General Motors Innovation Management Report: Value Creation Strategies

This report provides a detailed analysis of innovation management within General Motors, focusing on the theme of 'Creating Value Through Innovation Management.' It begins with an introduction to the theme, emphasizing its significance for organizational growth and performance, particularly in the competitive automotive industry. The report explores how innovation management, encompassing idea generation to implementation, is crucial for General Motors to adapt to market changes, enhance customer satisfaction, and maintain a competitive edge. It highlights the benefits of innovation management, such as cost reduction, revenue increase, and competitive advantage. The methodology section proposes a process analytical approach for managing innovation, emphasizing continuous improvement in operations, marketing, and sales. The report further discusses technology transfer, its role in cost management, and how it facilitates the development of customer-centric products. It evaluates the impact of innovation on company culture and costs, while also showcasing General Motors' innovative initiatives like Cruise AV technology and electric smart vehicles, which enhance customer loyalty. The report concludes with commercially viable solutions, underscoring the critical role of innovation management in achieving organizational goals and sustaining market presence. Finally, the report emphasizes that innovation management is crucial for General Motors to create value for stakeholders and remain competitive in the automotive market.

Innovation Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Introduction to theme and its importance....................................................................................3
Critical Evaluation of the findings and implications of the theme selected by the company.....6
Conclusions and commercially viable solutions.........................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation management is refer to the process of managing the organisation's
innovational practices, by starting it up with the initial stage of idea generations to the successful
completion through the implementation of idea into business. It involves the formation of
decision, practices of devising and at last implementation of innovation strategy. This report is
based on General Motors which is an American multinational automotive company that is
headquartered in Detroit and involve within the manufacturing, design, market as well as
distribution of vehicle and automotive parts. This report is based over a theme “Creating Value
Through Innovation Management” in context of General motors. It contains an introduction of
theme along with its importance. It further includes detailed methodology and understanding
regarding managing innovation and technology transfer theme. At last it represent the findings,
conclusion and viable solution for the management of innovation.
MAIN BODY
Introduction to theme and its importance
Innovation within a business is simply about the harnessing of good ideas and then
viewing them through the development as well as implementation throughout an organisation.
Innovation management plays a significant role within an organisation growth and performance
of innovative practices. It is basically defined as the process of turning the business ideas into a
solution to the problem which organisation is facing by implementing several methods. From the
business perspective, innovation is consider as a fuel for the organisation to bring changes within
the business as per demand get arises among the customers (Bain and Kleinknecht, 2016). The
proper management of business innovation brings up several benefits such as reduces the costs,
increase revenue, improve company sustainability, achieving competitive advantage etc. which
all contribute toward creating value in front of the stakeholders. General motors is an
organisation which perform operations related with the auto-mobiles parts, commercial vehicle,
automotive etc. This automotive industry holds up strong competition which brings up regular
changes in the services offered by an organisation.
Hence in order to deal with competition it is crucial for General motors regularly
innovate its business practices as well as services in order to keep its customers satisfied and
adding value to them. With the proper management of innovation, an organisation become able

to regularly innovate its process of performing particular operations, interacting customers,
delivering services etc. These all are the practices which allows a business to enhance its level of
performance as well as quality of services which it offers. It is so because by regularly
innovating business practices and managing it effectively to brings up positive outcome it
become possible to offer services to customer as per their customers and changing demand that
will support the General motors in creating value in front of customer by offering services that
are totally different from that of other competitors that are offering similar services (Baxter,
2018). Despite of all this the innovation management will also allow an organisation to keep a
pace with the new changes that are being anticipated within the marketplace.
Therefore it can be said that by maintaining as well as managing the innovation in term
of its operations it become possible for general motors to create value at marketplace. This is so
because by maintaining the innovation management within the organisational process it become
easier to continuously improve the practices and offer the services as per the customers
expectation and demand. In addition to this, innovation management will also allow the general
motors in differentiating its services from that of other competitors that are operating at
marketplace. This in turn result into increasing the brand awareness and making people more
attracted toward the different services offered by General motors to its customers (Caetano,
2017). It is so because the increasing business value with the help of innovational practices are
very crucial to the growth and success of an organisation. The challenges or threats that an
organisation faces mainly get addressed by bringing or integrating an innovation practices to a
particular issue so that its solution brings up several new benefits to the stakeholder. This in turn
help in creating value in front of the stakeholder by providing several benefit to them. Hence
innovation management is crucial to have a sustainable business as it a business to look ahead
into the upcoming future opportunities by brining up new and creative ideas that not yet been
implemented by the competitors. In addition to this it also help General motors in dealing with
the competition and remain competitive within marketplace by keeping its business practices
differentiated from that of competitors and restrict them to imitate that with the proper
management of innovation which in help in creating value among the stakeholder. This is
because by regularly innovating the business practices it become easier for General motors to
fulfil its promises (Leal-Rodríguez and et. Al., 2015).

