Innovation Strategy Dell Launched Term Paper

Pages: 3 (915 words)  ·  Bibliography Sources: 2  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

Innovation Strategy

Dell launched its existence with an innovative strategy both in terms of production and retailing, but has struggled in recent years to match that innovation as its industry has moved towards commodification. The company's innovation focus is in customer-driven innovation. It has built innovation into the corporate culture, reinforcing this by highlighting innovators as corporate heroes (Dell, 2013). In recent years, these have come from a range of areas within the company, highlighting the fact that Dell is still focus on corporate-wide innovation. Dell is now a private company, so it is difficult to tell how well the company has succeeded in recent years with its innovation strategy. The company uses innovation not just to reinvent the business, but it also focuses on incremental gains, which are necessary in a rapidly-changing industry environment.

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MGM also takes a customer-focus approach to innovation. The company seeks to distinguish itself not just by offering compelling concepts and operational excellence, but by delivering service innovations that appeal to consumers (Casteel, 2013). The company has a more centralized innovation strategy. Where Dell encourages innovation from all areas of its organization, MGM prefers a top-down approach to innovation. Part of this reflects the realities of the different industries and workforces. MGM's workforce is largely non-technical while Dell's workforce is heavily technical in nature. Further, MGM's industry moves at a slower pace, which allows for it to take more time to plan its innovations. Dell needs to move quickly in its industry, which has experienced several rapid shifts in the past few years. So while both companies focus their innovation efforts on the customer, they take different approaches to achieving the goal of increased customer-focused innovation.

Term Paper on Innovation Strategy Dell Launched Its Assignment

Dell's innovation strategy relies on the company being able to attract the best talent. This is challenging in an industry that features some of the wealthiest and most desirable employers in the world, and the challenge is made even more difficult by the fact that as a private company Dell can no longer offer equity-based incentives to its employees. Yet, it makes a lot of effort to foster innovation because it realizes that innovation is an important component of competitive advantage.

MGM's approach is just as successful as Dell's, but for its own industry. MGM's approach would not be successful in the personal computer business because it is too slow, and does not engage enough of the company's employees. Even though front-level employees are the ones who deal with customers every day, MGM prefers to allow managers to take ideas and develop them with respect to innovation. Part of this because MGM has a number of different brands, and seeks to roll out some of its innovations across its entire family. Dell, in contrast, has a… [END OF PREVIEW] . . . READ MORE

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Innovation Strategy Dell Launched.  (2013, November 23).  Retrieved January 26, 2021, from https://www.essaytown.com/subjects/paper/innovation-strategy-dell-launched/1527125

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"Innovation Strategy Dell Launched."  23 November 2013.  Web.  26 January 2021. <https://www.essaytown.com/subjects/paper/innovation-strategy-dell-launched/1527125>.

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"Innovation Strategy Dell Launched."  Essaytown.com.  November 23, 2013.  Accessed January 26, 2021.
https://www.essaytown.com/subjects/paper/innovation-strategy-dell-launched/1527125.