Sign In
Not register? Register Now!
Essay Available:
You are here: HomeEssayLiterature & Language
1 page/≈550 words
3 Sources
Literature & Language
English (U.S.)
MS Word
Total cost:
$ 7.2

Innovation in companies Literature & Language Essay (Essay Sample)


The task here was to prepare a brief summary and give four reasons as to why organizations are forced to embrace innovative culture.


Innovation in companies
Companies are currently operating in a very complex and unpredictable business environment hence innovation is highly considered a survival skill. For this reason, innovation is not only natured as a culture but also as a fighting strategy in the competitive business environment (Kahn, 2018). There are many reasons why organizations are pushing for innovation opportunities. Companies may receive pressure from the internal environment or the external environment to adopt innovation to remain competitive. In this paper, four reasons that force companies from the external environment to embrace innovation have been discussed.
* Catching up with the high global competition: Today, businesses are operating in a very competitive environment that forces companies to strategize their operations to remain profitable (Klein, Schneider & Spieth, 2021). The global market also presents consistently changing demand patterns that can make technology be outdated after some shorter periods after launch. This, therefore, makes more innovative ideas very important for companies to be sustainable in the ever-changing market.
* The millennial era in business: Businesses are currently faced with the millennial era where young people are taking over from the aged. These young people are very creative and ready to take risks to come up with new ideas. Because of this, businesses must also aim to find very new and creative ideas to catch up and remain viable in the market. This makes innovation very important for companies to design their products and services in a manner that can make them maintain their market share or even extend their territories.
* Changing customer preferences: As years are elapsing and technologies coming and going, customer expectations are also changing. With the innovation of social media and e-commerce, consumers have been more aware of what is available in the market. With this kind of knowledge about products and services in the market, consumers are increasingly demanding that companies be able to provide exactly what they want. This means that companies are put to task to come up with new ideas that can help them provide the solution to the market demand. Therefore, innovation becomes the only goal for companies.
* Advancement in technology: The world is taking a new direction in terms of technology. Businesses are moving from contemporary operations to modern ways such as digital marketing, social media marketing, and generally e-commerce that get more sophisticated as time goes. One reason for these technologies is that they help increase business

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • PTSD. War and Post Trauma Stress Disorder. Journal Rhetorical Summary
    Description: Multiple studies have projected a connection between long-term negative impacts on mental health with traumatic war events. The war veterans have faced polytraumatic experiences from war and express posttraumatic stress disorder (PTSD) symptoms....
    6 pages/≈1650 words| 5 Sources | APA | Literature & Language | Essay |
  • Teen pregnancy Literature & Language Essay Research
    Description: Even with the decrease of teen pregnancies by approximately 55 percent, adolescents are still getting pregnant and giving birth, where the highest percent of these pregnancies are unplanned and unintended. These teen parents experience health risks, multip0le stressors and other complications....
    1 page/≈275 words| 3 Sources | APA | Literature & Language | Essay |
  • LOVE PERCEPTION. Literature & Language Assignment.
    Description: Altough this kind of affection occurs naturally it is strongly believed that when two teens are in this mutual affection is a bad decision to fall in love since it is also believed that it is a channel to some immoral behaviour such as having sex among the teens or even commiting suicide if betrayed....
    1 page/≈275 words| 1 Source | APA | Literature & Language | Essay |
Need a Custom Essay Written?
First time 15% Discount!