Benefits of Innovation in International Business
|✅ Paper Type: Free Essay||✅ Subject: Business|
|✅ Wordcount: 2296 words||✅ Published: 26th Sep 2017|
Innovation is important for international business
Innovation must take the reality needs of customers and the possibility of the upcoming big demand or improve as the foundation, or innovation constantly tend to stay in the technology and the ideal level, must come out from the misunderstanding. The base includes the market impetus, market efficiency. Effective embodiment of the new cognition in the market efficiency and the internal and external. Therefore, there is no market, ineffective behavior, can not be attributed to innovation “. Innovation must be effectively communicated with information and market awareness. Innovation has 7 external environmental factors, so that to find the demand, make breakthrough and innovation.
1) Found: for example, the design of Sydney Opera House
2) “Gap between ideal and reality”: MP3 first appeared, music lovers commonly found insufficient memory, unable to meet their enthusiasm for the music, and it is not convenient to move from CD to MP3 format. Then jobs found the customer demand and the actual situation of the gap, we developed IPod, a large capacity, and have the advantages of more functions, and the ITunes platform, simplify the purchase music and then transfer to the MP3 process.
3) Process is simplified to: such as not checked baggage check-in
4) Within the industry market changes: changes in technology innovation or consumer tastes have great influence on the industry and market. Facebook, product Twitter is the advent of the Internet era. Examples of failure: Kodak, Nokia.
5) The change of population structure: such as birth, will establish some related training institutions; aging tends to be serious, open to open some humane, sanatorium high level
6) Change: such as consumers aware of the harm of nicotine, the electronic cigarette is emerging, as the times require.
7) New technology found: R &D — solar water heater solar technology. ï¼ˆDrucker, 1985ï¼‰
Innovation is very important for the global economy, for Coca-Cola Co, to different regions corresponding to different customer groups, innovation has played a role of the market, recently in the Internet that, Coca-Cola Co, launched a new flavor beverage in Romania, as shown in fig:
When it comes to innovation, it is necessary to mention Apple Corp, its slogan “think different” already win support among the people, that is IPod saved apple, before IPod Apple also because no new products enough good once on the brink of collapse. The iPod status is very important for Apple Corp, it can be said that changed the consumption of music market, redefine the music position, now has become a kind of symbol, and even can be used as the information age music generation, comparable to CD, in Europe and the United States, the itunes+ipod model was a huge commercial success. The recently launched iPhone, is also a great impact on the mobile phone market, has shaken the mobile phone Nokia King status, promote the popularity of smart mobile phone, for now China young people, using Apple’s mobile phone is a very cool. Apple’s innovation is the continuous, before doing iMac, people can’t imagine PC machine can be like this; before doing the iPod, people can not imagine a MP3 player can be like this; before doing the iTunes, people can’t imagine online music store is what appearance; before doing the MacBook, people can not imagine a notebook computer can be like this; before doing the iPhone, people can not imagine a mobile phone can have multi touch technology, can be easily combined with iPod, Internet, telephone the three core functions.
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Innovation of Apple Corp is not blindly, Apple Corp in 1997 is very critical moment to bring back Jobs. Jobs was the most important things to do, is to was in the R & D projects cut half, retaining only a few business. His principle is: Focus. Apple in 1996, is the Jobs regression, operating losses of more than $ 1 billion, while the period of Microsoft, you should know, is very strong, the promotion of Windows 95 when the advertising fee took out $ 500 million in market value, the launch of Windows 98 in 99 years, broke through the $ 500 billion. You know, now the apple at its peak, the market value is only just exceeded 500 billion. Microsoft in 10 years ago reached. When apple in the face of such Microsoft, Jobs to allow apple to stand up, must concentrate on can really put ideas into the Project sales of products. Over the years, apple computer, mobile phone, MP3, seemingly flat and so on all production, seems to be very complex, but each field only a product. The gold standard is 97 years Jobs to Apple’s success. Apple has been painful; certainly not recommit the same error. It is the enterprise gene, “It’s very easy to be different, but very difficult to be better.” – Jonathan Ive (Walter, 2011) in fact, if you really pay attention to apple, will find it every year to apply for the registration of patents for many, but most have not become the actual product. This shows that apple is not innovation, innovation is numerous, in the absence of objective environment allows a hot product, not just to liquidation, nature, the public will know nothing at all. Apple pays more attention to individual consumers, all innovation around the reality demand, looks a bit more practical.
