Innovation Strategy Model Of Sony
Explain in detail the innovation strategy model of Sony. Then, illustrate your points to reflect how Sony’s innovation strategy model looks like.
The threat of new entry affects the Sony’s sales and making it to suffer intense competition within the same market share with other competitors. Therefore, an effective innovation strategy model is needed to facilitate the product development activity and assist the organization to maintain and even increase its revenue.
There are four stages of innovation strategy included which are reviewing of investment plan, investment on the R&D department constantly to encourage invention spirit, undergoes series of beta testing toward every new invention, select the best invent and commercialize it.
Sony starts up its innovation plan with reviewing the investment plans from development department and selects the most valuable investment plan. The criteria of investment plan include the creative invention, high possibility of success of new invention, new product must meet the market requirement with fundamental data proven, high rate of return, industry applicable and environmental friendly. Those criteria must be fulfilled in order to start a research and development of new …show more content…
New approaches are taken for conducting the experiment. External and internal idea and suggestion are willing to be taken by Heinz in development of product. The new culture of Heinz will be practiced slowly so the employees can understand the new way of doing things and thinking.
In Heinz, their employees have no self-confident when facing the change that is occurring within the organization. Other than that, a few barriers were realized by Heinz which are low prioritization amongst senior management, difficulty in generating new idea from the middle and lower class employees, not brave enough to take risks, failure in transferring of ideas into reality, narrow financial target and feels that organization is fail to listen to consumer. Heinz’s innovation culture encourages the generation of new idea from the upper to lower company groups or teams. This culture allows the exchange of ideas and views between subordinate and superior in brainstorming session and end up with the best idea after a series of discussion. Employees will feel contented when their ideas are accepted and having initiative to work for the implementation of new idea together with top management. It will also strengthen the bond between the employees and that could help in strengthen the teamwork while doing their