Innovation

Planning for Innovation
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Planning for Innovation
Systemic and meaningful innovation relies on the effective management of resources. Some of the resources that require proper management in planning innovation include people, money, and equipment. The people offer the talent necessary to bring about improvement in the organization. Thus, it is essential to create an environment that encourages the development of talent and creativity. Money on the other side is vital to funding the innovation processes. Efficient management of expenses would ensure there is room for purposeful advancement. Lastly, it is crucial to have the necessary equipment for promotion of creativity and modernization, for example, technologies to support innovation (White & Bruton, 2007).
The resources necessary for product and process innovation are different. In product improvement, the organization needs to look into the items used in making the merchandise and the necessary changes. In that case, there can be an addition or subtraction of raw materials needed for the product or the creation of something new. Process changes on the other hand require the transformation of the steps in conducting various operations. In such a case, there can be the inclusion of a new technology for process enhancement (White & Bruton, 2007). Thus, the resources mix for product and process innovation vary due to the diversity in complexities involved.
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