After analyzing the Apple Corp as an example, the following from the global economy to illustrate the importance of innovation. This century 50’s end since the early 60’s, with the rapid development of computer industry, the world economy gradually from industrial economy to information economy transition began to appear in information products in international trade. After entering 90 age, modern information network technology is development make a spurt of progress, international trade into an information age, information has become one of the most important factors affecting the twenty-first Century international trade and development. Especially the naissance and rising of electronic commerce and Internet trade, leads to great changes to the operation of international trade. Through the global network of information flow between countries and regions in the world, promoting international trade development to the direction of information technology, but also opens up a new way for the sustainable development of international trade. Electronic Business is a new business model emerged in recent years in the global scope. In recent years, the rapid development of electronic commerce is the inevitable product of the market, financial, economic globalization trend. The use of Internet technology to enterprises, users, suppliers related to trade and business connection to the existing information technology system, completely changed the traditional operation mode and method, is a global information flow can be realized in the field of international trade form. Electronic commerce expanded international trade of space and places, shortens the distance and the time of international trade, simplifies the procedures and process of international trade, the international trade globalization, intelligent, paperless and facilitation, and realized the epoch-making profound changes. According to the China World Trade Center conference estimates, if the use of e-commerce in the global international trade, a year can bring about $1000 billion of revenue, along with the world economic globalization, the whole world import and export trade through electronic commerce will also gradually increase the proportion of. Electronic commerce is a new revolution in the field of international trade. Electronic commerce is the technical foundation of economic globalization, it broke through the countries and regions all kinds of barriers between, make international trade going, caused great changes in the world economy and trade.
First of all, great changes have taken place in the international trade market transactions, the emergence of the “virtual market”. E-commerce through online “virtual” information exchange, opened up a new open, multi-dimensional, three-dimensional space in the market, breaking the traditional market to a certain geographical existence as premise condition, the global information network to link together into a unified “big market”, promoted the formation of the global market in the world economy the. Factors of production flow of information brought capital, goods, technology and other global accelerated flow, promote the rapid development of the global “network economy”. Economic and trade ties and cooperation in countries that trade under the environment of network can be greatly enhanced.
Secondly, great changes have taken place in international trade management main body, the emergence of the “The Virtual Corporation”. The core technology of modern information and communication technology by individual companies have in their professional field, many companies are connected to the company community network, a company can’t bear market function, can be more effective in providing goods and services to the market. The new enterprise organization form does not have the contact force of all the company’s power in the capital, but due to undertake certain information collection processing and transfer function seems to have a certain entity. Strategic alliance of Multi-National Corporation is the main form of the “The Virtual Corporation”, find the resources and alliances through dynamic network combination of the open system, the realization of “virtual operation” to vary from minute to minute economic competition environment and consumer demand for personalized, diversified into development trend, bring about division of labor, complementary advantages, resource reuse, benefit sharing benefits to the Multi-National Corporation.
At present, the development speed of the network trade is speeding up, a huge potential of the emerging market began to form. Can foreknow, trade network in the future in twenty-first Century, will become the trade mode. The trade network objective basis, fundamentally speaking is the great revolution of science and technology development, economic relations between the globalization and integration. Network trade compared with the traditional trade way, basically have the following advantages: (1) the network trade will greatly reduce the transaction costs of both sides. Both parties through the network directly, without the intermediary trade participation, reduce intermediate links of the transaction; the parties involved in the transaction only pay the lower network communication and management costs can be obtained storage, exchange and processing information, save money, reduce cost; the Internet is a global network, in favor of both sides of the transaction to acquire “complete information” on the market, reduce the search cost, reduce transaction uncertainty; direct transmission of electronic documents on the Internet, which saves the production cost of paper documents, but also can shorten the invoice settlement time, accelerate capital turnover, save interest expense. (2) The network trade to improve work efficiency. The existing network technology to achieve the business user standard format (such as contract, bill of lading, invoice etc.) real-time transmission and exchange, the seller and the buyer can remain within doors on the Internet for ordering, negotiation, signing, customs clearance, inspection declaration, shipping, taxes, payment and settlement of the foreign trade business formalities directly, greatly reducing the transaction time, to the whole transaction is very fast and convenient, which led to the relevant departments of finance, customs, transportation, insurance, improve work efficiency. (3) The network trade is beneficial to the enhancement of enterprise competitive position. Companies and manufacturers can apply for registering a domain name, set up their own websites on the Internet, introduces the product, service and propaganda enterprise image by Webpage, expand enterprise well knownness, to open up overseas markets and improve the international competitiveness. In addition, the network trade without time, geographical restrictions, affected by natural conditions, can be “all-weather trade”, the products to the world, increasing trade opportunities, but also contribute to the timely, accurately grasp the market dynamics, closely with business relationships with customers, raise the market competitive position.
So the innovation plays an important role in international business, a company want to better access to benefits, it should make innovation and preparation, the company’s products to meet the consumer’s experience as the main objective, to adapt to the international market trend in the operation of the company itself, the sales model to adapt to the development of science and technology, not the total maintains the inherent mode, do not make innovation, will soon be replaced by the new company.
Drucker, P. F. (1985).The discipline of innovation.Harvard Business Review,63(3), 95-103
Walter,I.(2011).Steve Jobs: A Biography, Simon & Schuster
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