Siemens

             From the rich and well-discussed business strategies that the article
             contains, no one will perhaps disagree with what it says. It is true that
             a continuous innovation is a "growth-driver" to any business. Being able
             to provide customers with new, useful, and innovative products is a
             technique that can make a business win the trust of more consumers.
             Especially in today's business world, where product demands are greater due
             to the increasing number of competitors in the business arena, a continuous
             innovation is one way of putting a company in the line of a healthy
             However, within the objective of maintaining a constant innovation for a
             successful business, one main problem that the article mentioned is
             "innovation gap". Innovation gap refers to the inability of key personnel
             to have a proper collaboration of ideas. The people of a company may have
             good and inventive ideas, however, due to innovation gap, such ideas are
             never realized. In Siemens, a strategy that they used to solve such
             problem is by providing an idea competition; a process where the employees
             were asked to submit their own ideas for new products, systems, processes,
             or services. This strategy is one way of awakening the employees'
             In general, the article has presented compressed but very useful
             information to any type of business. By using Siemens as an example, which
             we all know is a very successful company, the readers of the article can
             learn effective and innovative business strategies.
             ...

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Siemens. (1969, December 31). In MegaEssays.com. Retrieved 23:50, November 13, 2024, from https://www.megaessays.com/viewpaper/201077.html