Innovation, Growth and Change Systems of Products And Services in Organisations

  • Dr. Mercy Ejovwokeoghene OGBARI, Prof. George Uzoma K. CHIMA, Dr. Maxwell Ayodele OLOKUNDUN, Ms. Favour, O. OLAREWAJU

Abstract

Innovation is an intricate and vital requirement for the growth of products and services of organisations. The process of innovation should be holistically and critically looked upon as a series of change in a complex system not only of hardware but also of market environment, production facilities and knowledge and the social contexts of the innovation ventures. This study seeks to investigate diverse innovative mediums of boosting the market of products and services for organisational benefits via leading business models and designs. This paper gives an overview of innovation, products and services. Also, several approaches and models such as the D.I.S.R.U.P.T Model, servitisation, Product service systems, value proposition design and business model innovation techniques were investigated for the advancement of firms. Also, it is impossible to create innovate commodities and utilities without generating sound business ideas and more importantly, knowing the critical imperatives required to pitch such business ideas to prospective business investors and top key personalities. It was concluded that for sustained enterprise changes and sustained growth, strategic business models are needed and must be designed to suit the peculiarity of the concerned company.

Published
2020-08-01
Section
Articles