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innovation

  Term Paper ID:38299
Essay Subject:
Innovation is an expensive process and a daunting one to many business managers It ...... More...
11 Pages / 2475 Words
13 sources, 27 Citations, APA Format
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Paper Abstract:
Discusses innovation as an expensive process, and a daunting one to many business managers as well as the process that fights economic entropy. Why managers should be open to change.

Paper Introduction:
Innovation Innovation in business is the force which counters entropy Ratherthan simply research into new products and technology innovation is far more widely regarded as a process offering promise ofeconomic advantage Rickards p But some innovations come ata price too high for the company to take All businesses need eitherproduct or process innovation to succeed but the source of that innovationis a matter of strategic decision making for managers Is innovation really as important as we have been lead to believe Yes

Text of the Paper:
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Zespri has several reactions to this threat. The competitive advantages of the market-responsive ZESPRI System, delivered through the premium ZESPRI Brand, were leveraged to the hilt. For business, beinginnovative can simply mean being open to innovation. This fruit was researched in partnership with the government ofNew Zealand, and is only available from Zespri (Innovating for Improvement,1996, www.zespri.com). The first is to invest in basic scientific research, which is essential as the foundation for new ideas, methods and products. Firms cannot merely adapt to markets as stable environments, they need to be more reflexive and strategic. London: Routledge.Teamwork Dedicated to Excellence (2 6). Ratherthan simply research into new products and technology,"...innovation is far more widely regarded as a process offering promise ofeconomic advantage" (Rickards, 1999, p. Simply having thecertification increased their respectability in the internet businessworld, and it gave their consumers an option to research their businesspractices. Zespri is a corporation, but it is owned by thegrowers who supply it (Teamwork Dedicated to Excellence, 2 6,www.zespri.com). It also brought into existence a substantial filmmaking infrastructure: Mr. Jackson has built his own film processing lab and postproduction facility and is about to build a sound stage to service his next production, a remake of "King Kong," currently scheduled to shoot in Wellington in August. The Better Business Bureau is an independent regulatory commission,and it can be contacted without internet access. Virtual New Zealand. But there is far more on the agenda than making great movies. "Innovation is no easy business. They haven't taken the set down." (Virtual New Zealand, 2 6) Is it better to innovate or to copy someone else's innovation?Business is proving that there is no simple answer to this question.Companies must be open to new economic opportunities that the market opensto them. (Guinet & Pilat, 1999, p. When manual and electric typewriters (as opposed to wordprocessors and typewriters with memory) fell into disuse, many companiessuch as Office Max stopped carrying the products to support them.Scantracker made the strategic decision to continue to carry these productsrather than try to keep pace with technology, and carved a niche in arapidly shrinking market. Its electric successor lasted 2 years, and the PC word-processing software of today is upgraded almost every six months." (Kluge, Deger & Wunram, 1996, p. Accessed onAugust 11, 2 6.http://www.virtualoceania.net/newzealand/media/movies.shtmlPatterson, A. Is innovation really as important as we have been lead to believe?Yes, because without it a company cannot expect to keep up in an changingenvironment. Unfortunately, the innovation process is sometimes too large for anyone firm to take on alone. There is also the suppressed view found in the ten stories that individual human efforts can make a difference to their futures. Innovative companies stay in constant contact with end users to find out what is or would be valued in a product or service. Accessed on August 11, 2 6. Even Air New Zealand (the national carrier) has adopted a new slogan, "The Airline to Middle Earth." And billboards for the airline in the Los Angeles area show the country's tallest mountain with the caption, "Visit Middle Earth. Its popularity is growing, with 14.7 million traysof it sold in 2 4-2 5 (Zespri Annual Report, 2 5, p. ... Council of the Better Business Bureau. (Kluge, Deger & Wunram, 1996, p. 5) But innovation need not mean expensive research into new products.Scantracker, a company working out of Kansas City, Ohio since 198 (BBSOnline, 2 6), does a great deal of business supplying typewriter and cashregister supplies for machines that