Amazon Kindle And Its Innovativeness Essay Example | Topics and Well Written Essays - 1750 words

Amazon Kindle And Its Innovativeness - Essay ExampleAt the uniform time, institutional economics define innovation as an important economic activity for reducing movement costs and thereby improving operational efficiency. According to Leger and Swaminathan (n.d), the evolutionary economics defines innovation wholly different from neoclassical theories and assumptions and it illustrates innovation by reconciling the micro and macro evidence. In the context of world-wide trade, endowments and factor prices, market structure and competition, and demand pull factors are the determinants of innovation. Sundbo (2003) reflects that innovation process is generally sort out into three types such as product innovation, process innovation, and strategy innovation. Tidd, Bessant, and Pavitt (2005) state that under product innovation, an system tries to bring a new product or supporter to life with intent to meet customers changing requirements whereas the process innovation attempts to increase a firms bottom line profitability, managerial realize over costs, productivity, and employee job satisfaction. In the view of OMarah (2005), the process innovation also benefits customers by increase efficiency in supply chain activities such as timely product or service delivery. Finally, strategy innovation is about restructuring the prevailing industry methods of creating customer encourage for the purpose of adding additional value to the companys market stature and creating new markets and customer groups for wealth maximization.