B207A chapter 1 Flashcards
What is Innovation? ماهو الابتكار
‘Innovation’ is a ‘new idea, device , or method’ and ‘the act or process of introducing new ideas, devices, or methods’.
1.innovation is about creating values from ideas.
2. Innovation could be in a product, a new market or a new strategy.
3.Innovation is not confined to just businesses either; it can include a range of stakeholders including
governments, unions, universities and non-governmental organizations (NGOs).
4. it’s a journey not a light bulb moment.
Why innovation is important? لماذا الابتكار مهم؟
Innovation is important for companies as they need it to survive and thrive because it helps in severe competition ,product life cycle , demanding customers .
This raises several such as:
1. • How can organizations effectively foster innovation?
2. • Is there a ‘one size fits all’ solution to the problem of innovation?
3. • Do all parts of an organization innovate in the same way?
How to create an innovative organization ? كيف تصنع منظمة مبتكرة؟
innovation is a product of the organizational and social environment.
to create innovation it depends on:
1. Community of people .
2. Fostered by strong institutional support systems.
3. Internal and external culture.
4. Encouraged as an organizational value.
5. Systems that enhance efficiency and quality.
6. Promoting ‘big ideas’.
A key challenge to innovation is that it can be risky and new ideas can lead to failures.
What is the role of business functions in supporting innovation? ما هو دور وظائف الأعمال في دعم الابتكار؟
Business organizations are made up of several departments or ‘functions.
There are four main business functions:
1•Operations management: can look for ways for innovation to meet the targeted customers needs and wants.
2 • Marketing: by defining the needs and opportunities of customers in markets so innovation can target that.
3 • Accounting and finance: can look for innovative ways to reduce the costs so company can survive.
4 •Human resource management: is responsible for selecting the right people that can help in organizations innovation.
Adopting A Holistic Innovation Perspective اعتماد منظور الابتكار الشامل
Positives of adopting a holistic approach:
- Business functions can allow organizations to innovate in several ways.
- Each function can offer a distinctive solution to organizational problems.
- Business functions can help to provide decision-makers with fresh insights for tackling issues and challenging assumptions.
Negatives of adopting a holistic approach:
1.There is the danger that one functional perspective will dominate and therefore marginalize the others. For example, if a company is market-driven then it may view all potential issues as marketing problems that require marketing-based solutions.
what are the major tasks of innovation is an organization? ما هي المهام الرئيسية للابتكار هي المنظمة؟
There are four major innovation tasks which corresponding perfectly to the logic of the innovation process: These tasks are:
- Idea generation and activation .
- Coalition building and acquisition .
- Idea realization and innovation production.
- Transfer or diffusion.
What are the Opportunities and challenges for fostering twenty-first-century innovation ? ما هي الفرص والتحديات لتعزيز الابتكار في القرن الحادي والعشرين؟
It is important to create and foster organizational innovation in the twenty-first-century.
creating an organizational culture of innovation requires:
1. the investment of time and resources.
2. being aware of the opportunities and challenges .
3. does not occur within an organizational vacuum, Different external economic.
what is Globalization? ما هي العولمة؟
Globalization is one of the factors having the greatest impact on contemporary innovation .
Positively: globalization has served to ‘shrink the world’ by making communications quicker and travelling easier through technological advances, alongside prevailing values of international ‘free trade’.
Consequently: organizations have greater access to innovation happening around the world. They also can take advantage of a fast-paced global business environment to seek and push through their own cutting-edge solutions.
