Innovation And Competitiveness
Innovation & Competitiveness
As markets are constantly changing, innovation and the willingness to produce new things are becoming one of the main approaches that companies could gain competitive advantage. These changes are driven by consumers who claim more and more, by competitions who continuously come up with new ideas for satisfying needs and by technology which is growing day by day. If firms do not keep up with their markets’ changes and satisfy needs they are basically out of the competition.
When talking about innovation and competitiveness I think is essential to mention the ‘blue ocean’ strategy. A clear example that shows innovation is totally related with competitiveness is the case of Ford and the Model T. In 1908, Ford came
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Let me introduce another famous example, Nokia. This company had an incredible history of innovation – was the initiator in wireless infrastructures, perhaps the first company to transform mobile phones into fashion electronic equipment and created the first smartphone at the end of the 20th century. However, the problem Nokia had was that they never really successfully transitioned into the new age. Even though Nokia created a blue ocean, their success did not last and ended up with huge losses and finally they had no more option than selling its handset division to Microsoft. So we can see clearly that innovation doesn’t give competiveness, but a constant innovation …show more content…
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