Innovation and Competitive Advantage: Changing Environments

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Another activity Samsung is engaging in is through design strategy to determine what products to make and when to do it. The company conducts analysis on why to use this approach and how it is going to innovate contextually as a long-term solution. The approach integrates holistic-thinking in its research methods to provide a good context for the design. The company is also developing high energy efficiency products. This is achieved through establishing practices of producing products that are energy saving on all its business divisions. Thus, this will enable the company to produce products that are highly energy efficiency in the world of technology. This is achieved in various products through having vacuum pumps that have low- power technology and water humidification systems that are energy efficient. These approaches will enable the company to sustain competitive advantage in the world market (Song & Yi, 2014).

The R&D initiatives that Samsung is involved in to ensure the long-term competitive advantage include focusing on using its existing resources on how to overcome its competitors. This is achieved through being resourcefulness in the same pace with the existing competitive advantage. The company is also adopting a strategic intent by encompassing the active managing processes. The company can focus the attention of communication within the organization by encouraging team contribution. Thus, this will create a new operational strategy that will ensure proper utilization of available resources (Goyal, 2014).

Another R&D initiative carried out by Samsung is through shifting its innovation investments to regions that are growing fast in terms of sales and manufacturing. Also, the company is investing in regions that are offering low cost of operations. Samsung is widely practicing global innovation practices. This ensures the company can tap the foreign market and offer competition especially to Apple which is its main competitor. The R&D initiative has enabled the company to offer its products globally by acquiring new market segments with low prices. Thus, by using these R&D initiatives Samsung has grown to be among the top technology companies with high revenues per annum around the world.

References

Khanna, T., & Bullock, R. J. (2015). Winning in emerging markets: A road map for strategy

and execution. Boston, Mass. : Harvard Business Press.

Goyal, A. (2014). Innovations in services marketing and management: Strategies for

emerging economies.Hershey, PA : Business Science Reference

Song, C., & Yi, K. (2014). The Samsung way: Transformational management strategies from

the world leader in innovation and design. New York : McGraw-Hill Education.