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Managing Innovation Assignment - Toyota and BMW company

   

Added on  2020-10-22

15 Pages5267 Words65 Views
MANAGING AND INNOVATION 1

Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................31. Introduction of Toyota and BMW company......................................................................32. Map and Critique the innovation space of Toyota and BMW setting out existing practices.53. Identify and Critique the innovation capability of Toyota Motors and BMW Group........84. Innovation Management of Toyota using Tidd and Bessant's 4 step model. ..................105. Recommendations to improve the innovation strategy and innovation management inToyota...................................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142

INTRODUCTIONInnovation is very important to the continuing success of the organisation. It is processthat involves multiple activities in order to uncover the new ways to do things. Innovationcreated values for which customer pays and it also satisfies the expectation and needs ofcustomers. It is very important for company' survival, economic growth and development as wellas success of company. In addition to this, it is also very important that company should supportthe culture of innovation as well as make employees feel worth for the company. It will boostemployees to create quality of ideas in return. Thus, in order to achieve success, it is veryimportant that company should manage innovation (Akampumuza & et.al., (2017).In this present report, Toyota and BMW company will be chosen for assessment. Boththe organisations are leading in the area of innovation and invention. Toyota is a multinationalautomotive manufacture company. Its headquarters are located in Toyota, Aichi and Japan. It issixth largest company across the world. It was founded in 1937 by Kiichiro Toyoda. On the otherhand, BMW AG is a German multinational automotive company. Its headquarters are located inMunich and Germany. It is one of the twelfth largest producer of motor vehicles across theworld. Company was founded in 1919 by Karl Rapp. This present report will discuss theinnovations done by both the companies. MAIN BODY1. Introduction of Toyota and BMW company.Toyota Motor which has the original name is known as Japanese Toyota Jidosha KK,Japanese parent company of the Toyota Group. In 1937, Toyota was founded by KicchiroToyoda. In 2008, Toyota become one of the largest automobiles manufacturer across the worldby its volume. The major operations of Toyota is in the city of Toyota which is located in AichiJapan. Toyota has faced many ups and downs in its nearly 80 years of history. At presentcompany is operating in global in 28 counties with 53 overseas manufacturing companies. Thevehicles of Toyota are sold in more than 170 nations as well as regions (Analytis, Sadler &Cutkosky, (2015). In 2016, the list of Forbes, Toyota is the world largest organisation across theworld by revenue, asserts, profit and market values of different organisations. There are 369,124employees are working in the company. The main products of Toyota motors are automobiles,commercial vehicles, engines and luxury vehicles. 3

In terms of innovation also, Toyota is leading in the world. Toyota is the first companythat had s launch hybrid car on the roads. In addition to this, In 2011, Toyota Motor Corporationhas started a program that builds robots which provide solution to some life's irritation as well asmisfortune. Toyota has invented a robot which is known as Human Support Robot (HSR). Themain purpose of this innovation is to improve the quality of people. In addition to this, Toyotaalso innovate a robot which are designed to help in the rehabilitation of injured patients inhospitals (Birkinshaw, Zimmermann & Raisch (2016). They are called Walk Training Assist aswell as Balance Training Assist robots. It is also one of the best innovation that are very helpfulfor the people. Another innovation in the cars which is integrated safety technology. This feature is oneof the most useful and most preferable innovation for the customers. It is designed to avoid acrash autonomously. It is the system of pre-collision with Steer Aid usage radar sensing to spotpedestrians a swell as other hazards whether day or night. In order to ensure safer motorways,Automated Highway Driving Assist (AHDA) was developed. In addition to this, in safety sense,Toyota is contributing huge amount of investment such as Lane Departure Alert, Auto HighBeams, Dynamic Radar Cruse Control. Lane Departure System is a camera that help drivers tostay at his own lane (Budde, Alkemade & Hekkert, (2015). Camera detects the lane marking inthe raids. Auto High Beams- This is also one of the best technology which has stopped manyaccidents. This system uses the camera in order to detect the coming vehicles coming on the roadand it automatically balances the high and low beams. Pedestrian Detection helps to detectpedestrian under the certain conditions. It is the system that alerts the drivers if any pedestrian inon the way. In addition to this, one of the best innovation is the safety system of Toyota is itsDynamic Radar Cruise Control which observe the speed as well as the distance of the vehicleand it also adjusts the speed in accordance with the situations.Wireless EV Charging is the recent innovation of Toyota (Cano-Kollmann & et.al.,(2018). This is advance technology that allows cars to be charged by parking in coalition with acoil set into the surface of the ground. In this charging, there is no need of connectors and cables.But this innovation is developed for hybrid cars or electric cars. BMW AG- Bayerische Motern Werke AG engages in the manufacturing as well as saleof automobiles and motorcycles. It is German Automobile. Motorcycle sand engine producer4

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