Academic Paper: Causes of Innovations
Causes of Innovations
There are certain causes of innovations, which usually result in the shift in competitive advantage. These causes are:
- Introduction of new technologies
- Emergence of new or shifting buyer needs
- The emergence of a new industry segment
- Changes in the shifting input costs or availability
- Changes in the government regulations (Worth, 1996).
Because of these causes, the firm or company has thus got to come up with a way of implementing the competitive advantage in a strategic manner. Usually, competitive advantage comes about as a result of the manner through which the firms conduct their activities indiscretion. These activities include coming up with new ways to conduct activities, employing new procedures, implementing the new forms of technologies or even coming up with the different inputs. The strategic activities that the company engages in are also very vital. This will enable the company get rid of those trying to copy and imitate its style of operations. Using Porter’s value chain and activity mapping, we are thus able to come up with ways that will make the company’s strategic activities unique to it. This locks out the imitators (Worth, 1996).
To acquire custom writing services, place an order to buy a Custom Academic Paper on Causes of Innovations.