Introduction
After the current economic crisis, the thing that emerged like essential for the entities is their inner confidence and efforts to compete with other organizations operating in similar line of business and control (Adair & Thomas, 2004). Growth and Development in regular concession is extremely essential for an organization, because it is the only thing that can keep it edgy and productive in terms of their competitors. The power of competition has increased heavily in all over the world especially after the current economic crisis, and from that period, the stance of competition is increasing heavily (Elias, 2007).
History evident that those organizations that have a clear cut strategy and implications towards the development and growth are more ethically and financially sound in comparison to those organizations which are not. The aspect of getting the things in edge would be essential for the companies across the globe, and it is equally beneficial for the financial position of the companies. There are two important aspects and elements that found interesting and effective in terms of satisfying the needs of their consumers which are creativity and mobilizing the consumers (Goldenberg, Levav, Mazursky & Solomin, 2009). However, the choice of these elements varies from industry to industry or companies to companies. Technological companies that have a major market share in all over the world are now focusing on Creativity and Innovation to have an upper edge over its competitors. They have the idea that the thing that can make a difference in the current economic scenario is covering and brining effective creative solutions and innovations in their services (Goldenberg, Levav, Mazursky & Solomin, 2009).
In this assignment, it is required to analyze the current best practices that stride under the ambit of creativity and innovation predominantly in the Technological Companies. It is a theoretical assignment, therefore it will be covered under different headings, however the main heading comprises on introduction, analytical framework and conclusion.
Analytical Framework
Using of Technology to Collaborate and Sharing of Knowledge in Apple, Microsoft and Samsung
One of the best things that associated with an organization is enhancing the level of communication among their internal as well as external shareholders. Internal shareholders also include the employees as well. If the level of interaction and communication are effective then it means the behavior of productivity would be positive and essential. The current practice of utilizing technology to share the knowledge has now emerged as an integral thing for the technological companies across the globe. Social networking, including facebook, twitter and hi-5 are some of the examples of the same. By collaborating with different individuals and professionals, people get different creative and innovative ideas, which can be applied on the company itself later on (Owens, 2012). The practice of intermingling with the professionals in this way can be extremely essential for those organizations which always try to become one step ahead from their competitors, and technological based companies are found effective in this particular aspect. Sharing of knowledge with others is effective, but it will be more than effective, if all the valuable information would be share among the colleagues first, and then the other professionals, because the necessity of creativity and innovation is essential for the company itself, rather than for the competitors. The same is find in these three organizations selected.
Promote Innovation as an Organizational Value in Selected Organizations
Organizations always want to increase their economic prosperity with positive attitude and effectiveness, and for the same purpose they have number of options (Owens, 2012). Firstly, they can strengthen the departments of the company, or secondly, they can empower their customers by giving a close focus on their needs. However, the organizations who think that innovation is the key for their success, and they will get appreciation from their consumers when they promote innovation, then such organizations will get more appreciation and effectiveness in the future. The current practice of promoting innovation in the technological products has now emerged as an important aspect for the technological based organizations across the globe. Some of the major aspects are Apple Inc and Samsung, which always try to innovate something new in their Smartphone. Obviously, the level of innovation and technology of the company is high, the more productive it will be in the future. The pin point here is that the management has to get aware with this thing and should try to deliver the best possible innovation aspect to promote their products to enhance their organizational value in an organized manner.
Include Innovation and Creativity as a Leadership Development Competency
Leaders and managers are some of the important professionals for an organization, and an organization cannot ignore the concept and importance of leadership from any aspect (Owens, 2012). Leadership is methods cum strategy through which an organization can become prosper in the ground of finance and strategic valuation. The practice of innovation and creativity has now emerged as an integral function and aspect that will help the leadership development competency to enhance accordingly and effectively. For the technological companies, innovation and creativity are two major forces, and without these two forces these companies cannot do or accomplish anything effectively. The practice of including the innovation and creativity as a leadership development competency and capability has now emerged as an important function for an entity, and it is one of those aspects that have a direct linkage with the financial and strategic position of an organization (Sawyer, 2003). Microsoft is one of the largest technological companies of the world, and the practice that used behind the competency of the company is the same, as Microsoft has made the essence of innovation and creativity as their foremost leadership development programs and aspects that associated with their future consequences and effectiveness. However, the leadership stance is also effective in Apple Inc.
