INNOVATION AND CHANGE Essay Example | Topics and Well Written Essays - 2500 words

INNOVATION AND CHANGE - Essay Example The organizations which can excel in these activities would be in a better position to fetch a continual competitive advantage over its competitors. The successful and effective utilisation of the inventive technologies and new resources is very much dependent on the capability of an organization to indulge into innovation. However, the introduction of such new technologies can bring in some complex challenges as well as opportunities, leading to considerable changes in the managerial practices to form new organizational environment. As in today’s environment, the organizational and technological innovations are entwined. In the year 1950, Schumpeter considered organizational changes, along with the new processes and products, new markets as the key factors leading to ‘creative destruction’. ... One of the significant issues in carrying out research on innovation is to exactly define the concept, ‘innovation’. There is no need to say that ‘innovation’ is something new or original. Beyond this concept of freshness, the dentition of ‘innovation’ would vary in accordance with academic perspective as well the application of the same. A number of researchers have agreed to the fact that an implied aspect of innovation is surely its usefulness. Hence, it distinguishes the ‘innovation’ from any invention as inventions may not have a practical application. More precisely, as per business sense, it is very much desired that innovation would be contributing to the firm’s performance in one or the other way. There is an ongoing debate whether innovation is a mere process or an outcome of the same. This is significant and may be useful in studying the innovation stages as part of organizational processes. Even, the differences c an be useful to find out at which point the organizations become innovative. Another concern has been raised in defining the ‘innovation’. The innovativeness of any firm can demand the firm to be the first mover in any market or innovator in activities. In the year 1983 Rodgers and after 10 years in 1993, Dowling had said that the firms are required to be among a specific percentage of the adopters to be innovative (Read, â€Å"A Definition of Innovation’). The concept of innovation is pretty wide as there can be various types and stages of innovation and varied level of analysis. In the year 1997, Gopalkrishnan and Damanpour had identified three kinds of innovation: radical versus incremental, technical versus administrative