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Innovation (Importance ((maintaining competitive advantage, need for…
Innovation
Importance
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inventions can change consumer expectations, forcing broader changes in what the organisation offers.
innovation should be encouraged as an organisational value: implementing systems that enhance efficiency and quality and while also promoting the need for new ‘big ideas’.
business functions
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marketing
mission, vision & values
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Visions are future-focused. Kotler et al. (2005) defined a vision as ‘a contagious dream, a widely communicated statement or slogan that captures the needs of the time’ and argued that the best missions were guided by visions. So the mission embodies the organisation’s purpose and is guided by the vision of the future which helps to set the stage for innovation and ‘big ideas’.
Values are important because they guide behaviour, especially in novel situations (Wilkins and Ouchi, 1983)
Abell (1978) identified four main types of changes inamarket: . change resulting from new needs in a marketplace (for example, the need to be able to digitally scan documents rather than just photocopy them) . change prompted from the development of new technology (for example, the advent of mobile phones) . change that redefines a market owing to changes in a product or in competitors’ product market strategies (for example, music-sharing websites) . change in a channel (for example, online retailing).
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Human resource management: Introducing new personnel procedures; creating new opportunities for members to participate.
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