Tie Compensation to the Innovation/Creativity in Selected Companies
Employees are the referred as the backbone of an organization, and no organization can found effectiveness and power without having effective employees in it. Technological companies are fortunate to have one of the best talents of the market, which are in regular efforts to create and bring innovation in the products and services of the company (Sawyer, 2003). Having such employees in the company is an attractive thing, but suppressing them to do work is another thing. Therefore, the practice of compensation has now emerged as an integral aspect to bring and enhance the level of innovation and creativity. Those technological companies that give high compensation for every innovation or creativity they bring towards the products and services of a company are more towards achieving the effectiveness as compared to other organizations. Some of the major examples of the companies which are compensating high to their employees for brining innovation and creativity in their products and services are Apple Inc, Microsoft and Samsung. In consequences, the employees of these technological companies are devoting their time efforts, and thinking abilities from which they can initiate innovation and creativity accordingly. This particular practice has to adopt by every technological company of the world in order to be on the place of zenith.
Developing an “Idea-Finding” Program
There are four pillars of organizational management, controlling, planning, organizing and leading. All of these four elements or pillars should be in an organization to make the organization prosper from different angles. But the element which is superior from all of these four elements is “Idea-Finding” (Sawyer, 2003). Without a perfect idea, no company or business can establish on the earth, as idea provides a brainchild to the entrepreneur in terms of getting establishing the business (Sloane, 2011).
It is not always the case that the finding of idea only addresses when there is a need of entrepreneurship, as it can also be used to maintain the effectiveness among different peer companies. The practice of finding the idea to compete with other technological companies are more than essential, and lots of technological based companies especially their think tanks sit together to find a better idea regarding brining innovation and creativity in their products (Tschmuck, 2006). Toyota Inc is one of those companies which have intelligent think tanks and ideas finder, who innovate something new in the previous model to launch as a new one. It is a cost cutting strategy from which organizations would benefit double, because of the quality products of the company, and its goodwill in the market. However, the point of idea finding is also effective in the selected companies Apple, Samsung and Microsoft.
Funds outside Projects
Funding and development of the projects are very important and effective for the sake of an entity, and it has the tendency to deliver the things accordingly in the favor of innovation and creativity. The current practice of having funds for different projects for the technological companies are high, and that is the main thing why the stance of strategic alliance and partnerships are increasing in different parts of the world. By having a strategic alliance, an organization can become more innovative and creative as before. For example, the recent merger of Microsoft Inc and Skype have bought a new revolution in the technological industry effectively. Now both of these technological companies are now promoting their innovation and are trying to deliver a new technological product or service for their consumers (Tschmuck, 2006). This practice will certainly strengthen the entire function and productivity level of these companies, and it is also required to adopt by other technological companies to have a definite edge over their competitors.
Train for the Creativity
This particular practice is also adhering with the field of Human Resources Management (HRM). Training and Development (T&D) is an important field that strides under the field of HRM. It is a strategy cum practice through which the employees of the company will deliver the options and effectiveness to their companies in particular (Tschmuck, 2006). Every company has training and development section for their employees in which different manners and delivering of work would have been educated them accordingly. The practice to train for creativity is getting its roots strengthens accordingly, and the training for the creativity would be effective. There are certain organizations which train their employees for the future consequences, development and effectiveness, and they can also train their employees to be creative and innovative at the same time. It is one of the most important practices that can be taken into consideration by the technological companies, as it has a win-win situation for both the employees as well as for the companies. In-House training for creativity or for any other purpose would be effective for the companies all over the world, and they are equally important for the technological based companies as well. All of the selected companies have in-house training institutes in their premises.
