Discuss about the Innovation is not Business As Usual.
Innovation management is a process that is associated with the change management. However, innovation is not only a business it refers to the improvement of the existing idea and knowledge of the individuals (Dangelico et al. 2017). On the other hand, by providing innovative idea the business owner is not able to get success. However, besides innovation, other elements like market analysis, competitors’ analysis and demand of the target audience are necessary for any business. Therefore, for a successful business innovation, there should be the resemblance between the new and existing product and the innovation should be customer oriented. This literature review will focus on the innovation in the context of George Weston Food in Australia. This organization is a well-known food manufacturer in Australia. Hence, the purpose of such study is to understand the proper innovation process and the consequences of the innovation process associated with this organization. Moreover, the drivers of product innovation will be critically analyzed in this literature review.
George Weston Food Limited is one of the popular Australian food manufacturers and it is associated with the development of British food and diversified international foods. However, they offer the high quality product to the customers. Processed meat is one of the innovative items of such organization. They have started to provide processed meat to the customers on special occasion. Providing fresh and processed meat is a new innovation of such organization (Weston.ca 2017).
Four key drivers are associated with the business innovation including inventor, entrepreneurs, and extreme individual and super mentors. However, the inventor brings the new idea for the product innovation in an organization. Hence, by using the natural talent the inventor absorbs information and nurtured it. Entrepreneurs manage the creativity that is associated with new ideas. However, the team members come with the new ideas to their managers and the manager encourages them by accepting their ideas and by providing them reward that leads the employees to develop more innovative ideas (Zaefarian et al. 2017). On the other hand, the extreme individuals are associated with the building relationship with the team members in an organization.
A strong relationship between the employees in an organization boosts the creativity of a team associated with some new ideas (Rodríguez et al. 2017). Moreover, the super mentor creates a good culture for the innovation as cultural change leads the innovation to be more regular within an organization. However, in the context of George Weston Food super mentor is required to give shape their innovation by establishing a good culture in this organization. This will allow the organization to gain success by offering the processed meat during the occasion, which is their new innovation.
Development and implementation of a new product consisting of various stages that need to follow and maintain properly by an organization. In the context of George Weston Food, they are going to innovate processed meat by reducing the sodium from the meat. According to the WHO it is essential for the food industry to reduce sodium content from the food and make it healthy (Zaefarian et al. 2017). In order to give shape their new idea, it is important to use the latest technology to design the new product according to the need of the target market. Best practices should be incorporated to develop the new products (Hu and Zhou 2017). Apart from this establishment of the collaborative learning culture within the organization is crucial for the development of the product. In order to develop and implement a new product involvement of strategy is essential.
Definition of the product features and development of the pricing is necessary for the implementation of the innovative product. Different groups are involved as for example both internal and external stakeholders are associated with the implementation and development of the new product (Zhan et al. 2017). Internal stakeholders refer to the employees and external stakeholders refer to the clients and the audit agency. In the context of George Weston Food, they want to offer processed meat thus the external agency needs to carry out an inspection about the reduction of sodium from the meat as processed meat should be sodium free. Therefore, the internal stakeholders that are the employees are associated with the development of the new products by creating the proper strategy. On the other hand, George Weston Food want to innovate their product during the Christmas occasion thus a proper market research is required in order to identify the current demand of the target market during this occasion. The cost of the entire innovation process is $45 million as the development of processed sodium free processed meat requires high investment.
Product innovation is associated with the business growth for any industry. However, innovation may bring positive and negative effect on the business performance (Mamun 2017). In the context of George Weston Food Ltd., they are going to innovate sodium free processed meat for the Christmas Eve. This innovative idea will lead the business organization to maximize their sales revenue generation during this occasion. However, people are health conscious in the recent years and they want to get ready and healthy food materials that are easy to cook (Wu and Wang 2017). Hence, sodium free processed meat can satisfy the target market in the context of George Weston Food Ltd. Such innovation in the product feature will attract the customers towards this product and leads this organization to gain competitive advantages in the global market. On the other hand, development and implementation of the new product will improve the brand image of such organization and customer loyalty as well as it also increases the customer numbers in this particular occasion.
Innovation often leaves the negative effect on the organization if the operation during the innovation is not maintained properly (Cui and Wu 2016). In the context of George Weston Food Ltd., they are going to develop sodium free processed meat. However, reduction of sodium from the food is associated with the increased cost that may enhance the production cost of such organization. Hence, high cost during the production leads the organization to face loss in their business. For every business organization, it is important to develop the specific innovative idea that is cost effective otherwise it may hamper the growth of a business. Therefore, innovation should be current market oriented (Zaefarian et al. 2017). However, if George Weston Food innovates their product without detecting the demand of the current market then it will be too hard to them to achieve success through this innovation. This organization will face huge loss through their innovation due to lack of proper market research. Apart from this high cost of the processed meat during the Christmas can decrease the sale of the organization as people want the quality product with low price. Hence, due to high production cost, it is difficult for this organization to give the discount in their product sale, which affects their business.
