Tuesday, June 18, 2019

Innovation and change - open innovation and strategy Essay

Innovation and change - open innovation and dodging - Essay ExampleSourcing for innovative ideas at FedEx...7Lead user Innovation...8 outspoken Innovation..9Disruptive Innovation.10Innovation strategy at FedEx..10A new innovation strategy for FedEx.....12Challenges and Solutions....14Monitoring the success of roadmapping..16Theoretical persuasion17Conclusion....17References.19Executive SummaryThe paper seeks to address the concept of innovation as a major defining aspect towards the success of FedEx. It goes on to elucidate the strategies that the organization has ever put into place to ensure that its innovation processes meet the demands in the market. Recognizing the need for change and strategic repositioning, various options for innovations atomic number 18 suggested as ways through which FedEx can better its position in the logistics industry across the world. This boils down to the elucidation of alternative innovation strategies that can provide solutions to the quarrel s confront organizations in the present business environment. As such, the paper is very illuminative in giving a thorough account of all the imperative aspects of innovation in the context of organizational setting.IntroductionThe imperatives of innovation in modern-day organizations cannot be overemphasized. Innovation is certainly the engine that drives progress and provides the platform through which organizations can effectively compete against each other in the race against resources and the competitive market environment realized in entirely all sectors. In this regard, most organizations are becoming much more involved and focused in their areas of innovation in order to enable them to sail through these challenging times. The major challenge realized from the outset is basically the difficulty in choosing the best innovation strategy to follow in an organization. It is imperative to realize that choosing a wrong strategy might doom the organizations chances of progress h ence the need to keenly address the aspects of innovation with utmost concern and sufficient resource allocation. In any case, there is not a single innovation strategy that can effectively address all the developmental needs of any organization. It tho remains a matter of choosing amongst many options to get the best alternative. Indeed, in the service provision industry like logistics, the major strategic step is always the need to cultivate a sense of innovation in the organization through the engagement of talented people who can effectively address the organizational goals of innovation. In this regard, it has been realized that FedEx is always at the forefront in hiring very talented people who are then trained on the best ways to innovate in the organization. The culture of innovation is therefore seen to be part and parcel of FedEx and this can clearly explain why the organization has become a major brand in the logistics industry and has managed to sail through th

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