Question

How can a company encourage innovation? Give several examples of companies that have been innovative.

The answer should include introduction,body and conclution in 350 words.

Answer 1

Innovation is the introduction of any new ideas or thoughts or processes, which may lead to a breakthrough consequence or result for the organization and its goals. With more organizations planning to deliver quality services to its customers, the competition in the market space became more intense.

• This urged the companies to incorporate more innovative and novel ideas to improve their operational processes which also enable better value addition to its services.

• Introducing and adopting new innovations will also open up new sources of revenue to increase profit and business scalability as customers will always be interested in new things. This will also lead the business to be more collaborative and will open up new markets to explore and tap in.

Most of the organizations encourage innovative ideas to be absorbed within its internal operations as it surely will improve the quality of services provided. Organizations can encourage innovation by the following methods:

• Create a pool of highly talented and experienced people to brainstorm for innovative ides in a particular domain.

• Extensive research for new concepts and ideas.

• Utilization of information technology resources and personnel for generating new concepts and ideas.

Different organizations are encouraging innovation for improved services and operations in diverse manners, which suit the internal working and policies of the company and the workplace culture.

• Apple, which gave the revolutionary products to the technology world like iPad, iphone and other related products and services, was very keenly introducing and integrating innovative concepts and strategies tor their success.

• MacDonald's, the famous burger company, used drones to deliver burgers and pizzas to their
customers.

The use of technology and information system was really an important feature of innovation in many companies.