Question

Reflection on the complex subject of creativity, discovery, and innovation, what do you project for future challenges, trends, and opportunities for organizations? Will organizations embrace innovation or revert to production? Should they and will it be done the same as now or in a different way? Where are we going when it comes to being an innovative society? Support at least one of your ideas with one academic reference, appropriately cited.

Answer 1

Customer preferences, requirements and desires are continuously changing with change in time. The biggest challenge as well as an opportunity for organizations is to continuously innovate and produce new strategies, products and services to cater to this ever-changing customer requirements. This is a challenge as the manufacturer and service provider firms have to continuously invest and plan strategies to create value for customers. Also, the competition is getting fierce day-by-day. Resulting in organizations being focused on improvements. Thus, to cater to the trends in customer preferences, organizations strive to produce innovative products with new and additional features.

Organizations would definitely have to embrace innovation, else they would perish in the market.. Today's market is customer driven and manufacturers and service providers are facing tough competition in the market.

No, change is the only thing that is constant. The organizations have to strive towards innovation. They need to be attractive and provide break-through products or services in order to fulfill the thirst of customers. If they fail to do so, their competitors will soon replace you in the market. The trends of innovation are changing and so is the innovation pattern.

We are going to a a market which is going to be continuously changing. The market is so dynamic, that it would take lot of skill and deep market study to innovate and produce a variety of products and services to cater to each and every market segment perfectly. Our society is going to be so innovative and creative, that customers would be able to customize the products and services as per their requirement. This customization will be to the highest level and provide the customers the ability to quench their ever changing thirst for new and innovative products and services.