Literature Review on International Business and Innovation

This assignment requires a thorough analysis of the literature on international business and innovation. It involves reviewing articles from various journals, including Journal of World Business, Business Process Management Journal, and Journal of Knowledge Management. The review should cover topics such as open innovation, knowledge management, and entrepreneurship in the context of international business. The assignment aims to provide an understanding of the current state of research in this field and identify gaps for future studies.

TECHNOLOGICAL
ADVANCEMENT AND
INNOVATION IN
TOYOTA

Table of Contents
ABSTRACT.....................................................................................................................................1
INTRODUCTION...........................................................................................................................1
THEORETICAL FRAMEWORK...................................................................................................2
EMPIRICAL FRAMEWORK.........................................................................................................4
SUMMARY ..................................................................................................................................14
REFERENCES..............................................................................................................................15

·ABSTRACT
The present study is based on innovation in auto mobile industry. The organization
chosen is Toyota for the present research. Study highlights the fact about how the auto-motive
bring innovation and how they manage that in their organizations. Report contains critical
analysis of managing innovation in companies. Organizations use technological advancement to
gain competitive advantage from other firms. Innovation is must for the companies that need to
increase their market share and attract customer's. In this study the main aim was to find that
how businesses build and manage innovation in their organizations. Companies face many
challenges such as problem of resources likes cost, then resistance as employee's and employer
resist accepting change. So the company needs to overcome every challenge in order to grow.
The study is based on secondary research, every data is collected after analysing research paper
of different authors. New technological advancement are brought in Toyota like lean
manufacturing.
·
·INTRODUCTION
An individual who possess the capabilities to develop innovative products, as per the
dynamic demand of the market. Innovation refers to introducing new product or service or better
than it was before. Innovation can be defined as change that has the ability to develop new
magnitude of performance. This refers to something new, creative or an application that will
provide better solution that meet new requirements. Innovation can be in process, service,
technology that will be offered to market, society and government. Entrepreneurship is a process
of creating and running a business, which is primarily a small enterprise and individual who
creates it, is said to be an entrepreneur(Prajogo, 2016). Individual possess such abilities to
develop and manage the business and bear risk related to new business. Entrepreneurship &
Innovation are basic necessity for building successful venture.
Toyota Motor Manufacturing Ltd was established in years 1989 in UK. The company is
headquartered in Derbyshire, England. Toyota is the 6th largest organization in the world in
terms of revenue revenues. The company is world's biggest leader as per sales of hybrid electric
vehicle. It is listed on London Stock Exchange, New York Stock Exchange & Toyota Stock
Exchange. It deals in automotive and assemble cars, as the first car assembled was Carina E. The
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total investment of 2.75 billion in the manufacturing plant in UK, and total of 3000 people are
employed.
The report will highlight about the innovation in Toyota and how they manage it. Further
it will describe the challenges the company faced while building & managing the innovation. At
last a reflective analysis will help in identifying the key attributes from innovation.
·THEORETICAL FRAMEWORK
Innovation is the process that involves various activities to cover new source to do the things. It
is an Creative thoughts, new ideas, new imagination in form of method.
Diffusion of innovation theory- It is a hypothesis outline that new technology and other
advancements spread throughout culture and society, This theory try to tell about how new ideas
and practices adopted, with the timelines spread out over the long period. The way innovation
are communicated to unique part of the subjective and society that associated with innovation
are essential factors and how fast diffusion occurs(Piperopoulos, 2016). And factors that affect
the rate innovation diffusion that include mix of rural to urban population within society level of
education, society and extent of industry and development. Unique society are likely to have
different types of the innovation vary. For example- society adopt internet as compare to auto-
mobile due to cost.
Technological innovation is extended concept of an innovation. As innovation is well-defined
concept, It has huge meaning to lot of people and specially understanding in numerous in
business and academic word. Whereas innovation refers the additional steps to develop new
product and services in the public or in the market place that fulfil unaddressed wants or to solve
the issues tat was not in the past. However, technology innovation try to focus on technological
aspects of the service or product instead of covering the overall firm business model. It is
essential to clear that innovation not driven by the technology.
