Innovations: A Large-Scale Process with Outcomes

In the modern world, technologies are actively developing and helping to make people’s lives more accessible. Therefore, more and more innovations are being introduced that increase the efficiency of processes and improve the quality of products. Innovations are actively used every day: people equip their homes with innovative technologies to make life easier and more comfortable. At work, innovations help achieve goals faster and in training to make the learning process more efficient. Since innovations are used almost everywhere, there is a wrong understanding of what innovation is in general. Although innovations are considered novelties exclusively, they are still a large-scale process that brings outcomes.

Lack of understanding led to many companies perceiving innovation as something completely new, unattainable, and large-scale. The introduction of small innovations is not the company’s development and does not give the desired effect. This view is not correct, as there is a high risk of introducing radical new innovative changes; moreover, many resources will be required. If to start by introducing small innovations, this will eventually lead to tremendous success and the introduction of more considerable innovations (Kahn 454).

Modern developing companies actively introduce innovations in their work to increase efficiency, increase performance and solve the problems and tasks of the company. Innovations are primarily aimed at solving complex problems and functions of the company, and the number of innovations increases if the number of problems increases (Satell 3). To surprise the consumer and offer them what they need, companies focus on an individual approach, which requires collecting many data. Mazzei and Noble (406) argue that big data creates many difficulties for company managers, ranging from the staff who will collect, evaluate and analyze data to questions directly about the data itself. Undoubtedly, there are problems with the collection and processing of a large amount of data. Still, in the end, these actions will lead to an increase in production, to greater consumption of goods and services by people, as well as to the development of logistics.

Collecting a large amount of data will naturally lead to positive changes and an increase in the company’s rating. Still, perhaps the main feature of the data is not its volume but its quality. Wessel (3) claims that the availability of correct data is a factor more important than the quantity of data. Many companies need to collect a lot of information to bring decent results for this innovation process. Some companies do not need this, and greater efficiency will be achieved by collecting only the necessary information, which will help simplify the collection algorithms, reduce the amount of data collected and increase productivity. Based on this, it can be understood that innovation is an important process in the work of every person.

Innovation is both a process and an outcome, so a process means actions aimed at introducing innovations, which means getting a new product or service. Innovations as an outcome include different groups that introduce innovations and get a completely new product as a final result. These groups include marketing innovations, product innovations, process innovations, organizational innovations, and many others (Kahn 454).

Innovation as a mentality aims to encourage new ways of thinking and the development of relationships between colleagues to develop and adjust innovations in a team mode. Kahn (458) cites five skills to stimulate innovation and new ways of thinking: association, common sense question, observation, experiment, networking. These skills allow thinking more broadly, in a diverse and new way.

Innovation has enabled small and new organizations to compete with large and advanced companies through cloud computing technology. This technology focuses on remote access to a collaborative group of computing resources. Bloom and Pierri (3) state that the computing power of cloud computing contributes even to the creation of new innovative products. Using this innovation makes it possible to reduce the cost of equipment, personnel, and servers. With the help of cloud technology, CEOs and CEOs can quickly and, in some cases, cost-effectively use the opportunities that open up (McAfee 5). In this case, innovation helps people simplify many business processes and achieve maximum efficiency.

Innovations are an integral part of any modern business or work, as they help everything happen much faster and more clearly. Davenport et al. (3) claim that thanks to innovative technologies, the work has become more optimized, which helps save time, reduce resources, improve quality and get better results. Indeed, the work of many companies using technology has become much better and more comfortable for both employees and customers. Besides, technology helps simplify people’s daily lives by detecting money fraud, searching for problems with car safety and quality, targeted advertisements based on the tastes and preferences of a person (Davenport & Ronanki 4). Moreover, innovative technologies have given people the opportunity to communicate while being very far from each other, to have fun and learn.

In conclusion, innovation is a large-scale process of updating technologies that make people’s lives more comfortable, work and business processes are transformed and become more efficient. In addition, innovation has become a culture and a way of thinking of people, as it has changed the lives of many and made them better. Although the introduction of innovations in your life requires some effort and resources, it is still worth it.

Works Cited

Bloom, Nicholas, and Pierri Nicola. Research: Cloud Computing Is Helping Smaller, Newer Firms Complete. Harvard Business Review, 2018, pp. 1-9.

Davenport, Thomas H., and Ronanki, Rajeev. Artificial Intelligence for the Real World. Harvard Business Review, 2018, pp. 1-10.

Davenport, Thomas H. et al. Toward More Analytical Decisions and Better Results. Harvard Business Press, 2010, pp. 1-10.

Kahn, K.B. Understanding innovation. Kelley School of Business, 61, 2018, pp. 453-460.

Mazzei, M.J., and Noble, D. Big Data Dreams: A Framework for Corporate Strategy. Kelley School of Business, 60, 2017, pp. 405-414.

McAfee, Andrew. What Every CEO Needs to Know About The Cloud. Harvard Business Review, 2011, pp. 1-10.

Satell, Greg. The 4 Types of Innovation and the Problems They Solve. Harvard Business Review, 2017, pp. 1-6.

Wessel, Maxwell. You Don’t Need Big Data – You Need the Right Data. Harvard Business Review, 2016, pp. 1-5.

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