Competitive Strategy Creativity and Innovation Management

Question: Discuss about the Competitive Strategy for Creativity and Innovation Management. Answer: Introduction: The Art of General is meaning of Strategos a Greek word. The strategy comes from the Greek word Strategos. The Strategy helps to determine the work and how the work will be proceeded. It is can be defined as a blueprint or master plan and it helps to reach the goal. In the opinion of Durmaz and Ilhan (2015), strategy is the determination of the mind in action. The art Warsignifies who win the battle is a God. Actually strategy of war is not to win the battle. Strategy of war is how to defeat the enemies in battle (Raspin and Terjesen, 2007). In the modern day business organisation has to think about the market, its competitors and sustainability. Hence, it is very difficult for the organisation to survive in this competitive market. For this they have to develop strategies to achieve the desired goal. There are four important factors which need to be taken care of for the entrepreneurs to reach the desired objectives. The four points need to identify the where they want to compete, which unique value they can bring, resources utilization and sustenance of unique value. According to, McCann and McCarren (2012), strategy is something that helps the organisation to sustain in the competitive world. There are several types of strategies in the business. Those strategies are can be long term and short term basis. The Organisation needs to adopt these strategies to sustain the business in long term basis. For example, Microsoft has adopted a long term and short term strategies to get on the basis of customers choices. Microsoft is a global organisation. It is the leading organisation that provides desired services to its customers. Microsoft is the market leader in computer technology industry (www.microsoft.com 2016). Accesibility is the main thing for the modern day customers. It makes easy each and every work. Microsoft with the help of an integrative accessibility strategy has been trying to grow its product and accessible to users by planning, designing, research, testing and development. They are focused on four main strategies. These are Innovation, awareness and leadership, collaboration and accessibility of the products. In the 2015 it achieved the best computer technology provider in the world (www.microsoft.com 2016). It acquired Nokia, Skype and many more. The main strategy of Microft is to make itself accessible to the customers. Microsoft has adopted it strategies on the basis of the diverse needs of the customers. With the help of integrated strategies, Microsoft becomes the leader of the computer software industry. Innovative and unique strategy is the main priority of Microsoft. The unique products of Microsoft are Lumia, Windoows, Xbox, Skype, One Drive and so on. Microsoft is collaborating with a range of organisations like G3ICT to spread the awareness of accessibility of the people (www.microsoft.com 2016). Apart from that new products are developing day by day to meet the customers expectations. Hence it can be said that strategy is the master plan that generates a right path to organisation, Microsft is its best example. Business model innovation Innovation helps the organisation to meet its objectives in the competitive world. For example, Nokia and Kodak has lost their way due to proper innovation. They did not research for innovative products, customer needs and market competition. Now-a-days almost every industry, is growing day by day with the help of its innovative products and services. With the adoption of innovative technology and services organisation can achieve the customers expectations. Innovative business model has been adopted be several organisations Google, Microsoft, Apple, to name a few. Innovation helps to sustain the organisation in a new country because it helps to determine the customers choice, needs and the market conditions (Shih-chung, 2013). For an example, eBay, Amazon, Google all has adopted innovative technologies and service to get the most customers and to sustain in this fast growing world. It is highly important for the innovative business model is to identify the targeted customers of firm , type of products and services, and distinctive value added products. It helps the organisation generate revenue (Bucherer et al. 2012). Also, it is necessary for each and every organisation to make changes the technology and services in regular basis so that it can meet the various expectation of the customers. Ideation, Initiation, Integration and Implementation are the main steps that help to develop innovative business models. For the growth of the organisation, it is essential to integrate the four main steps. For example, Amazon is the leading eCommerce organisation who uses most innovative products and services. Amazon is the market leader in the eCommerce industry. Its service and user friendly technologies have been able to bring reforms (www.amazon.com.au, 2016). In its eCommerece website people can come for shopping and selling products. Variety of products and services has helped to create its huge market base. Almost 90 plus percent innovation of Amazon is less risky. In the opinion of Xavier, innovation consistently generates new technologies and innovative service as it seems innovation is Amozons DNA. According to Baron (2002), online business model adopted by Aamzon is the most impressive and attractive with this model they are the market leader. This model helps Amazon to achieve most customers compared to eBay. Aamzon makes its market open to all and it reaches to the most remote places through its innovative business model (www.amazon.com.au, 2016). Few steps have been taken by Amazon like stop selling low performing products, prepare for low profit margin and so on. These small steps have helped Amazon to increase its revenue and customer base. Amazon is generating its revenues by charging a certain commission to the sellers, for listing and selling their products (www.amazon.com.au, 2016). All these features help the buyers and sellers equally. Cost cutdown and seasonal sale has added more value to the Amazons innovative services. Customers can get more profitable product in low price from Amazon as it is maintained by its customers. Hence, it can be said that initiation, ideation, integration and implementation are the main four steps business model which help to grow the business in the competitive world. References: Durmaz, Y., and Ilhan, A. (2015). Growth Strategies in Businesses and A Theoretical Approach.International Journal of Business and Management,10(4), 210. McCann, J. and McCarren, D. (2012). Emerging market strategy development and implementation. J. for International Business and Entrepreneurship Development, 6(3/4), p.244. Raspin, P. and Terjesen, S. (2007). Strategy making: what have we learned about forecasting the future?. Business Strategy Series, 8(2), pp.116-121. Microsoft (2016)Microsoft official home page. Available at: https://www.microsoft.com/en-au/ (Accessed: 25 August 2016). Shih-chug, L., (2013). Applying Innovative Model and Optimize Business Management for Product Market. journalofdistributionscience, 11(3), pp.13-2 Bucherer, E., Eisert, U. and Gassmann, O. (2012). Towards Systematic Business Model Innovation: Lessons from Product Innovation Management. Creativity and Innovation Management, 21(2), pp.183-198. Baron, D. (2002). Private Ordering on the Internet: The EBay Community of Traders. Business and Politics, 4(3).99-105 Amazon (1996)Literature fiction bestsellers. Available at: https://www.amazon.com.au/ (Accessed: 25 August 2016)