Methodology of the analytical approach and understanding of managing innovation and
technology transfer theme
In order top create value among the stakeholder as well as remaining sustainable to
business environment it is crucial for General Motors to adopt an appropriate methods which
ensures regular flow of innovative ideas and thought so that improvement over the current
process can be undertaken. Hence the most appropriate analytical approach that General motors
can used in order to manage the innovation within business is, process analytical approach. This
kind of analytical approach will support General motors in continuously bringing improvement
within the organisation by working over its operations process (Clauss, 2017). Process
improvement was consider to be most commonly used analytics in past in term of supply chain
as well as logistical processes. But now a days companies mainly make use of analytics in order
to enable the improvement of process or brining innovation in term of marketing, sales, pricing,
production or manufacturing as well. This approach suggests that an organisation must not leave
its concern of generating innovative ideas with the help of its process by making use of analytics
or other resources. This in turn support an organisation to offer its customers with different
services as well as benefits which creates more value to them. Otherwise, if it offer similar sort
of services then it become difficult to differentiate the offering of one company with another.
Therefore, general motors must make use of process analytic approach to keep its innovation
practices managed (Lee and et. Al., 2016).
It is important for the company to manage the innovation which they introduce as it has
influence on the people working in the organisation, the resources held by them, the people
which are associated with the organisation and many more. Due to this the organisation has to
manage the innovation effectively by analysing the process of innovation and managing all the
activities which are part of innovation. There are various aspects and components which are to be
managed by the General Motors such as they have to consider the abilities of the employees as
with the innovation the requirement of the capabilities also changes. Along with this the General
motors have to manage the resources which are affected due to such innovation such as the
increased requirement of the finance due to procurement of the machineries etc. To increase the
demand of the customers the company has to bring innovation, which must be as per their taste
and preferences(Sulistyo, 2016). Management of the innovation includes formulation of the
strategy for the innovation, managing the culture and the structure of the organisation, life cycle

of the innovation, enabling the factors which are part of it and finally analysing the results of the
innovation. With the help of all these aspects the innovation which the General Motors wants to
introduce can be efficiently implemented. Innovation which the organisation plans to introduce
depends upon the need of the organisation which can be breakthrough, disruptive and sustaining
innovation. With the help of technology transfer the General Motors can make their technologies
available to others and can procures the technology used other by way of purchasing the
components and parts manufactured by them. This enables them to make their cars suitable and
efficient to meet up with the needs of the customers. Such technology transfer facilitate the
company to reduces manage their cost by way of procuring some technology from outside the
organisation. The technology transfer can be in terms of sharing of the components, knowledge,
information etc. even transferring of the intellectual property rights. With the help of innovation
the problems which are faced by the company can easily be resolved as they are nothing but the
solution to the problems faced by them. Such innovation helps the company to take the
competitive advantage by way of designing better products and by connecting with the
customers (Tuli and Shankar, 2015).
Critical Evaluation of the findings and implications of the theme selected by the company
The theme selected in the report is managing innovation and technology transfer theme
which helps the company in gaining a competitive advantage in the market. Managing
innovation is related to bringing innovative and new ideas in the products, services or processes
of the company which helps the company in various ways. The technology transfer theme relates
to acquiring of new and innovative technology from other company instead of developing the
technology by the company itself which helps the company in saving its cost, time, resources etc.
which are required to bring innovation in the the market. This these has many advantages for the
company like it helps the company in attracting more customers as the new technology is able to
meet the changing needs and wants of the customers in an efficient manner which also enhance
their experience. It also helps in gaining the loyalty of customers as the company becomes more
able to meet the dynamic requirements of customers. Further managing innovation and
technology transfer helps the company in reducing its operational cost as the work done can be
managed in a smooth manner. However this theme also has some negative impacts on the
company like it affects the culture of the company as the employees have to adjust their working
according to the newly introduced technology (Kumar and Pansari, 2016). Also sometimes the

