MOIGC Assignment 2 Example | Topics and Well Written Essays - 3500 words

MOIGC 2 - Assignment Example This helped the firm to achieve competitive edge and creative adaptation for surviving in a turbulent economy. This paper is an extensive review of the leadership, cultural and structural activities implemented by Haier group. Innovation culture followed by Haier is described through its various initiatives such as Win-win model and OEC control groups. The paper also throws light on the various acquisition and expansion strategies which Haier took so as to achieve competitive edge. The company has evolved from being a profit oriented to customer oriented. The study has also analysed the critical relation between its internal innovation strategies and its importance while meeting the changing demands in a knowledge economy. Sufficient facts and information has been providing confirming that Haier has successfully established a fit state with the objective of maximising its opportunities for future innovation and gain sustainable competitive advantage. Marketers and analysts have long realized the importance of innovation. However, it is also true that for long term survival and success in any industry, it is essential to develop a powerful innovation culture. Such culture can be easily recognized within a firm which is known as an authentic and genuine innovator in the external marketplace. The culture is also known to harbour innovation friendly and dynamic environment in its internal workplace. It is also a known fact that innovation culture is very uncommon in the current business environment. A major factor behind this is the inclination towards predictability and stability as they are a readymade path for earning profit. On the contrary, innovation is about change and adaptation where survival and profits can be extremely difficult to achieve, at least during the first few years of implementation. So, innovation has become one of the top priorities for both large