Change and Innovation

Change and Innovation

Introduction

Change and Innovation are two most important words that a manager of today should know. These two words are most essential for an organization to survive today. The word change with regard to the business can be described as when the business or a company is going through the process of transformation. The change in an organization occurs when the strategies or sections of an organization are changed. Organizational development is also known as reorganization or restricting. It can with regard to technology used, people working in the company, systematic change. The development is usually made, so that business becomes more productive. An organization undergoes the change process mainly due to internal or external factors influencing its operations. In order for an organization or company to prosper, they have to break off form the status quo, and should adapt to changes. It should continuously monitor the changes in the environment and mold its practices according to them. Change is essential for an organization so that it remain competitive in the market, cater its customer's needs, and take full advantage of the growth opportunities.

Innovation can be described as looking or exploiting new ideas to do work. Innovation in an organization can either be product related, or process related. Product innovation is bringing something new to market which improves the quality and range products or offer (Goedhuys & Veugelers, 2012), for e.g. iPod is an innovative version of music player. Process innovation can be described as the new, efficient, and effective way for making, and/or delivering services or goods (Goedhuys & Veugelers, 2012). Innovation so viable for an organization, that if it is ignored an organization may face extinction or decline. Innovation is now an essential measure taken by an organization to survive the impact of globalization, technological and educational revolutions. Innovation will help the company to add value to it business, and most importantly widen the employment base. Innovation has become the new imperative. In a survey conducted in January 2009, of corporate executives in Asia, Europe, Latin America, and North America, more than 76 percent agreed “innovation is more important than cost reduction for long term success” (Daft and Marcic, 2004).

Discussion

In 2010, I happened to work for a small company named XYZ (Pvt). Ltd. It was a soft drink manufacturer. I was appointed as the Production Manager in that company. I worked for that company for ...