Innovation - the route to winning
A Department of Trade and Industry case study

Page 1: Introduction

The business world is a moving target. It has changed rapidly over the last 20 years and is continuing to do so at an accelerating rate. Think of all the new industries which have developed in your lifetime - video and computer games, biotechnology, mobile telephones - all of these new products and services have developed because the technology was there and the consumer wanted it.This has not...
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Page 2: What is innovation?

Have you helped to run a Young Enterprise Company or had any work experience? Think about the shops you go to, the forms of transport you use, and the products found in your home. Which of these do you consider to be innovative and which are not? Consider what makes something innovative.You may well have described as innovative the goods and services which most closely serve your particular needs...
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Page 3: Innovative people

Innovative organisations see all of their employees as a key resource. Such organisations provide every individual with an opportunity for training and continuous personal and professional development, and have a culture which enables all employees to make a contribution to the success of the company and to achieve personal fulfilment.Innovative companies usually have a flat management...
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Page 4: Knowing customers

Customers are the focal point of an innovative organisation. Organisations today realise that they cannot compete on the basis of their products and prices alone. Satisfying customer needs has become the major tool used by innovative organisations to compete in the rapidly changing markets of the 1990s and 21st century. In many cases a key requirement is to know the customer and the marketplace...
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Page 5: Stoves Ltd

Stoves Ltd 'The first thing you need to start a new company is a clear strategic plan and vision.' John Crathorne, managing director and CEO of Stoves Ltd (producers of cookers and hobs) is quite specific about what he and his colleagues wanted to achieve through their management buy-in in May 1989. 'We wanted to create a quality company which was capable of satisfying consumer needs in a...
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Page 6: Conclusion

This brief study has been designed to show the role of innovation in securing a firm foundation for competitive achievements. Innovation has assumed an important role for managers in helping them to improve their organisation's competitiveness. The key message is that businesses must aim to win, with the right people and the right product, delivered at the right price, on time and supported with a...
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