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Innovations form the main sources of competitive advantages and are always of significance for the growth of a company. Companies or organizations put their greater efforts in improving their performance by finding new ideas and knowledge on the best way of beating their competitors and therefore give satisfaction to their customers. There are various factors involved in the innovation design system which can be either internal or external.

Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being “new”, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technologies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that “innovation is also critical to cultural, environmental, social, and artistic progress as well” (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a

The fast food industry provides quick, cheap, and easy access to foods that in the customers opinion, is very delicious, and affordable, however this food which millions of people around the world are constantly consuming, could actually cause major health problems, and weight gain in the long run. Major fast food companies throughout the world know what they are doing when it comes to marketing towards all types of people. Some people will find numerous different things to blame for the epidemic of fast food making individuals overweight. In recent research on, or discussions of the fast food industry having an effect on people's health, a controversial issue has been raised, and that is the fact that this problem affects not only

Tidd and Bessant (2009) argued that “Unless an organization is able to move into further innovation, it risks being left behind as others take the lead in changing their offerings, their operational processes or the underlying models that drive their business”.

❖ Innovation is the main driver behind competitive advantage in the marketplace. Therefore real commitment to innovation will require heavy investments in products, partnerships and research.

Obesity is an epidemic in the United States that comes with many health problems. The Center for Disease and Control stated that in adults in the U.S. alone, more than 36.5% of adults are obese (“Adult Obesity Facts”). Although fast food chains are everywhere, it is not the food industry’s fault that people are deciding to eat junk food. People will claim that fast food chains encourage one to consume unhealthy foods, it all comes down in the moment that it is the individual’s choice to consume unhealthy foods.

Innovation can be expressed as the application of new ideas to the processes and products and all the productive activities of an entity that can result to increased productivity and value. The new idea that alters how products and services are offered has the potential of bringing benefit to all the stakeholders within an enterprise. It is erroneous to assert that there is a correlation between the rising level of unemployment in the global economy with innovation and technology. A single gadget that can perform work that can be done by a group of individuals, but the benefit of innovation far outweighs the few changes in operations that lead to reemployment and loss of jobs (Andersen 160). In a global economy innovation has been a key factor that enabled companies to maintain their competitive edge, increase and improve production and operation processes and generate adequate profits to remain in business.

Some companies are able to sustain innovation over the long run, and their competitors find it difficult to replicate this success. For the innovative company, that innovation pipeline becomes a key source of sustainable competitive advantage. There is no one magic formula for innovation, but for the most successful firms it stems from a combination of leadership, culture and processes. This paper will take a look at some companies with strong track records for innovation, and analyze why those companies have been able to succeed where their competitors have failed.

Everything is fair in love and war; and competition in a business environment is like a cold war. Innovation has always been the major strategy used by businesses around the world to stay competitive. The traditional paradigm of innovation was to improve the performance of the existing technology, thereby steeping up the performance trajectory. However, value creation for customers may be much simpler than high performing technology. There is

The need for organisations to innovate is one of the most important functions to undertake in order to stay viable. There are many factors that impact on the organisation, mainly the internal and external environments. However, the external environment is largely the main cause to innovate, with the use of technology helping organisations of all sorts become more efficient and effective in the way that they do business. Also, technology is making it a lot easier to access information from all over the world with a single click of a mouse

The design and innovation are not the same of product and services providing organization. This is a good lesson for this module and it is will shown from theoretical and applied aspects form different organizations. Some features of business innovations are discussed with their relative importance. Flexibility, cost effectiveness, moving from product to business, innovation in risk management, innovation in different economies, different customers, techniques of using data in the innovation process are important dimensions. One cannot get immediate benefit from innovation. So, it one sorts of investment and will facilitate business process in the later period.

Innovation refers to the change or creation of more effective products, ideas and processes which increases the prospects of the business thriving. This encourages more proficient work processes, enhanced productivity and performance. Innovation is not defined as inventing. It can also mean changing the business model and adapting to environmental changes to generate improved products or services. Invention and innovation is a continuous process as products are drastically improved compared to the first marketable models due to the incorporation of numerous of various inventions and innovations. Implementing original ideas, improving existing services or manufacturing dynamic products can all be a catalyst for the success and growth of

Every invention is faced by challenges and opportunities, which need to be taken into consideration. Innovation doesn’t only look at having an idea but solving a solution to a problem and adapting ideas, which have already existed. “Innovation is the specific tool for entrepreneurs, the means by which they exploit change as an opportunity for a different business or service”. (Joe Tidd, 1997)

What should a company do when its core product is considered “unhealthy” or even “harmful” by the public? Is it even possible for such a company survive and thrive; or will it have to shut down its business? McDonald’s fast food has for a long time been considered unhealthy by the public. In recent years, the health conscious trends have become increasingly popular. Moreover, many scientific studies and findings have surfaced and successfully confirmed that children’s increasing intake of fast food, which often contains high sodium content, sugars, saturated fats, and calories, for a long period of time would lead to childhood obesity. Moreover, obese children have a much higher risk of many health

In addition, Amit, R. & Zott, C. (2012) described that there are many reasons for what the generation of new ideas is becoming critical for different businesses. Though, every company has its own main concerns and issues to handle and balance. The companies that cannot avail opportunities and fail to innovate mostly lose their ground to their competitors, lose their efficient and talented human resources and decrease their organisational efficiency and productivity. Most importantly, innovation can be a competitive advantage and a key differentiator of an organisation. Additionally, innovation can be a remarkable difference between leaders of a specific market and the rivals.