Innovation Strategy
TO: Mrs. CEO
FROM: Jamie Iedema, Manager of Operations
DATE: October 10, 2014
SUBJECT: Summary of strategy and value-chain analysis
Executive Summary
This course work analyses the concept of innovation, evaluates the importance of innovation in strategy and also study techniques of promoting it in organizations. Mrs. CEO has requested a fully evaluation of the organization to establish a new strategy that implements innovative methods that will transcend the organization in the future. The goal is to generate a sustainable competitive advantage over the organization’s competitors and to prevent strategic drift.
Introduction
As time goes on, nothing stays the same in the organization. Everything is influenced by the time and all things are in continuous variation. In the market industry the progression is dramatically fast, the product and services we offer today, most likely be substituted by another tomorrow. Therefore it is essential for the organization to adopt the right strategy in order to deal with these continuous changes and survive and establish a new market share. In accordance with Peter Drucker (1985) the truest way for business to be successful is to innovate. In order to understand the requirements of the business is essential to gaining innovation.
According to Alan Altshuler and Robert D. Behn (1997), Innovation is the successful realization of new ideas and also aspiration to change the way a company operates and delivers service to the society. This statement contains ideas that are new to the public, new to an industry, or simply new to a specific company. The social and economic circumstances are the primary factors of the determined role of innovation in strategy. Peter Drucker (1992) explained it as “the knowledge economy” which emerged since of the end of the Second World War, due to increase of the service sector and decline of producers, business corporations have had to respond to change if they wish to do well in the business
FROM: Jamie Iedema, Manager of Operations
DATE: October 10, 2014
SUBJECT: Summary of strategy and value-chain analysis
Executive Summary
This course work analyses the concept of innovation, evaluates the importance of innovation in strategy and also study techniques of promoting it in organizations. Mrs. CEO has requested a fully evaluation of the organization to establish a new strategy that implements innovative methods that will transcend the organization in the future. The goal is to generate a sustainable competitive advantage over the organization’s competitors and to prevent strategic drift.
Introduction
As time goes on, nothing stays the same in the organization. Everything is influenced by the time and all things are in continuous variation. In the market industry the progression is dramatically fast, the product and services we offer today, most likely be substituted by another tomorrow. Therefore it is essential for the organization to adopt the right strategy in order to deal with these continuous changes and survive and establish a new market share. In accordance with Peter Drucker (1985) the truest way for business to be successful is to innovate. In order to understand the requirements of the business is essential to gaining innovation.
According to Alan Altshuler and Robert D. Behn (1997), Innovation is the successful realization of new ideas and also aspiration to change the way a company operates and delivers service to the society. This statement contains ideas that are new to the public, new to an industry, or simply new to a specific company. The social and economic circumstances are the primary factors of the determined role of innovation in strategy. Peter Drucker (1992) explained it as “the knowledge economy” which emerged since of the end of the Second World War, due to increase of the service sector and decline of producers, business corporations have had to respond to change if they wish to do well in the business
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