International experience shows constantly, through studies and practical applications, that fostering innovation relies more on strategic planning, research and search for specific data. The development of business strategies would have never been more challenging or more important than in today's competitive environment through which corporate strategies must transcend past limits.
The paper analyzes three case studies. All of them are innovative companies however technology was used as part of their innovation for Easy Jet and Korres, whereas in PARC it was its core business. In the case of the two successful innovators Korres S.A. and Easy Jet, technology dealt with the development of the company’s R&D (Korres), it was used as a facilitator of processes which were the key factor for lowering production costs (Easy Jet) and finally in the case of PARC – Xerox technology was not focused on customer needs.
Table of Contents
- Introduction
- Corporate Strategy – Strategic Planning.
- Business & Successful Innovation ......
- Strategic planning – Technology and disruptive technologies.……………………..
- Successful innovations.
- KORRES S.A..
- EASY JET
- Unsuccessful innovation - Xerox and PARC
- Conclusion......
Objectives and Key Themes
This paper examines the impact of strategic planning on technology and innovation management, focusing on the role of disruptive technologies. It explores the factors contributing to successful and unsuccessful innovation through three case studies: Korres S.A., Easy Jet, and Xerox PARC. The paper aims to identify key elements of strategic planning for successful innovation and highlight the importance of understanding disruptive technologies.
- The importance of strategic planning in fostering innovation.
- The role of technology and disruptive technologies in innovation.
- Characteristics of successful innovators and their strategic approaches.
- The impact of poor planning on innovation outcomes.
- Key elements of successful innovation strategy.
Chapter Summaries
The introduction highlights the growing importance of strategic planning in today's competitive environment, particularly for fostering innovation. It establishes the focus on three case studies: Korres S.A., Easy Jet, and Xerox PARC, which represent both successful and unsuccessful innovation models.
The "Corporate Strategy - Strategic Planning" section emphasizes the connection between strategic thinking, innovation, and operational planning. It explores the mindset of successful innovators, highlighting the importance of innovation as a core element of their strategy. The section also discusses the role of strategic planning in long-term goal setting and implementation.
The "Business & Successful Innovation" section delves into the characteristics of successful innovators, such as financial liquidity, cost management, and customer focus. It emphasizes the importance of strategic alliances, product launch planning, and having dedicated functional teams.
The "Strategic planning – Technology and disruptive technologies" section explores the challenges posed by disruptive technologies and how companies can navigate them. It highlights the importance of continuous learning, market observation, and adapting to new technologies. The section also examines different approaches to dealing with disruptive innovations.
The "Successful innovations" section presents two case studies of successful innovation: Korres S.A. and Easy Jet. It analyzes their strategic focus on innovation, strong organizational alignment, and dedicated leadership. The section also explores the role of R&D and the use of natural ingredients in Korres S.A.'s success.
Keywords
This paper explores key concepts related to strategic planning, technology, innovation, disruptive technologies, successful and unsuccessful innovation, case studies, Korres S.A., Easy Jet, Xerox PARC, R&D, market observation, customer focus, and organizational alignment.
Frequently Asked Questions
How does strategic planning influence innovation?
Fostering innovation relies on strategic planning, research, and data to transcend competitive limits and align R&D with business goals.
What are disruptive technologies?
Disruptive technologies are innovations that significantly alter the way markets or industries operate, often displacing established leaders.
Why did Xerox PARC fail to capitalize on its innovations?
Xerox PARC failed because its technology development was not focused on customer needs or integrated into a successful business strategy.
How did Easy Jet use technology for innovation?
Easy Jet used technology as a facilitator of processes to lower production costs, which was a key factor in its successful business model.
What makes Korres S.A. a successful innovator?
Korres S.A. focused on R&D and natural ingredients, aligning its technical development closely with market trends and organizational goals.
What should companies do to handle disruptive innovations?
Companies should emphasize continuous learning, market observation, and flexibility to adapt their strategic planning to new technological shifts.
- Quote paper
- Fotini Mastroianni (Author), 2012, Technology and innovation. How does the strategic planning process impact the management of technology and innovation and what consideration is given to the impact of disruptive technologies in particular?, Munich, GRIN Verlag, https://www.grin.com/document/351392
