Many organizations encourage and uphold innovation with the aim of developing products and services that satisfy the needs of their customers. Innovations impact their strategies, processes, products and services. This document discusses the impacts of innovation on Google, Unilever and Barclays bank’s products, services, strategy and processes.
Google has been in the front in information technology innovations. This has greatly impacted its strategy, processes, products and services. Google’s aim of being the leading internet service provider company is evident through its innovations. The company’s innovations have made it one of the top five internet companies (Boulton, 2012). This is in line with its strategic objective of diversification and innovation.
The Company’s innovation has impacted its processes; when recruiting employees, for example, it picks them not by their level of education, but their abilities and talents. This is to encourage innovation. It allows employees to spend a fraction of their time to work on their visions. This builds the foundation for new ideas that can benefit the company. Innovation enables Google to release its products in the market before its competitors. This makes it collect views of customers and perfect the ideas to meet the needs of users. Whereas many companies implement processes that make them get a lot of profits, Google’s innovation ensures that its processes create products that satisfy customers’ needs but not the amount of money the product is to bring.
Innovation has enabled Google to develop variety of products and services. It has diversified its products and services to satisfy various needs of customers. They include Search Engine, Cloud Computing, Google Advertising, Gtalk, Gmail, Google Earth, etc.
Innovation at Unilever has made it diversify the products and services it provides customers to satisfy their needs. It provides customers with products characterized by unique tastes, functionalities and appearances. The products include food and household goods such as rexona, closeup, lipton iced tea, and knorr stockpot. Its strong product, home care and personal care brands are the results of its innovation. This has made it have a wide market base and receive good revenue. Innovation has also made it collaborate with other firms with same ideas and expand its business in many countries globally.
Innovation made Unilever share its research projects with the public. This was done by developing a technology that would enable researchers to provide their views on the best ways to solve its technical problems to achieve its ambitions. Moreover, innovation has led to the creation of Unilever Innovation Process Management which is involved in training employees on leadership, marketing, project management and creativity. It has also impacted its management processes. Members of staff, in charge of innovation in different locations, are connected by application software that enables them to work together. The senior management helps them by managing and allocating the required resources.
Innovation has greatly impacted Barclays bank’s processes. Through online banking, customers do not have to waste a lot of time queuing to bank over the counter. They do all their transactions, including balance inquiry, statement retrieval and money transfers through the internet. Being the first bank to develop free software that protects customers’ banking information, it attracted many customers, most of whom opted for the online banking process.
Barclays bank’s innovations have led to the development of many products and services to satisfy the needs of customers. They include contactless-enabled debit cards, free ATM cards, and customers reward for their green purchasing decisions. Products and services, such as cheques deposits, which once took some weeks to mature, nowadays take only few days to process. This means that innovation have led to faster delivery of products and services.
The bank’s strategy of developing a universal banking model that offers their customers and clients with the best services has been positively impacted by its innovation. It’s continued innovations in its products and services, such as online banking, provides customers with fast, secure, and reliable services. Customers can bank anywhere and anytime. In addition, its quest to operate profitably throughout crisis is enhanced by innovation; the unique services it offers to clients and customers make it get good profits even at times of financial difficulties.
Innovation enables organizations to provide customers with a variety of products and services that satisfy needs. It also makes the organizations’ processes fast and efficient.
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