For the survival of the business in a world where every thing being digitalized , where business
is transferring themselves at lighting-fast pace. And are not the competitor that turning to an
digital transformation. Business partners, customers and employees contributing their share as
demanding faster, simpler and for more personalized interaction – accessible anytime through
the network and their choosing device(Wagner, 2017). It becomes clear to adopting the new
technology that will pill away for the competitors by increasing in the performance gap. When
solving the unique difficult challenges or bringing the new corporate goal to life, it also built
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fresh capability on apex standard platform and technology that is use ti deliver different value to
stakeholders. From discovery to an delivery, Business innovate and deliver tailored, and fully
maintained application by follow stream lined that includes.
Exploration workshops:-
It is engaged in design thinking , where innovators and stakeholders tap into curiosity and look
forward and what they think that is possible to discover opportunity that is available to business
and translate idea.
Innovation sprints:-
It is where every thing that discover can be used to be zero on the exact of business needs
and direction. Fir that research is conducted and concept are made in series of iterative
innovation to faster device journey that reflects users profiles and person. Where process and
interaction tested with mock-ups and wireframes(Zhou, Lazonick and Sun, 2016).
Innovations project:-
Innovation concepts has to be built during innovation sprints and are transferred to
productive solution that is ready to deployed on-promises, cloud or in hybrid environment and
also tightly integrated with stable, standard solution. Through flexibility and transparency of
agile development that consistently revolve around users, as innovators develop different
software solution that use the latest technology and can produce new value early and often.
Service for support, continuous improvement and operation:
Business leverages where the resources to protect and to run an individual solution over
long term. Where it chooses the right option that feed the need and scale their business and
technical landscape. By taking an advantage of same unified support cloud operation centre and
infrastructure, as software provider(Zhou, Lazonick and Sun, 2016). The company real the
benefits of raised operational stability, better innovation cycle and reduced operating cost.
Improve sales and customer relation
If the company fail to improve the products and services that can put the company at risk of
losing their consumer to more innovative competitors. And when the company invest money on
innovation and technology than the customer will come to know that the firm bring the extra
value bringing. And that helps the organization to translate into more sales of the products of
the company in the market.
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Reduce waste and cost:
Innovation and technology help the business to reduce the waste and also leave better
positioned to focus on long term goals, instead of always putting out an fire. Whereas Innovative
BDC client implemented operational efficiency changes such as eliminating production
bottlenecks, order processing and reducing the machinery and employee idle time. The goal is to
lookout to reduce the waste(Zhou, Lazonick and Sun, 2016). That can bring lot of benefits –
better profit margin, lower cost, increased competitiveness and improved the customer services.
And to identify such innovation with the help of efficiency expert.
Boost the market position
Innovation and technology help to boost the market position as it helps to anticipate the market
changes faster and get ahead of an opportunity, so there is no need to react to an shift. And also
find to differentiate company from the competition. Through continuously analyses of market
such innovation can come by listening to supplier customer and advisor and to find out what
competitors are doing in order to spot opportunity and try to jump over them. And through
technology it helps to find fresh idea for the business.
Improve employee relations
technology and innovative workplace stimulating for an employee. By cultivating pride
in product and desire for an company to be a firm leader and reduce workplace turnover and
boost an productivity. As employees are more often best source of ideas that can help in turn
can lead to more innovation success. But be sure to listen to the employees of their company and
ask for feedback regarding the innovation in all area of business, including products
improvement, marketing and efficiency. So that they also feel that the company giving value to
them and which motivate and improve the relation between the employee at their workplace.
·EMPIRICAL FRAMEWORK
Critically analysis the management of innovation as well as technology transfer as a core
business process
Management of innovation
According to the view of Biemans, (2018) , Innovation management is a process of introducing
new things and developing business in one way or other. There are endless variety of different
kinds of innovation which becomes the root cause for many disagreements related to the
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innovation. There are three key aspect of innovation management such as: capabilities,
structures, organisation structure. Capabilities are considered as the umbrella term which is used
to cover various abilities as well as resources for the Toyota Company. It mainly focuses on
creating and managing innovation within an organization. The capabilities revolve around
people as innovation highly rely on the capacity of both individuals as well as teams. It covers
the abilities, practical skills and unique insights of the Toyota company. It also focuses on the
areas such as tactic knowledge of the company.
