Analysis of Industry Planning And Innovation
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At a generic level, innovation is a core business process concerned with renewing what the organization offers the world and the ways in which it creates and delivers that offering. And to do this they all need to carry out these activities:
- Searching - scanning the environment (internal and external) for, and processing relevant signals about, threats and opportunities for change.
- Selecting - deciding on the basis of a strategic view of how the enterprise can best develop. Which of these signals to respond to.
- Implementing - translating the potential in the trigger idea into something new and launching it in an internal or external market. Making this happen is not a single event but requires attention to:
Acquiring the knowledge resources to enable the innovation (for example, by creating something new through R&D, market research, etc., acquiring knowledge from elsewhere via technology transfer, strategic alliance, etc.).
Executing the project under conditions of uncertainty which require extensive problem-solving.
Launching the innovation and managing the process of initial adoption
Sustaining adoption and use in the long-term - or revisiting the original idea and modifying its innovation.
Learning - enterprises have (but may not always take) the opportunity to learn from progressing through this cycle so that they can build their knowledge base and can improve the ways in which the process is managed.
But they differ widely in the ways in which this is done and the importance of different elements.
In this exercise pick a sector - e.g. food retailing, airlines, chemicals, public administration - and draw a map of their particular version of this process. How does it work out in practice? Where are they likely to need or to place most emphasis?
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Solution Summary
An analysis of industry planning and innovations are examined. The relevant signals about threats and opportunities for change are provided.
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Innovation process in the Healthcare Sector:
Innovation process is a generic core factor that drives the healthcare sector. It is quintessential for the industries in this sector as it is innovations that have seen breakthroughs in nanotechnology and genetics and the increased understanding of the biological processes that have impacted radically the quality of health care and human life. Innovation renews what a sector, industry or organization can offer to the world that ways in which the offering is created and delivered. The innovation process involves various activities which are searching which scan the internal and external environment of the sector, selecting where the best signals in the environment are chosen, implementing which translates the trigger idea into something new and launching it in the internal and external environment, and learning which learns news ways of improving the process continually (Omachonu, 2010). This paper maps out the innovation process in the healthcare sector and looks out how it works in practice and where they need to put more emphasis.
Innovation process in healthcare sector and how it works out in practice:
As noted above the innovation process involves various activities which are searching, selecting, implementing and learning.
Searching:
The ability to scan and identify ideas and potential innovations both in the internal and external environment of the healthcare sector is imperative for the innovation process in this sector. The search process is often supported by various tools and instruments such as porter five forces, SWOT analysis or web based innovation contests. It is important that weak signals that have the potential of disrupting the environment be detected and monitored in order to define the scope of the search accordingly, whether discontinuous or continuous innovation (Omachonu, 2010).
The search stage in the healthcare industry is usually structured by large established health research centers that are funded either by the government, large pharmaceutical industries, hospitals and universities. These apply several mechanisms such as innovation hubs, collecting data on trends of treatment of various ailments, ailments with no cure and their changing shapes and sending scouts to find innovative ideas of making healthcare provision better. Most of the ideas are often triggered by dissatisfaction about existing ...
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