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Managing Innovation in Business: Report

   

Added on  2020-12-30

10 Pages3337 Words95 Views
MANAGINGINNOVATION INBUSINESS

EXECUTIVE SUMMARYThis report helps in understanding innovation in organisations. New and innovativedevelopments in electronic industry is essential companies to improve its competitive position inthe market. Innovation allows the firm to enhance its creativity and provide new and helpfulfeatures to its customers. PESTLE Analysis was used determine external forces that influences operations ofSamsung Electronics Co. It is determined through the analysis that the external factors have beensupportive towards the company in bringing innovations. Moreover, social, technological andenvironmental factors have been constant drivers of innovations in the company.Porter's Five Forces Model is used to effectively conduct this research. Throughexamination it is determined that bargaining power of suppliers is high, whereas bargainingpower of buyers is high. The company faces a constant threat of substitution as well as industrialrivalry. It needs to keep innovating the designs and technologies used in its Televisions in orderto stay ahead of the competition.This report aims towards identifying existing innovation performances and capabilities ofSamsung. SWOT Analysis was used to determine this existing performance of the firm in theglobal market with an emphasis on opportunities for the firm and its innovations. A new productPocket Holographic Television is introduced that will be a game changer for SamsungElectronics co. in the industry.Lastly, the current innovations in electronics industry is analysed to ascertain its impactupon the organisations working in this sector. Also, determined their impact on the futureworking of Samsung and their contribution in the development of innovation like PocketHolographic Television.

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4THE ORGANISATION AND ITS INNOVATION HISTORY.....................................................4INNOVATION PERFORMANCE AND CAPABILITIES OF SAMSUNG.................................6ELECTRONIC INDUSTRY (TELEVISION)................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

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