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Essay / Research Paper Abstract
This 6 page paper considered whether innovation is needed for business success and whether innovation alone is enough. The paper looks at the way innovation has benefited companies and industries and assesses how it is leveraged to bring success. The bibliography cites 4 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEneedinn.rtf
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Unformatted sample text from the term paper:
where competing or complimentary firm developments have a knock in effect on other firms, The paper looks at firms such as Microsoft, Starbucks and Google to assess the assumption, and
outs forward the argument that innovation alone is not sufficient, for value to be created and success to be realised firms need to be able to leverage the commercial potential
of innovations. Russia is used to illustrate this point, where there has been a high level of research and development, but a lacking application of commercial assessment and leverage techniques,
a strong difference from Japan where there was a higher level of commercial application. Text It may be argued that business success
depends on innovation, a cursory look at many companies tend to indicate that there is a perception of success with innovation, Howard Schultz innovated the coffee shop design for the
US market and has seen major success, Bill Gates and Microsoft innovated and revolutionised the personal computer market with specific reference to PC operating systems. However, it is notable
that they not only provided a route for success for the companies, in both cases they have help to create new markets or revitalise older marketing, renewing lifecycles.
It is interesting to note that in both cases there is the association of a first mover advantage, and while many firms will
be able to benefit from first mover, in each case these three dominant firms in their respective markets were not the first movers, as such it is innovation that is
leading to success and firms ability to leverage innovations. It is not necessarily the innovator themselves that are benefiting. Schultz took an old idea and revamped it bringing it to
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