are no longer sold (ScantrackerWebsite, 2 6). And to get the investment for any film that is not wholly financed from New Zealand, producers and directors have to construct deals and relationships with parties from different countries... Second, rather than trying to beat the Chinese growers, they aremaking them partners. Our reputation for integrity and consistently superior quality was challenged but upheld as we managed any customer issues swiftly to retain marketing support and drive sales. Accessed on August 13, 2 6.http://www.crfg.org/pubs/ff/kiwifruit.htmlKluge, J., Deger, R., & Wunram, J. If received wisdom helps us understand the nature of the organizational box, we need different kinds of skills to break out of the box and explore what lies beyond its boundaries. 42). (Sundbo & Fuglsang, 2 2, p. Zespri InternationalOfficial Website. First, China's growing season isdifferent, and they can deliver fruit when Zespri cannot (Zespri AnnualReport, 2 5, p.18). This level of innovation came at a highprice, and only succeeded because of the government's commitment to fundingthe industry's development. 1) Zespri International is fighting a great battle in the kiwifruitindustry. http://www.zespri.com/images/pdf/annualreport2 1/ZESPRI%2 Annual%2 Rep ort%2 4- 5.pdfBBB Online (2 6). Rather than waiting for the market to tell Zespri what it wants, thecompany is anticipating future market moves and preparing for them. (Harley, 2 4)There is no question that, in the case of the Lord of the Rings, theinvestment has paid off. Zespri International Accessed on August 11, 2 6. (2 5). http://www.opinionjournal.com/la/?id=11 4761Innovating for Improvement (2 6). Itplaces the integrity of the product as its highest priority, allowing it tocommand premium prices especially in Europe (Zespri Annual Report, 2 5,p.17). Thirdly, Zespri is continuously innovating how it does business. Theeconomic development and national identity of New Zealand is riding on thehopes and dreams of the filmmakers. Whether the companies generate these changes themselves, forecasttheir development and respond in advance, or rely on another source forinnovation is a question of business strategy. (Rickards, 1999, p. (2 4) Seven Keys to Kiwi Power: Behind New Zealand's Movie Juggernaut. 64 - 65) Over the last 25 years, New Zealand has built an internationallyrenowned film industry nearly from scratch (New Zealand's Film Industry).Yet no single firm, or even group of firms, could have handled the riskthat accompanies the filmmaking. "The strong radical humanist streak can be found in a shared belief that creativity exists as a universal human characteristic that is open to nurture and development. By reflexive we mean that firms must take into consideration the changing manifestations of their actions on the market and in society. The international market is oversupplied, highly competitive and unforgiving. Oxford,UK: BlackwellScantracker Website (2 6). Although it enjoys a 3 % worldwide market share (Patterson,2 5, p.3), it faces serious competition in Asia, one of its large markets,from Chinese growers for three reasons. But some innovations come ata price too high for the company to take. OECD Observer, a(217/218), 63-65.Harley, R. The mechanical typewriter, for example, had a life cycle of 35 years. (1999). www.zespri.comKiwifruit (1996). All businesses need eitherproduct or process innovation to succeed, but the source of that innovationis a matter of strategic decision making for managers. Can Germany Still Innovate?.The McKinsey Quarterly, (2), 142.New Zealand Film Industry (2 6). Scantracker was willing to change its internet sales approachto match the demand for legitimacy in the market. Paybacks are still further down the road. Innovation as Strategic Reflexivity. Realizingthat internet scams were becoming commonplace, they earned the BetterBusiness Bureau's online certification on January 27, 2 6 (BBB Online,2 6). http://www.bbbonline.org/cks.asp?id=1 6 1271 2 58Guinet, J., & Pilat, D. The second task for government is to lay the right conditions for business innovation. Third, kiwifruit isnative to China (Kiwifruit, 1996), and growers there may not face theissues that Zespri is encountering in other places, such California, USA(Zespri Annual Report, 2 5, p.18). However, when the exchange rates changed to make Europe a morecostly market, Zespri redirected some of its supply to Asia to keep itsprofits up (Zespri Annual Report, 2 5, p.6). (Harley, 2 4) Even now, 9 % of the film commission's budget comes from thetaxpayers in the form of government support and lottery proceeds (Harley,2 4). (1996). Managers must bewilling to accept change, even if they are not the source of the changeitself. New Zealand Kiwifruit Annual, 2 5. Yet this commitment paid off in increased tourism and business creation. Zespri International OfficialWebsite. WJS.com Oppinion Journal, from the Wall StreetJournal