BY DAY 5
Respond to two or more of your colleagues’ posts in one or more of the following ways:
- Share your thoughts on how innovation played a role at the organization your colleague chose.
- Ask a question or make a further observation about your colleague’s description of the impact of innovation on the company’s growth and/or competitive advantage.
- Offer an alternate perspective on your colleague’s analysis.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you have learned or any insights you have gained as a result of the comments your colleagues made.
Collapse Subdiscussion Madison Ratto
YesterdayNov 15 at 11:42pm
An example of a company that successfully incorporated innovation into its culture and operations is Adobe. Adobe is a computer software company best known for setting the industry-standard for digital media and editing software. Offering programs like Photoshop, Illustrator, and Acrobat to name a few, the company is able to cater to the digital needs of a large, diverse customer base. Adobe is known for continuously anticipating and adapting to new technologies and market demands, securing their long-held spot at the forefront of their industry. As stated by the CEO, “Bold pivots have been a part of Adobe’s DNA [from the beginning],” (Narayan, 2023). Some notable advancements the company has made include utilizing artificial intelligence to improve software functionality, and transitioning to a cloud based subscription service from physical software.
Adobe has been able to repeatedly evolve their software and capture new opportunities within the software market; setting the organization apart from the rest of the competition. As of this year, the organization employees more than 29,000 people and rakes in over $18 billion in annual revenue (Narayan, 2023). The company’s commitment to innovation has enabled it to develop more advanced and creative marketing solutions; introducing cutting edge tools and capabilities. User experience has always aligned with Adobe’s innovation strategy through research and investing in the most intuitive, user-friendly experience. Adobe maintains a customer base that is satisfied and incredibly loyal, contributing to strong market position. The company has also cultivated a culture of innovation by implementing programs and initiatives that empower employees to explore and take creative risks.
YesterdayNov 15 at 10:05pm
The organization I selected for this week’s discussion is one of the Big 4 financial services firm. I have found that management encourages innovation. During my time at the organization, I had the multiple opportunities to present to the partners about innovation, including the use of AI and implementing programs that will benefit the next generation of employees. This has shown me that management is willing to listen to all their employees’ ideas, including interns. Innovation is also present in the projects we conduct for clients. Teams are always looking for new and better ways to complete tasks. Most times, this involves the implementation of new technology, and increases our productivity. (Kappel, n.d.) This has also led to a competitive advantage since we examine our clients’ needs and problems and find solutions for them. (Christensen et al., 2016) At times the implementation of new technology has hindered our performance due to employees not knowing how to use it; but instead of finding another alternative, the firm chooses to invest in training and development.