Sbe 330 Week 4 Case Study 1

363 Words2 Pages
Innovation is usually a catalyst that spreads change and adaptation throughout the industries it touches. Like a virus it moves from one industry to other helping to create the economic system stronger. Because early adaptors of innovation make market advantages such strategic incorporations are sought, accustomed and capitalized on. Great ideas create great interest and stretch quickly even when new innovations are concealed by the industries that develop them. A large number of people understand the need to understand and adopt new innovations when they are beneficial but not many understand what happens when such innovations do not succeed. Researchers know that such letdown is important knowledge because it can either add to the next great success or give key potholes to avoid when developing their own products or services. In either case success and failure equally have a beneficial impact on the development of the economic market. Even when innovations do not succeed organizations they would do well to attempt to gather this information in an attempt to incorporate such findings within their own innovative processes. At times such failures can direct to higher levels of development and better understanding at less cost to the researching organizations. No matter how strongly an organization tries to keep both successful and unsuccessful innovations undisclosed the information will make its way through informal networks and impact the market. Competitors energetically seek this information in order to incorporate and manipulate their markets for positive results. The business strategy should be centered on finding innovative solutions of their clients’/customers’ problems. From proactively solving these problems, one can build various business opportunities. Strategies need to take in looking for new and different ways to solve problems for clients and new
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