Principles of Innovation and Continuous Improvement - Desklib

Running head: PRINCIPLES OF INNOVATION AND CONTINUOUS IMPROVEMENT
Principles of Innovation and Continuous Improvement
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PRINCIPLES OF INNOVATION AND CONTINUOUS IMPROVEMENT
Table of Contents
Description.................................................................................................................................2
Science or invention...................................................................................................................4
New product, process or service................................................................................................5
Paradigm shift............................................................................................................................7
Industrialisation..........................................................................................................................8
Environment...............................................................................................................................9
Innovation management...........................................................................................................10
Clusters.....................................................................................................................................12
Innovation and competitiveness...............................................................................................13
Future of the product................................................................................................................15
Reference..................................................................................................................................17

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PRINCIPLES OF INNOVATION AND CONTINUOUS IMPROVEMENT
Description
Innovation is important for organisations to gain a competitive advantage in the
market. As stated by Acs (2002) in the modern world gaining a competitive advantage
require organisations to implement strategies. Therefore, the innovation is an important part
of a strategic implementation that is required for organisations to implement. In this regard, it
can be said that creativity leading to innovation as well as brainstorming is required for
organisations to continue its business in the market.
In this regard, it can be said that the product that is in focus is a smart mirror that can
help in the development of fashion among the people. The categorising of the idea is mainly
to help the people that prefer to shop and possess a high sense of fashion. The smart mirror
can help in bringing about a revolution in the market for shops that have a good reputation in
the market and work on attracting the attention of the customers.
The product can help people to develop a sense of fashion within oneself. The product
can be a replication of the smart phone so that people can choose from a variety of products
in the fashion market. The use of the product can be mainly in the shops so that people can
have a wide variety of clothing choices as well as choices related to cosmetics. The clothes
chosen by the people are directly fit as a test for the people. The people can scroll through a
number of items and at the same time identify the best item in terms of fitting, design, and
colour.
It can help the people to choose from a variety of brands and provide promotion to the
small brands, as the designs made by the small brands are included as options in the smart
mirror. Upon selecting the product that suits their needs, the people can provide payment
directly to the shops either by using cash or by credit card. This can be done by selecting the

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PRINCIPLES OF INNOVATION AND CONTINUOUS IMPROVEMENT
mode of payment so that complexity can be avoided and people can have a digitalised
experience while shopping.
The smart mirror can help to provide a new experience in the shopping department
and people can get themselves well acquainted with the use of the smart mirror as it is
considered as same use as a smart phone. Therefore, it can be said that the process of idea and
implementation of the product is one of the challenging as well as innovative process that can
be applied in the organisations.
The idea process that is generated in the development of the product can be
considered from gaining impetus from the application of smart phones. According to Betz
(2003), managing technical innovation is one of the most important aspects that every
organisation needs to apply in order to gain a competitive market in the business. Hence,
ideas generated for the implementation of the smart mirror can be done by conducting a
brainstorming session in which the applications that need to be included can be discussed.
Therefore, it can be said that the ideas of the smart mirror is generated from a variety
of components including the method of using smart phones and the payment method that is
applied while purchasing online clothes. The fact that the smart mirror can help in choosing
from clothes as well as cosmetics provide an advantage for the people. It can be said that the
idea generated for the implementation of the smart mirror is directed more towards providing
sustainability in the market and ensuring that digitalisation takes place in every industry.
The idea generated can help in attracting more people to visit the physical stores so
that they can purchase the products by choosing from a wide variety of brands. Thus, the
image of the physical stores can improve and the stores can provide a competition to the
online stores in terms of providing a huge amount of choices for the customers. Therefore,