...“I see no advantage in these new clocks. They run no faster than the ones made 100 years ago.” This phrase is assigned to Henry Ford, one of the greatest industrial innovators that our world has ever known. Once read, this quote has necessarily triggered a smile or at least a frown to your face. These two reactions disappear and leave the mind reflecting upon interesting and intriguing questions like: “Do we always need innovation? And if the answer seems to be yes why is it necessary?” One can find the beginning answers to these questions in another quote from Henry Ford, who said once to a journalist that if he had asked people what they wanted, they would have said “faster horses” and surely not cars. Does one should infer that humankind...
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...Accelerated Innovation: The New Challenge From China Magazine: Summer 2014Research Feature April 23, 2014 Reading Time: 23 min Peter J. Williamson and Eden Yin Rather than focusing on technological breakthroughs, Chinese companies are finding new ways to innovate that reduce lead times and speed up problem solving. Companies elsewhere should take notice. Chinese companies are reengineering new product development in ways that reduce lead times. Chinese companies are opening up a new front in global competition. It centers on what we call accelerated innovation — that is, reengineering research and development and innovation processes to make new product development dramatically faster and less costly. The new emphasis is unlikely to generate stunning technological breakthroughs, but it allows Chinese competitors to reduce the time it takes to bring innovative products and services to mainstream markets. It also represents a different way of deploying Chinese cost and volume advantages in global competition. Silicon Valley and other technology hotbeds may be able to match the speed of Chinese innovation in particular sectors such as electronics and Internet-based services. However, what’s distinctive about the strongest Chinese competitors is their capability to combine accelerated innovation with rapid scale-up to high volume at low cost, and to apply these techniques across a wide variety of traditional industries. We saw accelerated innovation being deployed...
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...Merck (in 2009): Open for Innovation? The pharmaceutical company undergoes new drug advances, conflicting regulatory laws, and tough economic situations. With all these pressures evolving, Merck & Company felt the need to pursue open innovation strategy because the biotech company is too complicated to navigate on its own. There is so much useful information within and outside of company that would be great advantage to the company. Creating new partnerships, discovering new technological trends and classifying new business opportunities are the leading strategic reasons to take part in open innovation. An open innovation strategy allows companies to contribute ideas from external sources quicker than ideas created contained by its own company. Merck’s sole purpose behind using open innovation is keep his pharmaceutical company is to stay competitive. An open innovation strategy would allow the company to source new ideas externally and at a faster rate. While Merck had been moving toward an open innovation strategy, he has to convince his company and their leaders to embrace research and development from other research organization and universities. It is obvious that Merck should pursue an open innovation strategy for the company to overcome challenges. Open innovation lets many people from dissimilar disciplines to challenge the same problem at the same time and not consecutively. In collaborative technology, it can save lots of time. It takes a lot of time to come up...
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...IBM forms new Watson group for cloud-delivered cognitive innovations, with $1 billion investment January 12, 2014 [+] IBM Watson Group’s new Silicon Alley center in New York City IBM has announced it will establish the IBM Watson Group, a new business unit dedicated to the development and commercialization of cloud-delivered cognitive innovations. Headquartered in NYC’s “Silicon Alley,” the move signifies a strategic shift by IBM to accelerate into the marketplace a new class of software, services and apps that think, improve by learning, and discover answers and insights to complex questions from massive amounts of Big Data. IBM will invest more than $1 billion into the Watson Group, focusing on development and research and bringing Watson-powered cloud-delivered cognitive applications and services to market. About 2,000 professionals will design, develop, and accelerate the adoption of Watson cognitive technologies that transform industries and professions. According to technology research firm Gartner, Inc., smart machines will be the most disruptive change ever brought about by information technology, and can make people more effective, empowering them to do “the impossible.” New Watson-based services IBM is announcing three new services based on Watson’s cognclouditive intelligence: * IBM Watson Discovery Advisor aims to revolutionize how industries such as pharmaceutical and publishing conduct research. It will delve into the influx of data-driven content...
