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Post by patiencedaigle on Mar 9, 2014 17:55:33 GMT -6
I think large businesses are slow in the innovation process because it is a big risk to move away from the thing that works for them. It is a big risk for them to put their money and resources into a new product or service that consumers may not respond to. It is also a big risk for them to display a new product or service because consumers could lose interest in their current product/service. Innovation is necessary but I think a slower pace is best.
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Post by wdeben on Mar 9, 2014 20:10:30 GMT -6
I think he is on to something. JCPenny is company that fits the description of old and not good at innovation. JCPenny tried to innovate and failed now their stock has gone down substantially and they have lost a huge portion of their customer base.
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Post by patrickschwaner on Mar 10, 2014 17:24:52 GMT -6
I don't really have any background information on this subject, so I will just have to accept what the speaker is telling me here. I do kind of find it interesting that the largest companies inevitably become conservative and boring. It will be interesting to see what happens to Apple in the next ten or twenty years as the speaker said.
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Post by jprend on Mar 10, 2014 19:34:31 GMT -6
This is a pretty good video. You would think that a big company would be able to innovate and come up with new things. JCPenny is a good example on how you can fail and there stock fell dramatically. They stick to the products that they are used to and succeed with them. Why change something that has been working for you in the long run. I can say i have no experience with this but this is a great video to use in the workforce and to show others.
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Post by asmith422 on Mar 10, 2014 20:12:00 GMT -6
Large companies become so successful in one field or one specific area that they have stopped being interesting. Staying stagnant in one thing may work for awhile but eventually consumers get bored and move on to the next innovative idea. If companies aren't being innovative and changing, then they won't last in this growing economy.
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Post by arenee1370 on Mar 14, 2014 10:16:26 GMT -6
He talks about why larger companies are not techniquely innovative and it definitely makes sense. It kind of goes back to that old saying of why try to recreate the wheel. They have had so much success with their existing products there is no need to tweak or modify what has worked for years.
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Post by xingboma on Mar 15, 2014 19:46:53 GMT -6
There is a saying in China, small boat is easier to turn around, which means in business world, small companies are usually easier to run because they are less bureaucratic, as there are less hierarchies involved in the organizations, decisions are easier to be made by the upper level management compared to large companies, this is part of the reasons why it is difficult for large companies to become innovative.
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Post by karenwag on Mar 18, 2014 16:52:38 GMT -6
This video was very opinionated. I do not necessarily agree or disagree with Peters. I think that big companies can and do innovate, but not at a rapid pace. Just like with anything else involving big companies, change is a slow slow process. But that is not to say it doesn't happen.
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Post by kaitlyncampbell on Mar 27, 2014 14:21:48 GMT -6
Sometimes innovation isn't the answer because in some cases it is impossible for a business to come up with something completely new. Instead it is a better business decision to buy smaller companies that can contribute to the profit of the company and still maintain stability.
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Post by cfrederic on Apr 6, 2014 22:28:19 GMT -6
As technology changes, it is important that businesses change to fit those technological changes. Using Apple for example, in 2007, the iPhone was released and completely revolutionized the way that phones were used. However, over the years, the iPhone has been labeled as "boring" because it doesn't allow you to have the same freedoms that the Galaxy phones may have. Innovation is key to success but it is also a huge risk to develop and promote something new.
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Post by briandavis1 on Apr 9, 2014 11:48:13 GMT -6
I think the speaker is very negative towards big companies. Companies that are big need to be conservative because the field is always changing and smaller companies are always trying to attack. If you are always innovating you can be prosperous but if you innovate things no one see a need for then you will fail.
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Post by ashleysegalla on Apr 24, 2014 9:52:26 GMT -6
Large companies do not have much innovation. Smaller companies are more likely to hire people to be innovators. Innovative people are more likely to leave big companies and work for small companies. Companies that are big already have something that works for them, so they are less likely to need something new and innovative.
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Post by kourtneyb on Apr 29, 2014 19:54:18 GMT -6
This video was very hard to follow, I assume because of the speaker. He always seems monotone to me. I do believe innovation is very important. I do think it can led to success as well as growth opportunities. I don't think that many companies large or small could remain stagnate and still remain successful. Innovation not only relates to companies I believe it can also relate to personal attributes.
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Post by joshuabrungart on May 2, 2014 16:22:20 GMT -6
I agree with what he says that large companies become more conservative. However I also believe that companies have the opportunity to stay connected with innovation through the ideas of their employees. A company could implement a weekly meeting where managers meet with small groups of diversified employees for them to bounce ideas off each other and the manager could report the best of these ideas weekly to the higher up for review.
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Post by kierras91 on May 6, 2014 11:05:43 GMT -6
Yea the lady doing the interview is not liking this, i am not liking this innovation is like getting your tooth pull. it is not exciting and even painful but in the end or at one point of time it is needed.
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