Further explained by Blind, (2016), the disparity between the structures as well as
capabilities is that structures allows effective use of the said capabilities. Organisational structure
considers as one of the most vital key here. Teams required to be move fast as well as adapt their
new environment. To make the decisions independent of the traditional ways. Also, if structure
enables effective use of the capabilities than culture allows capabilities that are related to the
people. Through the right kind of innovative culture Toyota company. It provides quick learning
as well as experiments.
Importance of innovation
As explained by Bower, (2018)Innovation helps in creating more ideas, products and services
for business processes. It can implement new ideas, create dynamic products as well as can also
improve overall service quality. It acts as a catalyst and also enhance the business grow rapidly
and assist the Toyota company within the marketplace. Through innovation change in the
business model and also make changes to deliver best product as well as services. this can also
enhance culture of innovation and also enhance the likelihood of the company's business and
creates more well organised possess that comes in better productivity as well as performance. it
can easily solve various kinds of problems because there are many creative problems needs
creative answers. To increase productivity such as in order to work smarter there is a need of the
creative thinking, for that focus on things what needs to be cut out and what should be
streamline. In business there is always preferred to test the new views and ideas and the
combination of ideas make the things more productive and hence increases the productivity.
When company like Toyota thinks innovatively, then it becomes very easy to beat the
competition within the market. All there is a need of a little creativeness and also comes with the
right marketing decision. ln order to achieve success Toyota, the company needs innovative
ideas as well as create a new brand, develop it rapidly. Once company can develop unique
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characteristics within their business then it can survive for that innovate a market plan that can
suits the personality of business and it will assist to make a unique identity among the
consumers of the Toyota.
Issues of innovation in Business
As per the view of the Cetindamar, Phaal and Probert, (2016) ), innovative process is not
always smooth . It needs a particular environment, so that public involved are encouraged and
enabled such that company can generate more innovative ideas freely. it is vital for the growth
of the innovation growth as well as success.
Missed innovation Strategy- One of the vital elements of taking the Toyota company from an
emerging brand to well established brand is known as the innovation strategy. Innovation
strategy assist to define direction of innovation as well as implementation of operations. it allows
that business remains continuous proactive rather than reactive.
staff members are not motivated
As per the view of Chatterji, (2016), number of the managers of the Toyota believed that
innovation creates more hindrance rather than helps in the company when it comes to about their
focus. they fear that innovation will distract the employees for the daily activities. Staff
members need freedom to express new ideas as well as reviews. They also try new ideas. when
staff members feel empowered they needs motivation.
Recent and current trends of innovation
As elaborate by Coccia, (2017), benefits of together working and concept of open
innovation broadly covers various partners firstly it covers internal crowdsourcing. It allows
Toyota company to access knowledge of their staff members and appraise their inputs as well.
Corporate venturing, acquisition and mergers and also deeper partnership of the company like
Toyota as it assist the better ways to provide fresh innovative points and also creative
thinking .thirdly, Companies like Toyota working together with the educational institutions so
that they get the young people innovative ideas. it is growing popularity with the rise of the open
movement of science Abdelal, Blyth. and Parsons, (2015) Marketing mix of Toyota evaluates
the brands which covers the 4 Ps ( Product,Price,Place ,Promotion).product -Toyota has a
diverse range of cars. It has 43 car models with various categories. Price-Toyota main goal is to
provide good quality of products at affordable prices. Place- Toyota uses special events,
exhibition centres as well as various showroom, for the distribution of their product. Promotion-
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They advertise their product through the helps of social media,T.v. it also promotes public
relations such as Toyota green program for the initiative of the reduction of green house
emission .Baron, (2016).
