The innovation
According to Souza (2010) he clearly explains the meaning of providing a country’s innovation plan and its creativeness. He explains that innovations process mainly include the use of commercialized contraptions through the purchasing and selling of brand new products and services in the marketplace. For a country to successful attain its innovative goals and objective it should be able in changing these inventions into creative ideas which will aid the country in attaining a profitable gain. All this are reflected by the Country that is specialized in producing home furniture to its consumers. It is prominently known to be the global leader of producing furniture and home equipments. Due to its prominence in the marketplace, other competitive companies have chipped in the market in order compete. In order for the country to remain at is present position it has to provide possible solution to its pricing strategy since it the major factor contributing to a decline in the country’s sales (Souza, 2010). The main objective of this paper is providing two innovative strategies for the Country in order to boost the pricing processes thus enabling the country sustain its current position in the marketplace.
National problem: The main problem encountered by the most governments is having a substantial effect of the pricing strategy which greatly impacts the government overall revenue in the market (Erdelyi & Topaloglu, 2010). This issue emanated since there was a bragging issue with the government ministers who demanded a 28 streak which should cause a neutral effect on the pricing process.
Innovation strategy: Pricing problems are often affecting the national values sales which raised an alarm for the formulation of a suitable plan. Therefore, due to the pricing problems in countries a Connect +Develop are suggested to be ultimate solution. This innovative plan will enable the country achieve a good competitive advantage unlike other countries in the marketplace. Merminod & Rowe (2012) suggests that the countries should be aimed at assembling resources which will be used in researches which will be able to uphold the most governments repute. Additionally, another innovation tactic that the country will employ is the use of open innovation approach that will employ the use of security and exchange commission filings so that prices of products can diminish making country’s potential customers purchase its products. This strategy is used due to the fact that the country has different brands which are of high quality making most consumers love their products (Kerin & Peterson, 2013). The country’s main objective is for the newly introduced innovation strategy to make the country produce about $3 billion heading for the government yearly sales.
Context and feasibility
In this section there will be an evaluation of the feasibility processes together with the factors which influence the implementation process outlined in the previous sections of this paper. These are the factors that hinder the implementation process of which aid in the boosting the pricing sales of the country at large. The factors are very important thus should be pointed out so that a country’s power balance can be identified considering various environmental factors (Sharma & Ravi, 2016). These factors are political, economy, industry/market, social, regulatory factors that inhibit the implementation of the innovative action plan postulated.
- Political factors
- The political factors are very essential factors which will take part in the implementation of countries problems innovation action plan. All operations done by the country are always compliant with various relevant laws which have been set out by the political leaders in the country in which the country operates. Therefore, the country functions are always open and adhere to the state’s set laws. The country thus governed by a vast number of board director who are there in order to provide legal directive on country processes and decisions.
- For example in an event where there should be enactment of a certain innovation action plan it will rely on the support of the members in for this strategy to be improvised and implemented with immediate effect. This shows that political influence is very important in determining the implementation process of the national’s activities.
- Economic factors
- Economic forces affect the innovation capabilities of most countries considerably. The country (e.g. in USA) is affect by recession hence resulting in a significant impact on sales and revenue growth since potential clients only tend to buy cheaper products, discounted products due to “trade downs”. Forces posed on the demography also alter the growth of countries (Brasli?a, Viksne, Upenieks & Batraga, 2015). In more developed niches countries like America, there is a significant number of aging consumers which signify that the country should target baby boomers. As for emerging markets, there are a significant number of clients that could result to new markets. This factor is global measurement thrilled by economic developed witnessed in countries like Russia, Brazil, India and China. These are new potential markets hence forcing the need to produce more products that could be distributed to these niches.
- Social factors
- Social forces also affect any countries ability to innovate. This force heightens the necessity for the country to create more awareness about their products. Most nationals are forced to cater the wellbeing of consumers like; supply beauty products.
- Innovation forces also affect the country. The capital allotted to most countries is intensive. Due to this reason, the country should also embrace the notion of ideation to stay on top of its competitors (Yousefi-Nooraie, Dobbins & Marin, 2014). This is only achieving when the country use modern technology to produce unique products and services.
- Regulatory factors
- Regulatory matters are always dealt with high level of seriousness, and other issues that are not meeting the specified requirement are handled and possible solutions are identified in due time. This is due to the fact the Country is involved in many lawsuits which hold back the progress and the development of the country’s innovative processes (Komariah et al., 2018). Currently, the managerial system of Country is faced by many suits which always affect the progress of the country. Therefore the Connect +Developand open innovation action plans may be delayed to the need of clearance of these lawsuits which always deteriorate the state reputation.
