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Essay / Research Paper Abstract
This is a 4 page paper that provides an overview of industrial innovation. Examples in technology, manufacturing, and banking are explored. Bibliography lists 2 sources.
Page Count:
4 pages (~225 words per page)
File: KW60_KForginn.doc
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listed below. Citation styles constantly change, and these examples may not contain the most recent updates. Pan-Industrial Examples of Innovation , 2/2011 --for more
information on using this paper properly! Innovation is widely regarded as one of the most important elements of business. The law of competition in the free market dictates that
companies are constantly striving to provide superior products and services to one another, indicating that all things being equal, the more innovative a company is, the more likely it is
to achieve a competitive advantage. The nature of innovation can be elusive however, and it can manifest in a variety of different forms across different industries. For instance, innovation in
manufacturing might involve improvements to processes and production, while innovations in banking might focus on improvements to service models. This paper will explore fundamental innovations achieved in the technology industry
by Apple Computers, in manufacturing by Toyota, and in the banking sector by Wells Fargo. The technology industry is always concerned with innovation because the very essence of success
in the industry involves being on the bleeding edge of new developments and product releases. Apple Computers presents an excellent example of the importance and transformative power of innovation in
technology. In the middle of the 2000s, Apple was considered by many to be a largely irrelevant company on the verge of bankruptcy; they had not had a major success
or innovation in the computer industry since their releases in the late 1980s and early 1990s. However, everything changed dramatically with the companys release of the innovative iTunes and iPod
products which helped to redefine the image of the company as one in touch with the needs of modern, tech-savvy individuals. It is said that in launching this product, Apple
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