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04Aug

Reinvention Research Essay Help

This is a solution of Reinvention Research in which we discuss on global technological environment these days calls for continuous reinvention.

Introduction

The ever evolving global technological environment these days calls for continuous reinvention. Especially global and cross-industry trends, such as the global competition, technological change and increasing amount of potentials through intersection, imply a continuous need for corporations to develop disruptive innovations, services and strategies. With the increasing complexity and the competitiveness of the environment of the business world most of the leading organizations which are trying to sustain their profitable positions in the segment they are in, are taking help of different types of innovation. These companies are trying to use the factor of innovation as an excellence which will generate competitive advantage for the company and will be able to withstand wear and tear. Innovation these days is one of the most important concerns for the bulk of the premier organizations of the world.

The importance of innovation for sustaining competitive advantages for the companies has been accepted universally. Along with that it has been realized by most of the companies that only enthusiasm for great ideas is not alone for driving innovation management in an organization. It is imperative to develop a strong innovation culture if the companies want to sustain the advantage of innovation for a longer period of time. From this point the discussion about the organizations characteristics that facilitate the innovation process with respect to a UK engineering company can be initiated.

It is very important for an engineering company to keep on innovating due to the changing market factors. It has been observed previously that the civil engineering companies are pretty reluctant to herald the trend of innovation into their organization. They have resisted the innovative approaches even if the problem is solvable only through a process of innovation. But instead of opting for the safer option, it is very important for them to support the innovation and the innovators inside the company. The only intention behind an efficient and effective process for Innovation management is to support the workers which will let them counter challenges and bring in new schemes by the process of innovation. It is imperative to provide them with an opportunity for expression which will eventually promote creativity in the engineering organization. On the other hand it is also needed to have an efficient mechanism for managing the knowledge inside the organization for capturing and evaluating the innovative suggestions.

It has been mentioned by many marketing research and academicians alike that for the cause of innovation it is not advisable to select a team and its members based on the criteria of only competency. It has been noticed that innovation takes place inside a company only when it is challenged and the status-quo seems to be harmful for the health of the company. As a result of all of these the company has to go through some kind of innovation and change.

The first activity that has to be implemented, which could establish an innovative environment within the business structure is changing the direction of the company. But we have to keep in mind that shifting direction is certainly not the final step in innovation. Translation of ideas into final results is also very important. For that it is imperative for the engineering company to undergo a program which will attempt to manage the innovation from the internal stakeholders of the company. This innovation management program will help in drawing a guideline which will help in choosing the ideas which have potential for improving the operation of the company. This also helps in translating the innovative ideas into end products. This mechanism will ultimately enhance the innovative culture of the engineering company, reinforce it, and express that the top management is keen on making best out of the ideas.

The innovation process of several engineering firms has not been successful since the managers in these companies have selected people who are like them. Actually they should have selected the people who are capable of carrying inspiration through to innovation. The information management in engineering needs to embrace opportunity and hold a discerning, balanced view of risk and innovation. The opportunity to innovate is daunting and it takes strong leadership to pull it off without backing down from the challenge.
The culture which helps the process of innovation within the organization is recognized externally as genuine innovator. Internally, within the organization and among the internal stakeholders of the company this type of organization is termed as a dynamic, innovation friendly place to be. Organizations that have attained this culture produce innovations of all types – breakthroughs, useful incremental changes, and even radically new ways of doing business, and they do so with regularity. And actually, the concept of regularity is a good test to see if a company really has an innovation culture.

It is also important to measure the innovation inside the organization. It has been mentioned by many past industry experts and academicians that if new ideas are getting generated by the existing worker pool of the company, in several ways, and if the in-house conversations of the company are generally concentrated on the topic of innovation, it can be said that the culture of the company is innovation friendly. As we know, different parameters within the company like structures, processes, and attitudes can initiate the process of innovation within the company or prove to be obstacles for it.

It has to be kept in mind by an engineering organization change so that the process of innovation does not suffer from the factors of dearth of consideration from the top management of the organization, absence of an accurate methodology for innovation and dearth of time given to the workers for pursuing innovative ideas. It has to be understood by the managers of these companies that the concealed innovation geniuses, champions, and leaders possibly are already present in the employee pool of the company. It is these managers role to initiate precise focus to define and support them in these roles. This will help in validating their work and making their efforts more effective.

As far as the strategic approaches for the process of innovation is concerned, it can be said that for an organization which wants to implement effective innovation processes inside the company and strives for the innovation to work correctly within their business, it is imperative for them to set up a strategic approach for innovation in order. This will help them in taking help of the novel ideas which will ultimately make the best use of new technology while still being informed by business growth strategies and market research. It has been mentioned by many researchers that along with the other core functions of an organization, it is important to link innovation to strategy and the business planning process as well.

Innovation which does not work in tandem with the strategic aspect of the business is always prone to the risk of diverting important resources. This may act upon the vision and the mission of the organisation. This approach which has been termed ‘missile looking for a target’ syndrome by many practitioners has to be done away with strictly. Innovation activities have to be backed up with sound strategic framework and current business imperatives.

The degree to which a company must innovate and the kind of innovation strategy they need to pursue should be defined by the performance of the business performance, market trends and the future expectations by the organization. This is also determined by the factor of risk tolerance of the company.

The figure below puts in a nutshell the thought that there are three basic strategic frameworks which can be followed by the organizations which are trying to pursue innovation as their competitive advantage. For the companies which are on the green areas, it is possible for them to innovate more than rest of the organizations since they possess a greater amount of existing resources and skill set. {Also Read: – Social Networking Impact on Business Assignment}

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