Research On The Effects And Importance Of Innovation To The Business - 1100 Words

Research On The Effects And Importance Of Innovation To The Business (Essay Sample) Content: Effect and impact of innovation, flexibility and change on organizational successName:Institution:Course title:Instructor:Date:IntroductionEstablishing a proper business environment requires innovation and change of the organization to raise expectations of the organization. The management should be open to the employee so as to encourage innovation where the employees come up with new ideas and methods of performing duties in the organization. According to Zheng, Yang and McLean (2010 p. 770) success of the organization is realized as innovation reduces the cost of production through the differentiation of products that improve the performance of the organization. Business strategies to improve the information technology in the organization make it possible for the organization to have an influence on the market segment. Flexibility is where the organization can easily adapt to the change in the business environment for competitive advantage through the strategies in the workplace. Innovation, flexibility and changes in the organization ensure that there is an improvement in the performance of the organization.Innovation by the organizationAdvancement of technology has provided the organization to come up with new ways and methods of performing in production for the achievement of set goals. Evanschitzky et al. (2012 p. 27) states that innovation is evident in an organization where there are involvements of employees in decision making as the employees are valued by the organization. In return the employees come up with innovative ideas that are to provide new ways and methods of performing the tasks assigned in the organization and improve the performance of the individual and the corporate. Innovation in the organization increases the volume of production, thus creating an economy of scale for the as the new methods of functioning, reduce the cost and increase the return for the organization. Technology innovation is when the organization us e with the new technology for the purpose of increasing effectiveness and accuracy in production of products and services. Innovation in the organization is vital in the market as the demand and supply changes are effectively improved to increase the sale of the organization. Research and development of products of the organization are improved through the use of the appropriate innovation measures that will have positive impact to the transformation of the business (Zheng, Yang and McLean, 2010 p. 769). The innovative structure of the organization is less formal to allow the employees to come up with a creative idea that will make the business successful in its operation of satisfying customers.Flexible strategiesWhen organizations adapt flexible strategies in the workplace the environment is improved as employees are not restricted in one production unit. This makes it easy for employees to adapt to a particular working environment through the study of the culture that is implied in the organization. Flexibility in the organization balances the operation as employees are able to share a job and together come up with ideas to increase production of the organization (Santos-Vijande, Lopez-Sanchez and Trespalacios, 2012 p. 1083). The employees and management are satisfied with the work through a flexible strategy that is able to be applied to the changing in the economy that affects the business in the long run. Rapid change in technology requires an organization to be flexible as the policies implemented encourage work to increase production. The flexible budget of the organization is necessary so as to adapt to unexpected occurrence during operation. Flexibility in the organization contributes to success through maximization of competitive advantage and increase efficiency in the operation of the organization.Changes in the organizationChanges occur when there is modification in the operation or management of the organization to survive in the dynamic extern al business environment. According to Lengnick-Hall, Beck and Lengnick-Hall (2011 p. 244) external business environment is beyond the control of the organization, thus requires the organization to adapt to the dynamic environment through changing the operation or management. Organizational change is a process where the staffs that are resistant to change are properly convinced about the need for a change for the achievement of the set goals. Change provides competitive advantage to the organization through cost effectiveness of operation and proper management of functions performed in the organization. Customer behavior, government policies and the economy are some drivers for change to come up with a culture that is competitive in the market (Shin, Taylor and Seo, 2012 p. 731). Change employed by the organization should be cost saving through organized structures that increase performance of the organization by increasing the ...