“Innovation is a process that involves the act of introducing something new.”[1] (A Cross – Disciplinary Primer on The Meaning of Principles of Innovation, 2013) Doblin extends this definition of innovation to 10 types. He believed that innovating individuals or firms do not limit themselves to one type of innovation rather they try to look for creative ways of innovating. According to Doblin’s innovative framework model innovations can be classified into 10 types – profit model, network, structure, process, product performance, product system, service, channel, brand and customer engagement. Profit model is how the organization earns its revenues. Doblin believes that in today’s competitive business environment there is a need to bring dramatic …show more content…
It is the way in which a company organizes its assets and personnel’s talents. A perfect combination of these two elements enables a firm to come up with innovative products. Fourthly, processes are the work methods used by an organization to carry out their operations. Product performance are features that differentiate a company’s products from its competitors. Product system are the complementary products offered with a specific good. For instance, Apple offers Apple Watch that does not require the customer to carry their cellphones. Service is how an organizations services its customers. For instance, providing a 24 hour customer care service. Channel is how a firm distributes the products to its clients. The brand element is about how a firm markets the benefits of its offerings. Lastly, customer engagement is the environment that a company provides to its clients in order to enhance their overall experience of using a product. Every organization has to ensure that the employees engage in its innovation strategy and take all changes with a positive mindset. The four elements needed for effective implementation of an innovation strategy are – Leadership, Engagement, Extension and Alignment. Leadership is the formation of …show more content…
Innovation at GE Aviation’s Services range from the production of turbo supercharger to the most powerful commercial jet engine. Today, the firm is the largest provider of jet engines. The products developed under the firm’s innovation strategy include – America’s First Jet Engine, Historic Military Engine, Commercial Engines and Marine & Industrial Gas Turbines. GE’s most recent innovative product includes the development of the world’s most powerful jet engine. In 2007, GE started offering flight management systems and electric power management to customers. In terms of acquiring leadership characteristics GE Aviation Services has also expanded in the Middle East. Emirates signed a 12 year agreement for the maintenance of its engines. As the firm keeps on expanding it has acquired over the aviation industry. David L. Joyce is the president and CEO at GE Aviation. He leads the firm to effective manufacturing of aviation