Organizational ImpactOrganizations use innovation and creativity to transform, reinvent, transition and modify the services and products they offer in order to accommodate the market needs and demands. Change is difficult for organizations that do not have innovative programs or think innovation to be an important advantage and ingredient for growth and profitability. Innovation is necessary to make the transitions and modifications to the business strategy which result in competitive advantage, meeting and exceeding the expectations of the customers and ultimately existence. This paper will examine the impact of innovation on Apple, Microsoft, Nike Inc. and describe how each company's strategy, processes, products, and or services have been affected by innovation.
To understand the impact of innovation on strategy, processes, products and services the definition of innovation needs to be understood. Innovation is not about designing new products, innovation is about creating or delivering to customer's products or services they don't even know they want but now they must have (Harvard Business Review 2009).
Innovation is the thought of a new creative method, process or idea to a service or product already in existence and that has worked well but now has been changed or modified to fulfill a different need, market or demand. The change or modification will then bring additional revenue to the organization as a result of the innovative process. Strategy refers to how the organization will obtain the ends it seeks to achieve; strategy refers to a position taken by the organization. Processes are the learning, designing and planning of the strategy. Products are the results of goods through manufacturing or a service. Services are the efforts or work by one person or group of persons who benefit another person or group of people, services are considered to be intangible (Betina, 2003).
The impact of innovation is...