilities can be tough because there is a need...
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