Innovation,vs.,Traditional,Pra business, insurance Innovation vs. Traditional Practices: To What Extent Does In
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When it comes to industry buzzwords, few terms have more power than innovation. Capitalism is credited with fuelling innovation, and innovation has led the way toward modern life. However, innovation should be viewed with a degree of scepticism for businesses, and tradition sometimes has benefits over innovation. Here is an overview of the concept of innovation and how it should be viewed by businesses of various sizes. For large companies, innovation isclearly a key for success. Before the release of the iPod, Apple wasstruggling, and the company would have gone bankrupt without a loan fromMicrosoft. With the release of the iPod, the iPhone and the iPad, however,Apple has vaulted into position as the top technology company in the world.Apple's innovation has more to do with synthesizing multiple ideas instead ofcreating new ideas, but their innovation has paved the way for years ofsuccess. It should be noted, however, that innovation for large companies isnot without risks; had the iPod flopped, Apple would have lost a considerablesum of money and may have had difficulty surviving. That said, Apple wasstruggling to survive off of their desktops and laptops, and [url= http://www.london.edu/programmes/executiveeducation/leadingchangeprogramme.html]Leading change [/url] was necessary for them tosucceed.For small businesses, innovation needs to be cost effective. Small businessescannot take many risks, and one failed product launch can spell disaster. Formany small businesses, effective innovation deals with creative pricing schemesand clever advertising. However, there is room for offering innovation in termsof the products and services that are offered. A company specializing computerrepair, for example, can sell specialized tools designed to monitor clients'computers. There are still risks involved, so small companies will want toensure that they can survive a flop.[url= http://www.london.edu/programmes/executiveeducation/leadingchangeprogramme.html]Leading change [/url] in the office is also apopular concept, there may be some rewards for companies that innovate in theright way. In general, office innovation should revolve around increasingemployee productivity. In some cases, [url=http://www.london.edu/programmes/executiveeducation/leadingchangeprogramme.html]Leading change [/url] in the office may be about giving employees a loudervoice in meetings. The best ideas often come from employees instead ofmanagers, and companies that can tap into the latent innovation present intheir employees may be able to succeed.Innovation fuel success across the globe, and innovation has transformed thetransportation, medical and educational industries. However, businesses shouldbe assured that is still rely on traditional business techniques whenappropriate. Innovation is no guarantee of success, and innovations that failto bring in capital will likely lead to poor outcomes.
Innovation,vs.,Traditional,Pra