Management of Technological Innovation Competitors †Free Samples

Question: Discuss about the Management of Technological Innovation Competitors. Answer: Introduction Nike is a multinational corporation in America and is typically incorporated in the manufacture, design, development and the marketing of the accessories, equipments, apparel and footwear (Nesta, Vona and Nicolli 2014). The paper clearly outlines the internal research and development within the organization. It also brings out the concept of customers as a source of innovation, in addition to the suppliers, competitors and complementors. Finally, the paper brings to light the radical and incremental innovation. The source of innovation also lies within the internal research and development. The internal research comprises of the basic as well as the applied research. The research conducted on the agility of the basketball players. They found that agility requires physical strength and mental quickness (Baker, Grinstein and Harmancioglu 2016). They found that the footwear aligns the athletes body in such a position that the athlete can apply force on the ground so as to change direction. Thus, the footwear was incorporated with wedges as it posses the potential to reduce the ankle inversion angle so as to move the ankle into neutral alignment (Jin and Cedrola 2017). Thus, the current technology led to the innovation of banked footwear as the current technology. This footwear facilitates cutting in only one direction. The company combines the demands and views of the customers also incorporating the feedbacks of the athletes, thus leading to the innovation of new products (Leavy 2017). The organization heeds to the demands and requirements of the consumers that is the athletes and device new innovative products so as to meet their needs. The Nike Hyperadapt was innovated on customer demand as it provides ultimate solution to individual idiosyncrasies. Researchers often state the users of the product often function as innovator as they can create the prototypes and also customize their own product. Suppliers, Competitors and Complementors as source of innovations The researchers states that the suppliers act as the roots to the innovation. Moreover, for the production of high quality products suppliers are extremely essential (Aghion et al., 2014). For example the Nike Air Vapormax as it provides the cushioning effect. Furthermore the enhanced collaboration of the organization with the suppliers helps maintain the innovation process. The competitors act as source of innovation as the competitive companies tends to provide the best quality products (Bouncken, Pesch and Ratzmann 2016). For example Nike Zoom Superfly Flyknit. The competitive companies provide the scope for learning new strategies and techniques so as to facilitate the development of the new products such as Nike Air Zoom KD9 (Mantovani and Ruiz-Aliseda 2015). It also enhances the capacity to learn and innovate. The complementors also act as a source to innovation as they sell the similar products thus; certain innovation is required for high sales which ultimately lead to innova tion. The consultant of Nike aims at providing the best possible solution so as to facilitate the efficient and effective delivery of the product such as Nike Mercurial Superfly. Moreover, they also tend to maintain the effective relationship with the leading Information Technology (IT) vendors so as to utilize IT as a significant tool for the business to thrive (Bianchi et al., 2016). The organization thus, is trying to incorporate IT in field of footwares and apparels so as to deliver the product on time and with high quality (Knik, Medoff and Mukherjee 2015). The technological innovations are essential for the organization so as to sustain the growth of the productivity and competitive advantage. In other words the technological innovations create product related threats in the market giving rose to technological spillover such as the Nike Lunarepic Flyknit. Moreover, it also gives rise to market share reallocation (Truong, Jongwanich and Ramstetter 2015). Furthermore, it also provides competitive advantage and there by paves a way for the innovation of new products. The Nike Company implements the technique of incremental change as, it involves techniques to improve and upgrade the existing product rather than making radical changes. It is basically focused on upgrading the existing products such as the banked shoes to increase the agility support to the athletes, thus increasing the efficiency; competitive differentiation and productivity of the product such as the anti clog traction that would prevent the mud from sticking in the sole through adaptive polymer. Conclusion Thus, with the above discussion it can be concluded that there are various techniques implemented by the Nike Company to lead to innovation. It considers research and development as a source of innovation. Moreover, the company considers the customers as a major source of innovation as they are interlinked. There are other factors as well on which the innovation of the firm depends such as competition and complementors. However, the company implements incremental changes for further development and innovation of new products. Reference Aghion, P., Bechtold, S., Cassar, L. and Herz, H., 2014.The causal effects of competition on innovation: Experimental evidence(No. w19987). National Bureau of Economic Research. Baker, W.E., Grinstein, A. and Harmancioglu, N., 2016. Whose innovation performance benefits more from external networks: entrepreneurial or conservative firms?.Journal of Product Innovation Management,33(1), pp.104-120. Bianchi, M., Croce, A., Dell'Era, C., Di Benedetto, C.A. and Frattini, F., 2016. Organizing for inbound open innovation: how external consultants and a dedicated RD unit influence product innovation performance.Journal of Product Innovation Management,33(4), pp.492-510. Bouncken, R.B., Pesch, R. and Ratzmann, M., 2016, January. Squeeze the Lemon? Suppliers Innovation Under the Rule of Buyer Firms. InAcademy of Management Proceedings(Vol. 2016, No. 1, p. 14209). Academy of Management. Jin, B. and Cedrola, E. eds., 2017.Product Innovation in the Global Fashion Industry. Springer. Knik, T., Medoff, Y. and Mukherjee, R., 2015, July. Interactive search with contextual navigation recommendations. InProceedings of the 2015 International Conference on Constraints and Preferences for Configuration and Recommendation and Intelligent Techniques for Web Personalization-Volume 1440(pp. 8-11). CEUR-WS. org. Leavy, B., 2017. Customer-centered innovation: improving the odds for success.Strategy Leadership,45(2), pp.3-11. Mantovani, A. and Ruiz-Aliseda, F., 2015. Equilibrium innovation ecosystems: the dark side of collaborating with complementors.Management Science,62(2), pp.534-549. Nesta, L., Vona, F. and Nicolli, F., 2014. Environmental policies, competition and innovation in renewable energy.Journal of Environmental Economics and Management,67(3), pp.396-411. Truong, T.N.T., Jongwanich, J. and Ramstetter, E.D., 2015. Productivity spillovers from foreign multinationals and trade protection: firm?level analysis of Vietnamese manufacturing.Asian?Pacific Economic Literature,29(2), pp.30-46.