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Tech Execs Give Innovation Mixed Reviews

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Mr. Roques
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Supply Network Guru
Re: Innovation in small pieces
Mr. Roques   5/28/2013 10:06:43 AM
NO RATINGS

I liked Apple's example because it invalidates what I thought the reason was. 

I was thinking that those companies idea of innovation is not innovative at all. That they are just keeping up with the rest, so if everyone is "innovating", then there's no real competitive advantage. Its just business. 

Himanshugupta
User Rank
Supply Network Guru
Re: Innovation in small pieces
Himanshugupta   5/27/2013 6:12:11 AM
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@elctrnx, most of the companies do not know how to motivate their employees to innovate and those companies who do then unfortunately employees are so deep buried with their normal jobs that it needs extra effort to work on innovation.

But one thing is sure that a lot of innovation is driven by improving the daily jobs. If an employee is happy with what he is doing and do not see anything to be improved in his job is not going to innovate anything.

Himanshugupta
User Rank
Supply Network Guru
Re:
Himanshugupta   5/27/2013 6:06:45 AM
NO RATINGS

@Prabhakar, you are right that companies should do their homework before releasing an innovative product to markets. A lot of innovation end up being cloned or copied by other companies and the parent company do not get the benefit it intends. So probably that's why most execs think that innovation is important to keep the company in hunt buy do not give competitive advantages.

elctrnx_lyf
User Rank
Supply Network Guru
Innovation in small pieces
elctrnx_lyf   5/26/2013 1:38:43 AM
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I believe companies should encourage the culture of innovation and motivate the employees to be innovative in everything do. Many such small innovations could help them to make great products for human kind. Each and every step in striving towards a great product and thought process will pay the dividends in very long term for any company.

prabhakar_deosthali
User Rank
Supply Network Guru
Re:
prabhakar_deosthali   5/23/2013 1:13:31 AM
NO RATINGS

Innovation pays. Only if the inventor company is ready to cash in early with the innovative product sales before the competition jumps in with similar looking technology and product.

 So before unveiling a new innovative idea, the company should do its homework on how the market will respond and what will be the projected sales and how much premium it should charge on the innovative product., organize its supply chain to stock up sufficient quantities of the product to meet the demand created by the aggressive marketing.

By the time the product moves from "premium" to commodity, the company should switch over to the new innovation and keep its competition chasing!

 

 

Tom Murphy
User Rank
Blogger
Innovation and Improvisation
Tom Murphy   5/22/2013 8:44:28 PM
NO RATINGS

Doing something original is important. It not only establishes you as a market leader -- in thought, and maybe profit -- but also gives customers something new that moves the entire industry forward.   It's ugly cousin, improvisation, is the next best thing and can boost profits even more than innovation at times when a company finds itself behind.

With those two strategies, companies can conquer any supply shortage and any adverse risk.



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