References Fastcompany

Running head: DISCUSSION POST
DISCUSSION POST
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DISCUSSION POST
Discussion Post
Innovation
The innovation as a concept can be essentially described as the development and
creation of various new ideas, creative thoughts, new imaginations in order to improve a
scenario or to come up with an innovation which shall be beneficial for all the parties as
present. According to Kotler et al. (2018), the innovation is viewed as the application of
better solutions which assist in meeting new requirements for the purpose of the business and
assists in meeting with unarticulated needs or the existing conditions of the market. Snell,
Bateman and Konopaske (2015), describes Innovation as an essential aspect for long term
organizational success.
Importance of Innovation
An organization strives in a competitive environment and with relation to this, it is
essential for the firms to understand that in order to be able to extend the market share, the
firm would be required to come up with innovative solutions. According to Rothaermel
(2017) , a firm needs to regularly come up with innovative solutions and products for the
target audience in order to gain a better market share. As the price is not a competitive factor
anymore, it is crucial to ensure that, the enterprise is being able to engage in the innovation
and related aspects.
Review of article
The article on the Top 10 most innovative companies covers a story which describes
the topmost innovative enterprises present around the globe in the year 2018 which have been
able to accelerate growth and accumulate a large market share (Fastcompany.com ,2019).
The article states a list of 10 most innovative enterprises and in the way these companies have