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Requirement
Task 7 Corporate Culture & Ecosystem
Investigate Corporate Culture at several innovative companies.
?Begin your research with these innovative companies: ?IDEO
?Tango
?Google
?Zappos
?W.L. Gore
?3M
?Boeing
While looking into these companies, think about:
?What is the corporate culture and ecosystems?
?What are the innovative products or processes of these companies?
?What are the common pitfalls within the ecosystem?
Analyze and report on whether the new product line is achievable within a culture that supports innovation. Suggests ways that the corporation can embrace the new idea.
Solution
Introduction
The competitive strategy and innovation are the plans of the company which helps in gaining competitive advantage in the industry. It helps in generating the high return on investment. The corporate culture plays a very important role in achieving the competitive advantage as the corporate culture have common values, beliefs, and attitudes which help the company to achieve their objectives. The companies are becoming more innovative and adopting new ways and strategies in order to encourage employees and retain them and orient towards innovation. The employees work more effectively and efficiently, and the company is able to gain a competitive advantage over the competitors, and this also helps the company to increase the sustainability. Further, the innovative companies are given ahead which shows their corporate culture, common pitfalls within the ecosystem and the innovative products with their phases of processing.
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Innovative companies
1. IDEO
IDEO is in the global design business and includes innovative products like medical and computer equipment. The company uses two approaches i.e. design-based and human-centered. The company identifies the new techniques in order to support the people. The company features the new brands and strategies the services, products, etc. and induce them to life. The corporate culture of IDEO is very fascinating. The employees believe that nothing is impossible, and they believe the most impactful asset which they have is "we." The employees learn from the failure and move on in order to get success. The phases of the processing used are observation, ideation, prototyping, iteration and implementation. The pitfall within the ecosystem of IDEO is the lack of communication, and the company is working on it to improve ("IDEO | A Design and Innovation Consulting Firm," 2016).
2. TANGO
Tango provides the solutions of data monetization for developing the networks of mobile. This innovative company drives the services of innovation and velocity in order to monetize the rising demand for the mobile data successfully by using the resources appropriately. The corporate culture makes the company unique. The employees always welcome the new ideas. Employees work in different teams at the time of the new task in order to build a positive relationship. The pitfall within the ecosystem of TANGO is the lack of internal communication, and there are differences based on the culture. The phases of the processing used are identification, connect and exchange of data, facilitating, performing and leveraging ("About Tango Telecom," 2016).
3. GOOGLE
Google is an innovative and multinational company of technology which offers the services related to the internet and the innovative products include advertisement of technologies, searching, cloud computing, etc. the corporate culture of Google is mesmerizing, and the employees are free to give their opinions, and the company strikes to sustain an open culture. The meetings are done in a very interactive way in the cafes, and there is no discrimination based on the culture. Various games are played to increase the level of interaction and understanding among the employees. There are no such pitfalls in the ecosystem of Google. And employees find it the best place to work. The phases of the processing used are a collection, configuration, processing and reporting ("Company – Google," 2016).
4. ZAPPOS
Zappos is the online shopping store of shoes and cloths. The items are delivered to customers in the quickest way, and this is done with the availability of products in the warehouses. The change is embraced by the employees, the employees are open-minded and are very creative. The employees believe in growing by their determination. And the relationship among the employees is very honest. The employees get a chance to write in the culture book of the company every year. The pitfalls in the ecosystem of Zappos is that the merger has created the internal competition among the employees and the company is working upon to improve it. The phases of the processing used are identification, information search, evaluation of alternatives, final decision ("Online Shoes, Clothing, Free Shipping and Returns| Zappos.com," 2016).
5. 3M
3M is called as Minnesota Mining and Manufacturing Company. The product of the company is available in many countries with the help of distributors and retailers. The innovative products are medical products, electronic materials, products of car-care, etc. The employees get 18% of the time in brainstorming the new ideas. The teams get freedom to develop new ideas. The corporate culture of 3M is open for the creativity and innovation. The common pitfall in the ecosystem of 3M is that the senior management does the partiality while following up the employees. The phases of the processing are development of the product concept, feasibility assessment, development of the business plan, implementation ("All 3M Products | the 3M United States", 2016).