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...The more you know about them and their needs, the easier it is to identify opportunities to sell them products and target them with appropriate offers. Computer aided design and manufacturing CAD/CAM software is used to create a 3 dimensional design. CAD/CAM software makes life of a manager easier by making it a simple task to process and manage a production. The software provides the critical mechanism through which managers can lower the costs, compress the time cycles and increase the value of innovations. In many cases, software is the core element in process innovations or creating the components that make the products that valuable customers love and enjoy. Rapid distribution of products and customers satisfaction add the most value to...
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...Name: Mohammad yaseen Technology changes our society Technology is the usage and knowledge of tools, machines, techniques, crafts, systems, and methods of organization, in order to solve a problem, accomplish goals or perform a specific function. It can also refer to the collection of such tools, including machinery, modifications, arrangements and procedures. This new innovation comes with both advantage and disadvantages. Technologies significantly affect human as well as animal species' ability to rule and adapt to their natural environments. Nowadays technology in general has made life simpler and keeps people in touch even though they are thousands of miles away from each other (Technological Advancement). Technology can a communication revolution, information technology and it helps the world for a better living in the future. Technology has become a very important part of our lives nowadays. During the past few years, technology has evolved in many ways and is probably without a doubt better than ever before. People are always trying to invent something new that will enhance our lives dramatically. Some major creations that have changed our lives are e-mail, supercomputer, telephone, internet, television, cell phone and voice mail. On the firsthand how technology helps people communicate more information to more people in less time is what student need to experience, it has a greater accuracy and less misunderstandings situations. In this brief lesson, students...
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...and personal care products. In addition, the company’s product portfolio includes pet health products and snacks. P&G’s purpose is to touch and improve people’s everyday lives. Currently, there are nearly seven billion people on the planet and P&G reaches about 4.4 billon people. (Citation) The company is executing its growth strategy by innovating products and services to improve people’s lives in all markets. Innovation is the driving force behind the company’s strategy. As stated by, CEO Robert McDonald “our experience has proven that price promotion may win a quarter here and there, but innovation wins decades”. (Citation needed) There many examples to prove this, the company’s laundry business in the U.K., for instance. In the late 1970s, the company was competing hard to defend and maintain its 35% market share leadership position. In the three decades since, P&G stepped up innovation efforts which introduced a series of game-changing innovations such as Daz automatic detergent, concentrated liquid detergent and most recently Liqutabs. These new innovation efforts now allow the company to enjoy around a 50% share. (Citation needed) P&G seeks huge opportunities for growth and for consumers behind its Purpose-inspired Growth strategy. This strategy will allow the company to expand into more categories, countries and channels. Company Heritage William Procter, a candle maker and James Gamble, a soap maker were persuaded by their father¬-in-law to become business...
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...Marketing Mix Introduction Growth Maturity Decline Thermoball™ Insulation Jacket 1. Revolutionary new Thermoball™ Insulation. 2. Functions like down feather but insulates when wet. 1. New product features: colors, styles and patterns based on gender preferences. 2. A better alternative to down feather. 1. A better alternative to similar products by other manufacturers. 2. Improvements made to the style and form – fitted, etc. 1. Customers choosing other, newer products over this one. 2. Area of high innovation always feeds newer, better things. Place (Distribution) 1. Distribution limited to a few licensed retailers to include REI (currently available for shipping to U.S. addressed only). 2. Introduced after a long testing period trying to answer the needs of athletes. 1. Placement of articles so that they are available to wider circles – North Face. 2. More retailers interested in the product placement. 1. Higher priced retailers starting to drop out. 2. Specific, target markets only. 1. Distribution is mostly through the outlet stores or smaller, local businesses. 2. Discontinuation. Price 1. High price due to it being a revolutionary new product marketed as a better alternative to down feather. 2. Price driven by it being a new, revolutionary product limited to a few retailers. 1. Prices slightly start to lower due to retail competition. 2. The manufacturer does not necessarily lower the price but retailers do. 1. The price drops...
