Significant Innovation

Significant Innovation

Goffin (2005, p, 3) identifies within theory, that there are certain needs which feed innovation.

Innovation plays a huge role in business, no questions asked there.
Some businesses rely on innovation to create and shape their company, through an invention or new concept. Others use innovation in a more kaizen approach, following a continuous movement to better themselves. And this is why innovation is important for most organizations. Organizations need to recognise that by constantly looking for ways to better themselves and re-evaluating the business, they will remain competitive.

Innovation has become such an important objective in companies, that if a business seizes to remain innovative, they will become out of touch with the sector they operate in and more importantly, they will come out of touch with their market consumers.

This is clear in the gaming industry. Nearly each year a new gaming console is brought out from Xbox, Playstation or Nintendo. The market has become so hyperactive with developing the ‘next best thing’ that success or failure is down to innovation. Hence why so much money is poured into R&D within these companies. As identified by Tom Phillips (2011) who reveals that Nintendo are to spend £127 million on a new R&D facility.

What goes up, must come down…

My proposal is that innovation must come to a standstill at some point. History has proven that for every boom in the economy, it can be matched against a bust. For one civilization to prevail, another must crumble. It may just be my personal philosophical outlook. But I believe that continuous innovation must come to a standstill.

Companies such as apple and Microsoft who are always investing in R&D are forcing themselves into a corner. By bringing out new products so quickly, they are competing not only with other companies but also with themselves. There is going to be a point where they cannot bring out a new product as quickly as the last and this will reflect negatively on the company.


Reference List


Goffin and Mitchell. 2005. Innovation Management: Strategy and Implementation using the Pentathlon Framework. Palgrave Macmillan
Available from http://www.palgrave.com/business/goffin/about/1403912602_02_cha01.pdf
Accessed [online] 17/12/2011

Catherine Schwartz. 1992. Chambers Dictionary. W & R Chambers Ltd. Edinburgh.

Image available from:
http://www.mytrendyphone.co.uk/shop/console-accessories-46340s.html
Accessed 17/12/2011

Tom Phillips. 2011. ‘Euro Gamer – Nintendo to spend £127 million on R&D facility’. Available from:
http://www.eurogamer.net/articles/2011-07-01-nintendo-spends-GBP127m-on-r-and-d-facility
Accessed 17/12/2011