Dsicuss about the Innovation and Sustainable Business Development.
Danfoss producers products that are used for refrigeration air conditioning or heating and the business organisation currently holds more than 70 factories where more than 20000 employees are working all over the world. Man on the moon is a popular high-profile event hosted by this business organisation that involves all the employees of the workforce of the organisation and the mission of this event is to collect the ideas of all the employees of the company so that new innovative and creative ideas do not stop flowing in making it easier for the management to continuously develop the business by gaining a competitive advantage in their market of operation (van Westen & Zoomers, 2016). In this context the challenges the management will have to exploit the knowledge and the ideas of all the employees in order to help the radical ideas to get a platform as in most cases it has been seen that innovative ideas struggle to get through the early stages of the development and the management of Danfoss clearly realised this challenge and therefore has been hosting an event like man of the moon in order to negate those issues.
As it has been observed that for long time survival the key is customer satisfaction and tell lays the importance of innovation. It has been seen that the management of Danfoss realised that in order to satisfy the changing demands of the customers in order to sustain the productivity along with the reputation of the business organisation management will have to introduce numerous innovative ideas frequently so that the management couldn’t sure that they will be able to satisfy the demands of the customers in the near future also (Grobbelaar, Gwynne-Evans & Brent, 2016). In today’s world the rivalry in the market is getting fierce and therefore in order to gain the competitive advantage the management of the organisation has decided to host an event which is named as man on the moon and this event involves all the employees of the organisation that includes more than 24000 people. The concept of the event is that all the employees of the organisations will come up with their innovative ideas for securing the best interests of the company and initiative regarding hosting this event actually started when the management of the organisation realised that in most cases the new innovative ideas have to struggle to get through the primary phase is to get established and therefore man on the moon can become a good platform where the individuals can easily share their ideas and the best ideas will get recognition and will surely get materialized one day.
It has been seen that in today’s world the business organisations are facing issues as there are a lot of ideas generating among the workforce of the organisations but all the ideas are struggling to materialize due to the issues they are facing in the early stages of establishing those ideas as models and theories (Shank, Shockey, & Financial, 2016). There are many reasons because of these types of challenges that the management of the business organisations face while introducing new innovative ideas in their operations and those are lack of exposure of the individuals who have devised an idea that could have been and innovative and beneficial one for the business sectors. Therefore the management of Danfoss tried to introduce an event named man on the moon so that this event could become an effective platform together and materialized innovative ideas collected from all the employees of the business organisation.
It is a matter of fact that if the measures are to be taken to make innovative ideas more easier way and implement those in the operations of the business organisations it would be better if all the management of the business organisations can offer a platform so that the employees can work on their innovative ideas to materialize them for the best interest of their organisations (Busse, 2016). In this regard it can be said that the ideas which are transparent and innovative for all the stakeholders of Danfoss would be selected in the event named man on the moon as this event can effectively contribute to simplify the procedure to introduce innovative ideas in the business organisation in order to satisfy the current and the future demands of the target customers of Danfoss that are changing rapidly.
There are numerous business organisations in the market of operation of Danfoss who has offered are helpful and transparent mediator for MIT realizing the innovative ideas of the employees of these organisations and their for the management of Danfoss has major plan to launch an event named man on the moon so that it could be a platform to help those innovative ideas generated from the workforce of the company to get materialized for the best interest of the company.
It has been seen that the Rapid technological advancement has given a major boost to almost every business organisations and there have been some significant innovations that has been contributing significantly to the success of numerous business organisations (Ketata, Sofka & Grimpe, 2015). Therefore the management of Danfoss has realised that their program man on the moon can become effective together and materialized the innovative ideas devised by their employees as the management of the organisation is blessed with a workforce that involves more than 24000 employees across the world. Therefore it can be said that the ideas gathered from the event like man on the moon can be beneficial for securing the productivity and the profitability of Danfoss in a situation where the demands of the customers are changing rapidly.
The innovative idea of launching a program like man on the moon can benefit all the stakeholders of Danfoss as it can effectively increase the organisational performance of the business that can effectively generate more profitability. It has been observed that if the management of the organisation can effectively create a bank of innovative ideas they can deploy a team that would evaluate the ideas and choose the ideas that could be beneficial for securing the productivity along with profitability of the organisation so that they can earn huge reputation in their market of operation in order to secure the competitive advantage in a market full of rivalries.
