Why Innovate?

Market globalization is a huge reason for the world too become more innovative, it is the process of increasing the connectivity and independence of the world's markets and businesses. The process has increased dramatically over the past few years as the constant technological advancements make it easier for communication and travel. This is extremely beneficial to international business,

Corsi (2000: 1) explains that the deep and wide interaction between socio-economic development and innovation technology management has increasing influence on future markets. The globalization phenomenon has a great impact on countries innovation based strategies aimed at increasing competitiveness and promoting growth of innovative processes and products.

As the economies become more connected there is the set back of increasing the competition within the market, companies can increase their opportunity but also their competition. This therefore means as globalization develops due to innovation so does the increasing competition threat towards their companies.

Innovating also has a large impact on the workforce of a company, it brings in new productive ways of working and people can be hired for jobs all around the world. The availability of video calls and internet technology has allowed for people to work from home and work more efficiently. Managers need to be able to promote innovation within their workforce and adapt to the constant change in technology within their markets.

According to Kanter cited in Sistare (2009: 116) for managers to be successful in the future this requires a number of things. Firstly they will need to create networks as leaders cannot be in enough places or understand everything which is happening within the organisation, they also need to develop good ways of communication within the company and to improve building coalitions as people with the resources, knowledge and political clout to make things happen need to be involved.

The development of innovation is going to benefit the market and economies extremely because of the new technology allowing the communication between different markets and countries. It will also give countries the ability to improve their workforce productivity as communication will be improved and the technology they have available to them will allow them to be more productive.



Corsi. C & Akhunov. A, 2000, Innovation & Market Globalization – Ths Postions of SME’s, IOS Press Ohmsha, Page 1

Sistare. S & Buss. T, 2009, Innovations in Human Resource Management – Getting The Public’s Work Done in the 21st Century, M.E Sharpe. INC, Page 116