New Product Development at Canon: The Contact Sensor Project

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.”

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

| Thomas, in regards to the line you comment on "innovative changes often originate from lower levels of the organization", I totally agree withthat statement due to the fact that those lower level employees are the ones who are working in the fields, in terms of having their hands on the equipment and having the full knowledge of what improvements are needed in the work field. Innovation often derive from insight and even frustration at times. Good post.

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)

The variety of modern industries such as aerospace, biotechnology, video game development, and technology has created a strong culture of innovation both in professional work

This research intends to explore innovation at an individual level, but in a context, where the roles and functions of an organization appear eminent either as a promoter or an inhibitor of innovation.

For an organization to continually grow, innovation must be embedded in its culture. Innovation is a behavior that is required to be a part of every employee’s job. This necessitates an organization to present its employees with platforms wherein they can express their ideas such as the LIG program, as in the case of General Electric, to deliberate organic growth day in and day out. Innovation is effectively advertized in an organization where managers individually and collectively lead by example by way of their behavior, their

In addition, I will review how certain processes and systems could hinder innovation. Lastly, I will explain what organizational structures or processes could foster a culture of innovation at my present employer. [Good work suggesting the scope and purpose for the assignment. I’ll look to see how you make your points including your research and support for your analysis.]

Comcast brushed away its main competitor by purchasing a greater share of Time Warner. The major failures of Kodak were majorly because it failed to embrace and market new technologies for fear of hurting and damaging the company’s lucrative business in the film production at a time when new digital products were being reshaped. Management in the Kodak Company did not fully grasp how the world was gradually reshaping and therefore could not remain in the industry. They still hung on to old -fashioned technologies and assumptions how, where and who took the pictures. Large companies in the media industry should learn to embrace new trends that are appealing to the consumers’ tastes and preferences. The la carte approach is one example of such a new technology and program that should be embraced by all media companies (Einstein,

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

To account for their miscalculation in film sales, Kodak is undergoing a massive digitally based shift. Kodak plans on building a stronger base in its consumer, medical, and profession imaging products. However, this shift does not come without a price tag. Kodak’s projected spending could reach as much as $3 billion in future investments to aid the shift. With these investments Kodak claims a tremendous turnaround in revenue. Kodak anticipates reaching $16 billion in revenue by 2006 and $20 billion by 2010. To pay

While Kodak has historically been a well-established brand name in the marketplace, it struggled to find a niche when the industry morphed from a film-based market to a digital-based market. Kodak has struggled to successfully evolve its film-based business structure to the new structure of digital-based technology, which has allowed for competitors to enter the market, decreasing Kodak’s market share. Competitors (such as Canon Inc., Fuji Photo Film Co., Hewlett Packard Co., Nikon, and Sony Corp.) have posed major threats to Kodak’s livelihood. Kodak faces a 5% drop in film sales (2001-2003) and a 3% reduction in overall revenues over the same time period. In addition, revenues and net income are expected to be fairly flat (or decrease) in future estimates. Kodak faces much pressure to revitalize their business through digital imaging, a radical innovation, or risk being eaten alive in an industry they thought they controlled.

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.

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.”

This report is focusing on the strategies adopted by Canon and the strategies when Canon is facing competitions. This report shows that how Canon survives in the market and keeps its long lasting growth in market and profit.