Premium Essay

Distinguish Between Product, Process and Organisational Innovation. Which Is Likely to Be the Most Important for the Growth of Your Business over the Next Three Years?

In: Business and Management

Submitted By alexread007
Words 3089
Pages 13
The construction industry is currently in a state of turmoil – as the economic situation begins to improve, we are finding that the challenges of securing contracts and motivating people throughout the recessionary period are being replaced with different challenges including retaining people, maintaining the business ethos and controlling growth in what remains an incredibly competitive industry. Through recession and as we exit, a strategic approach to business management is key to longevity and sustainability of an organisation. In the context of Read Construction Holdings Ltd (the writer’s organisation), there are significant changes currently underway – a new business plan targeting significant growth over 3 years, new directors and ownership and a marketing strategy targeting increasingly large complex projects of a Design and Build nature. To achieve this, some form of change is required and much of this change may come through innovation. This assignment will distinguish between product, process and organisational innovation and discuss which is likely to be the most important for the growth of Read Construction Holdings over the next three years.

In order to distinguish between the different types of innovation, the essay will begin by setting out a clear definition of innovation. The main discussion will go on to discuss limitations, barriers and enablers of innovation and how that might impact on the organisation, summarising which type is likely to be the most important for the business in support of its goals, the essay will also evaluate the potential for consecutive innovative approaches and what limitations and barriers / enablers may be encountered. What is Innovation?
In defining innovation, it is important to clearly differentiate between innovation and invention. Fagerberg (2004) suggests that invention is the first occurrence of an idea...

Similar Documents

Premium Essay

Knowledge Management and Organizational Performance: Theoretical Study

...Knowledge management and organizational performance: Theoretical Study 1. Introduction Knowledge is an asset that needs to be effectively managed. Interest in knowledge management (KM) has grown dramatically in the recent years, as more researchers and practitioners have become aware of the knowledge potential to drive innovation and improve performance. For an organization to remain competitive, it must effectively practice the activities of creating, acquiring, documenting, transferring, and applying knowledge in solving problems and exploiting opportunities. Many researchers argue what the organization comes to know explains its performance. The ultimate test of any business concept, such as KM, is whether it improves business performance. If organizations cannot use knowledge to improve performance, knowledge does not have measurable value. However, management research has often overlooked the role of knowledge and KM in the analysis of organizations and their performance. Most of KM research consists of either theoretical analyses of KM issues or case-based reviews of organizations’ KM practices. Consequently, KM research is short of offering an unambiguous understanding of the role of KM in improving organizational performance. On the other hand, effective KM entails an understanding of the interrelationships that may exist among KM processes such as knowledge acquisition, knowledge creation, knowledge documentation, knowledge transfer, and knowledge application.......

Words: 9792 - Pages: 40

Premium Essay


...International Journal of Innovation Management Vol. 5, No. 3 (September 2001) pp. 377–400 © Imperial College Press DEVELOPING INNOVATION CAPABILITY IN ORGANISATIONS: A DYNAMIC CAPABILITIES APPROACH BENN LAWSON Department of Accounting, The University of Melbourne Victoria, 3010, Australia e-mail: DANNY SAMSON Department of Management, The University of Melbourne Victoria, 3010, Australia e-mail: Received 1 February 2001 Revised 18 August 2001 Accepted 21 August 2001 This paper draws together knowledge from a variety of fields to propose that innovation management can be viewed as a form of organisational capability. Excellent companies invest and nurture this capability, from which they execute effective innovation processes, leading to innovations in new product, services and processes, and superior business performance results. An extensive review of the literature on innovation management, along with a case study of Cisco Systems, develops a conceptual model of the firm as an innovation engine. This new operating model sees substantial investment in innovation capability as the primary engine for wealth creation, rather than the possession of physical assets. Building on the dynamic capabilities literature, an “innovation capability” construct is proposed with seven elements. These are vision and strategy, harnessing the competence base, organisational intelligence, creativity and idea management, organisational......

