• The organization has to establish a competitive advantage through differentiation in order to create a significant and unique image for the organization in the external market.
• How to implement: By assigning the marketing department with the support f the other departments in order to come up with new ideas regarding the product and the service. This will even increase the customer satisfaction and will meet the customer’s needs and wants.
• The organization has to utilize the value chain of the firm in order to recognize the new opportunities in the market.
• How to implement it: The CEO has to encourage the value chain department to distinguish the firm’s strongest potentials and work closely to grow it and expand it.
• The organization has to identify the stage that the firm is going through, and consequently choose the appropriate strategy to best fit within the stage.
• How to implement it: The CEO has to carefully study the market eternally and externally in order to recognize the stage of the organization and then choose the strategic plan that can develop the firm’s productivity.
• The organization has to develop a “rapid innovation” engine in order to be in the track in a competitive globalized market.
How to implement: form a special team that monitors the outside market and focuses on the ability to develop the innovative side of the organization.
• The organization has to take into consideration that their competitors come from the other end of the world and from other industry. This industry may have a quicker rhythm of development cycle. This is why the organization has to react fast and with high efficiency.
How to implement: The organization has to react fast, and make straightforward decisions regarding the innovation development.
• The organization has to be aware that the rapid innovation may offer a chance to enter a new market and increase the organization’s revenue.
How to implement: The organization has to keep a track regarding all the rapid changing in the outside market in order to catch any available chance to enter a new market.
• The organization has to use innovation as a tool to seduce customers. Especially those customers are hard to be attracted to a product.
How to implement: The organization has to increase the budget allocated to the innovation department in order to give it a chance to create more innovative products that can open the door for a new market.
• The organization has to be aware that although rapid innovation might create a pressure to the whole organization but it can also improve the quality of the product, since the second version is always better.
How to implement: The organization has to benefit from the experience of the competitors around the world in order to make fewer mistakes in their own products and innovations.
• The organization has to make sure that the innovation department, which should be an essential part of the organization, has to be based on design thinking, user involvement, fast integration, prototyping and testing capabilities.
How to implement: The top management has to encourage the innovation department to be more creative, more productive and also think with high integration, which will all lead to a product that gains the customer’s satisfaction.
• The organization has to establish the key components for its “innovation department”, which is mainly culture f diversity, opportunities that are picked up from the external market, focus, narrowed, and tight goals that can be achieved easily and finally knowledge circulation.
How to implement: By making sure that all the above key factors are fully implemented within the innovation team.
• The organization has to align between the innovation department and the other departments in the organization.
How to implement: The top management has…