Strategic Management
Strategic Management Coursework | Student Number-09002156 | | Company –Dyson ltd Topic –Innovation and Strategy | | Tutor- Wendy Phillips | 12/12/2011 | |
Contents Introduction 2 The use of Innovation – Dyson Ltd 2 Technology Push or Market Pull 4 Diffusion S-curve 6 Radical and Incremental Innovation 11 Conclusion 13 References in Alphabetical order 13
Introduction
Technology plays a vital part in the way businesses operate in modern times. It has had tremendous impact on industrial development, productivity, growth and the rising standard of living Abernathy and Clark, (1984).The use of technology on its own has identifiable benefits, however it produces immense value within an organisation when it is harnessed and commercialised effectively.
The use of Innovation – Dyson
Innovation is now considered to be a fundamental prerequisite for competitiveness and economic well-being. In most major industries, innovation has almost become less risky as both consumer and industrial markets have come to expect regular changes and improvements to products. Most firms find it profitable to make innovation their grand strategy (earce and Robinson, (2004). Gerry Johnson et al, (2008) describes innovation as the involvement of the conversation of new knowledge into a new product, process or services, and the putting of this new product, process or services into use, either via marketplace or by other processes of delivery.
This new era of technology is becoming an indispensable enabler of companies’ innovation. For example digital technology is becoming an indispensable element in most innovation strategies and the internet makes facilities available for companies to innovate in ways unimaginable.
Just a few years ago, Sir James Dyson, the founder of Dyson Ltd, stated that the formula to an innovative company is creativity plus iterative development. This essay will address the theoretical concepts,
Contents Introduction 2 The use of Innovation – Dyson Ltd 2 Technology Push or Market Pull 4 Diffusion S-curve 6 Radical and Incremental Innovation 11 Conclusion 13 References in Alphabetical order 13
Introduction
Technology plays a vital part in the way businesses operate in modern times. It has had tremendous impact on industrial development, productivity, growth and the rising standard of living Abernathy and Clark, (1984).The use of technology on its own has identifiable benefits, however it produces immense value within an organisation when it is harnessed and commercialised effectively.
The use of Innovation – Dyson
Innovation is now considered to be a fundamental prerequisite for competitiveness and economic well-being. In most major industries, innovation has almost become less risky as both consumer and industrial markets have come to expect regular changes and improvements to products. Most firms find it profitable to make innovation their grand strategy (earce and Robinson, (2004). Gerry Johnson et al, (2008) describes innovation as the involvement of the conversation of new knowledge into a new product, process or services, and the putting of this new product, process or services into use, either via marketplace or by other processes of delivery.
This new era of technology is becoming an indispensable enabler of companies’ innovation. For example digital technology is becoming an indispensable element in most innovation strategies and the internet makes facilities available for companies to innovate in ways unimaginable.
Just a few years ago, Sir James Dyson, the founder of Dyson Ltd, stated that the formula to an innovative company is creativity plus iterative development. This essay will address the theoretical concepts,
References: ClaytonM. Christensen, Richard S. Rosenbloom. (1993). Explaining the attacker 's advantage:technologies paradigms,organisational dynamics,and the value network . Research policy. 1 (1), 233. Dosi G. (1982) “Technological paradigms and technological trajectories” Research Policy, 11:147-162. James Dyson Johnson, G., Scholes, K. and Whittington, R. (2008) “Exploring Corporate Strategy”. (8th Edition). Essex, Pearson Education. InnoviSCOP (2010) “Process Innovation – Definition” [online]. Available from: <http://www.innoviscop.com/en/definitions/process-innovation> [Accessed 4th Dec2011] Ian Wallis Michael E. Porter (2002). creating and sustaining superior performance. London: Pearso Education Limited 2002,2008 . 1-5. Primozic, K., Primozic, E. and Leben, J. (1991) “Strategic Choices: Supremacy, Survival or Sayonara”. USA, McGraw-Hill Shavinina, L