INNOVATION innovative founder , Steve Jobs , also moved from the company during this period .
To this end it ’ s critical that a balance between main-stream and newstream resources is required for optimal performance outcomes . Moreover , the key requirement for market innovation success is the tight coupling of these streams throughout the new product or service development cycle , known as the company-wide innovation capability . This allows innovative companies to produce new products and services in a quality focused , efficient and responsive manner .
Market Innovation is clearly not just about marketing research and development , nor is it something that can be successfully performed in an innovation department or a separate piece of an organization . Rather , for those who do it well , it pervades all aspects of an organization ’ s existence , from the core value system to the measures and behaviors that are manifested on a daily basis .
Market innovation can range from incremental to frontier . BMW may be viewed as a frontier innovator ,
“ High performing innovators are able to maintain a giant juggling act of capabilities , and consistently bring new high quality products to the market faster , more frequently and at a lower cost than competitors .”
choosing not to introduce a new model until it is very different from the previous models and is at the leading edge of the technology frontier . In comparison , Japanese automobile manufacturers may be viewed as incremental innovators , frequently introducing new models that are only slightly different from the 355 previous ones and do not incorporate all possible technological advances .
The notion of market innovation capability is useful to apply to innovation as it is the capability to innovate that creates the potential for new product and service within the firm .
Market innovation capability can be considered to have some seven aspects , namely brand vision and strategy , harnessing the brand competence base , marketing intelligence , creativity and idea management , brand structure and systems , culture and climate , and the brand management of technology .
In conclusion it ’ s proposed that organizations that consciously and explicitly develop and invest in these aspects of market innovation capability , individually and collectively , have a higher likelihood of achieving sustainable innovation outcomes as the engine of their business performance . ■
Joe Nyutu is a Leadership , Strategy and Culture expert . Commune with him on this or related matters via email at :
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