External Environment: The Four Drives Of Innovation

What are the drives of innovation?

In the examination above, it was mention that if an organisation doesn’t innovate, they won’t grow. But it can also be said that if organisation doesn’t innovate it would be hard for them to survive in the market environment. As O’Sullivan and Dooley (2009) examine the dives of innovation, they mention that those dives would also help the organisation to create a sense of urgency of creating new organisational goal and generates new ideas. Furthermore, they identify four drive of innovation which is as follows:

• Emerging technologies – they see new technology as having the potential of significant innovation in the organisation and it can basis from innovative products, processes and services that can

These changes will drives organisation to innovate their products and services in order to survive and to have a competitive advantage in the market place.

Furthermore, Maxwell et al (2008; as state in the Canadian Dairy Commission, 2010) divide the factors that drive innovation into two categories; external drivers such as, competition, lower costs, new entrants and internal drivers such as, improve profitability, returns of investment, quality and cash flow.

Here it shows that there are a numbers of factors that are making companies involves in innovation in the business environment. In today’s business world many firms try to increase their profit by devoting resources to creating new products and developing new ways of making existing product. From this it is clear that businesses are being innovative but the question still remind the same whether these are the factors that are apply to innovation or whether it should be more than just those factors.

Innovation in the tourism sector in relation to Virgin Atlantic

Furthermore, they have opened a brand new Virgin Clubhouse at Heathrow Airport in 2006, this is by identifying the needs of their customers they were able to innovate and create such space from their passengers to enjoy. In addition to that, in 2007 they open a new check-in facility at the Heathrow Terminal 3. All these can be seen as innovation as they were able to adapt to the need of their customer and come up with new ideas and facilities for their passengers. Virgin Atlantic is also the first airline to offer its customer to usage of WIFI on board of their flight. This is something that most airlines wouldn’t do but Virgin Atlantic has once again identified the needs for its customers and they were able to adapt with such