MANAGEMENT ECONOMICS
February 26, 2022
RECRUITMENT & SELECTION
February 26, 2022
Introduction
An Innovation is a conception that has been modified into real facts. It is required for a business’s growth; to solve complicated problems suffered by society, and simplify everyday life. Innovation is the practical creation of ideas that result in the preamble of new goods and services or increment in offering goods or services. It is a multi-step process through organizations that modify ideas into improved products, services, or processes, with the purpose of an advanced approach and differentiate themselves successfully in their marketplace.
Enterprise means to convey features of production together, appoint each of them a proper task, and pay them compensation when the work is done. A person who handles all this work is known as the organizer or an entrepreneur. It signifies not only running the business but also bearing the loss if any.
Adidas is a German shoe, clothing, and Garment Company that also possess Reebok, Taylor Made, and Rockport. Adidas is the biggest sportswear company in Europe. Adidas was established in 1924 by Adolf Dassler, but it did not have a perfectly registered company until 1940.
An overview on innovation within organizations
Organizational innovation can be defined as the creation of something new, for example; conception, creation, service, technology, process, and strategy to an organization. Through organizational innovation, the world’s most innovative companies have mostly created structures that remove structural obstacles. They have founded an innovation culture and development i.e. process improvement and incremental innovation including disruptive innovation and digitalization (Rodríguez et al., 2019).
Adi Dassler, the establisher of Adidas, tries to improve athletes better. Therefore at Adidas, innovation is at the centre of all their products. The two important ways of innovation are the choices of materials and how they are manufactured, which their innovation teams can influence the environmental remains of their products, for example; Avoiding oil-based plastic helps reduce carbon issues. Thinner material’s purpose is less waste and less embedded carbon.
The importance of developing personal innovation skills
Innovation skills have the power to split routine for employees, consequently adding to their perception of accomplishment along with a perception of fulfilment (Nakano and Wechsler, 2018). Such ways to make work more fascinating often become the reason behind having new and out-of-the-box ideas on one’s table.
Adidas Company, know that their employees are important to their accomplishments. The Adidas group has more than 62,000employees worldwide, half of them are in retail. The most important priorities for Adidas have always been workforce development and skills training, which for years spent its learning specific fund and resources impressive designing, various inventories, engage employees. The inventories have focused on a classroom format, where employees short-listed in a range of programmers absorbed in behavioural and job-related training.
Review of existing literature and models and their Pros and Cons
A literate review is a desktop-based exploration of others’ projects and initiatives that can be instructed and guide the need for a project, as well as supports a foundation for the work to be assured (Javaid and Haleem, 2019). The review should recognize, what identical work has been done and what does not so that they do not have to re-invent the process. The review must have perfect ideas to instruct the need for a project and the design of the project.
Pros
Adidas implements its innovation to develop new ideas every year, to continue with the changing taste of customers. Adidas is a powerful brand, without any confusion. Alongside others, this organization is one of the fabulous sportswear brands prestigious in every corner of the world. These company products are connected with being fashionable and reasonable high quality. The main purpose of this organization is to satisfy their customers and fulfil their needs and be a leading athletic brand worldwide.
Cons
As for the cons point, there are so many challenges are producing a product with the similar concept of Adidas products and produced with the same materials and a reasonable solution for the organization is to produce its own material.
They charge high prices for their products, which has renegade low-income consumers. Only a high class of people or high range of income of sources group of customers can afford their brands.
How to develop innovators within organizations
Innovation is necessary for the growth and development of any company. Innovative organizations indeed spend so many hours developing an approach to creative thinking in their employees so that they can develop new ideas (Najafi et al., 2018).
Business strategy has played a very significant role in the growth and development of any market-leading brand. In today’s world, the business place is very competitive and every organization needs a strong business strategy. Changes happen suddenly in the business world.
Adidas has used a multi-purpose strategy for receiving faster growth. Apart from looking at high technology efficiency through funding in digital technology, the brand has concentrated on operational productivity.
“The quality of the presentation, the structure and level of referencing within the individual notes”
Adidas is constantly modifying its products by creating a culture of innovation and vision. Innovation is at the centre of all their products and this organization’s (Adidas) model mostly concentrates on creating innovative products designed to fulfil the customer needs (Biemans and Griffin, 2018). The united level strategy of Adidas, concentrates more on innovation, trying to initiate new products and producers to accept the competition. This organization has given more focus on faster product creation and manufacture and also continuously developing their infrastructure, process, and systems.
Conclusion
It can be concluded from the outcome of the report that Adidas has been capable to improve itself and to do progress to remain in the competitive market. The retail sector of sportswear is extremely competitive and they need to work with the help of new innovative ideas to work towards achieving the objective and perspective of the brand. The organization of Adidas has implemented a very elegant and definite set of various existing literature. Despite that, Adidas’s employees have to continue their innovative ideas and they need to keep adapting to the changing needs of the employees. Further, it is still the biggest manufacturing organization worldwide in Geographical reach and aspect.
References
Rodríguez-García, M., Guijarro-García, M. and Carrilero-Castillo, A., 2019. An overview of ecopreneurship, eco-innovation, and the ecological sector. Sustainability, 11(10), p.2909.
Nakano, T.D.C. and Wechsler, S.M., 2018. Creativity and innovation: Skills for the 21st Century. Estudos de Psicologia (Campinas), 35(3), pp.237-246.
Javaid, M. and Haleem, A., 2019. Current status and applications of additive manufacturing in dentistry: A literature-based review. Journal of oral biology and craniofacial research, 9(3), pp.179-185.
Najafi-Tavani, S., Najafi-Tavani, Z., Naudé, P., Oghazi, P. and Zeynaloo, E., 2018. How collaborative innovation networks affect new product performance: Product innovation capability, process innovation capability, and absorptive capacity. Industrial marketing management, 73, pp.193-205.
Biemans, W. and Griffin, A., 2018. Innovation practices of B2B manufacturers and service providers: Are they really different?. Industrial Marketing Management, 75, pp.112-124.
