Introduction 

The aim of the research paper is to discuss how innovation should be focusing on the particular applications, mobile devices, social media applications and other similar aspects. The purpose of the paper is to discuss the four innovative companies which are known for using the latest IS/IT for innovation. It will also highlight the impacts of the internal factors and externals factors affecting the IS/IT innovations. In the end of the research paper it will also provide recommendations and guidelines for helping the organization success in their efforts of embarking on using the IS/IT for the innovations.

Body 

 According t the author Thompson,  Jowallah and Cavanagh (2019) innovation is the only mantra to the today’s enterprises. Most of the giant companies have fallen down in the past years just because they have failed to adapt to the new technologies enough quickly. The four examples of the use of IS/IT for innovation are :

Starbucks – In this case the company for the last few decades the company has been investing a huge amount f money in a digital strategy in order to connect the customers through the mobile which is paying off the company significantly (Alwaleed, Huwail and AlMejhem, 2019) . With this process they have managed to reduce the line waiting time, and enabling the customers to order online. The company has implemented new methods of maximizing the quality of the coffee so as by roasting and brewing it in the new machines. With the help of the new technologies which are implemented in Starbucks the company is now able to present new and innovative beverages and products to the family which were never done before. The products which are recently introduced in the company are :

• Teavana Oprah Chai Tea. …
• Teavana Shaken Iced Tea. …
• Fizzi Handcrafted Sodas. …
• Digital Tipping, Shake to Pay or  Mobile Order
• Starbucks Mobile Truck. …
• Evolution Fresh™ Smoothie

IF NO

IF YES

Otis Elevator– This is a 160 year old company which is known to make the safety elevators. Few companies are influenced in doing so at that period of time. In the present day with the help of latest technologies they are building the elevators for the sky high buildings. With the help of new technologies the companies has grown up to more than 20% from the previous year. According to the author Huwail and AlMejhem, (2019) the innovations of the company has given rise to the modern cities in various countries. It has also changed the way the people live. The latest remote based technology elevator system is known to represent one of the first use of big data and predictive analytics in the business.

                    IF NO

IF YES

Procter and Gamble – The company is known to deliver household cleaning products. The company has invested a huge amount of money in understanding its research budget to study the customer mind and implement the technology in its products(Ergunova, Malushko and  Marchuk 2019). Procter and Gamble uses differentiation strategies  as its generic strategy for the competitive advantage. The differentiation involves various types of techniques which are mostly very unique in the business. This makes the company more competitive in its business and its products to attract the target customers. The company is using a special mechanism of locking the cars at the elevators in buildings.

General Electric – In this case the company used to build various types of electric instruments like the toasters and washing machines. But in the present days the company with the help of innovation and technology is manufacturing B2C Applications. The company has implemented intelligent assets technologies in the products where no physical buttons are required. Technologies such as the wind turbines, hand free water treatments technologies which are Zeeward, Evolution series locomotives and making of advanced jet engines are being established by the company. With the help of the innovation strategies the company is making varieties of products which are the leaders in the market. It is thus helping the company to drive growth for the company as well as making it more efficient and productive for its customers.

Almost all the above named companies have earned success while innovating wth the technologies used in the business. Companies have earned high revenues and maximized profit in the long run.   

Internal factors – Few of the internal factors which will affect the organization is that the there will be a huge amount of funding required and investment opportunities to be created for the implementation of the innovation in the IT. Individuals will have to work harder in order to achieve the goals. The management will have to implement new policies and development plans to achieve the target set by the company (Huang, Yang and Wong  2016)  

External factors –  The company will be able to capture the market and build good customer relationships. The industry will be able to achieve a high amount of growth. Social innovations are the new social practices which will be implemented by the company to better meet the expectations and existing solutions. With the help of the innovation in the technologies the company will be able to meet the social factors which are associated with the implementation of the strategies. The company will be able to creae a better working condition for the employees, they will help the educational service provided by the company to the needy. It will also help in building the community development or the health of the workers who are working for the company. According to the author Moutinho and Vargas-Sanchez (2018)  these ideas are created with the goal of extending and strengthening the civil society of the company. Innovation is also a must and essential for the sustainable growth and economic development of the company in which it is implemented. Several core concepts which enables the innovations and encourage the economic growth are growth, employment and innovation level which will be taking the company to regional and national level. According to the author the innovation is very important to create and generate a value for the company.