Editorial Page. BBBOnLine Reliability Participation Confirmed For EBSScantracker. Zespri also is researchingnew ways to produce fruit with less impact on the environment to ensure itssupply for the future. California Rare Fruit Growers, Inc. Accessed on August 12, 2 6.http://www.scantracker.com/Sundbo, J. The second approach [examining the assumptions behind what is taught] adds thoughtfulness about beliefs and values that will lead to accumulating wisdom from each new challenge taken up." (Rickards, 1999, p.7)But the critical point, as Rickards explains, is not coming up with the newideas yourself. The crucial point is thatmanagers must be open to change, and the opportunities that it presents, inorder to survive and thrive in the business world.References2 4-2 5 Annual Report (2 5). With "Lord of the Rings"--the biggest film project in New Zealand up to that time--both the government and the commission recognized even before the first movie was made the opportunity that its success would have both for the film industry and for the economy generally. This was a very bold call when all it had to go on was one very determined filmmaker in Peter Jackson, a great book, and, in New Line, a brave ministudio. (1999). Accessed on August 11, 2 6. The prerequisite for success is understanding customer value. 2) "In the vocabulary of the knights of the economic order, the first approach [learning for the test] leaves the knights to rely on blind faith in what they have been taught. The commission's support is provided as investment, not grants. 11). And because the innovation cycle is shortening, products are quickly outdated. And only about 1 % of these achieve success. Innovation is the process of responding to a changingenvironment. Wise managers realize that ideas to gain economicadvantage sometimes come from unexpected places. Innovation Innovation in business is the force which counters entropy. 142) Scantracker is not closed to innovative changes, however. While firms drive innovation, they depend on government to perform three core tasks. Film is a gamble. Though innovation is not just the further development of existing products and services, neither is it pure inventive genius. This more optimistic philosophy accords with the possibility of someone 'inventing' the future, rather than being in the right place at the right time in some kind of pre-determined way." (Rickards, 1999, p.35)If we learn to challenge the assumptions behind what we are taught. The development and introduction of new products usually require tremendous investment in R&D and long lead times. ... Creativity and the Management of Change. (Eds.). Accessed on August 11, 2 6. Accessed on August12, 2 6. 142)It is not always a smooth process, but the company stands firm on itscommitments and triumphs anyway. GlobalAgriculture Information Network, USDA Foreign Agricultural Service.Accessed on August 13, 2 6.http://www.fas.usda.gov/gainfiles/2 5 1/146118487.docRickards, T. ...Government's third task is to help improve the innovation system itself. Can human beings be "creative" on demand? It is important that we all recognize that in one of the toughest seasons we have faced, the SPE structure worked even better, standing firm to produce a very creditable result. So the government put in place a range of leveraging activities and even gave Pete Hodgson, Minister of Research, Science and Technology, the additional portfolio of Minister for Lord of the Rings. Yes, according toRickards. This is where governmentsbecome critical partners in the innovation process. Only about 1 % of the hundreds of writers and directors we support get features into production. (2 2). This is particularly true when a specializedlabor force must be trained, or an industry needs contracts to build theinfrastructure needed to obtain contracts. Second, it is cheaper for Chinese growers to deliverthe fruit because they are closer to the markets. www.zespri.com By strategic we mean that firms must consciously negotiate their role in the division of labour and in relation to customers. The first was toproduce a new kind of kiwifruit which is golden in color and better intaste. March 2. Promoting Innovation - Does It Matter?. The only way to find outstanding talent is by having the courage to accept a high level of commercial and critical failure in the belief that success will eventually flower. & Fuglsang, L. (Zespri Annual Report, 2 5, p. They are working with farmers in Italy, Chile, China,Australia, Korea, France, and the United States to build a supply networkthat can provide a product deserving of the Zespri name faster, and at alower cost, twelve months of the year (Zespri Annual Report, 2 5, p.18).As owners, Chinese farmers reduce their risk by supplying into a largemarket and reap profits from the deliver of the fruit in addition to thegrowing of it.

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