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Adopted Innovations Essay

577 words - 3 pages

EXERCISE

* Is there any compatibility between adopted innovations and the selection of a business action by a small –medium enterprise? In other words innovations implemented in company, a) make the desired grade of change at company level and/or b) produce the value desired in the environment?
The actions that a business selects are always dependable on the potential of the company. Before a business plans how to proceed with a new action, it has to research its potential and the already adopted innovations so as to find a way to break new ground. In doing that, it makes the desired grade of change at a company level and produce the value desired in the environment.

* P. Drucker supports: In order to be able to innovate, a company should separately organize the new from the old and existing. Do you agree or not and why?
The above statement ...view middle of the document...

Large enterprises can rely on it for their innovation to succeed. They do that firstly by research and development, marketing and any other strategy they can call to arms. Taking all these measures, reduces the uncertainty of innovation. Therefore, larger companies can indeed more easily deviate from old and existing forms. On the other hand, for small-medium businesses uncertainty is greater since they cannot rely on such resources to establish their product. For this reason, using as a base the old and existing forms, which have seen them resonating with the market, can ensure acceptance and avoid uncertainty.

* Do you agree that the larger and more important are the innovative changes in a small-medium enterprise, the greater is the uncertainty? Please comment.

Uncertainty is an inseparable part of innovation. The factors that cause uncertainty are various ranging from personal to social. While people demand evolution and like to diminish trite and over-used ideas, there is always the fear of the unknown of a great innovation since it entails incomplete knowledge. Due to the fact that our today’s world has exploited almost every resource of ideas, and every field is saturated, companies need to proceed to ideas which break away from conventional and established attitudes, beliefs and lifestyles. The conviction that the larger and more important the innovation is, the greater the uncertainty, is based on the feeling of the unknown that the customer confronts. If the innovation rises from already implemented ideas, the uncertainty of its acceptance is reduced. If the innovation is something totally new, and irrelevant to old forms, the uncertainty increases as the unknown increases. The risk that an innovation entails is particularly greater for small-medium businesses which may not have the necessary resources, such as financial one, to promote the product. Innovation requires, or rather demands for good marketing and sufficient advertisement so as to convince the customers of its competence.

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