Innovation and Change Management Models | Report
Added on -2019-09-23
| 15 pages
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Running head: Innovation Innovation
Innovation Table of ContentsIntroduction.................................................................................................................................................3Different sources of innovation...................................................................................................................3Impact on the organization of the different sources of innovation...............................................................7Reasons why 70% change initiatives may fail.............................................................................................9Conclusion.................................................................................................................................................13References.................................................................................................................................................142
Innovation IntroductionInnovation is a new idea, new imagination and creative thoughts in form of method andtechnique. The main purpose of this report is to draw and outline a brief information about thedifferent sources of innovation and change management models. Along with this, the paperdiscusses how various sources of innovation impact on the organization. Burberry Company hasbeen chosen in the task to evaluate the effects of several sources of innovation. Burberry is abiggest luxury fashion house which was incorporated in 1856 in London, England [ CITATIONBur19 \l 2057 ]. The vision of the company is to establish an effective position in luxury fashion.The firm uses innovative and advanced technologies to compete with competitors. Burberryprovides fashionable products like sunglasses, fragrances, accessories to the customers. Thereport also discusses the reasons of resistance to change. More detail of the task has beenelaborated below. Different sources of innovation Innovation is not just revealed by initiating or introducing new ideas, techniques andmethods. Innovation may be defined as a dynamic process that includes several activities andinitiatives to uncover new and innovative ways to do things. It is stated that innovation is a fardeeper process than basically expansion, enhancement and the changes it brings is further farlong lasting and full of effects. The different sources of innovation are discussed below[ CITATION Inn19 \l 2057 ]. Unexpected: It is stated that modernization can take place unpredictably and ineffectively. Thiscan occur by chance someone may just stagger upon new product or idea. There is a long and3
Innovation dynamic list of unanticipated innovations in human history. For example, fire is a considered anunpredicted innovation that humans stumbled upon. Another example is detonate. The mainbenefit of this innovation is that unexpected success and competitive advantage can be takenwith the help of this innovation. On the other hand, depth analysis is needed which is one of thebiggest limitations of unexpected innovation [ CITATION Che141 \l 2057 ].Incongruities: When the need and requirement are incongruent with the supply, innovation maybe born. In an attempt to handle and resolve the presenting incongruities people might innovate.For example, the population of cars increased there was a scarcity of parking region. To resolvethe absurdity between the parking scarcity and parking area, the smart and innovative car wasborn. It is worth analyzed that smart and innovative car is a small car that can suitable in smallspaces. Incongruities can be a significant and unique foundation of innovation. It is significantlyin the human nature to try to fill the incongruities he watches around him. The biggest advantageof this innovation is that it improves and enhances the economic performance. It provides profitand revenue because it is exercised by the tide. This innovation is failed to analyze that whatactions might be missing in how customers use specific goods and services that may render anopportunity for innovation. It is a leading limitation of incongruity. Market structure: An accessible and effective structure could further give rise to options forinnovation. For example, this is how Google was born. Google formulated the search steamengine market. Before Google the search mechanism was not as unique and perfect and Googlebrought all of it in sort. There was ample of information and facts scattered over the World WideWeb. It is evident that Google made this fact and information searchable and effective.Therefore, the World Wide Web gave grow to a market formation where a search mechanismsuch as Google could thrive and expand. The World Wide Web paved the innovative and4
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