As explained by Martinez-Conesa, Soto-Acosta and Carayannis, (2017)), amount of
innovation is continuously rise and also innovators should concentrate more on the solving
problems as well as more meaning less applications. it demands more empathy and passion to
concentrate on the innovation efforts in solving the challenges of global. it is difficult in time
consuming as well as expensive. These are the problems that can vary from environmental
problems such as waste management, sustainable economic growth and also social issues like
poverty and inequality Howsley, Gradt. and Delgado,(2015). As on the prominent hot topic in
the innovation that is naturally technology. it covers various concepts: the main aim is to assist
spare from mental tasks or enable human brain to exceed beyond its capabilities. first of all
established technologies that are used to increase the innovation process such as related
communication more transparent as well as inclusive. Business model of Toyota defines the
operational principle where it can manage the operation process through 4Vs. Volume process- it
enables Toyota to do systematization of activities as Toyota manufactures large number of
vehicles so here there is a higher degree of repetition process. Variety of processes-it allows the
company to carefully chooses a variety regarding to the marketing demands as well as
operational efficiency Zedtwitz and et.al., (2015). Variation in process- it enables Toyota to
allocate resource in Oder to meet the changing demands of the customers. Visibility in process -
it is considered as the lag of time between the production and consumption. Toyota considerably
a low visibility process as most of its operation process is 'factory like'.
The innovation process in technology
As cited by Noe and et.al., (2017) view of innovation is known as the core process of a
company. it offers that how world creates as well as delivers offering. As innovation is an
activity which is associated with the growth as well as survival. There is mention below Process
to al the firms such as Toyota.
Searching-Scanning the internal and external environment and also processing
appropriate decide on signals such as threats and opportunity for change.
selecting - Deciding on the starting point of the strategic view that how a company can
best develop on the signals to respond on Hartsfield, Johansen. and Knight, (2017).
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Implementing - interpret the potential trigger idea and views into new as well as
launching internal as well as external market. as making this is not consider as the single event
but it needed attention also.
Acquiring the knowledge as well as resources that allow the innovation such as creating
something new ad also acquiring knowledge from other source via technology transfer.
as explained by Schmitz and et.al., (2017)) Executing the project which needs extensive
problem solving 's conditions.
as explained by Von Zedtwitz and et.al., (2015)launching is know as the managing and
innovation other the initial process.
sustaining adoption and also use with the long term as the original ideas as well as changing it.-
re-innovation.
Learning-opportunity taken by the enterprises are not always take but they are take to
learn from progression through this cycle so that they can improve the ways it can managed.
The challenges faces by the Toyota company gives the good solution to the problems that
are renewal Lawton,(2017).for example large companies creates the solutions which work on
the heavy activities formal R&D patent searching. Heavy engineering companies are also
involved products such as power plant that design intensively as well as critically dependent on
the system integration and project management. Despite of these variations various underlying
pattern of innovation phases remains constant.
As per the view of Von Zedtwitz and et.al., (2015)Technology helps the people to
maintain the data flow, maintain employees records ,track processes. it helps business operations
by keeping them connect to the customers suppliers and their sales. it has the ability to
streamline operating cost ,instant delivers with the help of technology and also supplies the
information so business are offer pricing of services as well as goods without the quality
sacrificing Hamel.and Prahalad, ( 2017). Establishing an internet presence s crucial even
business is not the type of e-commerce. it enables customers to current and potential customers
to view their products online and could task the benefits of the services online. Internet provides
Toyota company's business ability to reach their potential customers over the world. Certain
products and services are not in the demand within Particular area but establish a demand outside
the country where people can see products online Astuti, Afiff. and Balqiah,(2017) . many
business can able to handle accounting functions with the helps of the accounting software.
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Technological advances n accounting software such as tracking sales employees records as well
as payroll into simple task with no specialised training required . As some programs only
included notification that can alert business owner.
According to the view Schmitz and et.al.,( 2017) Recent technological advancement in
Toyota are mostly the digital advancement in which the company had increased the budget for
the technology in which there are various areas on which the company had focused. The
advancement will give the company competitive advantage in the future. The organisation had
focused on Artificial intelligence and machine learning in which the company have to meet out
the needs and wants of the customer by knowing what are things which are being served by the
customer over the internet Kohtamäki. and Farmer,(2017). AI help in finding out what model a
company should design so that it forces the customer to purchase the product. Machine learning
is successful in gathering traffic in which wait time is reduced and quick opening of the site of
Toyota is possible. From the site the customer can quickly place the order or do booking of the
desired vehicle. AI as well as machine learning have transformed the operations of Toyota.
As per the view of Von Zedtwitz and et.al.,( 2015) Quantum Computing is also a
dominant factor which is playing a key role in the growth of Toyota. In quantum computing
quantum-mechanical tools are used in which computer is developed by quantum programming.
