The Significance of Integrating Product Innovation in Increasing Business Competition
Ajimati, Matthew Oladeji (2012)
Savonia-ammattikorkeakoulu
2012
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201205219025
https://urn.fi/URN:NBN:fi:amk-201205219025
Tiivistelmä
The surge of product innovation is very crucial to business organisation because of its importance
in enabling organisational competence and competitiveness in market competition. Based on this,
the thesis study was to show why it is highly relevant as a driver of business performance and as a
key indicator of competitive advantage strategy for business growth. The research also provide
guidance on how firms can adopt and develop innovativeness and be aware of its market
environment. The study was therefore carried-out purely on researcher's interest in understanding
how product innovation could impact the competitiveness and success of a company. It will also
serve as a roadmap for researcher's future business development.
The use of qualitative and explorative research is implemented to obtain necessary thereotical
(secondary) knowledge to support this research, coupled with primary information obtained by the
personal/indepth interviews survey conducted with the case company, MHG Systems Oy Ltd. The
ways product innovation affects this company was determined through its innovative effort on their
product offerings.
The result of the findings showed that product innovation in this company actually contributed to its
success in the business field, which has enabled the company to gain large profit and some sort of
market positioning. Conclusively, the thesis in essence demonstrated the significance of adopting
innovation to products either as services or goods of the organisation; to provide unique value and
benefits for consumers, gain market share and instill competitive advantage over competitors.
in enabling organisational competence and competitiveness in market competition. Based on this,
the thesis study was to show why it is highly relevant as a driver of business performance and as a
key indicator of competitive advantage strategy for business growth. The research also provide
guidance on how firms can adopt and develop innovativeness and be aware of its market
environment. The study was therefore carried-out purely on researcher's interest in understanding
how product innovation could impact the competitiveness and success of a company. It will also
serve as a roadmap for researcher's future business development.
The use of qualitative and explorative research is implemented to obtain necessary thereotical
(secondary) knowledge to support this research, coupled with primary information obtained by the
personal/indepth interviews survey conducted with the case company, MHG Systems Oy Ltd. The
ways product innovation affects this company was determined through its innovative effort on their
product offerings.
The result of the findings showed that product innovation in this company actually contributed to its
success in the business field, which has enabled the company to gain large profit and some sort of
market positioning. Conclusively, the thesis in essence demonstrated the significance of adopting
innovation to products either as services or goods of the organisation; to provide unique value and
benefits for consumers, gain market share and instill competitive advantage over competitors.