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Essay / Research Paper Abstract
This 12 page paper presents a literature review examining the way in which change and innovation may be implemented and managed in a commercial environment. The process of innovation and strategies or conditions under which innovation is most likely to thrive are discussed, and the way that these changes may be implemented are discussed utilizing models of change. The paper then describes to changes resulting from innovation, one example demonstrating success, one example demonstrating a failure. The bibliography cites 15 sources.
Page Count:
12 pages (~225 words per page)
File: TS65_TEmaninnovat.doc
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Unformatted sample text from the term paper:
are many ways a firm may change, with two main approaches; innovation or emulation. In the first of these approaches firms will look for new ideas, these may be new
products or services or improvements on existing products, both of which may be revolutionary and evolutionary forms of innovation. There may also be innovation in terms of the processes, such
as production or supply chain management. The key aspect of the innovations is that they will create value for the firm. Innovations is a potential source of competitive advantages, as
those who innovate may gain the first mover advantage, a form of differentiation (Mintzberg et al, 2008). Those firms who do not innovate will still need to change, so
they are not left behind, often adopting a follower strategy. Innovations can be difficult, it is not only a matter of determining that a change is needed, it is
creating new ideas and channelling creativity to transform ideas into viable reality. For managers seeking to implement change with innovation the task can be complex and it is necessary for
those managers to understand the issues associated with not only innovation, but also change and leadership in change. The aim of this paper is to examine some of the relevant
theories concerning these issues, consider the way they may apply in real life situations and end by assessing personal development requirements needed to facilitate the ability to manage innovative change.
2. Literature Review Parnes (1992) argues that to be successful firms need to be creative. Creativity is inextricably correlated to business innovations, with the terms often used interchangeably, to
mean the same thing (Ford, 1996). Despite the interchangeable nature of the two terms, creativity and innovation are not necessarily the same thing, creativity is the first stage of innovation
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