Answered You can hire a professional tutor to get the answer.
Hi, need to submit a 1750 words essay on the topic Comparative study two companies in the same area with regard to their innovation activity.Download file to see previous pages... Comparative study tw
Hi, need to submit a 1750 words essay on the topic Comparative study two companies in the same area with regard to their innovation activity.Download file to see previous pages...
Comparative study two companies in the same area with regard to their innovation activity
This paper look at the companies history in relation to innovation, their respective time of entry, the path-dependencies, factors that influenced their optimal entry timing, transition process, and their motivation and management of the companies resistance. To achieve this, the study is going to employ different concepts such as types of innovation model, BCG Growth-Share Matrix, technology S-curve, SWOT analysis, and Porters 5 Force model. Grunfos A/S is a firm that manufactures pumps with its representative companies distributed across the world having more than 20,000 employees. The three major products produced by the company include submersible pumps, circular pumps and centrifugal pumps producing over 19 million pumps annually. The company’s white paper on its measures on changes in climate indicates that innovation remains the core of Grundfos. Dong Fang Turbine Co.ltd on the other had is an enterprise owned by the state with approximated over 13,000 employees and it has over the years developed to become among the top three leading power equipment companies. To get to this position, innovation has been key to the company’s development leading to the coming up of new wind turbine, thermal power and solar power.
Self regulation in Grundfos has been appreciated as being remarkably exercised and it is deeply committed to the sustainability of the company. Following the fact that the kind of business run by the company remain relevant to the water resources of the world, its innovations have to take into consideration the Corporate Social responsibility. (Keeley and Doz 76). The company has committed itself to cut down on their carbon foot print and reduce their emissions of carbon in the entire cycle of both the services and products they produce, cut down on their water consumption using their value chain, produce pumps that are energy efficient, assist the world in adapting to the changes in climate, low carbon economy and water scarcity and facilitate the awareness linking energy, water and climatic changes. This implies that the main challenge to Grundfos innovation strategies is the state environment thus is has to come up with ways of ensuring that all the environmental regulations have been observed at the same time maximize on its profits. The company has adapted well to this challenge and this can be attributed mostly to its traditional proactive to take part in global environmental concerns such as being part of the establishment of A to G energy labeling that was a voluntary exercise, facilitating the production of educational material as well as funding and running researches and campaigns on environmental issues in the media (Keeley and Doz 120). Companies Endeavors Grundfos innovation strategies have been coupled with organizational adjustments, environmental management systems, and endeavors implemented one after the other. It is the Central Service Department of this company that is responsible for the coordination of environmental issues concerns as well as management of the external collaborations. Chain management of environmental products, environmental management in relation to production and the responsibility of corporate social remain the responsibility of this department.