Organization Approach to Innovation Management Essay (Essay Sample)

Organization Approach to Innovation
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Organization Approach to Innovation
The ways of approaching innovation are highly dependent on the existing business strategy, market understanding, and capability and the available capital and other resources. The company uses new technologies to add value to current products or services. The aim is to differentiate the business from its competitors and enhance the perceived value to the markets and customers. It includes identifying opportunities for innovation by adapting the products and services to the changing needs in the marketplace (Loewe & Chen, 2007). For example, the organization has considered using 3D printing technology to appeal to the market segment that requires clear images.