Evaluating The Implications Of A Transformation Innovation

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

Innovation brings changes, and for bringing desirable and appropriate changes, a clear understanding of innovation is vital. A plethora of discourses indicates what innovation is, but it remains fuzzy because of contextual biases and disparity (Crossan, M. M., and Apaydin, M., 2010). The literature of innovation, on the other hand, refers to innovation as a category covering a wide spectrum of issues that include a source of change (cause), a changing process, and a changed state (effect), which appears ambiguous because the cause, effect and the process in-between cannot be the same.

Innovation and innovation strategies are critical to keeping companies competitive in their chosen fields of endeavor. Consumers benefit significantly from the availability of and access to the latest in technology. This paper

Key goals of this paper will be to provide a structure for thinking about innovation across the fields, highlight important streams of research on innovation, suggest interrelationships, and provide taxonomy of related topics.

Furthermore, the true significance of disruptive technology even in Christensen's conception of it is not its displacing of established products. Rather, it is a great means for enlarging and broadening markets and providing new functionality. And according to Utterbacks’ explanation: “The degree to which the market was expanded by the innovation seemed to be the strongest factor favouring new entrants”, a possible conclusion might be that this leads to a never-ending circle.

Technological change is a fundamental driver of economic development and performance, not only at the level of firms and industries but also economies. Innovation is the organizational process through which new

In addition, there are different stages of technological change. The fast growth stage is when the product starts with a concept and then has fast innovation. The “Wild, Wild West” stage is also fast innovation but for smaller companies taking risks. The consolidators are in the steady evolution stage that are in the mature life cycle and use economies of scale. Lastly in the creative destruction stage there is new knowledge and competencies and the company seeks other industries to joint venture (Mello, 2011, p. 145).

However, the process of innovation is closely linked to the understanding of innovation – whether it is an act of bringing changes or consequence of an action which represents changes. It is easily understandable that any particular action does not ensure the same outcome but may bring changes, and all changes are not considered innovation. So, it is imperative to develop a clear understanding of the concept for proposing a generalized process of innovation.

Tidd et al (2000) states, “the innovation is a business process of revolving opportunity into new ideas and of putting these into widely used practice. In term of the nature, there are five major types of innovations: novelty, competence shifting, complexity, robust design and continuous improvement. While in term of the extent of change, innovations can be divided into incremental, radical and

Disruptive Technology (DT) was first introduced by Bower and Christensen in a seminal journal article (Bower and Christensen, 1995). Christensen (1997) concept of disruptive innovation to describe innovation that has destructive effects towards of existing mainstream incumbent firms the competitiveness the introduction. Disruptive innovations are innovations that aim at improving a product or service that the market is not expecting (Grant, Hackney, & Edgar, 2010) and their continual improvement and refinement often leads to the removal of entrenched industry incumbents (Grant, Hackney, & Edgar, 2010) ,which leads to the disruption of the mainstream market

Change may take one of three forms. Incremental change is relatively small in scope, and as such, results in small improvements. Strategic change is a larger scale approach that is similar in magnitude to a restructuring effort. Transformational change moves the organization toward a radically different, and sometimes, unknown, future state.

• Describe each of the four kinds of organizational change that can be promoted with information technology.

Innovation is normally used to denote the process that takes place when a product or a process is developed, from idea to market; the concept of invention only denotes the process that takes place when new ideas or solutions are generated. Baumol (2002) argues “is it possible to have lots of inventions and still lack innovations. Nevertheless, inventions are a necessary precondition for innovation”.

There are two common types of change and organization goes through. These are known as evolutionary and revolutionary or also known as transformational and incremental (CSU – Global, n.d.). Evolutionary is when change happens gradually, incremental, and is specifically focused (Jones,

Technological - Technology has been changed day by day which directly effect to that related market and benefited to customers.