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Guide on How to Write University Essays, Courseworks, Assignments and Dissertations

Creating Competitive Edge through Continuous Innovation

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This article will provide brief overview about the concept of innovation in business and marketing, the benefits of innovation and the organizational examples of that getting competitive edge through innovation.

Organizations around the world have claimed that they are ‘innovative’ businesses as they are creative (Papers4you.com, 2006). However to gain a competitive edge, it is imperative to realize that innovation always implies one step ahead of creativity where later is only an essential component of innovation. Creativity is merely an ability to combine ideas in a unique way or to associate ideas in uncommon manner , however innovation on the other hand is the ‘process’ of taking a creative idea and turning it into a useful product or service ( Robbins & Coulter, 2002). Such process involves inputs like creative individuals, organization and groups that can carry transformation through creative process and situation to give creative products as outputs (Woodman et al, 1993). Furthermore, it is also important to realize that such process should be on continuous basis as true innovative marketing involves regular efforts to gain real improvements in all dimensions related to products and services (Kotler & Armstrong, 1999).

 

There can be numerous examples of companies that came up with new innovations and get a huge competitive edge and attracted large number of customers (Papers4you.com, 2006). For Instance, years ago, diabetic patients were deprived of tasting sugar in tea or coffee etc. Suddenly low calories sweetener products like ‘Canderal’ came up with an innovative idea to give diabetic and fat conscious patients taste of sugar in various items without disturbing their sugar level. Such products captured market of diabetic patients all over the world. Example of Procter & Gamble’s Liquid Tide is argued as one of the best cases of innovation in US market. Initial endeavors to compete years of Lever Bros market leading liquid detergent product ‘Wisk’ turned out to be huge failure. However by adopting creative idea of adding 12 cleaning agents (that are double than normal) , a dirt trapping molecule in wash water and by giving same color to bottle that is trademark of Tide powdered detergent ( for maintaining brand awareness) and then transforming it into product ‘ Liquid Tide’, P & G challenged many successful years of ‘Wisk’ by capturing equal market share in just 18 months (Kotler & Armstrong, 1999).

 

Apart from getting edge, there are certain other benefits of innovation. It helps in creating flexible and more adaptive business processes with changing business environments, faster and accurate actions are possible as it requires real-time decision making and due to regular analyses and control, it allows companies to better anticipate disruptions in day-to-day business operations that helps in taking proactive and quick measures to improve results (IBM, 2006)

 

Hence it may be concluded that instead of relating innovation with creativity only, organizations can get competitive edge and success if they take innovation as a continuous process of product, services and operations with creativity as a key component.

 

References

 

IBM (2006), ‘Transforming businesses for innovation and improvement’, New York: IBM Corporation

 

Kotler, P & Armstrong, G, (1999), ‘Principles of Marketing’, Eight Edition, New Jersey: Prentice- Hall Inc

 

Papers For You (2006) "C/OM/33. Does innovation necessarily lead to commercial success? ", Available from http://www.coursework4you.co.uk/sprtopem3.htm [19/06/2006]

 

Papers For You (2006) "S/B/86. The changing role of innovation S/B/86. The changing role of innovation", Available from http://www.coursework4you.co.uk/sprtopem3.htm [19/06/2006]

 

Robbins, S, P & Coulter, M, (2002), ‘Management’, Sixth Edition, New Jersey: Prentice- Hall Inc

 

Woodman, R, W, Sawyer, J, E & Griffin, R, W, (1993), ‘Toward a Theory of Organizational Creativity’, Academy of Management Review, April, 1993: 309

S/OM/45. Innovation & Imitation in an Industrial Organization – Pharmaceutical Industry

C/M/485. Knowledge Management and Innovation

E/OM/42. Product Innovation project: Oral-BŪ Triumph™ Profession care™ 9000—power toothbrush

E/OM/38. Innovation at Singapore Airlines

E/OM/32. Innovation at Hewlett-Packard: The Flight of the Kittyhawk

S/OM/32. Innovation: theoretical and practical issues

E/OM/27. Innovation in health care organisations

E/OM/24. Innovation in organisations

P/OM/88. Shopping innovations: history and current trends

P/OM/86. Innovation in Sony Corporation

P/OM/85. Strategic innovations and RyanAirĖs business model

P/OM/83. Innovation in small and large businesses: comparative analysis

P/OM/82. Introducing innovation: comparative analysis of companiesĖ experience

P/M/757. Role of market research in innovation process

P/B/817. Role of innovation in achieving competitive advantage

P/OM/74. Innovation, invention and national innovation systems

P/OM/73. Innovative methods of decision making

P/OM/72. Innovation strategies in utilising core competences: case studies

P/OM/70. Is innovation always good?

P/M/671. Review of theories on innovation and change

P/M/640. Literature review on managing innovation and change

P/OM/65. Innovation: theory and case study of Starbucks

P/OM/61. Managing uncertainty caused by innovation

C/OM/34. Managing innovation and creativity at Sony

P/OM/52. Does a firm always benefit from innovation?

C/OM/33. Does innovation necessarily lead to commercial success?

C/OM/27. Kaizen

P/OM/40. Factors behind innovation

P/OM/36. Role of New product and service development in University degree programmes

S/B/86. The changing role of innovation

C/OM/17. Managing continuous improvement across cultures

C/OM/16. Continuous improvement at Marks and Spencer

C/OM/14. The benefits of continuous improvement

C/B/136. The strategic analysis of Digital angel

C/B/123. Innovativeness in Kao Corporation

P/M/201. Managing of Technological Innovation

P/B/170. Global pharmaceutical industry

P/OM/19. "Innovation is an essential factor in creating and sustaining competitive advantage". Discuss.

S/B/16. Sandvik Management of Innovation & Technical Change

S/B/17. Globe Maintenance Management of Innovation & Technical Change

P/M/30. New Product development (NPD) in to Kitchen towels market: ĄAnti- bacterial tissue, which can be used dry or wet (where it releases an anti-bacterial solution that helps clean difficult stains).

P/B/60. Fordism strategy and innovation

P/M/112. Innovation and Change Management: Case of the Publishing House

C/M/59. Literature review. ORGANISATIONAL CULTURE CHANGE AND CULTURE OF INNOVATION

P/M/116. 'Innovation is an essential factor in creating and sustaining competitive advantage'. Discuss.

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