Innovation Process Design Essay Example | Topics and Well Written Essays - 1750 words

blueprint Process Design - Essay ExampleKey Components of Theories Innovation is a common way for companies today to initiate in order for them to reach a proper(postnominal) competitive advantage (Weerawardena & Mavondo, 2011). In order to achieve this, many firms are trying to establish the raze that they need to ensure execution of strategies that are competitive enough to provide them the competitive edge all over the other established firms in their industry or specific niche (Salunke, Weerawardena & McColl-Kennedy, 2011). In many technological-related companies, mental hospital has become the major point of their backup, because that is one of the substantial ways by which they can compete and tear down association among themselves a cutting edge advantage over the other competitors to ensure a composed flow of their operation or achieve a potential market share. At the most specific level, firms that are into innovation or are risks lovers are expected to provide uni que product or service offerings (Cucculelli & Ermini, 2013). In this way, they can offer highly differentiated product or service offerings that take to people. Many technological-based firms today from time to time keep back to produce offerings that are pertly to the market for the luff segments to try and they remarkably eliminate old products in order to introduce success or hazard for the new ones. This is common to take place in the mobile phone industry where old models ordain have to be phased out and leave a path for new products and gain from them. Establishing a new product or a unique one is therefore a form of strategy that a firm must embrace. Strategic business innovation is therefore one of the ultimate moves of technological-based companies today. They want to set a new way for them to be able to provide something that is new that matters a lot to their engineer market. In doing so, a clear business plan must be associated with the goal to innovate. Innovati on is non just a simple process, but a complex one that it requires the most appropriate business model. Prior to the emancipation of this business model, every firm that wishes to go for innovation will therefore have to set a clear business plan for themselves. In this way, they can be guided on what to do next especially in cases when there is a need to involve the right plans. backup plans are integral components of a successful innovation process. After all, it requires substantial planning moments prior to the veridical innovation process. These plans need to be considered because they fuel the essential reaping or development of the organization as far as the concept of innovation is concerned. Innovation therefore is a forward approach that positively aims for advancement and growth (Colombelli, Haned & Le Bas, 2013). Anything that hinders this growth will have to be remarkably considered a distant approach against innovation. The slow approach might have to consider p lans, actions or initiatives that are to produce backward results. In this case, no innovation will be necessary, because innovation as a process of growth development requires more engaged idea to embrace something new or fresh ideas for future enhancement of the business. In this regard, proper orientation of the company concerning their evaluation process is necessary or required because such(prenominal) move will have to ensure the emancipation of the right program or actions to be taken into account. Concerning actions that are allowing companies to move forward with