Business Studies

Discussion must be in current APA format and must include a reference list. Reference sample make sure to include DOI-Drollinger, T., Comer, L. B., & Warrington, P. T. (2006). Development and validation of the active empathetic listening scale. Psychology & Marketing, 23(2), 161-180. https://doi.org/10.1002/mar.20105 There needs to be 2 scholarly references (2017-2022) and 1 biblical references from the King James bible in the paper Minimum of 275 words Current APA format must be used.
• Compare/contrast the findings of others with your research.
• Compare how the findings of others relate/add to the concepts learned in the required readings.
• Share additional knowledge regarding the key topic that relates to the thread.
Discussion to Reply to:
Discussion Thread: Process Design

Innovation

Key Concept Explanation

Innovation is often defined as the implementation of a new or substantially improved product or a process (Lv et al., 2018). Innovation adds value for an organization’s customers and is essential in developing and sustaining competitive advantage (Lv et al., 2018). There are many types of innovation such as product, organizational, technology, and marketing innovation. Interest in the key topic of innovation stems from the recognition of the importance of innovation in business. Innovation is a key component of business process and is crucial in the success of businesses; therefore, a desire to research and learn more about innovation was cultivated.

Comparison

Meredith and Shafer (2020) note that innovation is continuously being able to create new products and services and is a key factor in competitive success; this viewpoint aligns with all of the resources cited. Lv et al. (2018) and Critical success through innovation (2019) confer the importance of innovation when it comes to small and medium-sized companies; it can be the leading factor in whether the small and medium-sized companies survive and are successful. Kremer et al. (2019) also note that innovation is one of the most important factors in competitive advantage; the authors stress the importance of encouraging employee behaviors that foster innovation and creativity. Meredith and Shafer (2020) point out that research and development is a key part of innovation; Haneda and Ito (2018) confer similar importance of research and development and note that innovation is most successful when there is a team of diverse individuals that have research and development experience. Kahn (2018) discusses innovation from a different perspective and dives in much deeper than Meredith and Shafer (2020). Kahn (2018) explains the different perspectives that organizations should have when it comes to innovation; the author also stresses the importance of fully understanding innovation in order to attain all the benefits. As these sources present, there are multiple ways to look at innovation; Meredith and Shafer (2020) focus on innovation being the first step in the life cycle of products and services and how innovativeness can help companies be competitive. Meredith and Shafer (2020) appear to have a narrow focus on innovation and do not fully expand on the importance it has within an organization.

Article Summary

Kahn (2018) expresses the idea that although innovation is a widely used term, many organizations do not fully understand the meaning behind it or are able to execute it successfully. Kahn (2018) details three interesting concepts of innovation: innovation as an outcome, innovation as a process, and innovation as a mindset. Innovation as an outcome focuses on the ending the organization strives to achieve (Kahn, 2018). Innovation as an outcome focuses on the strategic question of “What do you want to happen?” (Kahn, 2018). Examples of innovation as an outcome are product, marketing, business model, supply chain, and organizational innovations (Kahn, 2018). The focus of innovation as an outcome is typically introduction of new products and services. Innovation as a process focuses on the methods and process through which innovation can occur (Kahn, 2018); it focuses on the strategic question of “How will you make it happen?” (Kahn, 2018). Examples of innovation as a process is product development process and innovation process (Kahn, 2018). Innovation as a process approach learns from previous processes to enhance, discover, develop, and deliver phases of future initiatives (Kahn, 2018). Innovation as a mindset focuses on innovation as a state or a way of thinking, addressing the incorporation and cultivation of innovation throughout the organization (Kahn, 2018).

Kahn (2018) makes a great closing point that although innovation can present opportunities for organizations, execution is critical for success. Kahn (2018) emphasizes that all of these innovation elements work together in order to increase the possibility of success. Organizations must understand that innovation is an outcome, a process, and a mindset; fully understanding this makes success more attainable for the organization because when you understand it you can reap the full benefits of it (Kahn, 2018).

Biblical Integration

“In the beginning, God created the heavens and the earth” (English Standard Bible, 2001/2016, Genesis 1:1). God calls us to be creative and create, just as he did in Genesis and throughout the bible. Exodus 35:31-32 states “And he has filled him with the Spirit of God, with skill, with intelligence, with knowledge, and with all craftsmanship, to devise artistic designs, to work in gold and silver and bronze” (English Standard Bible, 2001/2016). God made us in His image, to create; innovation is creating and developing new products or processes in order to expand and improve companies. When people and companies engage in innovation, they are fulfilling the callings that God has for his people.

From a personal perspective, God calls us to innovate ourselves. “Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect (English Standard Bible, 2001/2016, Roman 12:2). He calls us to innovate our minds, creating new thoughts that align with His word and not conforming to the perverse thoughts and ways of this world.

Application

Innovation is a crucial component of businesses (Lv et al., 2018). Businesses today use innovation to develop a competitive advantage (Kahn, 2018; Meredith and Shafer, 2020). Innovation has been applied in businesses in many different ways such as marketing, technology, operations, and product innovation (Kahn, 2018). Some companies that display remarkable innovation are Apple and Amazon. Apple not only has innovative technology, but they also exhibit innovation leaders who help develop and promote innovation within the company (Kramer, 2018). Apple believes in hiring smart people and then fostering a company culture that helps empower them. Another company that excels at innovation is Amazon. Amazon has become a leader in global research and development by demonstrating leading research and development investment and experiencing leaps in market value (Watanabe et al., 2022). Amazon not only excels at process innovation, but they also excel at product innovation. Amazon has been advancing Amazon Web Services (AWS) as an innovative, advanced complex cloud infrastructure (Watanabe et al., 2022).

ANSWER

Discussion Reply 2

Innovation is a common tem in the world today and in business. People keep saying they are innovating themselves and business say their mission is to be innovative. However, most do not understand the full meaning of innovation and the advantages of being innovative in business. Innovation is when an organization introduces new services or products which have appositive impact on their business. Innovation can include many different things including improving the quality of services, changing the way a business caries out it activities and making it better. Innovation is key to a successful business and businesses that are not innovative end up closing down or losing their customers (Gobble, 2018). According to the bible in Isaiah 55:11 God uses his word and when he sends His word it does not return empty, rather it accomplishes what it was meant to accomplish. The bible is a good example of how businesses should keep changing to ensure they achieve their true purpose. If they remain rigid and not comfort to the changing times and improve themselves, they are likely to fail.

I agree that executing innovation successfully can be challenging. One of the reasons it is challenging is because innovation needs people to keep adapting to change and change is not readily accepted. There is also the need for strategic planning and understanding the end goal. For example, a company should know the reason they are changing some services. Is it to attract more customers, is it to improve the customer’s experience or they are competing with rivals (Rahimi et al., 2017). It is important to understand what one wants to happen especially when creating innovative ideas. It is also important to consult with other people in the company to ensure they are ready for the innovative process.

References

Gobble, M. M. (2018). The importance of management innovation. Research-Technology Management, 61(6), 54-58. https://doi.org/10.1080/08956308.2018.1516932

King James Bible

Rahimi, E., Rostami, N. A., Shad, F. S., & Vafaei, V. (2017). The importance of knowledge management on innovation. Applied mathematics in engineering, management and technology, 5(1), 68-73.