Words: 8853 - Pages: 36

Premium Essay

Business Strategy

...BUSINESS STRATEGY OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Management Ideas Numbers Guide Style Guide Dictionary of Business Dictionary of Economics International Dictionary of Finance Brands and Branding Business Consulting Business Ethics Business Miscellany China’s Stockmarket Dealing with Financial Risk Future of Technology Globalisation Guide to Financial Markets Headhunters and How to Use Them Successful Mergers The City Wall Street Essential Director Essential Economics Essential Finance Essential Internet Essential Investment Essential Negotiation Pocket World in Figures BUSINESS STRATEGY A Guide to Effective Decision-Making Jeremy Kourdi THE ECONOMIST IN ASSOCIATION WITH PROFILE BOOKS LTD Published by Profile Books Ltd 3a Exmouth House, Pine Street, London ec1r 0jh Copyright © The Economist Newspaper Ltd 2003 Text copyright © Jeremy Kourdi 2003 All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility......

Words: 78700 - Pages: 315

Premium Essay

Creative and Innovative Management

...Research Programme Harnessing creativity and innovation Kelly Drewery H A R N E S S I N G C R E AT I V I T Y A N D I N N O VAT I O N Contents 1. Harnessing ‘creativity and innovation’: why the interest? 2. Harnessing creativity: sharing and generating ideas 2.1 Creativity in the organisation 2.2 Looking outside the organisation for creative ideas 2.3 Supportive and obstructive features for harnessing creativity 2.4 Work processes 2.5 Assessing creativity ‘wealth’ 3. Harnessing innovation: options for implementation 3.1 Innovation in the organisation 3.2 Strategic partnerships or outsourcing 3.3 Takeover of another company for their product/service 4. What can organisations do now? Bibliography 2 3 3 4 5 11 11 15 15 18 20 21 23 © The Work Foundation Registered as a charity no: 290003 First printed July 2003 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording and/or otherwise without the prior written permission of the publishers. This publication may not be lent, resold, hired out or otherwise disposed of by way of trade in any form, binding or cover other than that in which is is published, without the prior consent of the publishers. H A R N E S S I N G C R E AT I V I T Y A N D I N N O VAT I O N 1. Harnessing ‘creativity and innovation’: why the interest? The......

Words: 12442 - Pages: 50

Premium Essay

Strategic Management

...allocation and control of work tasks 8 2.2 Functional Structure 8 2.3 Divisional structure 10 2.4 Product structure 11 2.5 Geographical structure 12 2.6 Matrix structure 12 2.7 Complex forms of organisation 14 3 The Levels and Formulation of Strategy 17 3.1 Introduction - definition 17 3.2 Process of strategy 17 3.3 Levels of strategy 19 3.4 Types of Strategy 19 3.5 Other Types of Strategic formulation 22 4 Schools of Strategy 24 4.1 Introduction - Definition - there are three ‘schools’ of strategy 24 Please click the advert The next step for top-performing graduates Masters in Management Designed for high-achieving graduates across all disciplines, London Business School’s Masters in Management provides specific and tangible foundations for a successful career in business. This 12-month, full-time programme is a business qualification with impact. In 2010, our MiM employment rate was 95% within 3 months of graduation*; the majority of graduates choosing to work in consulting or financial services. As well as a renowned qualification from a world-class business school, you also gain access to the School’s network of more than 34,000 global alumni – a community that offers support and opportunities throughout your career. For more information visit, email or give us a call on + 44 (0)20...

Words: 11961 - Pages: 48

Premium Essay

Management in Organization

...Commonwealth Executive Masters in Business Administration / Public Administration CEMBA 553 Management in Organisations Copyright © Commonwealth of Learning, 2003 All rights reserved. No part of this course may be reproduced in any form by any means without prior permission in writing from: The Commonwealth of Learning 1285 West Broadway Suite 600 Vancouver, BC V6H 3X8 CANADA e-mail: Dean Institute of Distance Learning New Library Building Kwame Nkrumah University of Science and Technology Kumasi, Ghana Phone: +233-51-60013 Fax: +233-51-60014 E-mail: Web: i 553 - Management in Organisations Learning Objectives Upon successful completion of this course, learners will be able to: • • • • Explain the basic premises of management and public administration Compare different theories and approaches of organisation Distinguish behavioural patterns, advantages, disadvantages, and dysfunctions of bureaucracies Categorize the different management trends in the work environment. Topics • Introduction to Management and Organisational Behaviour • Individual and Group Behaviour in Organisations • Decision- making and Communications in Organisations • Leadership, Organisational Structure & Environment • Power and Politics • Organisational Culture • Organisational Change • Conflict and Negotiations ii TABLE OF CONTENTS 1 Introduction................................................................................