6. BOEING
Boeing is the aerospace company and the manufacturer of jetliners, defense, space and the systems of security. The company is one of the top exporters of U.S. and have the customers in more than 150 countries. The products of the Boeing are satellites, aircraft, defense and launch system, logistics, etc. the work life of employees is very balanced as they don’t have any pressure. The employees are very enthusiastic. And this helps the company in making brand value. The pitfalls in the ecosystem of Boeing is the tough competition among the employees as there is limited scope for growth in the company. The phases of the processing used are conceptual design, preliminary design phase and the detailed design phase ("Boeing Company," 2016).
7. W.L.GORE
The company is one of leader of fluoropolymers, and it achieved success in transforming dreams to realities for the clients across the world. The company further developed polymer in the various applications fabric, medical, aerospace, oil, and gas, etc. the employees in the company believes in working in teams in order to increase the business value. The employees support each other in order to overcome the weaknesses. The positive connections are built among the employees. The employees are committed to their work. The pitfall in the ecosystem of the company is that the employees do not get enough support from the top management. Therefore, the employees help each other in order to grow. The phases of the processing used are thermoforming, transfer and rotational molding, extrusion, injection and blow molding and foam molding ("Our Culture | Gore," 2016).
8. VMware
The company is one of the leaders in the cloud infrastructure and the mobility of the business. The company helps the other organizations in mobilizing and helps in responding fast to the various opportunities with the help of modern data and apps which help in protecting the trust of the customers. The innovative products and services of the company are networking and security, cloud management platform, etc. the employees are passionate, enthusiastic, and there is no difference in the company based on the different religions and values. The corporate culture is appreciated by the employees. The pitfall in the ecosystem of VMware is there are so many managers to handle the employees who create the chaos at the time of reporting. The company is working to overcome this problem. The phases of the processing used are define business care, requirements and core technology ("Working at VMware," 2016).
Suggestions for corporations in embracing new ideas
The new product line is achievable within a culture that supports innovation. It gives the chance to employees to explore their talent, and they come up with new ideas and strategies, and this helps them in giving productive results to the company (Guiso et al; 2015). The company is able to develop new product line easily.
There are some ways that the corporation can use in embracing the new idea:
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The management should appreciate the employees who come up with new ideas and always encourage them even if the idea is not suitable in order to motivate them.
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The management should provide training to the employees according to the change in technology so that the talent of employees do not get wasted.
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The employees should be hired who have different perspectives and think out of the box. This will help the company in developing more innovative and creative ideas for the products.
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The management should create enough opportunities for the employees so that they can grow and learn more by performing different jobs.
Conclusion
The report shows that good and positive culture plays a very important role in the creativity and innovation of the products. The positive corporate culture helps the employees in showing their talent, and they get a chance to learn more from their colleagues. It also helps the company in achieving competitive advantage over the competitors in the industry. The report shows that the innovative companies have a very positive corporate culture and employees are very much satisfied with the company. The report also shows that the innovative companies have some pitfalls in the ecosystem of the company and the companies are working in order to improve the productivity. This would further help in the development of new business line for the new products.
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("Online Shoes, Clothing, Free Shipping and Returns| Zappos.com", 2016)
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About Tango Telecom. (2016). Tangotelecom.com. Retrieved 21 September 2016, from http://www.tangotelecom.com/about-us.html
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All 3M Products | 3M United States. (2016). 3m.com. Retrieved 21 September 2016, from http://www.3m.com/3M/en_US/company-us/all-3m-products/
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Boeing Company. (2016). U-s-history.com. Retrieved 21 September 2016, from http://www.u-s-history.com/pages/h1832.html
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Company – Google. (2016). Google.com. Retrieved 21 September 2016, from https://www.google.com/about/company/
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Guiso, L., Sapienza, P., & Zingales, L. (2015). The value of corporate culture. Journal of Financial Economics, 117(1), 60-76.
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IDEO | A Design and Innovation Consulting Firm. (2016). Ideo.com. Retrieved 21 September 2016, from https://www.ideo.com/
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Our Culture | Gore. (2016). Gore.com. Retrieved 21 September 2016, from https://www.gore.com/about/culture
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Working at VMware. (2016). Careers.vmware.com. Retrieved 21 September 2016, from https://careers.vmware.com/
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