Algorithm is used in order to do fast operation of the computers Christmann, Leong. and Tan,
(2017). If the computer is answering the questions of the customer online without the presence
of the customer representative employee it is the result of Quantum computing. Quantum
computing makes the computer very fast and due to which the results can be derived very fast in
which the company become highly effective and efficient in handling the work of the
organisation .
As cited by Chatterji,( 2016) Automation is also playing a key role now a days in which
everything is becoming automatic. In which the car is automatically driven by the robots. If
there is any problem in the car then the car will automatically stop and will signal the problem
which is hindering the performance of the car. There are also auto breaks available in the car
which results in stopping the car slowly in order to prevent any accident. There are auto door
closer system in which one just have to press button and the door will be closed Christmann,
Leong. and Tan, (2017). Auto steering and auto light off and on is also another feature which is
attracting the car much more nowadays. Automation have made the life very easy.
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As explained by Schmitz and et.al., (2017) Blockchain technology is also playing a key
role in transformation in which each of the transaction done by the company is validated on the
multiple computers. This activity results in increase in the safety and security of the transaction.
The block chain technology have created transparency for Toyota. The data which is provide via
this technology is more accurate and more reliableAmran, Ooi, Wong, and Hashim, (2016). if it
is compared with the traditional paper work. This technology is also helpful in reducing the cost.
The cost is being reduced by no middleman which takes their commission, here the data is
directly sent to the user.
According to the view of Cetindamar, Phaal and Probert, (2016)Higher internet speed is
another factor which have transformed Toyota. Due to higher internet speed the company is able
to serve the customer better and connect the other computers to serve the customers better. There
are speed such as 5 G data. Which also mean 5th generation data Baron, (2016). Using the 5 G
data trading has become very easy and fast processing of transactions and refund to the customer
had become easy. Via fast internet the customers can be pinched by targeting them the product
the company want sell and this can be done via digital marketing. Using digital marketing
Toyota can convert the audience into customers.
Literature review is done to capture suggestions from previous research papers about the aspects
that are used in the present research.
THEME 1 Innovation in Automotive Industry
According to Prajogo, (2016) innovation is a crucial concept in the management
meetings. Innovation is a successful creation of ideas that bring business value for sustainable
growth. As per the author's point of view innovation is referred to a driver of profitable revenue
growth. It also delivers higher customer satisfaction, competitive positioning and low cost
Angelsberger, Kraus, Mas-Tur,and Roig-Tierno,(2017). In automotive industry without
innovation the company cannot survive. Day after day innovation arises, so That company has
to comply with them. Major innovations in manufacturing technology driven by automation
such as lean manufacturing in Toyota. Product based innovation in automotive sector is
primarily response to the consumer's demand. On the other hand the author contradict that The
automotive businesses spend huge amounts on research and development on the technologies
and products that fulfil customer's demand and are aligned to change customer's requirement.
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As per the view point of Piperopoulos, (2016) the customer's want those cars that are
advanced and have new technologies to be introduced in the market. The consumer wants
safety and connectivity along with in fuel efficiency. The company in order to meet customer
demand are focusing on innovating alternative fuel & alternative power-train technologies.
According to the Wagner, (2017) point of view innovation is critical for survival of the
businesses and an important tool to gain competitive advantage in today's world. To bring
innovation the company has to understand and analyse the market demand, offer better quality
services while keeping a check on the cost. The company has to also pay attention on feedback
services of the customers as to provide them with quality of backup Yan, and Liu,( 2017).
Consumer thinking regarding innovation depends on innovativeness of consumer. According to
the study the customer's behaviour changes with innovation in auto-motive sector.
As stated by Zhou, Lazonick and Sun, (2016) Innovation helps industries to achieve
competitive advantage and enhance their market share, establish a brand name, move ahead of
competition and attract customer's. There are certain challenges that auto-makers face while
building innovation like increased competition and changes in the recent trends of the customer
regarding the demand.Kolk, ( 2016).Tough competition is already prevailing in the market as
every company wants to satisfy the customer's needs. They are attracted to particular brand and
on other hand customer stay loyal when their demands are fulfilled, and they are satisfied with
the new product introduced by the company.
