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What Is The Topic?. What The Topic Is Concerned Of Is How

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What is the Topic?
What the topic is concerned of is how a company innovates and changes, both as a company and for its products. In the simplest of terms, it is essentially the changes and advances a company makes. From there it breaks down into the types of innovation and how it works in the corporate world. Then there’s change which involves how a company responds to market changes and how does it organize itself to handle change.
Why Is This Topic Important?
The most obvious reason would be that innovation is needed in order for a company to stay competitive. Let’s use Ford as a pretend example, Ford decides their truck lineup is good enough so they’re going to stop changing the product and keep it as is forever. Asides the fact that
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Ford’s sales would absolutely tank, they need to continue to innovate the brand to keep up sales and stay competitive. This is what makes innovation crucial because it keeps companies competitive with each other.
What Is the Challenge Here?
The challenge here is how does a company want to innovate and how will they control it. The company has to decide what technology they wish to pursue to innovate their products. Then they have to decide how they will be able to that, and then execute on such. How does the company want to innovate, how will they innovate, how will they respond to changes? A company has to answer questions like these, it often takes careful planning and setting goals for a company to be able to satisfy such questions.
How does Your Company Handle this Topic?
Ford is heavily influenced by this topic, shifting a great deal of their focus towards it. What’s interesting with them however, is that they’ve recently pushed for taking risks and trying experimental innovation. Just recently at the 2015 Consumer Electronics Show, Ford announced 25 new projects whose involvement range from car insurance, medical, parking lots, to mobile apps. The company has been experimenting heavily with their mobility technology, innovating to see just how many markets they can enter with it. While being more experimental, Ford has also pushed for more
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