P&G Innovation Techniques

867 word (3 pages) essay in Business

13/09/17 Business Reference this

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  1. BUSINESS SITUATIONS

1a) P&G, a global co-orporation focus on the situation of building innovative in order to meet wider business objective and maintaining its competitive advantages over others in fast changing environment which can attract the capital and talent required. Its takes the responsibility to improve the lives of the consumers and employees as well as serves the community in which they live and work.

2a) Sony focus on exploiting potential of emerging market segments in digital technology. It wishes to identify and translate digitally literate consumer dreams into unique and fun products.

2a) P&G focuses on innovation strategies in order to get competitive advantages in fast changing market.

  • It has reconstructed the organization to accelerate creation of new products, speeding up decision making and developing business.
  • It has removed the barrier that hold employees back in expressing their ideas, so that they can go beyond accepted ideas, generate new to satisfy customer’s need. This leads to more work satisfaction and encourages employees to make fuller use of their skills.
  • P&G investment in research and development has provided in with competitive edge to break through new technology and opportunities in order to satisfy wider customer need. Result, currently it holds 25000 patents worldwide and launching more products
  • It practice development strategy helped in technology transfer leads to link each business unit in product development. And productivity is the core strength for P&G.
  • It also focuses on customer’s need & concerns. For example, in India it contributes towards the cause of education of under-privileged children and this encourages customers to contribute which increase the market of the products.

2b) Outcomes

  • P&G successfully developed innovative culture that contributes to new product development and it starts from the salesmen who are in strong position to understand the costumer’s need.
  • Its development strategy helped to develop and transfer technologies and bring new product in market.
  • It helped P&G to become successful in global business.
  • It has channelized the energy of staff to think beyond accepted idea and make fuller use of their skills.
  • It helped P&G to get competitive edge over others.

2c) Concept of Digital Dream kids.

  • Central corporate strategy

Its market research focused on developing products that realize consumer dreams leads to creation of new markets for these products

  • Earth conscious approach

Designed to use fewer national resources in production, operation and in line with overall corporate mission statement . It encouraged the company to look for new materials and bionic processes for its products.

  • Sony’s Video Audio Integrated operation (VAIO) strategy

Sony focus that all the products brought to market place will not only be compatible with each other, but that in time, can become one.

  • Adoption of horizontal structure rather than Vertical in order to speed up decision making and market responsiveness.
  • Continuous improvement i.e. Kaizen which helps Sony to become proactive force.

2d) Outcomes

  • Digital dream kids helps Sony to develop products satisfying consumer dreams that create new market.
  • VIAO strategy lead to series of business alliances and partnerships with both computer and broadcasting companies, thus strengthening Sony position in Digital market with increasing connectivity and flexibility within its products.
  • Digital dream kids help Sony to have competitive advantage without spending much on promotion.
  • Kaizen helps Sony to build strong brand image by introducing continuously better product.
  • Sony value chain concept of continuous improvement from Distributer to consumer helped Sony to become a proactive force in digital market.

COMPARE AND CONTRAST THE INNOVATION TECHNIQUES OF BOTH BUSINESS.

Both focus on innovation and creativity

  1. P&G restructured itself in order to accelerate creation of new products , speed up decision making , set goals and stretch targets for developing the business and provide rewards for those who do so. While Sony adopted horizontal organizational structure to speed up decision making and responsiveness.
  2. P&G innovation strategy focus on developing organization that can think beyond existing ideas to exploit full potential of employees while Sony innovation strategy focused on training consumers digital dreams into products.
  3. P&G proactive development involves making connection between countries, across product ranges, through different markets and by transferring technologies used from one product range to another. While Sony’s Video Audio Integrated operations (VAIO) strategy, making its product compatible with each other in greater flexibility.
  4. P&G innovation is more focused at individual employee level. While Sony innovation is focused at market and organizational level.
  5. Sony value chain policy of continuous improvement focus is from factory right to the retailer and customers While P&G technology transfer focus on linking markets as well as activities of is units.

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