As explained by Wagner, (2017) Innovation is base of growth for the organizations. Due
to high competition in the market, companies need to innovate in order to increase their market
share.
THEME 2 Challenges in building and managing Innovation
According to Johnson, (2016)some managers fear that bringing innovation will distract
their employees from the regular work they are doing or from their day to day job role. This is
only reason company don't feel empowered to try something new or take risk. An internal
innovation needs support and guidance of leaders and managers to take control over organization
Angelsberger, Kraus, Mas-Tur,and Roig-Tierno,(2017). But when the managers themselves are
not ready to accept the challenge and bear risk they cannot even motivate their subordinates.
Critiqued by Oparaocha, (2016) the study highlights that fact about the resistance it is not only
from managers side but from employee's part as well. Employee's resist change, they fear that it
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will affect their daily work schedule. They lack motivation to overcome that resistance and this
impacts their growth and development Yan, and Liu,( 2017). For overcoming these issues
managers must motivate their employee's by letting them know about the importance of the
change and innovation that company wants to bring The company should provide better training
and development to employees and motivate them to achieve the organization goal and objective
along with their personal one. This will provide employee the better knowledge and regards in
terms of major improvident emanated by the company in the organization.
As per the view point Kivimaa and Martiskainen, (2018) innovation can be hampered by
poor infrastructure, lack of resources like cost. To bring innovation in an organization proper
financial resources are mandatory as it hampers the opportunities for an organization. For
implementing innovation businesses need huge cost and lack of resource affect the growth of the
companies Kolk, ( 2016). The study aims to find the major factor that affects the management of
innovation and from the findings it was analysed that cost is the major factor that affect the
process of innovation in organizations.
As explained byCohendet, Parmentier and Simon, (2017) new technologies are coming
forth to meet customer's expectations and be competitive in the market. The organizations in
order to increase market share and attract customer's must constantly introduce something new.
New technologies in automotive industries are coming that fascinate customer's and motivate
them to buy the same. Up-gradation in speed of the car, new accessories that trending and make
the cars more attractive. On the contrary Van Lancker, Wauters and Van Huylenbroeck, (2016)
argued that it is important to bring innovation in the models but incurs huge cost, might possible
that the businesses have less financial resources so this factor puts a constraint in the
management of the innovation Amran, Ooi, Wong, and Hashim, (2016). The organization has to
analyse that the input has the expected output as well I.e. if the company is investing huge costs
they desire certain amount of pay back. The findings of the study states that organizations should
properly analyse the market, their needs and expectations and then plan to develop that product.
As elaborated by Ollila and Yström, (2017) in their study the employee's resist change
that becomes the biggest challenge while building and managing change. The members feel
uncomfortable when they have to shift from their routine work to something new. The
researcher chooses secondary data to prove the study and finds that employee's need to time to
accept and adjust according to the change. Employer must provide proper training and let them
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know the benefits of change for the organization and for employee's. So employee's also support
the change management and work in accordance with it the change. Critiqued by Rubin and
Abramson, (2018) argues that most of the time employees are left to suffer during the process of
innovation. No support of management to employee's will lower their morale and will bring a
sense of dissatisfaction Baron, (2016). Work pressure and no appreciation will no longer
motivate employee's, and they will force them quit their jobs. This way organization will suffer
losses; one from financial point of view and other that the company will lose the best talent of
company.
According to Appelbaum and.et.al., (2018) for building innovation, organization needs to
invest huge amount on research and development for bringing innovation in auto-mobile
industries. According to author innovation is necessary to maintain the brand name and attract
the customer's in the market. Market is dynamic and so is the needs of the customer's, that keeps
on changing with the new concept in the market.
As the innovation of technology industry there are many challenges faced by the
industry the designing component plays a major role in the auto-mobile sector the designing
needs to be very précised and must fulfil all the tests like fatigue, creep, strength of material used
etc.
Innovation is a base of any auto-mobile industry, with the help of any changes in the technology
takes a lot of hard-work of engineers to design a component and conduct a test for the salient
functioning of the components or machine.
