Business Innovation Case Study: Portugal Telecom

Innovation may be linked to positive changes in efficiency, productivity, quality and competitiveness, among other factors. Benefits of innovation could be the improvement in the workforce. By improving the workforce an organisation will benefit from increased productivity and improved morale and lower staff turnover. Employees will feel more valued which therefore increases motivation. This is beneficial to employers because it provides the organisation with knowledgeable, reliable staff who will have a more positive contribution to the needs of the organisation. Staff are a valuable source of innovation, even if it is not expected as a major part of their job. An innovative work environment means being creative and try new techniques. As Albert Einstein said “if you always do what you’ve always done, you will get what you’ve always got.”

Exporting has become a very important business strategy nowadays. In order for firms to expand to the international market, and also to maintain and grow their share of market in whatever industry they are in, depending on their goals and objectives, any company must at least explore this possibility. A few and important advantages might come into place, in that they can extend their sales potential of their existing products, increasing margins through a larger customer base. Also, these small to large businesses can consolidate by gaining global share of market, they can reduce their dependence on their existing markets,

Ambiguity in understanding innovation as a phenomenon makes the process of innovation arduous and uncertain. As a result, innovation occurrences in business and social contexts as and when required appear uncertain especially when the exigence for innovation at all levels of social life has been heightened by many folds, especially to face the challenges of the 21st century.

Corning has had a strong dedication to technology and innovation. However, heavy dependence on a single line of business of telecommunication led it to financial challenges. The case tells us about Corning’s strategic approach towards exploring new business prospects and large opportunities for its future sustainability. Corning’s road map for innovation in new market and technologies is systematic and structured. The dimension of this case is to answer the question how do entrepreneurs identify opportunities for new business ventures? According to Robert Baron, one

Innovation is a cornerstone for any organization aspiring to set their visions high. The accentuation of an enterprise that needs to develop technology expeditiously would be: advertisement insights, analysing major trends and the need of a flair for professionalism which often brings us to crowdsourcing alternatives. "Innovation is: production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and establishment of new management systems. It is both a process and an outcome." (Edison & Torkar, 2013)

To develop knowledge and understanding of innovation and change as required by a practising or potential first line manager

Innovation is an important tool in all companies and organizations. It helps them to create new products or change their current products in a way that brings them huge competitive advantage. It changes how the products are created and delivered and the risks that are undertaken to deliver the products. Regular and focused innovation is thus extremely important in the survival of organizations as is evidenced in the history of many of the successful organizations(Shane & Ulrich, 2004). In the IT sector, innovation is extremely important and is even known to be a priority. Various government agencies as well as private sector companies have stated that lack of innovation is a huge risk to the future of the organization and should be avoided at all costs. These sentiments are shared across the governments of Australia, UK, Canada, US, India and South Africa. This is to show that the importance of innovation cuts across all continents and countries(Bessant & Tidd, 2011).

Being innovative does not only mean inventing. Innovation can mean changing the business model and adapting to changes in the environment to deliver better products or services. Successful innovation should be an in-built part of a business’s strategy to create a culture of innovation and lead the

According to Baregheh et al, innovation is a multi-layered tool where ideas are converted into improved processes, or commodities, or results or services (2009). In a hyper- competitive environment, organisations rely on innovation as a vehicle to further advance, thrive, challenge, and maintain a comparative advantage over other organisations in the same field.

Innovation within my organisation is about creating and successfully applying new ideas in this particular field. This could be in the form of such as creating and bringing a new product or service to market, or a series of smaller

Innovation can be seen as a journey that starts with setting a purpose or goal, and ends up with innovative achievement and new learning.”

Through innovation, we are expanding our thought processes in order to devise new ways of measuring data, (Spitzer, 2007). It is important to recognize that methods of transforming measurement can vary in successful outcomes. Transformation that is successful for one organization might not be applicable for another, (Spitzer, 2007). Business practices vary, establishing the need for different applications of measurement. Measurement in leadership is unfortunately not recognized as a useful tool in management, (Spitzer, 2007). Quite often measurement practices are delegated to accountants and people that specialize only in measurement, (Spitzer, 2007). Leadership fails to recognize the importance of measurement as a contributing factor to enhancing performance. Measurement is usually identified as a technical activity, which in fact it is an invaluable tool for making effective change, (Spitzer, 2007). Measurement is actually a driving force in operational success, therefore it plays a significant role in productive outcomes,

Abstract: This report explores P&G's "Connect and Develop" open innovation initiative. Its focus is to analyse this innovation strategy in the context of the formal academic theory, other P&G's programmes and the company situation. Its objective is to understand the impacts, challenges and problems of implementing a large open innovation initiative inside a corporate giant such as P&G. Keywords: Procter & Gamble, P&G, Open Innovation, Connect and Develop, Innovation Networks

For years, companies have been working closely with external partners. For instance, through joint projects with universities; they gain access to the latest findings from pure and applied research, which can be used by their internal research and development organizations. However, when it comes to Open Innovation (OI), it goes one step further and integrates external problem-solvers into the innovation process. This methodology is also taking place at Siemens. When it comes to a company’s R&D department, it is no longer the only source of innovation. Thus customers, suppliers, companies, and online communities also play a crucial role in development process. Based on the analysis of the Harvard Business Review Article about Open Innovation at Siemens (2003), company was involved in the process of OI on the initiative of two people, Dr. Thomas Lakner, head of CT’s Open Innovation and Scouting and Dr. Norbert Luetke Entrup, head of the Technology and Innovation Management group within Siemens Corporate Technology unit (CT) (Hutter et al., 2013). The case outlined ways Siemens promoted Open Innovation within an organization and the challenges managerial board faced implementing it. The main questions of the case are whether Siemens should pursue Open Innovation or give up on it and how Siemens should overcome challenges when implementing Open Innovation Processes. The main challenges mentioned in the case were the organizations’ complex structure and top down

Companies live and breathe innovation; or, at the terribly least, notice it basic to their success. Such companies are those that others ought to emulate for they recognize that to do business, as Peter Drucker prompt in an exceedingly recent Harvard Business review article, “Every firm—not simply businesses—needs one core competence: innovation.”