Strategic Management of Business Strategies is The Reason Behind a Successful Innovation

Practically
most of the innovations that we enjoy in our life have been made a
success because of these managers who manage the innovations otherwise
most of them would have been nipped in the bud due to lack of proper
guidance and follow up. First questions that we should ask ourselves is
what is a strategy? Though it is a simple word in general but when
related to business it is the guiding star for the development and
success of a business over a long term resulting in growth of that
organization. It is a planning that takes the company to an advantageous
position by utilizing the proper resources in the form of human or
materials. Simply this is business strategy and the success of an
organization betting on an innovation for the future depends on how well
the strategy is maintained by the strategist or simply the top notch
people in that organization.

A
very good example can be seen in the case of IBM who have in fact got
master strategists guiding the company. It is a grand success because
they have utilized their man power to the fullest and understood the
requirement of the world before anybody else thought about it. The
management organized seminars and invited various business personnel to
understand their requirements. Then they simply sorted out which is the
mot required thing that can be easily introduced in the market for
financial gains of the company. Here lies the brilliance of the
strategists of the company. Sorting out the innovative ideas and to pick
the right one is something which has brought this company in the
limelight and leapfrogged them ahead of its competitors in terms of
financial gains by a long way.

The man who has given the world
the most innovative ideas is Mr.Steve Jobs. Everybody remembers him
because of his innovations which are really grand. But truly nobody
remembers the man behind the curtain who planned and helped him execute
his innovative ideas into a reality. We would all have been deprived of
these brilliant innovations if the strategy taken was a poor one and
then these innovations would have tumbled head over heals. The company
gained a lot and the innovator got the praise he rightly deserved but
the planner never came in front.

So
the fundamental logic that we can derive is that behind all innovations
success lies the hand of a good business strategies. The strategic
management of these strategies convert to financial gains for the
company subsequently leading to more successes and thus strengthening
the backbone of the company.

Building a Successful Brand With a Continuous Innovation Cycle

Innovation is the key to brand success but, it is not limited
to the functional benefits of the brand. A brand that sets the trend
rather than reacting to them is likely to be seen as different and more
popular. What is it about Coca-Cola, Microsoft, Starbucks, Disney, and
McDonald’s that they are a huge success? What makes a consumer buy one
product over another? They have all experienced uncommon success based
on innovation. Building a good brand is more than just creating a logo,
tagline and using a specific color scheme to put on your company’s
packaging, bags and letterheads. Successful branding is more about
building trusting relationships and emotional connections with your
customers.

Enterprises usually tend to promise the best service
or the lowest price, but that’s not enough, because everybody makes
those promises. To make a successful brand, constant innovation is
vital. Brands are among the most important assets that a business can
own, and strong brands can ensure business continuity in times of
difficulty. A brand must relevant to their customers, contemporary and
appealing at every span of time. For this, a company has to constantly
innovate.

Steve Jobs once told a group of employees, “People with
passion can change the world for the better.” To Steve Jobs, people who
buy Apple products are not “consumers.” They are people with hopes,
dreams and ambitions. He builds products to help people achieve their
dreams.

Innovation, very simply put, is a new way of doing things
that result in positive change. Innovation can become an inherent part
of your brand when you think differently about addressing your business
challenges, to beat the competition and stay successful. Branded
innovation is actually incremental and is developed in response to
market opportunities-as people moved from cassette to CD, the Sony
Walkman became the Sony Discman. Kellogg’s launched Nutrigrain to bring
us breakfast in a bar.

Every
company must innovate to steer ahead of the competition and in the
process build a successful brand. Sony has demonstrated an ability to
capture the imagination and enhance people’s lives. It built a
successful brand with continuous innovations. The company has been at
the cutting edge of technology for more than 50 years, and has
positively impacted the way we live. Sony innovations have become part
of mainstream culture, it continues to fuel industry growth with the
sales of innovative Sony products, as well as with the company’s
convergence strategy. Sony has moved with the times and introduced
products like VAIO notebooks that raised the bar in both form and
function; digital cameras that capture pictures on a floppy disk, and
many more.

Enterprises understand that it is important to move
from idea capture to execution of the idea, and with the help of
successful idea management services, it is easier to create a successful
brand.