Innovation management Essay Example | Topics and Well Written Essays - 2500 words

Innovation management - Essay Example Therefore, the following discussion is an analytical approach to denote the various business attributes that ensure that the company ranks as the third most successful company through evaluation of its business strategies and organizational structure to acquire competence, profitability, and clientele value perceptions in the industry. Rationale for the choice of the company Since the early years of the founding, the company has been adapting to the best approaches to ensure the development and strategic production of vehicles that fit different purposes of the consumer rather than the company’s ideology to produce automotive in accordance to its forecasts of the models that will likely sell effectively. The main reasons to choosing Toyota as the best option for the study reflects on accurate execution of strategies to ensure global leadership in production and delivery to the clientele (Rosen, 2007:4). Mainly, perceptions are that the fast company operates a private market se gment on a global platform, and that it is a monopoly, however, the presence of other similar competitors producing cheap priced vehicles for developing economies and the majority middle class of the global society eradicates the notion of monopoly and implements the ideal presence of oligopoly in the market (Azar, Maurer, and Beck, 2010:4). The company establishes long-range plans and strategies and ensures that all the performances in the organization aim at achieving the established framework of executing duties in accordance to the set framework and adapting to the Just-in-time phenomenon, which aims at ascertaining and ensuring continuity in production of at a profitable rate against the competitors (Rafinejad, 2007:125). All departments in the company adapt to performance of duties in accordance to the company’s plans and the idea of motivation serves as intrinsic in stimulating growth as the unified teams engage in positive competence to ensure a continued rate of inno vation and new product development in the company (Hu?Lsmann, and Pfeffermann, 2011:45). Further, Toyota produces almost all-time cheap priced cars but exceeds Ford, which currents survives a $12.5 billion deficit, as GM stocks lag behind at a 10:1 ration in the global stock markets. Other companies like Chrysler, Peugeot, Bavaria Motor Works (BMW) suffer a similar fate of incompetence in execution of their obligations against those of the Toyota Company. Critical analysis Techniques Mainly, Toyota ensures that all the workers understand the importance of undertaking performances that reflect on the company’s long-range objectives and the fact that quality by design and specification is of the essence and poses as a necessity in the multinational corporation. The plans and motivational approaches of the company serve as intrinsic approaches to engaging the personnel into unstoppable performance and worker flexibility. Incorporation of technology serves as the integral in prod uction as the Andon devices regulates and signals employees on faulty production and ensures corrective measures are adapted precisely. The techniques applied in relation to workers to ensure that all jobs are undertaken promptly and in accordance to the specifications, also Toyota regulates approaches to ensure that a

Consumer Perception Essay Example | Topics and Well Written Essays - 750 words

Consumer Perception - Essay Example Advancement and changes have become a part of our lives and world is getting advance day by day as per needs. There have been times when inventions have astonished us as many impossible things have become reality as any dream has become truth. Truth has always seemed as stranger than fiction and science has proved this fact (02whole). Many companies and product ranges have emerged to prove this fact and have benefited our lives. There are certain goods and products which have confronted our perceptions as they seemed unachievable or impossible to create but since technological advancement has taken place, all things have become possible. One such object in my mind is a personal robot that can not only do all the work being fed in its memory but can also predict and pursue human mind. Human perceives that computers and automated devices can only perform tasks which are already fed in the memory of the device but this robot will actually challenge the perception of human mind. I feel it will be unique in a sense that its sensor would have the capability of detecting the prospective future. There are many products which has made lives easier and quicker but the unique feature of this product is to function in a way that future tasks are also expected through the usage of sensors (flicker man made things). People hav e a mind set of getting attracted to things which are designed very well but features of this product will overwhelm the perceptions of all. Such products are made to provide a stage ahead of what people are already using. It is one of those consumer products which is actually conceptualized keeping in mind the mind set and trend adopted by the people since past few years. Consumer products have been evolving from stage to stage and have reached a top level of providing satisfaction to all. This is possible due to survey and research of consumer demands and their likings. Research helps manufacturers and companies to predict what sort of ease and benefit a customer is looking towards from a particular product. However, consumers have always looked for better options for themselves based on satisfaction level and ease. It is very important for a manufacturer to know what features or functions are expected out of its product as the whole activity of creating any product is to provide it with full satisfaction to its potential buyers. Manufacturers need to be cautious as they need to make analysis of what is required by the customer, as any wrong step or decision can make their work gone to rust. One of the important reasons in this regard is that people around the world are of different from each other. Their likings and disliking, their prospect towards things, their choices etc are all different as everybody belongs to different ethnic backgrounds and most of all have different exposures. It is very important to first make segments of the potential market and then to introduce any product in a based on that segmentation. Segmentation helps in dividing the markets based on the needs of cust omers which help the manufacturers to make available those products and goods which are actually required by them. It is also very important fo