INNOVATION & GLOBALISATION

Innovation & Globalisation

Innovation & Globalisation

Executive Summary

Most organizations today are confronted with a number of recurrent systematic problems which requires them to take a significant position against them to resolve it. One of the issues with the internal and external processes of the organization is the deployment of old systems and strategies which makes them lag behind in the market trends and advancement. Innovation process within the models of the business and the business processes is a way to stream line the internal and external process of the organization or business with the market trends and culture and gain competitive advantage in the market. This paper intends to analyze the ideas of the authors Burgelman R , Christensen C and Wheelwright S with respect to the innovation processes in the organizations and the importance of transforming the business models and processes accordingly. The paper analyzes the importance of innovation process within the organizations and compares them with the strategies of development and innovation acquired by those organizations. The case studies and examples are widely used to support the argument presented by the authors that the success and progression of the businesses becomes easier when the focus of the business to innovate their products and services successfully is shifted from the resources towards the business model and process. The paper is divided into mainly three parts. The first part is the introduction in which the statement of the authors selected for the discussion is examined and analyzed on the basis of basic innovation ideas and concepts. The second part discusses the literature review and critical analysis of the statement selected for the paper. The literature studies are taken from the past researches done on the same topic that innovation requires the shifting of organization or business focus from that of resources towards the business models and business processes. It is then inferred from the past studies that whether the success of the business models is dependent upon the new concept that requires the locus of control towards the capability of the organization or business to focus on business model and practices or business process or not. The critical analysis part of the paper synthesizes the ideas of the past researchers and takes a position to discuss the ideas in the light of modern practices of the organizations regarding innovation. The last part of the paper is the conclusion in which the ideas an d concepts gained throughout the paper are revised in a simplified manner to gain an insight into the lesson obtained through the critical analysis of the selected statement related to innovation processes of the organizations.

Introduction

The increasing globalization has resulted in the emergence of the concept of innovation in almost every field including businesses. The businesses are increasingly opting for new ways of conducting their operations and providing services and products to the customer's n order to gain competitive advantage over one another. Basically, the concept of innovation refers to the idea of changing, renewing or ...