Compose a 4000 words assignment on innovation in organization. Needs to be plagiarism free!
Compose a 4000 words assignment on innovation in organization. Needs to be plagiarism free! Moreover, several studies have also highlighted that innovative organizations perform better than the organizations which are non-innovative. However, innovation cannot be an external phenomenon. rather it is purely internal. For a company to get success depending on innovation, it is not sufficient to bring new ideas or products that change the entire market landscape, but the organization must have the ability to absorb the innovation (Agarwal, Erramilli and Dev, 2003. Betz, 2003). The ability of an organization to absorb innovation is critical towards the success of a company. According to Van de Ven, Polley and Venkataraman (1999) “organizational creation are fundamental to the process of innovation”. The extent to which an organization innovates is the pre-state for the efficient utilization of the new technologies and resources. The introduction of new technology often tenders complex challenges and opportunities for the organizations that in turn lead to changes in the management practices and the emergence of new organizational forms. As a result of that technological and organizational innovation are often stated as intertwined. Schumpeter (1950) also emphasized that innovation in the form of a new product or new process often brings organizational changes and can even be the cause of creative destruction for organizations (Lam, 2004). This study examines the extent of innovation in a chosen organization. In this context, the study will put emphasis on the particular innovation aimed by the organization to deliver to its users, the other possible solutions were considered, the main obstacles and resistance that were met in developing the innovation, networks that were used by actors within and outside the organisation in order to generate, support, and implement the innovation, the procedures that were in place in the organisation to facilitate the selection and development of innovations and the reasons for the success or failure of the innovation. Brief Synopsis of the Company The company chosen for this project is a corporate gift design and manufacturing company. The company currently caters to the domain of innovation of process optimization. Understanding the situation of the market, the company decided to bring some kind of innovation in their system as they consider innovation as one of the major business drivers and is a source of competitive advantage for the firms. Evaluation of product innovation and process innovation, the company identified that the first task is to bring process innovation and simultaneously focus on innovative and creative services. In the recent past, the company has identified certain loopholes in their system of operation and considers those loopholes to be the reason for their low market share. The company also identified that there are several steps involved in closing a call and that is affecting the company in the form of increased lead time and declining market share. The subsequent steps will identify the different factors of the company that are mentioned above. .