MGM102H5 Lecture Notes - Lecture 3: Corporate Social Responsibility, Disruptive Innovation, Deductive Reasoning
Document Summary
Often organizations are trying to change just for the sake of change. Can be new products, processes, business models etc. Can innovate towards corporate social responsibility by working with aid associations, as coca-cola does in transporting medicine with their shipments to isolated areas. Innovation can also use current products for new purposes (pay with phone) Innovations need to solve a problem, make something better. Need to know how innovation fits into your organization"s strategic plan. Don"t need to be massive game-changing technology, can be little adjustments, add up. More innovation leads to greater/stronger completion, faster/larger changes. Need to be flexible to adapt; need to be more innovative to just keep up. Some industries more stable, some all about change. Auctions to online to quibids; sell for very cheap but all bids are paying (penny=60 cents) Winner gets for very cheap, everyone else loses, company wins.
