Managing Innovation Assignment (Solution)

Added on - Dec 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 14 pages
MANAGING INNOVATION
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Usage of Appropriate innovation theories..........................................................................12. Product Historical Development........................................................................................4Future possible development Pathways..................................................................................6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONIn these report it covers the topic of managerial innovation as innovation helps thecompany in expansion and growth and also for survival in long time and also by the help ofinnovation company can gain competitive advantages and also solve many problems . This reportis base on the company name as Made.com which is base on London and indulge in designs andretailing home wares and also sell furniture online. It will also involve two innovation theory thatis disruptive theory and diffusion theory and also the linked with theMade.cominnovationstrategies (Reinhardt and Gurtner, 2015). It will also cover the linked between the theories andthe historical development of the product of Made.com and it will explain the possible futuredevelopment of the product by the help of innovation theories.MAIN BODY1. Usage of Appropriate innovation theoriesInnovation refers to creating new ideas, thoughts and new imagination. Innovation ismain source of business in the modern world as it helps the organisation to work in long termbasis. Innovation helps the business in expansion and diversification and also helps to give toughcompetition to its competitor. As for survival it is important to continuously innovates its productso that the company will gain competitive advantages . By the help of innovation it creates manyopportunities and help in survival and also solve many problems by various innovative methods.There are multiple theories and applicable tolls which help innovation process. The theories helpthe product growth and development and maintain a strong advantage of the products. And alsoMade.com has use various innovative theories for survival and profit generation. Made.com hasinnovates its product from big table furniture from fold down table as to sustain in the market fora long run (King and Baatartogtokh, 2015).There are majorly two type of innovation theories which are explained below-DIFFUSION INNOVATION THEORY– Diffusion innovation theory was developedby E.M. Rogers in 1962, is one of the oldest theory. The end result of this theory is that peopleadopt new ideas and product. The basic feature of adoption is that people must understand theidea . According to researchers people adopt an innovation have different characteristics thanthe people who are not flexible for adopting the new ideas . It is important to understand the1
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access