Conceptualizing a New Product or Service Division of an Existing Business

I would define innovation as the ability to apply this creative thinking to an existing product, solution or approach that improves the outcome of a solution to a problem or usefulness of a product. Innovation is the ability to put creative thoughts to use in a way that is beneficial to a person, product, object, problem or situation. .

As a Senior Enlisted Leader I aspire to develop a better comprehension of strategic issues. Having in-depth knowledge of the complexities behind decisions, processes, and the totality of circumstances is instrumental when addressing matters to Coast Guard field units. Furthermore, this perspective is integral to a Senior Enlisted Leader’s ability to provide timely, complete and reliable counsel to operational and strategic leaders, particularly when making decisions that significantly affect the workforce.

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

When I was a lieutenant, one of my mentors told me that the officers ‘job is first and foremost about leadership. For senior officers, then, one must say everything is about leading strategically. In order to be an effective strategic leader, my self-assessment has led me to focus on the following goals during this academic year at the Air War College (AWC): to improve my understanding of the strategic environment; to learn to be strategically relevant, to shape my ability to communicate effectively at the strategical level.

This is the agreed-upon statement by the organization and explains the reason for its existence. It is necessarily broad to encompass the diversity within the business. The statement is not precise in its measurements nor does it need to be, but it does need to be periodically reviewed by the business to see whether it still encompasses all of the relevant activities of the business.

Innovation is what gives businesses the competitive advantage the company will need to be profitable in the market. Innovation impacts the strategy, process, products and services that a company has to offer. Three organizations that have greatly used innovation are Discover Financial Services, Apple Inc, and McDonalds.

Innovation is an idea that must be cost-effective and must gratify a precise need. Innovation includes careful application of information, imagination and creativity in stemming greater or different values from resources, and includes all processes by which new ideas are generated such as brainstorming and converted into useful products.

This century has been full of innovation. New technologies, new products, new services, whole new industries have emerged. Yet the call for innovation in business has never been more intense. Why? Here is my list of the top ten reasons for why we need innovation. 10. For economic growth This is the most often cited reason for needing innovation. Innovation is the route to economic growth. Industries are maturing. Products are maturing. Innovation is the creation and transformation of new knowledge into new products, processes, or services that meet market needs. As such, innovation creates new businesses and is the fundamental source of growth in business and industry. 9. For

Becoming a strategic leader in the Armed Forces is an exciting but challenging goal. This prestigious role involves many responsibilities. A Volatile, Uncertain, Complex, and Ambiguous (VUCA) environment also characterizes the complex context in which military forces operate. Therefore national security senior leadership requires precise key skills and knowledge, beyond the ones needed at tactical and operational level, in order to be successful. This paper is my personal critical self-assessment of the ability to lead at the strategic level as it stands today, at the beginning of the Air War College (AWC) course. Gaining self-awareness is my first step to maximize the outcome of this course that is just focused on educating the future joint strategic leaders. In the paper, I will also include my personal strategy, while attending the Air War College, to strengthen my identified shortcomings and to reinforce my identified strengths. The Right to Lead Assessment Model (RLAM) is the reference tool I used to conduct this self-analysis in a more structured form.

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

Innovation is not a single activity; it is a process. For businesses, innovation means fresh ideas, developing new products or services and its effective processes. Innovation can be key to any business or company in the future. Bringing innovation into your business can help you save time and money and gives you the competitive advantage needed to grow your business.

Innovation refers to finding new ways to improve the existing products, services, processes, technologies, and employee performance in an organizational setup. In today's competitive business environment, organizations have to focus on bringing innovation in each and every aspect of their business operations; like products or service offerings, enterprise resource planning systems, marketing and promotional efforts, and organizational structure. The market challenges and competitive pressures also force organizations to use a blend of all these innovation processes in their business activities. Therefore, it is vital to give an equal focus on product innovation, process innovation, marketing innovation, and organizational innovation within the limited organizational resources and capabilities.

As military members we are educated to think very linearly about strategy. For many years we have been trained to have a strategic thought process based on the use of a methodology that espouses three major steps: Ends (Objectives), Ways (Strategic Concepts), and Means (Resources). (Barber 1997)

Innovation offers the companies a competitive advantage. Presently and within the future, more than any time in history, the key to competitive advantage is innovation. However innovation will facilitate businesses meet all of their strategic challenges, not simply competition; to illustrate, in confronting accelerating rates of change, globalization, apace advancing technology, a additional numerous workforce, associated a modification from an industrial to a knowledge-based economy. Meeting all of those challenges helps the firm attain competitiveness, and meeting these challenges suitably depends on innovation. Innovation allows a firm to workout its challenges in distinctive ways in which build competitive advantage either through relative differentiation, a relative low-priced position, or few acceptable level of each. Innovation cannot assure success, however success cannot be achieved within the end of the day without it.