Essay Sample on Exploring Innovation Approaches to Increase Profits & Productivity

Introduction

Due to expansive market shares and intensified competition, companies are making explorations of new approaches and strategies with the main view of increasing profits and always remain productive (Barley, Bechky, & Milliken, 2017). The above has led to the involvement of innovation approaches by companies which approximately makes focuses on the process, technology, management, and product. The management innovation entails applications of new organization practices. They are known as innovative ways of making executions of activities that lead to shifting from convectional management skills and also effective management of the firm.

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The primary critical components of a firm are innovative management practices concerning developments in competitive advantages, management of employees, market shares, and also revenues( Klein, Mayer, & Zechlin, 2016). Various studies have already shown deemed novelty organizations as a prerequisite for effortlessly enhancing ethics of the corporation. The primary purpose and aim of this paper are to keenly make a detailed research on various actions that are taking place in the above firm. Also, the primary purpose to is to vigorously examine the innovative management in the united technologies with strictly much emphasis on the practices and critical management skills plus also the application of different tactics responsible for improving the company.

United technology is a company dealing with the provision of a wide range of products and services. The company plays a crucial role in providing products that are of high leveled technology plus services that are correctly used globally in building system industries and aerospace. In my research activity, products that are present in the company include; air conditioning, refrigeration solutions, helicopters, security and fire systems and finally carrier overheating. The main instrument appropriate to use in the corporation for better achievement is the perfect pronunciation of the company's mission and vision statement. Repeating and articulating positive sides towards change in the organization will quickly help the employees to stay motivated and engaged in the process of doing their work.

According to my research, by use of observation method, united technologies company has made an effort of employing various innovative management approaches. The approaches have enabled it to meet its financial goals, increase in profits, provide high technology products and services and above all increase in earnings across the World (Nodoushani, Stewart, & Escobar, 2016, July). Some of the innovative management strategies that are in employment include; organizational structure, decision making, communication, strategic management, and finally international business.

The company's primary aim is profit-making, investment in the country, balancing States economy purposely for poverty eradication. The strategic management that is conducted by the united technologies company is deliberately present in outsourcing and the joint initiatives. The process has already led to the continued innovation management actions at the firm. Through making a clear assessment of its external environment for threats and opportunities, United Technologies Company has made an effort of engaging in various dual expressed initiatives with other corporations in the debauched rising souqs (Guven, 2017). That is, according to my research. The firm has too is present in agreements and strategic sourcing strategies with other various corporations that are present in emerging markets like; Spain, Brazil, and China. For the company to achieve its set mission and vision, it needs to sacrifice itself in terms of commercial uses, avoid losses, and also engaged business-oriented individuals. The mission and vision include; idea- to create economic opportunity for each member of the global workforce and target; to make a connection of the world's professionals for making them more successful and productive.

Conclusion

In conclusion, the company's core values include; joining as one and ensuring that there is development in the United States. Events should be in terms of economy, infrastructure, and State at large, minimizing loses and maximizing profits.

References

Guven, S. (2017). Communication technologies, political communication, and the public sphere.

Klein, W., Mayer, H. G., & Zechlin, O. (2016). U.S. Patent No. 9,513,131. Washington, DC: U.S. Patent and Trademark Office.

Barley, S. R., Bechky, B. A., & Milliken, F. J. (2017). The changing nature of work: Careers, identities, and work-life in the 21st century.

Nodoushani, O., Stewart, C., & Escobar, J. (2016, July). Organizations' Investment in Education. In Competition Forum (Vol. 14, No. 2, p. 307). American Society for Competitiveness.