INNOVATION AND CHANGE

Innovation and Change



Innovation and Change

Introduction

It is aptly said that nothing is permanent except change. Change and innovation is the spice of an organization's life, along with being major strategies to enhance productivity and performance. Innovation is about coping with change, “which can take two forms - in the things which an organization offers, and change in the way in which they are created and delivered”. Apparently this variable triggers a series of processes within modern industrial organizations, and these, in turn, are modified by their contextual correlates (Stern & Hicks, 2000, 19-54).

Discussion

Modern economy places the elements of innovation and change among the topmost priorities of an organization, if it is committed towards success and long-term growth. It should be noted that innovation, in this case, refers not only to put high-tech products into the consumer market but the deployment of latest scientific achievements that can contribute towards the sustainability of the company in changing times (Dychtwald et.al, 2004, 48-66). One of the most successful analysts for organizational innovation is Gray Hamel, whose book “At the head of the revolution. How to succeed in turbulent times by making innovation a way of life” discusses various aspects of organizational change and innovation, that can be taken as an exemplary work to implement, develop and monitor innovativeness of successful organizations (Hamel, 2002, 56-78). In his book, he explains the principles of radical innovation, explains why businesses undertake new concepts in revolutionizing their basic strategies, design criteria for companies that can be termed as “revolution-ready” or “activist-friendly”, defines steps that can ensure the implementation of innovation as a capability of successful organization, along with many other, related concepts and approaches (Hamel, 2002, 56-78). G.Hemel believes that the new age brings with it a fundamentally different business rules. For example, in my opinion, the advantage in size from large companies in many ways is their shackles that prevent them from developing, making them unwieldy giant, unable to keep up with its original form for the turbulent changes in the environment. At the same time, new entrants in their industries and have a great chance to win a solid s market share is due to its mobility and flexibility compared to the giant companies (Hamel, 2002, 56-78).

Key Processes in Product and Technological Innovation

In many studies on innovation and its impacts, organizational innovations are considered a key success the development of new ...