business week 3

MANAGING INNOVATION 6

Managing Innovation and Entrepreneurship

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Institution

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How the organization is meeting the concepts of Competitive Advantages

Yahoo is extremely focused on meeting all the concepts and requirements needed for a profit-making entity for the purpose of maintaining a competitive edge. First, the organization is focused on innovation and great products for its clientele. This is a lot harder to duplicate. Product development has become the sole focus for the organization, which is harder to copy, hence provision of excellent customer service. The second concept is the need to create a strong organization brand.

A strong brand lasts years before it is outdone by competition in the market. This should be done in association with consumers. The third aspect has a stronger culture. Business is dynamic and changes with the speed of the environmental change (Kearney, 2013). There is a need to have a strong company culture, which also reflects the focus of the organization. Finally, Yahoo Company is keen to emphasize on strong leadership, where talent enhancement is highly favored. There is a need to replace lazy leaders with open-minded leaders, and encourage the need to be visionary.

The organizational leadership philosophy on innovation.

At Yahoo, the presence of each worker needs to be felt through service delivery and high level of effectiveness in operations. There is a need for every employee to uphold accountability. More so, ensuring that services are delivered in the timeliest manner is prioritized. Yahoo Inc. believes in effectiveness, personnel loyalty, and consumer satisfaction. Workers are not necessarily required to be physically present to deliver their delegated duties. Virtual organization reporting is also encouraged, for increased convenience in the entity. The belief in performance effectiveness drives Yahoo towards greater heights.

Activities the organization is actively engaged in to sustain competitive advantage

Once an organization has been created and established, the reputation of a firm is a valuable asset. Yahoo aims at ensuring that its reputation is leveraged, and key relationships with industry partners are maintained. This has been done through the addition of content services, and as a result, Yahoo has managed to secure the base of competitive advantage faster than all its competitors in the industry. Established reputation has done so well for the organization, which has, in turn, reflected the culture and powerful capabilities the organization has built in its formative years in existence.

Another way through which the entity has managed to sustain its competitive edge in the industry is through the provision of search capabilities (Martin, 2014). The organization specifically focuses on branding as well as communications. More complex content-rich interaction by its consumers has since been embraced, and immediate functionality has been done away with. Additionally, branding has helped facilitate the transformation of the engine into desirable and easily accessible destination sites. Yahoo cares about the satisfaction of its clients, hence all these practices to enhance consumer satisfaction.

Data is an incredibly difficult concept to understand. There are numerous avenues which can be used by an organization to attract its consumers, and enhance consumer trust in the organization. Yahoo has managed to assure its clients that it is an ongoing concern and that despite all the challenges facing the organization, it will always strive to rebuild its asset base, as well as retain its enormous market share for increased profitability. Yahoo believes in the importance of transforming data into useful, compelling and entertaining information for the purpose of proving capability and competitiveness.

R&D initiatives the organization is involved in for long-term competitive advantage.

Research and development are very critical especially for organizations which aim at maintaining the competitive edge in their industries. There is a need to ensure that collaboration with different departments is possible, to ensure that consistency is presented in operations. One significant Research and development activity embarked at Yahoo, involved business applications. The organization is working on a technology which will consider planning, and technology integration in the organization.

This way, it will be easier to incorporate music match, Movies, Yahoo TV and personals in one system. This packaged recommendation is bound to ensure that any interested customer accesses the most efficient services in the most efficient and faster way (Martin, 2014). Video consumerization is another important process which is recommended for research and improvement at Yahoo Inc. this concept has been motivated by the observation that important visual components repeatedly appear across videos. Yahoo aims at improving a system which summarizes topical keywords for increased relevance.

References

Hirsch, R. D., & Kearney, C. (2013). Managing innovation and entrepreneurship. Sage Publications.

Martin, M. J. (2014). Managing innovation and entrepreneurship in technology-based firms (Vol. 20). John Wiley & Sons.

Martin, M. J. (2014). Managing technological innovation and entrepreneurship. Reston Pub. Co...