One blockage that gains little attention is the extent to which an organization’s own internal politics can conspire against it and sabotage the creative process. Power, politics and innovation are uneasy bedfellows.

According to the author Moutinho and Vargas-Sanchez (2018) wrong implementations can also lead to failure for the company. the four key elements which should be kept in mind before implementing innovations strategies are collaboration with the IT companies, ideation, implementation and value creation. In most of the cases the companies which are leading themselves among the competitors have kept a pace with the innovative ideas of implementing the present technologies available. However in the modern era the meaning of innovation is creating new idea through the creative thoughts of the research and development and new imaginations. However few of the companies often viewed the application of better solutions in order to meet the new requirements in the existing market and gain a power of hold among the competitors.

Recommendations 

This part of the research paper will recommend the ways which will be helping the company to succeed in their efforts of embarking the use of IS/IT for innovations. The top management has to treat the employees with respect in order to cope up with the changes in the working procedures. According to the authors Oshri, Kotlarsky and Gerbasi  (2015) unlike the stocks, capital, and other in animated resources such as the human resource is not expandable in the market. Respect should be at the core of the business. Adopting greater flexibility and proving them  proper training for the use of latest technologies should be must for the business organizations.

Conclusions

In order to conclude the above research paper it can be said that the paper has discussed how innovation should be focusing on the particular applications, mobile devices, social media applications and other similar aspects.  The paper has also discussed the four innovative companies which are known for using the latest IS/IT for innovation Hammarfjor and Roxenhall (2017). It has further added recommendations and guidelines for helping the organization success in their efforts of embarking on using the IS/IT for the innovations.

References

Alwaleed, N., Al Huwail, N.H., Singh, S. and AlMejhem, A., 2019. A Case Study on STARBUCKS. Journal of the community development in Asia, 2(2).

Ergunova, O.T., Lizunkov, V.G., Malushko, E.Y., Marchuk, V.I. and Ignatenko, A.Y., 2017, February. Forming system of strategic innovation management at high-tech engineering enterprises. In IOP Conference Series: Materials Science and Engineering (Vol. 177, No. 1, p. 012046). IOP Publishing.

Hammarfjord, M.O. and Roxenhall, T., 2017. The relationships between network commitment, antecedents, and innovation in strategic innovation networks. International Journal of Innovation Management, 21(04), p.1750037.

Huang, Y.C., Yang, M.L. and Wong, Y.J., 2016. The effect of internal factors and family influence on firms’ adoption of green product innovation. Management Research Review, 39(10), pp.1167-1198.

Moutinho, L. and Vargas-Sanchez, A. eds., 2018. Strategic Management in Tourism, CABI Tourism Texts. Cabi.

Oshri, I., Kotlarsky, J. and Gerbasi, A., 2015. Strategic innovation through outsourcing: the role of relational and contractual governance. The Journal of Strategic Information Systems, 24(3), pp.203-216.

Shams, S.R., Vrontis, D., Weber, Y. and Tsoukatos, E., 2018. An integrated cross-functional model of strategic innovation management in business: The implications of ten cross-functional business areas. In Business Models for Strategic Innovation (pp. 176-187). Routledge.

Thompson, K., Jowallah, R. and Cavanagh, T.B., 2019. “Solve the Big Problems”: Leading Through Strategic Innovation in Blended Teaching and Learning. In Technology Leadership for Innovation in Higher Education (pp. 26-48). IGI Global