Siemens : A New Trend For Those Successful High Tech Companies

Due to bureaucracy policies and procedures, it sometimes becomes hard to come out with innovative ideas quickly at Rio Tinto. To streamline the bureaucracy, I recommend Rio Tinto to embrace open innovation through collaboration internally and externally. Rio Tinto should assemble a global task force across all the product groups committed to accelerating ideas from concepts to reality. Prioritization of good ideas needs analysis by potential impact, risk and time to market, and should quickly transition open ideation to define the project teams. The open collaboration should embed the four innovation pillars employees reward mechanism, idea generation, idea conversion and idea diffusion.

There is need to consider several things when we talk about operations and future of a business. Expanded through a minor export business in Daegu, Korea, Samsung has emerged as one of the prominent corporations in electronics around the globe (Samsung, 2015). Samsung has major emphasis on electronic appliances and digital media, memory, system integration, and semiconductors. At present, Samsung has always created innovation through top quality practices and products that are accepted around the global. This paper will present SWOT analysis and Porter model of five forces for Samsung and propose the opportunities to increase profitability and competitiveness. This paper also comprises a

Innovations form the main sources of competitive advantages and are always of significance for the growth of a company. Companies or organizations put their greater efforts in improving their performance by finding new ideas and knowledge on the best way of beating their competitors and therefore give satisfaction to their customers. There are various factors involved in the innovation design system which can be either internal or external.

A SWOT (strengths, weaknesses, opportunities, threats) analysis exists for Kudler. This analysis provides insight to Team B of how to identify and manage Kudler's internal and external driving forces in working toward innovation. Such forces include environment, supply and demand, and organizational behavior and strategy.

This research intends to explore innovation at an individual level, but in a context, where the roles and functions of an organization appear eminent either as a promoter or an inhibitor of innovation.

To achieve this goal the organization ought to invest time and money “now”, without affecting its current performance, i.e. innovation requires time and resources which should be planned for in such a way that it doesn’t affect the organization’s current functions. This implies that the company must boast of a very strong core to continue its current operations while focusing on the future.

Closed innovation implies that companies try to develop new products and processes based on the idea that the company itself has the best possible knowledge and resources for innovation. (CHRESBROUGH, 2003 p228)

Technology Strategies for New Product Development Rationalist approaches to technology strategy, such as that of Porter,1 view technological innovation as a relatively unproblematic aspect of corporate strategy. This article will attempt to show that the development of new products by a rm is a more complex, dynamic and uncertain activity than this, dependent for success on organizational as well as technological factors. It will be argued that strategies for technological innovation are, by implication, risk management systems. Here we are referring to the introduction of some means of control over the cost and direction of new technologies,

These R&D labs usually concentrated on bringing out new technologies for self-commercialisation. This process can be viewed in the form of a funnel, where a large number of varied ideas and concepts can be trimmed down to few of those concepts and ideas that best meet the requirements of the company. (OECD, 2008) In recent times, companies have become more open with their innovation process, leading to revolution described as “Open Innovation” by Chesbrough (2003). This ‘open innovation’ model is a more dynamic model when compared the traditional model as there is much more interaction between knowledge assets outside the company as well as inside. Henry Chesbrough (2003) in his book “Open Innovation: New Imperative for creating and profiting from technology” defines open innovation as a concept in which companies must use ideas from inside as well as outside sources and find internal and external ways to reach the market in order to advance their technological capabilities. Open innovation combines these 3

Tidd and Bessant (2009) argued that “Unless an organization is able to move into further innovation, it risks being left behind as others take the lead in changing their offerings, their operational processes or the underlying models that drive their business”.

Siemens, a German conglomerate company based on Berlin and Munich, it is the largest manufacturing electronics company in the world, they have been established over 170 years. At Siemens, their goal is to applied science and engineering into the common good of the society, use the sustainable technique to improve the life condition and gain the best value to the society.

Innovative companies can use technology Management as a set of guidelines or disciplines to allow their organizations to create a competitive advantage. (Burgelman 3). The technology the organization uses for creating a competitive advantage include knowledge, products, tools, methods, and processes used to create goods or provide services. (Christensen 45). Innovations are often viewed as disruptive and risky but a company has several marketable ways to innovate safely without over estimating or under estimating the market 's needs. (Narayanan 93).

Lackner knew that Siemens own huge baggage of knowledge which was hidden in its employees’ minds. Additionally, diversified profile of the company gave it an access to the advanced technology, which was important for the open innovation. He created an experimentation plan, which was not very welcomed as Corporate Technology group thought that they were already doing everything he proposed. Moreover, even more

Siemens is a multinational corporation that currently operates four major revenue generating sectors. These sectors include energy, healthcare, industry and its latest addition, infrastructure and cities. Siemens' energy sector leads the world in terms of products, services and solutions geared towards power generation. Its portfolio comprises highly efficient technologies for power transmission, thermal power plants, renewables, and for the extraction, processing and transport of oil and gas. Siemens healthcare sector ranks as one of the world's largest and leading providers in healthcare IT, imaging systems, laboratory diagnostics, and hearing instruments. Under its industry sector, Siemens is one of the world's leading suppliers of eco-friendly and innovative products and solutions for industrial customers. Of the four sectors, infrastructure and cities is the most recent Siemens' venture. Launched in October 2011 it offers sustainable technologies for metropolitan centers and urban infrastructures through building and security systems, integrated mobility solutions, smart grid applications, power distribution equipment, and low- and medium-voltage products. To date Siemens greatest competitor in the energy, healthcare and industry sectors has been General Electric (GE), long the world's dominant industrial company.

Companies live and breathe innovation; or, at the terribly least, notice it basic to their success. Such companies are those that others ought to emulate for they recognize that to do business, as Peter Drucker prompt in an exceedingly recent Harvard Business review article, “Every firm—not simply businesses—needs one core competence: innovation.”