How Innovation Affects Intel’s Four Functions of Management.

How Innovation Affects Intel’s Four Functions of Management.

  • Submitted By: yelenat2003
  • Date Submitted: 10/20/2013 4:08 PM
  • Category: Business
  • Words: 372
  • Page: 2
  • Views: 129

How innovation affects Intel’s four functions of management.
Intel has always been starving for innovation in order to stay competitive. In its mission statement Craig Barrett says:“to supply products that are performance and price competitive, of high quality, and when the customer wants them…offer competitive compensation and opportunities for continuous professional development…deliver a good return on stockholders’ investments…and work hard, as a global citizen, to achieve the goals of the triple bottom line.” In order to deliver high quality product for competitive price, a company has to invent and improve the invented product. He also said in one of his interview’s that innovation will define corporate and country competitiveness.
Innovation is going to influence all functions of management. Company has to create and plan and strategy to be competitive by inventing and updating the new products. Managers need to be proactive and listen carefully to customer’s feedback and also employee’s feedback. Customer’s demand will create ideas to what company is going to invent. Employees are going to provide a feedback what they hear from customers in regards to using the product. When creating new products, the work needs to be divided smart among creative professionals so that it will be properly organized and done on time. Every project group has to have a leader, who is going to make most of decisions on how to create a product and make sure that group is compliant on standards. The quality team needs to control the final product and correct any issues before customers complain about the defect. Inventing new product is very important, however planning, organizing, leading, and controlling the innovation process is not any less crucial. Craig Barrett believes “innovation is needed in order to design a better environmental management system in the U.S. and to improve the environment. That is why Intel is participating in EPA's Project XL - Facilities...

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