• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26
  27. 27
    27
  28. 28
    28
  29. 29
    29
  30. 30
    30
  31. 31
    31
  32. 32
    32
  33. 33
    33
  34. 34
    34
  35. 35
    35
  36. 36
    36
  37. 37
    37
  38. 38
    38
  39. 39
    39
  40. 40
    40
  41. 41
    41
  42. 42
    42
  43. 43
    43
  44. 44
    44
  45. 45
    45
  46. 46
    46
  47. 47
    47
  48. 48
    48
  49. 49
    49
  50. 50
    50
  51. 51
    51
  52. 52
    52
  53. 53
    53
  54. 54
    54
  55. 55
    55
  56. 56
    56
  57. 57
    57
  58. 58
    58
  59. 59
    59
  60. 60
    60
  61. 61
    61
  62. 62
    62
  63. 63
    63
  64. 64
    64
  65. 65
    65
  66. 66
    66
  67. 67
    67
  68. 68
    68
  69. 69
    69
  70. 70
    70
  71. 71
    71
  72. 72
    72
  73. 73
    73
  74. 74
    74
  75. 75
    75
  76. 76
    76
  77. 77
    77
  78. 78
    78
  79. 79
    79
  80. 80
    80
  81. 81
    81
  82. 82
    82
  83. 83
    83
  84. 84
    84
  85. 85
    85
  86. 86
    86
  87. 87
    87
  88. 88
    88
  89. 89
    89
  90. 90
    90
  91. 91
    91
  92. 92
    92
  93. 93
    93
  94. 94
    94
  95. 95
    95
  96. 96
    96
  97. 97
    97
  98. 98
    98
  99. 99
    99
  100. 100
    100
  101. 101
    101
  102. 102
    102
  103. 103
    103
  104. 104
    104
  105. 105
    105
  106. 106
    106
  107. 107
    107
  108. 108
    108
  109. 109
    109
  110. 110
    110
  111. 111
    111
  112. 112
    112
  113. 113
    113
  114. 114
    114
  115. 115
    115
  116. 116
    116
  117. 117
    117

Innovation For Business Success. It is possible to be innovative in both large and small companies in Australia, and to derive significant business success from that innovation.

Extracts from this document...

Introduction

Innovation For Business Success Acknowledgements My sincere gratitude goes to the many people whom I have spoken to and learned from over the past year, on the subject of innovation capability. This clearly includes the many people who are running hard with innovation in our case study set, who gave their time willingly to allow me to interview them and learn how they achieved and sustained their innovation capability. Thanks in particular are due to Michele Hamdorf of GRLmobile, Gus Balbontin of Lonely Planet, Heather Box from Toyota, Daniel Liepnik of Specialty Textiles, Andrew Logan of Newcrest, Tony Ward from Microsoft, Syd Schneider of Stetchtex, Christopher Janssen from GPC Electronics, Phil Butler of Textor, and Steve Plarre from Ferguson Plarre who were my primary contacts and interviewees in the case study companies included in this study. Thanks also to their many colleagues, too numerous to mention, who I was also privileged to talk to and learn from. Your personal innovation efforts and your organisations' achievements in systematic innovation capabilities are in my view nothing short of heroic. These efforts and their outcomes collectively demonstrate and indeed prove that firms in Australia can successfully do more than just be an ordinary source of raw materials for the world, and that even in that endeavour, that innovation can be a real differentiator! You have shown how systematic innovation capability can turn the ordinary into the extraordinary. Thanks also to my colleagues who have directly or indirectly influenced my thinking and this work: thanks to John Grant, Damien Power, Tobias Schoenherr, Prakash Singh, Peter Cebon, Chris Thomas, Suzy Goldsmith, Sarah Samson, Jack Wacker and Christina Scott Young. I wish to also gratefully acknowledge the terrific assistance and support I received from Evan Read and Meg Crooks of the Department of Innovation, Industry, Science and Research on developing and supporting this project. Finally, I hope that readers will find the findings of this study and the case studies of innovation achievements as inspirational as I found the people and the organisations that are driving them. ...read more.

Middle

Examples are take home pies, which became an opportunity during the global financial crisis as people worked longer and ate out less, and "Sex in the City" cupcakes. The company tries to keep ahead by closely observing social trends, such as needs for comfort foods, and by entering award competitions which will allow it a market edge. Two examples of products that it tried and quickly withdrew from the market, after slow sales, were its Beef and Beer flavoured pie, and its Aphrodisiac Cake. Although differentiation through new products is challenging, every few months it launches a new product idea. With some 120 staff comprising full and part timers, equivalent to some 90 full time equivalents, new product development is championed and catalysed by three key individuals. Everyone's best ideas are welcomed and are evaluated. Open innovation is practised and the senior managers travel the world looking for new product and service ideas. From a recent international study tour, Steve Plarre and others brought back and implemented a total of 10 new products. Ferguson Plarre leadership style is seen as important in driving forward on innovation and sustainable development activities and outcomes. The open innovation is fostered through a leadership style characterised as enthusiastic, lead-by-example, 'super-open-door' and family atmosphere. All employees bring ideas forward and successes are celebrated with enthusiasm. The leadership style is: "We shepherd people from behind, let people go with their ideas, through a participative style" (Steve Plarre). Mike Plarre and others have the requisite technical and process knowledge to develop new product cooking and formulation procedures. Ferguson Plarre operates a test kitchen and has a skilled baker who works on these new product ideas. The new product decisions are taken based on an expected ROI and minimum gross profit margins but without formal budgets. However the company has grown to a size where budgets are being developed generally for the first time. ...read more.

