THE NEED FOR INNOVATION AND CHANGE MANAGEMENT. Assignment (Essay Sample)

THE NEED FOR INNOVATION AND CHANGE MANAGEMENT
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The Need for Innovation and Change Management
Innovation is the generation of new ideas geared to help an organization remain competitive in its operations. As complexity increases, managing change and innovation becomes increasingly difficult. Innovation requires some level of transition, which involves learning. People wonder the types of technology that will be present in the future, as none thought about the emergence of mobile phones before their innovation. Therefore, for businesses to thrive, they must create and identify new types of innovation, manage innovation well, learn from the innovations that have changed the world of business today, understand the role of innovation and fight its resistance, and improvise methods of remaining competitive in the business world.
Precisely, innovation is the key to trading success. According to Brooks (2013), in the immense sea of revolution, businesses that take the significant risk, close the critical gaps, and recognize the newest chances are regarded to be true innovators and leaders by their customers and competitors. Recently, it was revealed that over 90 percent of business executives believe that the long-term accomplishment of their firms’ policy depends on their capacity to cultivate new ideas (Davies & Buisine, 2018, p.106). Therefore, businesses need to create, identify, and adopt various types of innovation to ensure their success.