Current Issues on Management: Innovation and Change Management

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In the today’s business world, change and innovation have become indispensable aspects for every organization that wishes to survive long-term in the market. This is simply because the modern market is characterized by an extremely high level of competition. Subsequent to this fact, therefore, many organizations have invested a significant amount of their resources on innovation as well as in promoting change. These efforts are deemed to contribute significantly to the realization of a modern organization’s goals. Change and innovation has become one of the basic concepts in the modern organizations. An organization’s competitiveness is determined by its desire to embrace innovation or introduction of new and/or modified products in the…show more content…
In other words, innovation and change acts as supplements. Either internal forces or external forces or both can trigger change in an organization. In every organization, change plays a particularly important role in promoting the general performance of an organization. One advantage of change is that it can help an organization in reducing its operational costs. Through change, a company can adopt those processes that are associated with lower costs. For instance, several technological developments have greatly enabled organizations to increase efficiency. In this regard, every organization must be able to make necessary changes in order to accommodate currently prevailing technology if it has to retain a competitiveness edge against its competitors (Daft & Marcic 262). For a company to remain innovative, it must be not only open to the introduction of new products but be in a position to introduce such products successfully as well (Kotter & Schlesinger 89). This means that in order for an organization to introduce new products effectively, it must be able to adopt changes that further promote its ability to come up with new products. In adopting change, an organization must be in a clear position to identify the need for change within an organization (Ramus 50). Such a position helps by motivating the stakeholders to divert their interests towards the realization of the expected change. It is also
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