As per the view of Esposito and et.al., (2015)Auto-mobile company has many challenges in
front of them like the design must be précised as per the requirements which must fit in the
component and the functioning must be proper right use of material used in innovation will lead
an organization to successful and innovative inventions. There arose many challenges at
TOYOTA like costing is a major challenges faced there must avail a sponsor who agrees to the
changes brought by and must be ready to accept the innovation in technology.
As per the view of Natalicchio and et,al., (2017) as the invention of technology many of the
workers are not familiar with the changes brought in the industry and are not able to cope up
with the current scenario with the lack of trainings and information provided which van lead the
organization to a huge loss, inactive working from the workers can be seen, this unusual
behaviour can bring up company with losses. A proper training must be provided to the workers
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before they start the new inventions project. They must be provided with in-hand solution to the
problems which can improve the working efficiency of the industry.
As per the opinion of Appelbaum and.et.al., (2018) in any auto-mobile sector there are many
investors in a particular project which cannot come up with a solution and many of the programs
comes at rest as no common solution is given out. There must be a strategic approach to the
problems. The economic progress of the innovation must be a bigger issue in the innovation of
the auto-mobile component.
As explained by Rubin and Abramson, (2018) there are many resistive forces in an auto-
mobile industry like hierarchical order there are many sub sections which do not come up with
the common solutions and work as per their will which can affect the hierarchical order and the
set target is not achieved. There are many forces like a slight changes in the designing section
will affect many other sections. Immature workers can not come up with the changes they need a
span of time and attention like proper training and classes which can help them to adapt changes.
As per the view of Ollila and Yström, (2017) designing plays a major role in the
innovation and the technological changes brought by the organization. Failure in designing and
testing of the component can be a failure of the whole invention proper testing must be done so
that the functioning of a component is proper various parts like engine, transmission, gearbox
must be checked before the actual assembly Lawton,(2017). Line assembly is also a major aspect
in an auto-mobile industry as if there is any breakdown in any sub assembly the further line is
stopped which can give a financial loss to the company. Many of the assembly section in an
auto-mobile industry are co-related to one another in the auto-mobile sector. The features
implemented in the invention must attract the customers as customers are of great value to the
auto-mobile industry, the features introduced must be such that more of customers must like
your innovation, brand value plays a major role in this as more the brand value more will be the
sales and market support. Various government regulation can affect the sales of the auto-mobile
industry many countries do not allow the vehicles which generate more of torque and power as
per safety norms of the country many of the changes must be carried out before the introduction
of the industry Hamel.and Prahalad, ( 2017). Cost analysis can affect the performance of the
industry as many countries have different rates in the different organizations as many of the
customers demand high facilities with lesser rated to satisfy customers company must introduce
many range of offers according to customers need which can bring sales more of the customers .
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CONCLUSION
From the report it had been focused on the management of innovation which can enhance
the productivity of the company. it focuses that issues came when the innovation of technology
came into existence such as employees do not feel motivated. Than innovation process came as
searching,selecting as well as implementing and also highlighted on the recent technology of
Toyota company such as digital technology . Here block chain technology which plays crucial
role as each transaction is done by the multiple computers and it can enhances the safety as well
as security. Here the company uses the 5G technology which helps to increase the speed of the
Internet so that the customer can easily visit their websites and benefits for the products and
helps to increase the productivity of the company. Through the advance technology Toyota
expand its business all over the world.
·SUMMARY
From the above report it had been focused on Management innovation helps in creating
more ideas, products as well as services. With the help of innovation as a business ca grow
rapidly in the market. it increases productivity of the Toyota company. There are several issues
that came in the innovation of business such as missed innovation strategy and staff members are
not motivated of Toyota company. The innovation process of technology such as searching,
selecting, implementing and acquiring. Technology helps to provide the maintenance of data
flow and maintain the employees records and also their payroll. Recent technological
advancement in Toyota is mostly the digital advancement that increased the budget .they focused
on the Artificial intelligence as well as machine learning that can meet the requirements of the
customers. Report also summarized about the various challenges came in the innovation
technology of the company such as employees are not responding it better fort the new
technology as implementing new software requires training and that takes times and energy both.
high internet speed like 5 G data becomes very easy as via fast internet can focused on the
targeting customers. Here block chain technology is also plays a crucial role in terms of safety
and security.
15

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