Creating a Review Process for Innovating Ideas
Every person in this world has a different mindset and thinking ability, which they will use for different purposes in different parts of the world. The capacity of delivering and making new ideas for innovation depends upon the mind capability and thinking ability. In an organization, especially in a technological organization there can be hundreds of employees who think different ideas of creativity and innovation every day, however they have limited resources to implement these ideas, but they the option to share their ideas and creativity with the management of their organization (Tschmuck, 2006). The management will then responsible to review and process the innovation and creative thinking abilities of their employees. This particular aspect is one of the major kinds of motivation, known as intrinsic motivation, because it enhances the working morale and level of satisfaction among the employees in an effective manner. Practicing in this way, organizations may get number of effective and innovative ideas for their future, which then be emerged as an integral thing for their future aspects and consequences
The intervention of management in appreciating the innovative and creative ideas of the employees is an indemnity that the ideas of creativity and innovation have effective values for the companies, and it is equally effective for the future of the employee.
Recruit for Creative Talent
One of the toughest jobs in the world is to recruit a perfect person for an organization (Tschmuck, 2006). The main reason behind this aspect is that organizations have no idea at the end of the day that the person they are hiring will be effective for their company or not. There is a strong relationship found among the recruitment of talent with innovation and creativity (Von Stamm, 2003). One of the best practices that found in the current technological based organizations in all over the world is recruiting the right individual at the right time. Technological companies should make some sort of brainstorming tests from which they can judge the level of competency and capability of the individual they wishes to hire. Recruitment is a lengthy process, and it has numerous elements in it. Finding the creative and innovative talent for the company is an essential for an organization, and the companies who initiate the same thing accordingly are more worthwhile in the end of the day. Apple Inc and Microsoft showed remarkable progress in recruiting the right talent.
Reward Innovation with Engaging Work
In an organization, employees always like to have an upper edge over each other, because this is the only thing that can make a difference among them (Von Stamm & Trifilova, 2009). The most credible, innovative and effective employee of a company would be retaining for a long span of time with a company. There are two different types of motivating the employees of a company, intrinsic and extrinsic motivation. Intrinsic motivation associated with the rewards like appreciation, positive feedbacks and applauses, while extrinsic motivation increases with bonuses, pay raise, perks and other fringe benefits. Both of these kinds of rewards and motivational factors are important for the employees, however for the innovating and creative work, the practice of rewards the employees through extrinsic rewards are very famous in the current scenario. Lots of technological companies of the world are now focusing on this particular strategy to make the things in the favor of the company and get them engage with the work accordingly. The more generous a company is for their employees, the more productive and effective the employees would be for the company, and the generosity will be found from the extrinsic and intrinsic reward recognition.
Conclusion
The entire concept of productivity of an organization has been bifurcated into two different categories, which are for financial well being and non financial well being. It is obvious that whatever an organization does is to attain effectiveness and have effectiveness in their financial competitiveness; however there are some aspects and practices of an organization that usually associated with the non financial competitiveness accordingly. Innovation and Creativity are two important pillars that associated with the products or services of an organization, but don’t have a direct impact with the financial position of the company.
In the current economic scenario, when every company striving hard for sustainability in the industry, there are some companies which are moving towards bringing more innovation and creativity in their products for having a competitive edge. Technological companies are very much towards the same stance, because they has to have a powerful technological behavior from which they can enhance their productivity and have a competitive edge over its competitors. In this assignment, it is required to pen down and analyze the practices which are essential for innovation and creativity. There are three companies have been taken for the case study which are Apple Inc, Samsung and Microsoft. From this entire analysis, it is evaluated critically that there are ten different practices that deem significant for the technological based companies to have innovation and creativity in their products, and catering their consumers in a more productive and effective manner. These practices should be used by all the technological companies to become effective and competitive.
References
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