Words: 79671 - Pages: 319

Premium Essay

Leadership guide The Business School Leadership in a Changing Environment STUDENT STUDY GUIDE Authors: Dr J. McMillan, Ms M. Anderson, Dr L. McLean, Ms. J. O`Neill and Mrs N. D’Annunzio-Green • May 2014 Edition • J. McMillan, M. Anderson, L. McLean, J. O`Neill, N. D’Annunzio-Green • The Business School • Edinburgh Napier University First published by Edinburgh Napier University, Edinburgh, Scotland © 2014 No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means – electronic, electrostatic, magnetic tape, mechanical, photocopying, recording or otherwise – without permission in writing from Edinburgh Napier University, 219 Colinton Road, Edinburgh, EH14 1DJ, Scotland. Contents Page 1. 2. 3. 4. 5. Welcome to Leadership in a Changing Environment Overview of Topics Reading and Other Resources Assessment Information Tutorials 1 5 15 17 21 Welcome to Leadership in a Changing Environment 1 Welcome to Leadership in a Changing Environment Hello and welcome to the Leadership in a Changing Environment module. My name is Dr Janice McMillan, and I am the Module Leader. This Student Study Guide provides you with information on the module, including the two formal assessments – the case study report and unseen exam. The topics will be introduced by a representative of Edinburgh Napier University. The Tutorials will be delivered by the Local Tutor, which will allow the......

Words: 13725 - Pages: 55

Premium Essay


...constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK Copyright © 2014 University of Sunderland ii Contents vi Introduction Unit 1 1 2 5 7 Concepts, models and theories 20 Introduction 2.1 A comparison of concepts, models and theories relating to competitive advantage 2.2 An evaluation of concepts, models and theories relating to strategic choice Case Study: Ciba Vision 2.3 Concepts, models and theories relating to strategic evaluation Case Study: The University of Exeter Self-assessment questions Feedback on self-assessment questions Summary 20 21 Strategic risk management 43 Introduction 3.1 Why strategic risk management is necessary in today’s climate Case Study: Research In Motion 3.2 Assessing and evaluating different types of risk facing the organisation 3.3 Evaluating risk management processes 3.4 Evaluating the role of organisational culture in...

Words: 89385 - Pages: 358

Premium Essay

Gsl Mc

...Knowledge Checks: Multiple Choice and Extended Response Questions and Solutions GLOBAL STRATEGY AND LEADERSHIP Version 16a © Copyright CPA Australia unless otherwise indicated. Multiple Choice Questions and Solutions KNOWLEDGE CHECKS: MULTIPLE CHOICE AND EXTENDED RESPONSE QUESTIONS AND SOLUTIONS | i Contents Questions 1 Module 1 Question 1.1 Question 1.2 Question 1.3 Question 1.4 Question 1.5 Question 1.6 Question 1.7 Question 1.8 Question 1.9 Question 1.10 Module 2 Question 2.1 Question 2.2 Question 2.3 Question 2.4 Question 2.5 Question 2.6 Question 2.7 Question 2.8 Question 2.9 Question 2.10 Module 3 Question 3.1 Question 3.2 Question 3.3 Question 3.4 Question 3.5 Question 3.6 Question 3.7 Question 3.8 Question 3.9 Question 3.10 Module 4 Question 4.1 Question 4.2 Question 4.3 Question 4.4 Question 4.5 Question 4.6 Question 4.7 Question 4.8 Question 4.9 Question 4.10 R:\Workgroups\CPA-Production\CPA MCQs and ERs\1st Semester 2016\GSL\GSL-Knowledge-check-MCQ_16a.docx 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 5 5 5 6 6 6 6 6 7 7 7 7 8 8 8 8 8 9 9 9 10 10 10 10 11 11 DTP: Mira 1st set 15b 05-02-16 ii | GLOBAL STRATEGY AND LEADERSHIP Module 5 Question 5.1 Question 5.2 Question 5.3 Question 5.4 Question 5.5 Question 5.6 Question 5.7 Question 5.8 Question 5.9 Question 5.10 Module 6 Question 6.1 Question 6.2 Question......

