Innovation Planning and Design Paper
Tanisha Abdat
MGT/411
October Monday 5, 2015
University of Phoenix
Innovation Planning and Design Paper
One of the main sources for Organizations growth and competitive advantage is innovation. The innovation process requires people in the company to become involved in many business functions such as marketing, sales, manufacturing, and distribution. During the innovation process, companies need employees with many diverse skills to test, develop, and commercialize the new services and products. To foresee innovation organizations must analyze the internal and external factors related to designing innovation strategies and understand how they relate to one another along with the overall innovation. Organizations may decide which part of the business design needs innovating such as products or processes or a combination of both.
Internal and External Factors to Designing Innovation Strategies
When it comes to internal and external factors that affect an organization, one can only control them to a degree. Interpersonal relationships, training materials, newsletters, mission statements, and policies are internal communication. Employees need sufficient information, to do their jobs effectively. This sufficient information comes from the managers, by way of mission statements and goals. There is also a structure, which is an internal factor that affects the business day-by-day operations. Developing teams and departments is a part of the structure within the company.
External factors start with the economy and how it affects the success of the company. These factors occur outside of the company that causes some changes within the company, beyond the company's control. This is based on customers, competition, the economy, technology, and other resources. This interferes with the company's growth, operations, and long-term sustainability.
Innovations shall be thoroughly investigated and studied to...