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...Information Technology can be described as the use of computers and telecommunication devices in organizations for storage, retrieval and sending of data and information. In the past two decades, advancements in technology have been through the internet and the use of the World Wide Web, among other IT innovation such as advancement in computers. The IT innovations are important as they have assisted organizations in processing and storing as well as exchanging appropriate information for decision making and competitive advantages. In the field of business, potential customers use the internet and World Wide Web to look for company information, and product news since companies started to use internet to advertise their products. Through the Internet, business information is present across the globe and the Web has two main advantages. The first is that it offers convenience where people can communicate and complete transaction from different locations. The second advantage is that it provides information. There is a lot of information concerning companies, their products, as well as competitors and the information is also of high quality, and readily available. The main innovation of IT advancements is that the world has become a global village with easy access and exchange of information. But on the other hand, some individuals and organizations have used IT to access private and confidential information. The Web allowed access to personal information to unauthorized persons...
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...are the benefits and costs of involving customers and suppliers in the development process? In a new product development process, to achieve success, there are three goals need to be fulfilled: 1) maximizing the fit with customer requirements, 2) minimizing the development cycle time, 3) controlling development cost. Many products fail to earn an economic return due to the missing of these goals. Thus involving customers and suppliers in the development process can be a good way to reduce such problem. Involving customers in a product development team or a design process can help the firm to have a clear view of which product features customers value the most and shorten the development cycle. Some firms use the “beta testing” in the early development stage to get feedback on their product and some companies introduce “lead users” method to identify future trends of general customers. Then the company can stay focus on projects that better meet the customer’s need, resulting more successful projects that bringing successful economic return Also firms can make adjustment on their expectation of new product’s pricing by involving customer to avoid products that are too expensive to gain market penetration. Relying on customers may brings some negative influence. Customers often feel like to make incremental enhancement to the current products instead of encouraging radical innovations. It takes time and money to find the most suitable customers to be involved and to filter all the...
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...problems during the late 1980 and early1990s? IBM’s success in the 1960’s and 1970’s was driven by the vision of CEO Thomas Watson Jr. as evidenced by IBM’s $5 billion development investment into the System/360, “the biggest privately financed commercial project ever”. The System/360, “transformed the industry”, along with IT innovations such as development of the FORTRAN, the hard disk, the floppy disk, IBM supermarket checkout station, and an early version of the automatic teller machine”. Mr. Watson’s vision and or innovation required acquiring talent by making IBM, “the best place to work”. The late 80’s and 90’s became riddled with problems as a result of a lost vision and increasing costs. IBM’s lost vision included not predicting the problems of converting from a lease-oriented business into a sales oriented business, need for network consultants, and the evolution of the PC. Finally, costs went up faster than revenues causing lower profits. 2) What did Gerstner do when he assumed the role of CEO in April 1993? Evaluate Gerstner’s approach in crisis management. How well did he perform as a turnaround manager? What challenges did he face as he attempted to position the company for growth? In 1993, Gerstner put the customer first, consolidated costs and looked to the future. His approach to the crisis in 1993 was to get involved with IBM’s customers. Gerstner attended sales meetings, created “one IBM” (reorganization), and directed executives to “bear-hug” customers...