Since the Country is focused in implementing the Connect +Develop innovation plan, there are certain process and the requirements they have to meet so that these plans can run smoothly. Therefore according to the research perception and idea of the implementation strategy reaching a wide audience in the market the country should institution the use of the ‘Connect +Develop’ scheme which will help in improving the country’s innovativeness (Schneider & Bartram, 2017). Below are step in which innovativeness of countries should be followed, they include:
- Convey the idea everywhere – the innovation strategy should be posted every where the country’s potential customers, suppliers can see. This will help in acquiring feedback about the strategy which is about to be implemented by the country thus reducing the risk levels.
- Acceleration of the innovation – the Country should institute an appropriate outstanding R&D division who should be in a position of cutting down long processes which are present in the country’s economic systems.
- Through growth opportunities – the country should complement the R&D factor in their planning process which will enable them evaluate the quantity of innovation and their competitive advantage over their rival companies in the marketplace (Sanchez & Heene, 2010).
- By complete circle of the innovation processes – since about half of the country’s innovation action plan is always suggested by the customers, the present innovation strategy should be delivered to each customer so that their views can be collected and thus will be effectively used for proper decision making.
Actually, the stated 4 step implementation plan will be effective for the country due to the fact the country has the ability of innovating since it can create more space in the modification of appropriate connections as stated above. Compared to other companies, this 4 step technique is efficiently compliant with present innovation action plan to be instituted due to the present national culture of innovation appraisal.
According to marketing statistics, the Country is known to be the global leader of furniture goods all over the world. The main objective of the country is improving people’s standards of living through the opening a brand new strategy which will show fruitful results everyday through an increase in the sales force of the country. Moreover the country has opportunities in which it should cover which make use of the country’s market share, and reduce the threat levels in the country (Karbasi Motlagh, Rahmati Najarkolai & Keshmiri, 2015). Due to this reason the paper has outlined various recommended measures which will enable the country utilize its strategies appropriately. Detailed explanation is provided below.
Action steps and objectives
- Step: Utilize of strengths – the ability of a country to use its strengths in the marketplace will enable it to improve itself technologically. This step is essential for the country since it will help in minimizing various effects which come from certain emissions. Additionally, this will boost the country’s ability of spending more in the marketing process of their products which will increase the country’s competitiveness.
- Objective: Enchantment of consumers through the use of the Connect +Developstrategy as part of their marketing process (Wilson, 2012). Lastly, is providing an open environment with the shareholders which facilitate effective innovation process.
- The responsible teams who will make sure that the mentioned innovation action plans are put into consideration are the stakeholders of the country (Gebert, Boerner & Kearney, 2010). The country joins forces with the relevant shareholders so that it can ensure that action plan’s objectives are successfully attained. Additionally, the country has permitted the use of Connect +Develop Strategyso as to achieve its stated objectives.
- The potential asset which is very useful includes the use of up to date filings which are always submitted via the country’s security exchange commission should be used in the plan for innovation of the country (DENG, DENG & LI, 2010). This resource is very useful for country such to create an investment process that which will increase the country’s growth at a higher rate.
- Inadequate law implementation policies and political instability are the main factors which influence the growth of the country which in turn affects the performance of the country at large (Delbru?ck, Hofmann & Zimmermann, 2013).
- Hesitation of decision making process which influence investors motivation – since the country is affected by political factors the decision making process may be compromised thus causing delays in conveying important feedback to potential investors of the country.
- Despite the vastness of the Country it also needs other country’s aid so that the implementation of the innovation processes can be effective. The country considers the help of other superior states and other associates which represents about 15% of the overall income per year. Due to the coverage of a substantial percentage of the country’s revenue, the country’s financial advisers count on powerful countries in aiding them through the innovation action plans.
The projected outcome of the country after close evaluation of the stated innovation plans presented in this paper is that it will improve the present pricing problems in the Country making it boost its sales (Kno?rzer & Szodruch, 2012). The projected innovation strategy of the Country will permit the country in maintaining a productive and profitable state as potential customer’s country useful provides feedback.
References
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Delbru?ck, J., Hofmann, R., & Zimmermann, A. (2013). German Yearbook of International Law. Duncker & Humblot.
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Komariah, A., Kurniatun, T., Kurniady, D., Anggorowati, R., Abdullah, A., & Nandiyanto, A. (2018). Educational Administration Innovation for Sustainable Development (3rd ed.). Milton: Chapman and Hall/CRC.
Merminod, V., & Rowe, F. (2012). How does CONNECT +DEVELOP technology support knowledge transfer and translation in new product development? Transparency and boundary spanners in an international context. Information And Organization, 22(4), 295-322. doi: 10.1016/j.infoandorg.2012.07.002
Sanchez, R., & Heene, A. (2010). Enhancing competences for competitive advantage. Bingley, UK: Emerald Group.
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