Words: 25487 - Pages: 102

Premium Essay

Business Environment

...Assignment Name : HND BUSINESS ENVIRONMENT Student Name : IGOR ORLOV Student ID : SC 4074 Semester : CONTENTS PAGE Introduction 02 A Brief Overview of Toyota Motor Corporation 02 A Brief History 02 Section LO1 - Organisation Purposes 03 Purposes of different type of Organisation 03 Stakeholders expectation and Organisational strategies 04 Responsibilities of Organisation and strategies to meet them 05 Section LO2 - Nature of the natural environment 07 Economic system and resources 07 Fiscal and monetary policies effect on Organisation activities 09 Competitor strategy 09 Section LO3 - Organisational Behaviour in market environment 11 Pricing and output decision 11 Market forces and effects for an Organisation 11 Business and cultural environment 11 Section LO4 - Significance of global factors affecting a business 13 International trade 13 Global factors influence on a business 13 Summary and conclusion 14 Credits and references 14 INTRODUCTION My aim in writing this assignment is to delve into the subject of Business Environment and describe its key functions. I have chosen to research and submit my findings based on the company Toyota Motor Corporation, and look into ways in which the subjects covered in this assignment apply to this corporation. A BREIF OVERVIEW OF TOYOTA MOTOR CORPORATION Toyota Motor Corporation commonly known simply as Toyota and abbreviated as TMC, is a Japanese...

Words: 5079 - Pages: 21

Premium Essay

Doc, Docx, Pdf, Wps, Rtf, Odt

...Coping with Continuous Change in the Business Environment CHANDOS KNOWLEDGE MANAGEMENT SERIES Series Editor: Melinda Taylor (email: Chandos’ new series of books are aimed at all those individuals interested in knowledge management. They have been specially commissioned to provide the reader with an authoritative view of current thinking. If you would like a full listing of current and forthcoming titles, please visit our web site or contact Hannah Grace-Williams on email or telephone number +44 (0) 1993 848726. New authors: we are always pleased to receive ideas for new titles; if you would like to write a book for Chandos, please contact Dr Glyn Jones on email or telephone number +44 (0) 1993 848726. Bulk orders: some organisations buy a number of copies of our books. If you are interested in doing this, we would be pleased to discuss a discount. Please contact Hannah Grace-Williams on email or telephone number +44 (0) 1993 848726. Coping with Continuous Change in the Business Environment Knowledge management and knowledge management technology ANTONIE BOTHA DERRICK KOURIE AND RETHA SNYMAN Chandos Publishing Oxford · England Chandos Publishing (Oxford) Limited TBAC Business Centre Avenue 4 Station Lane Witney Oxford OX28 4BN UK Tel: +44 (0) 1993 848726 Fax: +44 (0) 1865......

Words: 69553 - Pages: 279

Premium Essay

Strategic Management

...UNIT 1 i Overview of strategic management Unit 1 BMG 303/05 Strategic Management Overview of Strategic Management ii WAWASAN OPEN UNIVERSITY BMG 303/05 Strategic Management COURSE TEAM Course Team Coordinator: Dr. Chuah Poh Lean Content Writer: Dr. Hasliza Abdul Halim Instructional Designer: Mr. Khoo Chiew Keen Academic Member: Ms Lum Li Sean COURSE COORDINATOR Ms. Loo Saw Khuan EXTERNAL COURSE ASSESSOR Associate Professor Dr. Haji Hamzah Dato Abdul Rahman, Universiti Utara Malaysia. PRODUCTION Editor: Pelangi Sdn. Bhd. In-house Editor: Mr. Khoo Chiew Keen Graphic Designer: Deam Enterprise Wawasan Open University is Malaysia’s first private not-for-profit tertiary institution dedicated to adult learners. It is funded by the Wawasan Education Foundation, a tax-exempt entity established by the Malaysian People’s Movement Party (Gerakan) and supported by the Yeap Chor Ee Charitable and Endowment Trusts, other charities, corporations, members of the public and occasional grants from the Government of Malaysia. The course material development of the university is funded by Yeap Chor Ee Charitable and Endowment Trusts. © 2013 Wawasan Open University All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from WOU. Wawasan Open......

