Discussion Post on Innovation, Market Share, and Business Success

This discussion post explores the concept of innovation in business, emphasizing its significance for organizational success and market share growth. It references Kotler et al. (2018) and Snell, Bateman, and Konopaske (2015) to define innovation and highlight its importance in a competitive environment. The post reviews an article on the top 10 most innovative companies, citing Fastcompany.com (2019), and provides examples of Marvel Studios and Ford Foundation as innovative entities. It analyzes how Marvel Studios utilizes non-intuitive approaches to filmmaking and how Ford Foundation invests in charity work to make a difference. The post concludes by referencing Rothaermel (2017) to underscore the necessity of regularly introducing innovative solutions and products to maintain a competitive edge in the market.

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Discussion Post
Innovation
The innovation as a concept can be essentially described as the development and
creation of various new ideas, creative thoughts, new imaginations in order to improve a
scenario or to come up with an innovation which shall be beneficial for all the parties as
present. According to Kotler et al. (2018), the innovation is viewed as the application of
better solutions which assist in meeting new requirements for the purpose of the business and
assists in meeting with unarticulated needs or the existing conditions of the market. Snell,
Bateman and Konopaske (2015), describes Innovation as an essential aspect for long term
organizational success.
Importance of Innovation
An organization strives in a competitive environment and with relation to this, it is
essential for the firms to understand that in order to be able to extend the market share, the
firm would be required to come up with innovative solutions. According to Rothaermel
(2017) , a firm needs to regularly come up with innovative solutions and products for the
target audience in order to gain a better market share. As the price is not a competitive factor
anymore, it is crucial to ensure that, the enterprise is being able to engage in the innovation
and related aspects.
Review of article
The article on the Top 10 most innovative companies covers a story which describes
the topmost innovative enterprises present around the globe in the year 2018 which have been
able to accelerate growth and accumulate a large market share (Fastcompany.com ,2019).
The article states a list of 10 most innovative enterprises and in the way these companies have

DISCUSSION POST
been successfully able to through their creativity and vision have been able to be a king of the
business. Some of the most popular enterprises present in the list are Netflix and Amazon.
Examples
The two examples which can be taken from this article can be stated to be the
example of the Marvel Studios and the Ford Foundation. The example of the marvel studios
can be undertaken in the scenario whereby the studios have been successfully able to change
the future of technology and media (Rothaermel, 2017). It is through this initiative that the
media has been able to become this advanced. In line with this even Ford Foundation has
been successfully able to engage in the use of resources to find new ways to impress the
customers. The CEO has invested in innovation to be able to make a difference.
Identification of innovative aspects
The way in which Marvel Industries has been able to gain success is by starring
movies with conventional actors and by following nonintuitive approach to film making.
These films are strong on content and by using the story as its selling point, the firm has been
able to attain success (Snell, Bateman & Konopaske, 2015). On the other hand, Ford being a
prestigious enterprise has been able to invest in considerable charity work throughout the
globe and brought about social justice for the various needy around the world. The firm heads
believe that the resources they have acquired should be put to good use.

DISCUSSION POST
References
Fastcompany.com (2019). The Top 10 Most Innovative Companies by Category. (cover
story). (2018). Fast Company, (223), 90–103.
Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2018). Marketing
management: an Asian perspective. Pearson.
Rothaermel, F. T. (2017). Strategic management. New York, NY: McGraw-Hill Education.
Snell, S., Bateman, T., & Konopaske, R. (2015). M: Management. McGraw-Hill Higher
Education.