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Marketing Product Innovation Name Institution In the past, numerous organizations whether small or large, have been surviving even with limited innovation and ideation capabilities. In recent world, there are trends that drive the process of innovation. Factors like outsourcing and globalization force organizations to exert efforts to improve it effectiveness ad efficiency (Yang & Tao, 2012: p.
Ideation capabilities relate to organizational and managerial processes for the implementation, selection, identification and stimulation of innovation ideas. According to the results of this study, organizations adapt to distinct approaches to ideation. On the other hand, Sylvie Laforet writes an article by name “A framework of organizational innovation and outcomes in SMEs” to address innovation and its consequences in small and medium-sized enterprises (Stamm, 2005). Sylvie develops a detailed theoretical structure of the innovation’s end results, how it occurs, as well as, its effects on the financial performance of an industry. She focuses on three distinct innovations in addressing the topic of market product innovation. Sylvie states several drivers to innovation in small and middle businesses (Siddike, Amna & Kohda). For instance, quality, business, environment, a desire to succeed and improve working conditions in SMEs drive innovation. As Jennie et al describes the negative consequences of a resultant formalization, Sylvie focuses on the positive impacts of innovation. ...
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