17 Oct 2022

71

Managing Innovation: The Key to Business Success

Format: APA

Academic level: High School

Paper type: Essay (Any Type)

Words: 557

Pages: 2

Downloads: 0

Technology is an essential component in most organization’s processes, continuous or high obtainability of information technology is critical to an organization’s survival. Continuity and change dimensions are essential in enhancing an organization’s competitive advantage. In having a positive competitive advantage, innovation is key to an organization to enhance the outset of innovative ideas enabling the creation of new devices and the development of new markets. To enable this, it requires the integration of various business processes, continuity, and change scopes that highly co-exist. 

Technology processes are essential in innovation. It helps in the identification of the anticipated development path of a firm’s technological efforts and abilities, necessitating processes to acclimate incessantly to suit development needs while still meeting necessities modeled by continuous changes (Bhat, 2010) . Technological capabilities play essential roles in gaining innovation development capabilities needed to sustain the competitive advantages of an organization. Through innovation and for organizations to achieve an important competitive advantage, adopting innovations and technologies relating specifically to the organization’s deliberate business objectives is key to this performance. 

It’s time to jumpstart your paper!

Delegate your assignment to our experts and they will do the rest.

Get custom essay

The rate of innovation in an organization indicates its capacity to exploit the progress in technology. By concentrating on technological capabilities, with competition intensifying within the global market, and the life-cycle of products and technologies significantly becoming shorter, a firm’s capacity to create new commercially effective products fortifies is a success (Bhat, 2010) . In enhancing technological continuity in dealing with complexity posed by new products and processes, organizations require wide innovations calling for diverse teams possessing assorted cognitive styles, knowledge bases, and experiences. 

Technological continuity is also expressed through the flexibility of an organization and its entrepreneurial model for innovations. This strategy of mode making offers a vibrant and comprehensive vision or course, a degree of deliberateness, and of incorporation of approaches with each other and the environment allowing the suppleness to elaborate and rephrase the vision. 

Technology enhances networking amongst organizations. Technology is essential in enabling the continuity of networking, allowing people to learn and share knowledge through different platforms. Dynamic networking capabilities of an organization enables it to achieve superior longstanding organizational performance (Bhat, 2010) . Focusing on external technology relating to inputs covering scientific as well as technology progresses and society needs, instigating from several bases such as clients, competitors, partners, and suppliers, among others, enables employers to use external expertise within the organization. 

Digital continuity in information technology strategies in an organization is essential in supporting business continuity through planning on its ability to using digital information in the long term. Business endurance encompasses plans involving the restoration of key digital information access following an incident, and on the other hand, it also helps in mitigating risks associated with the degradation of an organization’s digital data over time through changes (Bhat, 2010) . Additionally, it also helps in supporting government agendas. Information technology reflects how a government manages its services, produces, and shares information. Information consumption is rapidly changing with governments emphasizing transparency and openness hence reflecting the need to publish public data in increasing amounts. It creates the need for managing the digital continuity of the generated information, ensuring that finding, interrogating, trusting, sharing, re-using, and publishing is as required. Ensuring digital principles in an organization’s information communication strategies ensures that organizations take steps in ensuring information usability. 

In conclusion, technology is essential in every business, and failure to adopt the necessary technology can be fatal to its performance. Continuity is essential in managing technology changes to enable innovation within an organization. Technology not only keeps competitors on the check but also allows individuals to communicate and share knowledge using different platforms. The shared knowledge leads to increased expertise among employees enabling them to be flexible in working towards the vision of an organization. 

References 

Bhat, J. (2010). Managing Innovation : Understanding How Continuity and Change are Interlinked. Global Journal Of Flexible Systems Management, 11(1-2), 63-73. https://doi.org/10.1007/bf03396579 

Illustration
Cite this page

Select style:

Reference

StudyBounty. (2023, September 15). Managing Innovation: The Key to Business Success.
https://studybounty.com/managing-innovation-the-key-to-business-success-essay

illustration

Related essays

We post free essay examples for college on a regular basis. Stay in the know!

17 Sep 2023
Technology

Implementation Roadmap

AT&T is a telecommunication company that has a platform for selling phones and provision of internet and other services. Implementation of big data analytics in the company requires the completion of a particular...

Words: 545

Pages: 2

Views: 69

17 Sep 2023
Technology

Big Data in Fraud Detection: How It is Used and What to Expect

Chameleon Carriers The replication of trucking companies and trucks under different business names has grown rampant, as the Federal Motor Carrier Safety Administration (FMCSA) program reports. A large...

Words: 508

Pages: 2

Views: 436

17 Sep 2023
Technology

The 5G Networks: How They Work, and What They Mean for the Future

The world of technology is rapidly developing with the reliance of the internet at its core. 4G has been the primary platform of the internet but based on the slow speed, and the high dependence of technology has led...

Words: 284

Pages: 1

Views: 111

17 Sep 2023
Technology

How to Write a Successful Business Case

A successful business case is based on a need. One of the most disturbing problems in the health sector is cybercrime. We intend to develop a strategy that will leverage IT-based techniques and measures to reduce...

Words: 263

Pages: 1

Views: 62

17 Sep 2023
Technology

The 5nm Transistor: The Future of Computing

The November 16th, 1904 invention of the vacuum tube was the humble beginning of the modern-day transistor. The first working transistors were developed at Bell Labs by William Shockley, John Bardeen, and Walter...

Words: 2221

Pages: 4

Views: 55

17 Sep 2023
Technology

Wireless Communication Technologies

Wireless communication taken analogically simply refers to the channel of telephony communication that does not apply the use of wires (Bose, 2010) . Such a channel makes use of electromagnetic waves available in the...

Words: 1046

Pages: 4

Views: 158

illustration

Running out of time?

Entrust your assignment to proficient writers and receive TOP-quality paper before the deadline is over.

Illustration