Types of Innovation
The major objective of this presentation is to evaluate the significance of contextual factor, i.e. innovation and entrepreneurship on Adidas Company.It examines how these factors can improve the quality, effectiveness and business activities of Adidas.Adidas is German corporation, which offers variety of products, i.e. cloths, shoes and accessories to target its potential customers.
- Innovation is the process of initiating new processes and activities in an effective way, so that it can differentiate itself from others.
- This factor is working as a strong driver in developing competition in today’s business environment.
Types of Innovation
Sustaining Innovation
It is a significant and incremental type of innovation, which allows and sustains the existing products and services of organization. For example; technology innovation (Braunerhjelm, 2010).
Disruptive Innovation
Disruptive innovation assists an organization in creating new value network and market. It does not attempt to introduce new products to customers in existing market
Technology Innovation
Technology innovation is the process of implementing significant technology changes in existing business processes and products.Adidas aims to execute technology innovation by incorporating modern and advanced technologies in its production and manufacturing process (Braunerhjelm, 2010). It can increase the use of different computer software, like CAD software.Customized pattern of cloths and other products can save the resources and time of Adidas.
Disruptive Innovation for Adidas
Disruptive innovation refers to implementation of innovative practices, which significantly impacts the functioning of an organization and industry.Adidas can apply the disruptive innovation to its business practices and processes (Dawson & Andriopoulos, 2014).Under this, it will fully re-innovate its business models and practices.
It eventually assists in disrupting the market
Disruptive innovation refers to implementation of innovative practices, which significantly impacts the functioning of an organization and industry.Adidas can apply the disruptive innovation to its business practices and processes (Dawson & Andriopoulos, 2014).Under this, it will fully re-innovate its business models and practices.
It eventually assists in disrupting the market
Adidas and Entrepreneurship
There are different ways, through which entrepreneurs at Adidas has initiated its business processes.At Adidas, its Founder Adolf assler placed great emphasis on collecting his ideas, learning and thoughts.The organizations like Adidas needs high level of entrepreneurship to attain more competitive advantage (Singh, 2011).
Entrepreneurship
Under entrepreneurship, Adidas is taking competitive actions to become more competitive in the sportswear and design industry.It is working to have more opportunities and ready to confront the related risks and challenges.At Adidas, entrepreneurial motivation is one of the major success factor behind employee satisfaction and motivation.
Implementation of contextual factors
At Adidas, it is significant to implement these two contextual factors, i.e. innovation and entrepreneurship.Working in textile and industry, the organization needs to use updated and advanced technology (Needle, 2010).The entrepreneurs need to diversify its products and services by adopting product diversification strategy.
Implementation
By implementing sustaining and disruptive innovation, Adidas can use advanced technologies and innovative practices.Use of ology advances assisted the organization to overcome the challenges related to competition and higher costs.The entrepreneurship of Adolf Dasslar is the real motivation for other businesses to follow.
Relationship between Innovation and Entrepreneurship
There is a significant relationship between entrepreneurship and innovation.Innovation is a wide area that includes entrepreneurship and entrepreneurship cannot exist without innovation (Szabo, Zsuzsanna & Herman, 2012).At Adidas, entrepreneurs utilize nnovation to develop new opportunities and changes for generating profits and revenues for its business.
Impact of Innovation and Entrepreneurship
With economic globalization, the innovative entrepreneurship has achieved a significance in all sectors, inclusive of sportswear and textile industry. By implementing these practices, Adidas can enhance its business processes (Needle, 2010).It will have benefits in terms of increased revenues and customer base.These factors work as necessity to become more competitive in the industry.
Recommendations
It is hereby recommended that Adidas should focus on enhancing its entrepreneurial skills by incorporating innovation.It should make more focus on sustaining innovation, so that it can attain more competitive advantage over its competitors.Effective implementation of these contextual factors will assist the organization in attaining future growth and success
Conclusion
In today’s business environment, Adidas needs effective and sophisticated management processes in addition to higher level of creativity and innovation.From this analysis, it can be stated that innovation and entrepreneurship are two important factor for business survival and growth Through technology innovation, Adidas can provide smart clothing to its potential customers
References
Adidas Groups. (2017). Strategic Overview. Retrieved from.
Braunerhjelm, P. (2010). Entrepreneurship, Innovation and Economic Growth: Past experiences, current knowledge and policy implications. Swedish Entrepreneurship Forum.
Dawson, P. & Andriopoulos, C. (2014). Managing Change and Innovation, Sage Publishing, London, U.K.
Needle, D. (2010). Business in Context: An Introduction to Business and Its Environment. Cengage Learning.
Singh, P. (2017). Retrieved from.
Szabo, Zsuzsanna K. & Herman. E. (2012): “Innovative Entrepreneurship For Economic Development In EU”. Procedia Economics and Finance 3 268-275.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
