Managing Innovation in Business

Managing Innovation in Business
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Executive Summary
It has summarised about the Innovation management that mainly refers as a useful for
organization to gasp an opportunity and also create or introduce the new ideas, products and
process respectively. It can be determined the concept which suitable for medical healthcare
services to determine various activities, practices and decision, these are directly impacts on
changing the overall business processes. It has concern about the future of industry where how
the organization uses innovation requirements in 2020 where organization can be increased the
capabilities and abilities for improving business demand in global marketplace. it has analysed
future innovation idea, thoughts that implementing the medical services by using advanced
technologies.
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Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
The Future of industry 2020 and Beyond....................................................................................4
The organization Innovation requirements 2020 and Beyond.....................................................5
Building the future innovation capabilities for organization.......................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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INTRODUCTION
Innovation management is a process that useful for organization to gasp an opportunity and
also create or introduce the new ideas, products and process respectively. It is based on the
innovation idea that implement in the business process for changing goals and objective of
business. The innovation management will be determined by performed various activities,
practices and decision that will change style of business. it will manage the investment while
creating new opportunities. It mainly emphasis on the existing performance and efficiency of
organization in terms of innovation. Stryker Corporation is a type of fortune medical
technologies that provide various type of surgical equipment’s, navigation system and other type
of endoscopic communication system. the organization was formed in 1941 by Kalamazoo,
Homer Stryker. These are important persons, who developed the company which allows for
providing better quality of services and instrument. This report will discuss about the future of
industry and how the organization innovation requirements in 2020 where they will increase
capabilities and abilities for improving business demand in global marketplace. Furthermore, the
report will concern about the future innovation capabilities that useful for increasing
development and growth.
MAIN BODY
The Future of industry 2020 and Beyond
Stryker corporation is based on the medical technologies company which is located in
Kalamazoo, Michigan. It provides the various type of products related implants uses in the
trauma surgeries, neurosurgical and neurovascular for purpose of communication system. it helps
for handling and emergency medical equipment as well as other type of medical devices item. It
is belonging to health care sector which means the organization will be affected indirectly and
directly by large number of disruptive opportunities. Sometimes, it is quietly challenging over
coming decades in future (Dai and Tayur, 2019). It is mainly describing in full details with the
help of Quantumrun’s special reports. First of all, it can be seen 2020s that will be quite silent as
well as Boomer generation that easily enter into many years. It also representing 40 to 50 % of
world population that combined with demographic. It also represents in the significant ways to
strain on overall health system of other developing countries. However, it is also engaged with
the voting block and demographic actively increases the public voting, large number of peoples
are spending on the subsidized health equipment and services.
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