Overview of the theme
Innovation is the process through which change in the present commodities are made which has capacity to produce and deliver better services. some modifications and changes are done to them through which it becomes more effective. As the business environment is continuously changing and becoming more competitive it becomes necessary for the enterprises to innovate. Innovation management are the ways through which application of change in company is done.
It is because without proper planning for same can lead to great loss to the business also. For same under the concept of innovation management different tools are used which includes formulating the strategies, analysing the capabilities forming the structure accordingly and developing the culture of adopting change in the firm. With the help of all these management of the organisation is capable of exploiting the different opportunities that are present inside and outside the boundaries of the business.
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Google is the chosen organisation for the following report. It is a well-known web browsing platform which is used globally by unlimited users. It was initially started as a research project and since then it became a significant example in innovation industry. In very few years of its initial launch many companies joined hands with it such as Yahoo, Excites etc. Its research and development team continuously focused on improving the search engine which shows the culture of adopting change in the firm.
The following report will be discussing the different benefits and limitations of the open innovation for google. For same it will be explored that how the chosen organisation is benefited by the concept of innovation along with the various examples that shows the limitations of the change in context of the same firm. Different examples will be given in the discussion which will discuss how while applying the alterations in the working of the firm different limitations were faced by the company. Therefore, the objective of the following report are as follows:
- To understand the concept of open and close innovation
- To determine the benefits of open innovation
- To investigate the limitations of open innovation
- To discuss innovation in context of Google
Concept of open and close innovation
Open innovation is the concept of applying and using the purposive inflows and outflows of data to speed up change within the business boundaries. Through same the outside possible opportunities to innovate increases. If from the initial stages organisation follows the concept of innovation, it becomes free to explore and there are no boundaries of the business then as it can adopt anything at any time. It is distinct from that of close innovation concept as in that case the enterprises do not look for change options from outside eth organisations boundaries. In this case the most important source of innovation is only the inside resources of the firm like the investors, employees, stakeholders etc. Their views and suggestions are considered while making the inventions in the current working and experiencing the growth. Contradict from that is the case of external innovation in which there is more scope of making change in the existing systems like taking assistance from the outside applications and also delivering the new ideas to other organisations. If both the innovations are compared, then it can be found that open method of innovating is more appropriate as this way the total scope of change further increases and hence company can found out what is the best cost effecting option for the firm through which change can be facilitated.
Advantage of open innovation
From the above discussion the concept of exposed innovation is clear. It is fond that how it is used in the firm. It has various benefits from the company and the most common among them is that it directly helps the firm in controlling the overall cost of business as the solutions are well evaluated on various platforms. This way the company can found out that through using what option company can get eth better results which is also competitive in the market.
Thereafter, the other benefit of this change is that expertise can be achieved through this way as when different units are adopting the same approach then it can be found that what is the best way of using the idea so that better results are achieved. Also when the idea is driven from outside, the total work pressure of the research and development team reduces as they do not have to do the whole practice of how to innovate and can simply examine how the possible option found can be implemented in own working. This way also the chances of achieving the success from the tested model further raises.
What are the limitations of open innovation?
Although the concept of innovation has range of favourable points but they do not come all safe as there are lots of disadvantages which are associated with same. In order to innovate through involving the outside parties increases the risk of sharing of such information of the company which is not intended to be shared. It may affect the quality standards of the firm as when the company is open to market for sharing the ideas it loses its self-capacity and delivering new to the users and also the competitive advantage gets affected as a result of external involvement with the intellectual properties of the business.
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Along with this the other negative aspect that is associated with this concept of bring change I the firm is of the additional total cost to the company. When any application or new idea which is taken from the market is applied in the business it demands more addition to the total resources and leads to the cost of its application. It is due to the fact that employees need to be trained regarding same which is a time as well as a cost consuming process. Other way in which the expenses for the firm increases is because at the initial step when change is brought to the company the chances of error further increases. Sometimes these mistakes are severe and can affect much to the company. Using the idea which is completely new to business also demands much of the knowledge base of ideas which if do not match to the requirements than can result into non achievement of the
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