DOI: 10.5176/2251-2039_IE17.40
Authors: Felix Meyerhoff, Prof. Dr. Richard C. Geibel
Abstract: In a fast-paced world, innovation is essential, especially in today´s business world "a planned, researched approach to evaluating, developing and marketing innovative products is not only possible, it is critical to success" [1]. As environments of companies change in rapid pace, entities need to build capabilities in order to respond to those changes. The underlying issue here is that "markets that do not exist cannot be analyzed" [1]. Whilst many firms suffer from the phenomenon of complacency, Kotter [8] states, "some of the most successful organizations on earth are far too arrogant. They’ve been too successful for too long and they think they know everything, and that’s toxic. That’s a super-killer." Nonetheless, firms that actively monitor their environment and attempt change also face challenges and difficulties in the process.
Keywords: innovation, digitalization, corporates and companies
Updating...