innovation in your company

Red Smith By Red Smith, 1st Sep 2015 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Business>Analysis

... innovation system as engine....
...we need to innovate to deal with all competitors and improve our performance...

we need to innovate to deal with all competitors and improve our performance

Today, proper management of innovation and technology is one of the keys to business success.

The technology used by a company, can be generated internally, through research activities, or acquired abroad. In any case, if the company wants to achieve and maintain a technological advantage to support its competitiveness and its dominant position in the market, it should encourage research and self-development; Since the acquisition of technology offered in the market is available to any competitor, and therefore does not usually provide the company with additional advantages.

The complexity and speed of technological changes make it physically impossible that a company can generate by itself all the technology it needs, while the assimilation of advanced technologies is extremely difficult without a capacity own research and development.

Innovation is defined as "the introduction of a novelty in the production process, whatever its magnitude and origin, for the most efficient achievement of economic goals." Other authors define as "a process of combining technical opportunities with requirements, integrating a technology package that aims to introduce or modify products or processes in the production sector and their subsequent commercialization."

We can find many definitions for innovation, but the goal is clear, with innovation we seek to achieve and maintain competitive advantage.

If we aim to develop and grow an existing or new business, innovation alone is not enough without the proper environmental conditions are created, such as adequate financial resources and a close relationship between science and technology led to the introduction of new products or services on the market; therefore, the body of knowledge and success of the business, will form a series of elements that complement and enhance the capabilities of a company.

Thus we find necessary the need to combine innovation and technological development, showing that the development capacity of a company depends on adapting quickly to changes in the environment, especially in the technology sector, and even have a research department and development to bring about changes and favorable conditions for itself.

We have to implement in our organizations, a set of scientific, technological, financial and commercial activities that allow us:

Introducing new or improved products or services on the domestic or foreign market
Implement new or improved production processes or procedures
Introduce and validate new or improved management techniques and organizational systems that can be applied in every department of our companies.
Monitor the environment for threats and opportunities
Build organizational capacity for innovation and technological development

On these issues it is essential to improve cultural factors and motivations of our company, that is, we need to create a culture of innovation.

This model of innovation and technology, and technological exploitation should help us to efficiently manage resources and intellectual capital and achieve effectively the objectives(short and long term); we must achieve a technologically advanced and innovative enterprise, with scientific ability and vision and equipped with the necessary skills to invent our own future on the basis of sustainability with a renewed entrepreneurial, knowledge-based, innovation system as engine.

We need to innovate to deal with all competitors and improve our performance.

This innovation must be sustainable, must make your business sustainable and must get our prospective businesses work efficiently.

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