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...Com435 Exam 3 Material Exam April 10th The Adoption of Technology * Technology advances are increasing at a growing rate * Moore’s variation of the Law: Technological advances double approximately every 18 months * Unlike processing speed, storage capacity, etc, adaption of technology is more difficult to measure * Adoption of particular technologies tend to follow a particular pattern A Common Pattern * Adoption (diffusion) of innovations follow a typical pattern known as the S-shaped curve The Diffusion of innovations * Everett Rogers – Diffusion of innovations * Innovation: an idea, practices, or objects that are perceived as new by an individual or other unit * Channels: the means by which messages about innovations travel from one person to another * Time: * Innovation decision-process for individual * Relative time to adoption compared to other adopters * Overall rate of adoption for innovation * Social System * Interrelated units that are engages in problem solving to accomplish a goal Types of Adopters – Innovators * Innovators * Shortest adoption curve * Possible Characteristics * Venturesome * Access to financial resources * High level of technical knowledge * Tolerant of uncertainty Types of Adopters – Early Adopters * Early Adopters * Most influential adopters * Possible characteristics ...
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...In the continuously changing environment, innovation is very important for the advancement of society and making the life better and simpler. New and innovative products increase the standard of living by providing the opportunities to improve the lives. With the advent of globalization and outsourcing, the need for innovation has increased. This is because of the increase in competition whereby all the small and big firms are operating at the same platform. According to Peter Ducker, if the company lost the ability of innovation then soon the company have to face the decline stage and the extinction in the business market (Goldhar and Berg, 2010) . In order to survive the organizations need to offer more than the good product in order to survive and this zeal to improve require the innovation in processes and management which helps in reducing the cost or improving the productivity. Innovation is the only tool with the help of which the organization can maintain its position in the competitive market and stay one step ahead of its competitors. It is the only way that creates the differentiation with the customers. Moreover, customers prefer the products which make their life simpler and this is possible with the continual improvement in product or processes. Being first in the market with the new product gives the significant advantage in building the customer base. The term Operational Strategy is defined as, “the total pattern of decisions which shape the long term capabilities...
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...which revolved the world and opened the window to new markets. Competitors such as Samsung as always had a tough time in coping up with the advancement done by Apple. Being the first to implement biometrics scan to a mobile device, Apple had opened up many new opportunities. Organizational culture can be described as the shared values, principles, traditions, and ways of doing thing that impacts the way organization members act and that sets apart them from others. At Apple, they are focused on the team orientation and outcome orientation. Steve Jobs way of doing work had influence Apple overall culture. Being the pioneer of “Work Hard Play Hard” they emphasize and ensure their employees are not too stressed about work. Even though, with a concept as such, Apple’s employees are trained and it is their nature to submit things by the deadline. A team oriented culture, they are passionate in producing new innovations and products as well working together as a team no matter what challenges they face to archive the goal given. Although, having a good team oriented environments not all the employees are keen into this kind of an environment especially with Steve Jobs, strange style. A company organizational culture determines capabilities is supporting changes, new policies and new strategies. As a outcome orientation culture, Apple employees effectively develops and integrates into producing better outcomes and rapid innovations such as iPhone, iPads, and Apple Watch. Company’s...
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...ENTRY 2, DISRUPTIVE INNOVATIONS In this essay I will describe and explain the causes and consequences of disruptive innovation. Firstly I will write about what dualism is, why it is important and how to achieve it. I will continue with describing difficulties, which may occur on a company’s path towards it, namely overshooting and inability to recognize the start of a new industry cycle. Further on, I will go deeper in the reasons, why incumbents fail to recognize the new entrants on the market, specifically “attack from below” and other discontinuous patterns of change. In the end I will describe some of the responses taken by established companies to disruptive technologies. In today’s world when competition is such a big factor, organizations must face the paradoxical challenges of "dualism" to be able to compete in long term. Dualism means being able of functioning efficiently today while innovating effectively for tomorrow. To compete in the long term, every corporation must understand and manage both sets of concerns simultaneously. (Paap, Katz, 2004) If the companies do not manage to face the challenges of dualism, they make themselves potential victims of disruptive technologies. Hence, achieving dualism means successfully surviving disruptive technologies. The first step a company has to make towards that is recognising them, but why it is so difficult for incumbents to recognise disruptive technologies? A limitation companies face in process of achieving...
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