INNOVATION
INTRODUCTION
This report aims to investigate the ability to innovate is becoming a critical indicator of business success. With the globalization of the world today, business have become more competitive and succeeding in the business environment have become more challenging, requiring more drastic measures such as adaptability in changing environment and ability to innovate as compared to decades past. This investigation is conducted in order to identify the key factor that drives a business success with focus on the ability for the business to innovate as a critical indicator of business success. The investigation is carried out by reviewing current and past surveys conducted by various researchers in different business environment. Compares of business goal attainment is made between highly innovative business and less innovative business in different business environment.
Based on research, it was discovered that for companies to remain competitive they need to nimbly and respond quickly to the changing business environment without getting caught in knots. It is important for companies to posses the ability to respond to market movement by transforming information into insight as core to sustainability. The main constraints to improved business success mostly are conflicting departmental goals and priorities, slow decision-making, silo-based information and risk-averse cultures. Companies are at a competitive disadvantage if they are not agile enough to anticipate fundamental market place shift. These are theories made from past research and survey and here is where innovative activities come in. This report discusses the different highlights, review, debates and current discussions on the innovative effect of business system on the success outcome of the business (Andy & Jasper 1998).
INNOVATION AS A CRITICAL INDICATOR FOR SUCCESS
Many companies will treat innovation as black-box, the serendipitous achievement of a few gifted individuals. But this
This report aims to investigate the ability to innovate is becoming a critical indicator of business success. With the globalization of the world today, business have become more competitive and succeeding in the business environment have become more challenging, requiring more drastic measures such as adaptability in changing environment and ability to innovate as compared to decades past. This investigation is conducted in order to identify the key factor that drives a business success with focus on the ability for the business to innovate as a critical indicator of business success. The investigation is carried out by reviewing current and past surveys conducted by various researchers in different business environment. Compares of business goal attainment is made between highly innovative business and less innovative business in different business environment.
Based on research, it was discovered that for companies to remain competitive they need to nimbly and respond quickly to the changing business environment without getting caught in knots. It is important for companies to posses the ability to respond to market movement by transforming information into insight as core to sustainability. The main constraints to improved business success mostly are conflicting departmental goals and priorities, slow decision-making, silo-based information and risk-averse cultures. Companies are at a competitive disadvantage if they are not agile enough to anticipate fundamental market place shift. These are theories made from past research and survey and here is where innovative activities come in. This report discusses the different highlights, review, debates and current discussions on the innovative effect of business system on the success outcome of the business (Andy & Jasper 1998).
INNOVATION AS A CRITICAL INDICATOR FOR SUCCESS
Many companies will treat innovation as black-box, the serendipitous achievement of a few gifted individuals. But this