Conclusion

(Toyota Australia executive). 107 | P a g e The Toyota approach to innovation is that 80% of what is accomplished is small step improvement of all processes, along with a few 'big things'. The company is very systematic about decisions and systems. Consensus is key to those decisions being implemented effectively. Toyota works hard to leverage influence across the supply chain. Toyota also tries to be proactive in sustainable development. It takes on innovative initiatives in this regard too. It supports and works with Conservation Volunteers Australia. It works closely with the local council. It makes social contributions to local schools. All such partnerships are built on building capability not just a one-off contribution, as the aim is a lasting and positive impact. Toyota measures its contribution and achievements carefully in sustainable development. It publishes an annual sustainability report, and sets targets for improvement. These goals are considered very important, part of its highest level of goals. An example of a recent goal was a 40% reduction in water use throughout the company. Toyota faces many challenges in trying to be competitive and innovative in Australia. It is concerned that manufacturing is reducing in quantity. Mitsubishi has stopped manufacturing and all other producers have reduced their local Australian manufacturing scale and model breadth. Conversely Toyota has expanded its Australian operations and invested in expansion. To make Australia attractive for investment, Toyota must be able to provide a competitive workforce o, in terms of education and skill levels. There must also be a viable supplier base, which means that suppliers must be able to export from Australia. Suppliers must also be innovative as this is seen as a high cost country. Toyota wants its suppliers to: "Take charge of their innovation destiny" (Toyota executive) It is a great time to be innovative as Toyota knows how to make continuous improvement work well, there is marvellous new technology coming available regularly and Toyota is always willing to help and support suppliers. 108 | P a g e 109 | P a g e 9. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Management Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Management Studies essays

  1. Strategic Analysis of Zara Fashion Retailer.

    want to remain competitive in the future -online retailers have the ability to shape traditional retailers' competitiveness; while due to improvements in e-shopping methods, people tend to acquire products online with more frequency-. * In regards to marketing issues, Zara may consider to adopt similar strategies to the ones employed

  2. Analysis of Zara's market position. ZARA is the main success factor of Inditex's growth ...

    The figure below shows ZARA�s product developing process compare to traditional retailers. In-house production Furthermore, Zara�s in-house production causes a quick product turnover and thereby increases a rapid frequency of customer�s shopping behaviour. Rather than utilize its factory�s capacities to maximize their output, the company leaves some capacity left on purpose.

  1. Aldi. A critical evaluation and audit of its Structure, strategy, culture and management/leadership

    Structure of Aldi Figure :Aldi's organisation Structure(Source: http://www.aldiuscareers.com/divisionalstructure.aspx) Aldi follows a divisional structure based on geography, without being too departmentalized. The divisional managers are completely responsible for handling the services/products provided by the store and running the store as if it were his/her own business.

  2. MIS implementation in IBM

    Clients found themselves often with tens or hundreds of vendor relationships with IBM with no one having a clear view of the entire relationship, leading IBM to lose leverage and credibility. Instead of being seen as a strategic vendor supplying hundreds of millions of dollars in solutions, IBM appeared to be a thousand small vendors, sometimes competing against each other.

  1. Strategic Business Plan of Nokia. This strategic report examines thoroughly Nokias current position ...

    in other electronics industries, causing an adverse effect on the barriers v MEDIUM vHigh capital, R&D requirement vHigh economies of scale vIncreasing environmental and public health regulations vHigh brand loyalty �Economies of scope- achievable from related industries �Public availability of components, such as complete mobile chipsets and content, such as

  2. Balfour Beatty. The purpose of this report is to identify and select a UK ...

    Having been established for 100 years and currently as the biggest construction company in the UK, they have proven to be a mature and successful business. However in order to maintain this, Balfour need other sectors to become Stars, which will eventually become Cash Cows, sectors such as their Investment sector.

  1. Critical Evaluation of the International Strategy of IKEA and its Re-Entry Into ...

    hence MNCs will pursue standardisation strategies in order to fill mass global markets with standardised products (Tayeb, 2000). However Douglas & Wind (1987) suggest that there is very little evidence of this so-called "homogenisation", and Rugman & Hodgetts (2003) describe how there is still a need to appreciate and respond to changes in consumer tastes and regulations across countries.

  2. Management principles and theories and their application to the construction industry.

    The project leaders are also supported to ensure that their teams have the appropriate skills sets to meet the minimum requirements, allowing them to allocate responsibilities to team members clearly. Adherence to enabling process is mandatory and it is only permissible to omit elements in clearly defined circumstances, and by specific dispensation from an accountable director.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work