company has to incur more cost on acquiring new technology which increase the cost of its
products and services. Such innovation leads to increase in the cost of the company which put
them in the situation that they have to formulate various strategies to manage all the resources of
the General motors.
Innovation has various benefits for the General motors as with this they can easily
manage relations with the customers, this can be illustrated with the example such as the
company launched the innovative cars with innovative features. The Cruise AV technology,
Buick Enspire Concept etc. are the technology and innovation which helps them to reduce the
crashes of the car, zero congestion and open innovation. All these make their customers feel safe,
better and provides sustainable ways to deal with the problems faced by the company. The
electric smart vehicles innovation in the cars of the General Motors make the people loyal
towards the company. Along with this various features such as fully autonomous vehicles also
attract more of the customers and helps them to be successfully achieve their goals (Hristov and
Reynolds, 2015).
Conclusions and commercially viable solutions
From the above finding it can be easily said that creative value through innovative
management plays the most crucial role as it gives the idea that how any of the organisation is
required to work so that goals of a company can be accomplished easily. It is needed to
understand that whenever any of the organisation brings on the innovative idea then chances of
sustaining within the market increases automatically. The finding which has been obtained
clearly states that whenever any of the company can only work in the positive intent if they will
be able to bring on the changes in working policies (Fang, Lee and Yang, 2015).
Whenever any of the business is needed to be conducted, it is necessary for them to find
the ways that how they can accomplish their goals in a systematic manner. As General Motors
always try to introduce different kind of changes which means they want to explore different
areas so that their goals can be accomplished. Below, there are some of the innovative ways
through which commercial viable solutions can be found.
 Involve everyone and create conversations: It will be crucial for the business
organisation like General Motors to understand that they will require to take the help of
every employees whenever any of the changes are being introduced (Fossas-Olalla and
et. Al., 2015). It will give idea to top level management how they can introduce any of

the changes so that any of the employees will not struggle in any of the situation which
will directly reflect upon the outcomes of the company.
 Run different types of awareness program: Whenever any of the company thinks that
they must bring on the changes in the working style then they must try that how they can
make people understand about the changes. In context of General Motors, they are
needed to make clear to their customers that what are the changes they are going to
introduce and why those changes are necessary for any of the company. This will help
company to enhance the sale once whey introduces the changes in the market.
 Rewards and Recognition: At the time of introducing any of the changes in the
company it is necessary to understand for company they must give rewards to those
employees who have supported at the time of bring any of the changes. In context of
General Motors, their top level management must ensure that they will give rewards to
employees and make them recognise that how their employees have contributed for
introducing the changes. In short, it will give idea to company that how they can
introduce changes within the market.
 Do not push employees, Pull them in: If in any of the situation company thinks that
their employees should be forced to do any of the work then they will not be able to do
the work which is required by the company (Homburg and et. Al., 2015). In context of
General Motors, they should try to think that how they can involve their employees in
whole process so that they can give their efforts towards accomplish the goals of a
company

CONCLUSION
From the above file, it can be concluded that innovation management plays the most
crucial role within the business organisation as it gives the idea that how company can improve
their performance short period of time. Each and every organisation does have the option to
present themselves as a bigger organisation if they can be innovative in the market. Whenever
any of the organisation thinks that they are needed introduce any of the new concept within the
market then they must ensure that they will conduct different types of work which will include
various types of finding. In addition, every company must bring on the creative ideas so that
whenever they conduct any of the innovate work then that can be conducted successfully.

REFERENCES
Books and Journals
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