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Essay / Innovation Management and Marketing in Global Companies
Innovation Management and Marketing in Global Companies by Ersun and Karabulut (2013) is an article that presents different positions of several authors on the importance of establish innovative strategies in the development and management of new products and markets in global business communities. The concept of innovation in this article is defined in terms of products, processes, marketing and management practices. The product of the innovative strategies described in the article is expected to impact the value of the product to the end user in the form of increased appeal and utility to the customer, and to the business entity under the form of an increase in income. Expanding and maintaining the market base is the desired end result of the innovation process. The topic is of great interest to the author as there has been a notable increase in market competition within the global business community. According to the writings cited in the article, their research indicates that a company's ability to succeed and prosper over a significant period of time appears to indicate the implementation of strong innovative strategies. Ersun and Karabulut (2013) are very concerned about the implications of marketing and management innovations in the global market because it is proven to be useful as a tool to achieve great success. Unfortunately, they say, little work has been done to develop an “integrated innovation management and marketing model.” Furthermore, there is little literature available on the subject that allows companies to have a broad enough perspective in innovative strategies to help them move forward under the guidance of an established system. Thus, the author felt compelled to make a brief passage in the middle of the article......on technological and non-technological elements which include strategy, culture, organization and marketing. All members of the management team must be involved in the process of innovation management practices in order to be successful. The author concludes that, again, there is very little literature providing a blueprint for implementing a strong and proven innovative management and marketing system. on the world stage. However, the available literature and empirical research currently being conducted provide a starting point for a future system that will guide companies wanting a chance to successfully participate in the market. Works Cited A. Nur Ersun and A Tugba Karabulut (2013). Innovation management and marketing in global companies. International Journal of Business and Management; Flight. 8, no. 20; 2013