¶ … Stability means life. People, businesses, and organizations usually attribute change to a type of death where the old way is gone and the new way takes over. Although some may view change as good, change is inevitable. Change is unplanned or planned and is often a response to forces and pressure. Many types of change exist within organizations from transitional to developmental and even transformational change. In order to implement change within an organization, those willing to undertake such tasks must be visionary, implementing sound strategies. Such strategies enable growth and change even when employees may struggle to accept change or resist it.
Often one sees forces for change from several key areas such as customer focus, technology, and/or globalization. If there is a demand for change or a recent trend, this may supply the seeds to alter things within an organization. A good example of this is the Lego Group. The Lego Group had to undergo changes because of the decreasing demand for traditional toys. Electronic games demand grew while traditional toy sales dwindled. In fact, the retail sector began consolidating into major stores leading to outsourcing to Asia. This then created downward pressure on pricing. Adding to this, Lego's patents started expiring.
The toy company then took action and through several sophisticated steps, altered its innovation system leading to more effective turnout. Some key differences were selling off company assets, reducing headcount, and outsourcing production. These steps reduced cost for Lego as well as limited the amount of people and resources in the company. Sometimes downsizing enables growth or sustainability within an organization. Some may say these steps were innovative.
CEO's often view innovation as a means of leading into corporate success. However, what is business innovation? Business innovation refers to the formation of substantial new worth for consumers and the business by creatively altering one or more scopes of a business system. To consider business innovation, one must imagine new value, not new things. Furthermore, innovation comes in many forms and is systemic.
There are twelve dimensions of business innovation. The first is platforms or areas to promote and implement change. The second is offerings. The third is solutions as organizations often promote innovation because of a problem needing...
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