Sarah answered on
Mar 26 2020
Table of Contents
Executive Summary 3
Information technology industry has become a synonym for innovation, and their innovation is inevitable for the growth of their business and the other business relying on these technologies. Innovation is not the creation of a new product or service, it is a continuous process, and they are viewed as regular business activities of the company by their IT giants. IT companies are proactively developing various products and services after scanning the external environment growing needs. It results in these companies to meet the new challenges in an efficient manner. IT companies understand that organization structure, culture, and human capital are the major drivers of the innovation (Datta, 2011). This report focuses on the innovation activity of IT industry. Every day new services and products are introduced and analyzing on how these activities are successfully ca
ied out are detailed in this innovation industry report. Critical analysis about Oracle Corporation indicates how the innovation activity is taking place in their company and provides an outline of the entire industry. The report focuses on all critical areas of business innovation (Datta, 2011).
The technology industry is a highly innovative industry, and there is a continuous innovation process taking place in the industry. The industry report will provide deeper insight on how the technology industry is involving in the innovation process. The report makes an in-depth analysis of a well reputed innovative technology organization. To make a detailed analysis of this innovation, Oracle Corporation is chosen who is well known for their innovative IT solutions (Reuters, n.d.).
Oracle Corporation is a technology company provides various products and services that provide solution to various information technology solution that includes application, infrastructure, and platform. The company provides cloud and on-premise software through SaaS (Software as a Service) and PaaS (Platform as a Service). Oracle provides cloud-based IT environment that can hosts, manage and support the clients’ data. Oracle sells software products, applications, databases, Java, Middleware, and Fusion.
Oracles’ IaaS (Infrastructure as a Service) is providing the essential architecture to other companies in using the cloud computing environment. Oracle has exclusive hardware and service businesses. Oracle provides a strategic business solution to various problems of the today’s enterprises. Oracle is competition in the technology business that requires continuous innovation. In other words, to sustain in the technology business, Oracle should be innovative, and that process should be continuous (Datta, 2011). In this report, there is a detailed discussion about the innovation activities of Oracle who has a significant market position in the industry.
The technology industry has a large number of players, and they involve in intensified innovation process to ensure that they are in a position to hold the significant market position. Dependence on the information technology has increased at skyrocketing level that requires these organization to be an example of how an innovative organization should operate. Information technology industry has various innovation model available for them to implement. The six-popular innovation model as per BCG are creators, solution builders, leverages, expanders, defenders and fast followers (Manly, Grassl, and Wilson, 2017).
Image Source: Manly, Grassl, and Wilson, 2017
Creator innovation model is those they are visionaries, and they disrupt the entire market through their products. Solution builders aim at developing a various plausible solution to tackle the growing business problem and they mainly aim at catering the needs of the customers. It is essential for the IT companies to ensure that their products are solving various problems and providing better future for their business (Manly, Grassl, and Wilson, 2017).
Leverages are those innovation model in which the company innovates their core business model for driving the advantage of the business. Expanders are those who are seeking for expanding the core business activities, and they want to gain market share. Defenders strategy are used by the organizations to stay in the competition (Manly, Grassl, and Wilson, 2017). When competitors are introducing one after the other new product or service in the industry, it is essential for the companies to respond them so that they can remain competitive in the industry.
Next innovation model is the fast followers, who introduce the products or services that are similar to the other market player to ensure that their customers get all the services that are provided by the other competitors in the industry. All these six-innovation model are widely present in the IT industry. Large enterprises who have huge capital and their organization focus on providing innovative product or...