Product innovation leads the organization to face major changes in their production. However, both negative and positive outcomes are generated during the innovation of the product (Jean et al. 2014). In the context of George Weston Food Ltd., they want to innovate processed meat that is completely sodium free in nature. This innovation is associated with the high production cost. As a result, such organization needs to invest more in such innovation, which brings changes in their budget plan for production cost. Hence, it can be demonstrated that innovation is not a business as to give shape an innovative idea a huge investment is required in the production. Therefore, the proper market analysis is another vital area related to the innovation (Mamun 2017).
George Weston Food limited is going to launch sodium free processed meat during the Christmas Eve. Hence, it is important for such organization to develop new strategy and skills to carry out a proper market research to understand the current demand (Ngo and O’cass 2013). For this reason, this organization needs to incorporate new strategy and recruit newly skilled staffs for market research and the existing staffs also try to improve their skill to generate the innovative idea. This leads the organization to achieve competitiveness in the market and high sales revenue. Therefore, use of modern technology brings changes in the existing system and the operation cost for the innovation of new products. From the above consequences it can be justified that innovation of a product is not a business it is the creativity and it triggers changes in an organizational culture and system that influences the existing process and growth of an organization.
Conclusion
The current piece of work reveals a brief overview regarding the product innovation in the context of George Weston Food Ltd. According to me, innovation is not only a business strategy but also a creative work that is done by the employees through improving their existing skills. On the other hand, innovation makes changes in the existing system and strategy of an organization by encouraging the staffs towards the product development. Hence, it can be said that innovation is a process of improvement of the business, product and the skill of the employees. Regarding me, innovation may leave the positive and negative effect on the organization. However, proper maintenance of the each stage of innovation leaves the positive effect on the organizational performance while poor market research during innovation affects the organizational growth.
References
Cui, A.S. and Wu, F., 2016. Utilizing customer knowledge in innovation: antecedents and impact of customer involvement on new product performance. Journal of the academy of marketing science, 44(4), pp.516-538.
Dangelico, R.M., Pujari, D. and Pontrandolfo, P., 2017. Green Product Innovation in Manufacturing Firms: A Sustainability?Oriented Dynamic Capability Perspective. Business Strategy and the Environment, 26(4), pp.490-506.
Hu, J. and Zhou, K., 2017. From User Scenario to Design Strategy: Practice Research on Product Innovation. In Advances in Human Factors and System Interactions (pp. 377-382). Springer International Publishing.
Jean, R.J., Sinkovics, R.R. and Hiebaum, T.P., 2014. The effects of supplier involvement and knowledge protection on product innovation in customer–supplier relationships: a study of global automotive suppliers in China. Journal of Product Innovation Management, 31(1), pp.98-113.
Mamun, A.A., 2017. Innovation Among Manufacturing Small and Medium Enterprises: A Cross-Industry Comparison. Advanced Science Letters, 23(4), pp.2658-2662.
Ngo, L.V. and O’cass, A., 2013. Innovation and business success: The mediating role of customer participation. Journal of Business Research, 66(8), pp.1134-1142.
Rodríguez, A., Nieto, M.J. and Santamaría, L., 2017, June. On the relationship between coopetition and innovation: Disentangling some influential factors. In Technology & Engineering Management Conference (TEMSCON), 2017 IEEE (pp. 47-48). IEEE.
Weston.ca. 2017. George Weston Food Limited. [online] Available at: https://www.weston.ca/en/Home.aspx [Accessed 4 Sep. 2017].
Wu, A. and Wang, C.C., 2017. Knowledge Search Pattern and Product Innovation of Firms in Low and High?Technology Industrial Clusters: A Knowledge Relatedness Perspective. Tijdschrift voor economische en sociale geografie, 108(4), pp.488-502.
Zaefarian, G., Forkmann, S., Mitr?ga, M. and Henneberg, S.C., 2017. A capability perspective on relationship ending and its impact on product innovation success and firm performance. Long Range Planning, 50(2), pp.184-199.
Zaefarian, G., Forkmann, S., Mitr?ga, M. and Henneberg, S.C., 2017. A capability perspective on relationship ending and its impact on product innovation success and firm performance. Long Range Planning, 50(2), pp.184-199.
Zhan, Y., Zhan, Y., Tan, K.H., Tan, K.H., Ji, G., Ji, G., Chung, L., Chung, L., Tseng, M. and Tseng, M., 2017. A big data framework for facilitating product innovation processes. Business Process Management Journal, 23(3), pp.518-536.
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