Fed EX

12 Pages 2943 Words

ituents
· Increasing complexity of the environment
To be successful under the condition of new economy, innovation is the key. The organizations face only two choices: innovate or evaporate.

2. The power of innovation is the power of competitive advantage and power of winning

There are four types of innovation:
Product innovation: results in new products or service or in enhancements to old products or services.
Process innovation: results in improved processes within the organization-for example, in operations, human resource management, or finance. It focuses on improving effectiveness and efficiency.
Marketing innovation: is related to the marketing functions of promotion, pricing, and distribution, as well as to product functions other than product development 9for example, packaging).
Management innovation: improve the way the organization is managed.

All the innovation is aim at gaining the competitive advantage in the market. There are two power roles that innovation could play in the organization:
· Competitive advantage protection: a strategic approach for preempting, protecting against, or jumping ahead of competition. Competitive advantage protection enables a company to accelerate growth, experience incremental margin enhancement, and build additional core competency, which bolters competitive advantage.
· Shareholder, employee, customer satisfaction:
o Shareholders: stock price goes up and/or dividends increase
o Employees: pride in company deepens, bonuses increase, careers advance, compensation accelerates, job security solidifies, and personal satisfaction from job is enhanced
o Customers: products satisfy needs and solve problems, products offer benefits that exceed competitive offerings, value is perceived by customers, and more customers buy more products

3. Technology is the enabler for all kinds of innovations

It is the development of technology makes the information accessible, c...