Functions and Process of Innovation

Running Head: INNOVATION PLAN OF SONY
Innovation Plan of Sony
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Introduction
The following report is a brief study about the innovation process and functioning
associated with the respective organization Sony in the market where the key objective of the
report is to understand and evaluate the future innovation strategies and understand the current
market operation related to Sony. Sony electronics is considered to be one of the highly
competitive and strong sectors related to functioning associated with Sony America. The
company in the market has enhanced adaptive and advanced growth since 1960. As a part of
adopting their innovative strategies in the market and in order to remain more competitive and
sustainable under all terms, the core strategy adopted by the company under this respective part
was to announce a long term agreement of the organization with Intel Corporation.
. The report concentrates under the area of 4Ps associated with the organization in their
innovation operation along with creating a link with the role of company’s leadership,
organizational culture and employee’s coordination in the respective innovation strategy. There
are some certain recommendation and conclusions included in the study to make the report more
effective and understanding.
Discussion
Difference between Invention and Innovation (Sony)
According to the operational aspect that is associated with the market operation of the
respective organization, it is considered to be an understandable part, for an organization

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invention generally means the system of introducing a new and innovative product in the market
for the first time.
On the other hand, operation prospective associated with the system of innovation means
certain adaptive and strong development strategies which are introduced to the existing product
in the market.
As compared to the market functioning and innovation strategies adopted by the
respective organization Sony in their international market operation for example it can be that the
future innovation strategy associated with the respective organization is completely based under
the area of manufacturing hardware in the market (King and Baatartogtokh 2015). This is
considered to be one of the core initiatives undertaken under the organizations development and
research part. In the market competitive era Sony is considered to be the market leader under the
area of implementing and developing new and advanced innovative strategies within the
organization under international market operation where the company generally gives more
emphasis in the part of imaginations rather than introducing the product directly to the market.
As compared to the part of invention strategies adopted within the internal environment
of the company, it can be stated that after the process of adopting strong relationship with Intel
Corporation, the company was successful in the area of introducing innovative DVD player and
DVD in the market which changed the standing of the company in their market performance as
whole. On the other hand giving more emphasis one the digital technology was considered to be
the core innovative strategy, the company is planning to implement and adopt in the future.

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Innovation plan and trend identification of BMW and Teknion
Compared to the market operation associated with other companies Teknion and BMW in
the year 2002 they respective companies were rewarded for the part of corporate innovators for
adopting outstanding innovative strategies in the market during the respective year. The award
was offered form the side of management association and Product development teams in the
international market (Kodama and Shibata 2015). This respective Award recognition was offered
only to those companies which have successfully demonstrated innovative and sustainable
excellence under the area of profitable commercialization and development of new services and
products in their global market functioning.
In order to evaluate several trends that are associated with the workplace, both the
companies use the system of VOC (Voice of Customer) strategy where this helps them under the
part of understanding certain factors that are associated with the workplace patterns along with
adopting a clear understanding in the part of analyzing certain system of preference related to the
customers (Cecere, Corrocher and Battaglia 2015. After adopting the VOC strategy, the findings
are translated in to new ideas and proper implementation of these ideas in made on the product.
This helps the company under the area of bringing a rapid revenue increase along with the
system of fulfilling the wants and needs of customers associated with the market under all terms.