Innovation To Beat Competition

REFLECTION

Innovation can often be a daunting way of beating the competition in the current competitive world. Since when I was young, I have always wondered how one could outshine other organizations dealing with similar products while still making a profit. After learning about the 4ps of managing innovation, I have realised that competitors could be easily beaten by applying the 4ps innovation model. The model deals with products, process, position, and paradigm innovation. It is evident that all companies must be innovative to stay in business, and that all companies who need to stay longer must adapt to stay innovative all the way.

One of the innovative sections in this model is product innovation. This refers to the changes in the things which an organisation has to offer. Based on this model, I have learned that a firm has to be innovative to always improve its products as well as make them more appealing to customers. For instance, referring to Airbus, which is an international company in the aerospace industry, I have learned that it has become more creative and has manufactured products that cover almost all fields of the market- from personal to the corporate level. Recently, the company has invested in modifying its products like adopting the four-engine aircraft, the double-decker aircraft, and the 853 passenger Airbus A380.

The second section is the process of innovation. This is the changes in the methods under which products are manufactured and delivered. This involves processes like workflow, the hiring of talents, training, and supplying. Being creative enables an organisation to figure out how to always come up with a new and creative way of doing its processes. In the case of the Airbus, the company has manufactured commercially viable semi-automatic airliner and at the same time produced aircraft models of different sizes.

The third P is the position, which refers to the changes in the ways in which products get introduced to the market. Introduction of products to clients and possible buyers in a unique way is important in creating a market and increasing the knowledge of the product in the market. Airbus targets big airlines and countries with improved military purchasing power. This is achieved through participating in shows such as the Paris Air Show at Le Bourget as well as numerous television advertisement and print media. I have learned that with a unique introduction of products to the market, one can beat competition easily.

Continue your journey with our comprehensive guide to Information Systems And Technologies.

Lastly, the fourth P is the paradigms, which are the changes under which business models which make up the organisation. How an organisation does business can be very innovative and motivate customers to purchase more products. For instance, I have learned that Airbus usually delivers its products to buyers at specific locations which have enabled the company to sell more of its products every year.

In conclusion, competition in the market is inevitable and the only way to stand out is to be innovative and creative in all sectors of the organisation. Being innovative, as I have learned in Airbus, can create drastic changes in the way business and production is done. Therefore, increasing profits, which is the ultimate goal of any business, can be efficiently achieved through implementing the 4P’s Innovation Model.