INNOVATION AND CHANGE

Innovation and Change

Innovation and Change

Introduction

Score of factors truly contribute in making a company innovative, which includes: an overall winning business strategy, innovation focused strategy, great talent, deep customer insight, and the adequate set of capabilities for successfully executing the innovation and change strategy. The role of corporate culture in binding the self sustaining practices of feeling, thinking, behavior and believing of an organization is more crucial than any other factor. However, a study recently conducted by Global Innovation 1000 disclose the facts that less than half of the companies who make endeavors to implement innovation strategy can attain their desired objectives because of their corporate strategy (Jaruzelski, Loehr and Holman, 2011). Additionally, more than half of companies' data demonstrate that the main reason behind implementation of innovation strategies is their poor alignment with overall corporate strategy. This paper in this connection will assess the correlation between innovation strategies and the mission of a company. Additionally, the paper will also assess the disconnection between goal regarding innovation strategies and its mission.

Disconnect' Between a Company's Goal or Mission and Its Innovation

The definition of mission statement clearly defines that a mission statement of a company should communicate the primary/key values and purpose of an organization or a business. Simply, a mission statement for a company communicates it reason for existence. A mission statement provides direction for decision makers and helps in keeping the organizational operation on track for on long-term (Christensen, Horn & Johnson, 2008).

For instance, brand image, development of new products, offers of new services and marketing messages must harmonize the mission statement of the company. A disconnection between the mission statement of the company and its strategies mainly innovation leads to failure of the execution and implementation of such strategies. For instance, Amazon.com's mission statement clarifies that the company intends to become a customer centric company throughout the world; where people can search any product as per their desire. The word anything is very vague and diminishes the significance of mission statement of the company. There is no company in this world which can cater the diverse needs of people's purchase. For majority of the people living all over the world, Amazon.com is the best place to find the book but even with books, they cannot ensure every book available on this earth. Sometimes accessibility to a commodity will become a barrier and sometime the regulations. Suppose, a ...