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QUESTION
Discussion Summary for Innovation Essentials
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Answer
Innovation Essentials
This question is extracted from the heading on technology driven innovation by McKeen and Smith (2015). The topic was an essential addition to the course given that modern firms thrive by introducing disruptive innovations. For instance, innovations done using IT have led to emergence of disruptive business models such as Uber, Amazon, iTunes, block chain, and AirBnb among others (Ibarra, Ganzarain & Igartua, 2018). In particular, the IT systems such as ERP and IT supported self-service create more efficient processes that save costs. Because of these factors, there is a constant need for firms to reinvent their products and services and occasionally, itself. This can be enabled through creating an IT-enabled innovation.
After understanding the need for innovation, McKeen and Smith (2015) delves further into describing the necessary requirements for innovation. The author describes innovation essentials as the important elements required for innovation. They include; motivation, direction, and support. The first essential is motivation. Firms have to introduce programs and systems to encourage innovations among employees. The second essential dictates that firms have to create infrastructure that sustains innovation. This includes creating a dedicated team or department to oversee innovations. The third essential is directing the employees. The management has to ensure strategic management of innovations so that it is linked to customer value and core processes of the business (McKeen & Smith, 2015). While identifying these essentials, it is important to assume that the organization has to first identify a need for the innovation. For this reason, it is assumed that there are four elements of innovation essential, namely, the need, motivation, support, and directions.
References
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Ibarra, D., Ganzarain, J., & Igartua, J. I. (2018). Business model innovation through Industry 4.0: A review. Procedia Manufacturing, 22, 4-10.
McKeen, J. D., & Smith, H. A. (2015). IT strategy: issues and practices. Pearson Higher Ed.
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