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The paper is dedicated to the necessity of technology-driven innovation in the current business context and factors that form the innovation process and determine its success.
In the contemporary business environment, innovation may be regarded as a particular strategy, system, service, or product that may be useful for operational processes. They aim to address existing issues, improve the company’s performance and customer relationships, increase its value, and provide competitive advantages (Clegg, Harris and Hopfl, 2011; Dodgson, Gann and Satter, 2008). In the case of PowerDoc, its technology-driven innovation implies a common word-processing tool (PowerDoc, no date). Its necessity was determined by changed conditions – PowerDoc experienced growth that led to the extension of its customer base and tension within the company due to increased workload (PowerDoc, no date). Thus, the purpose of the implementation of a word-processing system was the increase of the company’s output along with the reduction of its expenditures.
Innovation does not necessarily presuppose the development and introduction of new products and services. In turn, it may improve and facilitate organizational processes to meet customers’ expectations (Hayes, 2018; Goffin and Mitchell, 2017). Thus, there are technological, market and organizational factors of the innovation process that work together and impact changes. Technological factors refer to available systems that may be implemented in the company to optimize its performance, improve employees’ productivity, provide excellent customer service, and reduce costs (Lopes et al., 2016). In turn, market factors imply competitiveness and customers’ needs that should be considered by companies to avoid decline and develop (Goncalves et al., 2010). At the same time, there are organizational factors, including leadership and management style, resources, technological capabilities, organizational structure, employee’s commitment and acceptance of change, knowledge, and corporate strategy (Warrell, 2017; Smith et al., 2008). All in all, for the innovation process, market factors should identify its necessity, and organizational factors should ensure the implementation of technologies, which, in turn, aim to address external issues.
The interconnectedness of factors may be observed using the example of Amazon. Being a customer-oriented business, Amazon pays particular attention to consumers’ needs and aims to meet their expectations through continuous innovation that improves its services (Bieler, 2021; Slater, no date). At the same time, it creates an organizational culture of innovation that facilitate the change process (Tucker, 2018). In the case of PowerDoc, the company did not have organizational resources and appropriate strategies and methods for successful innovation.
Reference List
Bieler, D. (2021) Learn from Amazon’s approach to innovation. Web.
Clegg, S. R., Harris, M. and Hopfl, H. (2011) Managing modernity: beyond bureaucracy? Oxford: Oxford University Press.
Dodgson, M., Gann, D. and Satter, A. (2008) The management of technological innovation: strategy and practice. Oxford: OUP Oxford.
Goffin, K. and Mitchell, R. (2017) Innovation management: effective strategy and implementation. New York, NY: Red Global Press.
Goncalves, A. et al. (2010) ‘How to use information technology effectively to achieve business objectives,’ Chapter 1.2, pp. 1-16.
Hayes, R. (2018) The theory and practice of change management. Basingstone: Palmgrave Macmillan.
Lopes, A. P. V. B. V. et al. (2016) ‘Innovation management: a systematic literature analysis of the innovation management evolution,’ Brazilian Journal of Operations & Production Management, 13(1), pp. 16-30.
PowerDoc: a case study examination of information technology, strategic choice and the management of change (no date) pp. 1-4.
Slater, D. (no date) The imperatives of customer-centric innovation. Web.
Smith, M. et al. (2008) ‘Factors influencing an organisation’s ability to manage innovation: A structured literature review and conceptual model,’ International Journal of Innovation Management, 12(04), pp. 655-676.
Tucker, R. (2018) How does Amazon do it? Five critical factors that explain Amazon’s incredible success. Web.
Warrell, M. (2017) How the best leaders get people on board with change. Web.
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