Corporate System Continuous Innovation

Question: Discuss about the Corporate System for Continuous Innovation. Answer: Introduction: The company Google Inc. was established in the year 1996 by two computer science students, Larry Page and Sergey Brin. Both of them developed a technology namely Page Bank which ensured them to evaluate a relevancy of the specific website. They also realized that a specific search engine which is based on the algorithm of PageRank will be very effective at getting better and right outcome than current search engines. Therefore, the concept became the foundation for their search engine which was launch in 1997 (Steiber Alnge, 2013). The company also incorporated formally in 1998. The company got its name from "Googol" which happen to be a maths equivalent of the number one along with hundred zeros. The growth of the company is rapid but it always tries to maintain a culture of the small organization. The concept of Googleplex assisted and also nurtured the atmosphere of collegiality and innovation along with a workout room and extracurricular room. Sophisticated computer tools were established on wooden doors which were later supported by sawhorses (Jain et al, 2013). Weekly games of hockey were organized and staff meetings every week were held in open space. The major amount of revenue comes from advertising through a search engine and its programs like AdSense because of which ads are placed on so many websites. The present business model for the company is advertising and the search engine come under the number 1 position in the market. This is important to note here that the company has become synonymous with a search engine (Cusumano, 2010). In fact, Google is used in the routine lives instead of search on the internet. Another part of the company's immensely successful plan is based on innovation and this can be shown in various products as well as services that Google consist as a part of its brand. Products and Services Following is the list of current and upcoming Google Products: - Internet search engine Email News aggregator Cloud storage for businesses as well as consumers. Websites for watching videos Cloud computing for organizations Calendar Web browser Smartphone and tablet operating system Thermostat Laptops and desktop computers. Internet services Almost sixty percent of total internet-based search is actually owned by the Google. The company has a number of products and application as mentioned above. In fact, as per the marketing department of the company, everybody in the world can be considered as their target market (Conte Vivarelli, 2014). Therefore, the marketing strategy is not entirely bound within the setup of a group of people or any particular location. It is actually challenging to an idea about the company main focus to get the return and competitive edge. The vision statement of the company is to provide the access to the information of the world in a single click. The nature of the business is the direct display of the vision statement. The company's vision statement focuses on three important variables mainly world's information, one click and finally accessibility (Jain et al, 2013). The organization is mainly known for its effective products like a search engine that meet the particulars of the vision statement. The leadership of the company in the market meets the rule of universal accessibility element of the current mission statement by making the product of the company used widely. There are a number of innovative strategies that further contributes to the overall capacity of the company to be able to maintain the current leadership in the market (Minakov, Minakova, Galstyan, Shiyanova, 2015). Critique of the Top Management Team on Entrepreneurial Mindset The company is primarily base its strategies on innovation and the company never tried to guard it as a secret. In fact, the company openly shared the data with the public and the company also codified with a set of principles which are "Nine Principles of Innovation". Execution of important sections of the company's nine principles of innovation by any other company is considered as a wise decision and effective usage of the principle as a foundation is for fostering innovation in organization and product development (Bowonder, Dambal, Kumar Shirodkar, 2010). Following are the nine principles of innovation proposed by the company Google: - Innovation can be welcomed from any direction. The main aim should be on the final user It is important to think 10x level, not10%. The culture must be open enough to bet on technical insights. Ship and iterate It is equally important to accept the failure and there should be no stigma associated with it (Markoff, 2010). Default to open which means it is crucial to be open to new idea and innovation from any corner of the world. Twenty percent time The company must have a relevant mission. Proposed Strategy for Entrepreneurship and Innovation The proposed strategy for the company is to change the vision and mission statement as per the huge variety of the products offered by the company. The organization now also provide the new set of products, like Google Glass and Google Fibre. But, the vision and mission statement remains similar (Westerlund Leminen, 2011). Therefore, the change must show the present diversification of the products of the company. Under ideal circumstances, the vision statement must show the future situation of the organization along with consideration for the present diversified business. The company follows a unique or distinct culture that starts with the founders. The culture is based on informality, innovation, and creativity which can be observed throughout the organization via artifacts that are with the company. It can have seen in every aspect of the business ranging from the way employees greet or address on another as "Googlers" or where the head office of the company is situated in a different and a fun place that looks more like an office or the way company work with the workforce by giving them so many benefits and perks (Chang, 2011). The recommendation for the company is to recruit more experienced people in the place of good academic outcome to have an ideal culture. The experienced workforce has faced so many different kinds of cultures from other companies and will be able to bring a better culture for the company. This way, more experienced workforce can also become the mentor for less experienced employees to increase the level of productivity (Eaton, Elaluf-Calderwood, Srensen, Yoo, 2011). Tacit and explicit information is crucial and must be acquired by the whole workforce. Many employees of the company have the academic record and this is why they have good explicit knowledge. However, they majorly lack tacit knowledge which can be acquired only through right action or from experienced people. References Bowonder, B., Dambal, A., Kumar, S., Shirodkar, A. (2010). Innovation strategies for creating competitive advantage.Research-technology management,53(3), 19-32. Chang, C. H. (2011). The influence of corporate environmental ethics on competitive advantage: The mediation role of green innovation.Journal of Business Ethics,104(3), 361-370. Conte, A., Vivarelli, M. (2014). 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