Man on the Moon event provides well designed possibilities and innovative ideas to the customers of Danfoss that can be adjusted in accordance with their demands. Therefore introducing this innovative idea to use man on the moon as a launching pad in the business sector of Australia can also in work significant changes in the industry and these innovations can be immensely beneficial to the government as these innovations can give a major boost to the economy of the nation Australia.
With the innovative ideas and transparent operations Danfoss has brought in significant positive changes to the individual sellers and apart from that these innovative ideas are providing benefits to the entire business sector of Australia by giving up major boost to the economy of the country by increasing greater profitability utilising the innovative ideas. After launching an event like man on the moon the business industry has been experiencing drastic changes in materialize in innovative ideas for the best interests of the companies and Danfoss has achieved huge productivity and reputation in the market of operation along with all the internal and external stakeholders of the company.
There are various interdependent features regarding developing innovative and new ideas within the Australian business world. For an example it can be said that launching the event man on the moon successfully can be looked at as related to the action of Australian government regarding providing relevant and necessary resources and support to downforce to bring in new ideas for the best interests of the organisation as well as the economic condition of the country (Marti, Rovira?Val & Drescher, 2015). It can be said that this idea will only get make sure if the management of Danfoss can meet realise the creative and innovative ideas that they will be collecting from the event name man on the moon where all the employees of the company will participate.
The business operations of Danfoss in Australia has received mixed responses from the stakeholders of the organisation but when the management of the organisation launched a program named man on the moon where all the employees of the organisation could participate and shared their ideas the management of the organisation has experienced a significant boost in their productivity and in their retention in their operational market. Gathering new ideas and implementing them on the business operations have ensure that the organisation has been able to reduce the costs of the company and the management has experienced a boost in the productivity of the organisation and therefore it can be stated that this strategic idea of the management of Danfoss has been very beneficial for the company as well as for all the stakeholders.
The management of Danfoss will continue gathering new ideas and implementing them in their business operations in order to sustain their productivity and reputation in there operational market which is in Australia and they will also deploy a team that will keep the management updated in terms of all the necessary friends and changes in the buying preferences of the customers so that they can become one of the leading companies in their operational field.
The primary stakeholders of the business organisation are government of Australia and the investors and the buyers and sellers can be looked at as the most important stakeholders of the company who will get directly benefited from the profitability of the business concern.
The event man on the moon will help to enhance the effectiveness of the business organisation that can significantly help the organization to get more profitability and that can directly benefit the economy of the country
Considering all the above mentioned facts it can be said that the event man on the moon will be significantly beneficial for Danfoss and as well as the business sector of the Australian market and for the Australian government also.
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Risk |
Management |
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Financial risk |
Management should have a plan for mitigating all the risks. |
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More competitors in the market |
Innovations should be incorporated |
The innovation of Danfoss will bring remarkable changes in Australian business sector that will simplify the challenges faced by the business organisation while establishing the innovative ideas that could have been beneficial for the operations of the organisation.
Reference list
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Ketata, I., Sofka, W., & Grimpe, C. (2015). The role of internal capabilities and firms’ environment for sustainable innovation: evidence for Germany. R&D Management, 45(1), 60-75.
Marti, C. P., Rovira?Val, M. R., & Drescher, L. G. (2015). Are firms that contribute to sustainable development better financially?. Corporate Social Responsibility and Environmental Management, 22(5), 305-319.
Ortiz?de?Mandojana, N., & Bansal, P. (2016). The long?term benefits of organizational resilience through sustainable business practices. Strategic Management Journal, 37(8), 1615-1631.
Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2016). Business models for sustainability: Origins, present research, and future avenues.
Shank, T. M., Shockey, B., & Financial, R. J. (2016). Investment strategies when selecting sustainable firms. Financial Services Review, 25(2), 199.
Tukker, A., Charter, M., Vezzoli, C., Stø, E., & Andersen, M. M. (Eds.). (2017). System innovation for sustainability 1: Perspectives on radical changes to sustainable consumption and production. Routledge.
van Westen, G., & Zoomers, A. (2016). Beyond Friend or Foe: Foreign Investment, Responsible Business and Local Development in Africa. In Local governance, economic development and institutions (pp. 243-257). Palgrave Macmillan, London.
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