Words: 23866 - Pages: 96

Premium Essay

S Occ

...Session 2: Organizations over time Explaining Development and Change in Organizations * Van de Ven &Poole (1995) * Change: empirical observation of difference in form, quality, or state over time in an organisational entity (may be an individual’s job, a work group, an organisational strategy, a program, a product, or the overall organisation). * Development: change process * Process theory: how and why an organisational entity changes and develops * 4 basic theories explaining change processes in organisations: *Imminent=bevorstehend Teleology: * assumes that the entity in purposeful and adaptive * needs creativity Dialectical: * e.g. acquisitions: two firms have different “theses” and need to find antithesis * e.g. multinational firm: international and national HQ “compete” * there is no assurance that dialectical conflicts produce creative syntheses * the desired synthesis creates win-win situation * either the maintenance of actual thesis or its replacement with the antithesis creates win-lose * in terms of organisational change: * maintenance of status quo stability * replacement with antithesis or synthesis change Evolution: * Variation: Change from current routines and competencies (intentional & blind) * Selection: Elimination of certain types of variations (external & internal selection) * Retention: Selected variations are preserved, duplicated, reproduced * e.g....

Words: 12910 - Pages: 52

Premium Essay

Business Information Systems

...Learning Unit 1: Introduction to Entrepreneurship Define and compare entrepreneurship and intrapreneurship. Entrepreneurship: Entrepreneurship is the process of conceptualising, organising, launching and — through innovation — nurturing a business opportunity into a potentially high growth venture in a complex, unstable environment. Entrepreneur: Entrepreneurs are those individuals who discover market needs and launch new firms to meet those needs. They are risk takers who provide an impetus for change, innovation and progress in economic life. Intrapreneurship: Intrapreneurship is the form of entrepreneurship which takes place in existing businesses around new products, services or markets. Intrapreneur: Intrapreneurs are innovative employees who either rejuvenate existing organisations or create new ventures within a corporate structure. Intrapreneurs are also referred to as internal or corporate entrepreneurs. Discuss the entrepreneurial motivation. Push Factors: Poor remuneration Lack of Job advancement Restrictive employers Potential restructuring and / or retrenchment Inability to secure a job Lack of innovation in the current workplace Pull Factors The motivation of profit The need for a challenge and self actualisation The desire for independence The desire to improve one’s community Describe the profile of an entrepreneur. Prominent among the character traits of successful entrepreneurs have the following traits: * * The......

Words: 13386 - Pages: 54

Free Essay


...BUSINESS STRATEGIES AND PERFORMANCE DURING DIFFICULT ECONOMIC CONDITIONS For the Department of Business Innovation and Skills (BIS) John Kitching Robert Blackburn David Smallbone Small Business Research Centre, Kingston University Sarah Dixon School of Management, Bath University June 2009 URN 09/1031 Contents EXECUTIVE SUMMARY i 1. INTRODUCTION, RESEARCH OBJECTIVES AND METHODS 1 2. RESEARCH CONTEXT 1 2.1 Defining Difficult Economic Conditions 1 2.2 The Current Crisis 1 3. ANALYTICAL FRAMEWORK 1 4. THE BUSINESS STRATEGY AND MANAGEMENT LITERATURE 1 4.1 Business Strategy: General Considerations 1 4.2 Strategic Adaptation to Environmental Jolts, Turbulence and Radical Institutional Change 1 4.3 Strategic Adaptation to Recession 1 4.4 Retrenchment Strategies 1 4.5 Investment Strategies 1 4.6 ‘Ambidextrous’ Strategies 1 4.7 Business Size as an Influence on Strategic Adaptation to Difficult Economic Conditions 1 4.8 International Experience 1 5. CONTEMPORARY COMMENTARY ON THE CURRENT CRISIS 1 6. STRATEGIC RESPONSES IN THE RECESSION: DELIBERATIONS FROM A THINK-TANK 1 6.1 Introduction and Objectives 1 6.2 Business Responses in Recession 1 6.2.1 Knowledge Base 1 6.2.2 Unevenness of Recession 1 6.3 Modelling Strategic Change 1 6.3.1 Typologies of Strategic Change 1 6.3.2 Strategic Thinking and Strategic Actions 1 6.4 The Role of Innovation under Recession Conditions 1 6.5 Roles for Public......

Words: 24838 - Pages: 100