Technology Innovation
RIT
Saunders College of Business - Managing Technology
Research Paper
On
Technological Innovation
Mayurkumar Patel
Student id – 592000977
Innovation is a key to success for businesses. It is a reason for almost everything what we see today and that’s why it is also a driving force leading towards a better tomorrow. Technological innovation is responsible for value creation and enhancement for customers and subsequent increased profit margins for the producers in today’s business world. It is learnt as a new idea or a combination of older, known ideas to make entirely new product or develop new process. It is rightly said by Roger Ascham, "Necessitie, the inuentour of all goodnesse."(“Toxophilus”) or ‘Necessity is the mother of Invention’ in its English version. On the one hand, greed of the people or unsatisfied desires for better living standard every next day creates the necessity of newer, better products in the market. On the other hand, competition, better profit margins, saturating product curve and decreasing product demand due to increasing customer requirements are the needs for innovation for producers. In this paper of technological innovation I will discuss Video gamming consoles manufacturing Japanese company Nintendo’s approach towards innovation for its gaming console products line and subsequent factors that have forced the company to continuously innovate with correct understanding of its customers’ requirements. I will also discuss the company’s innovation strategy, its impact on the gaming market and factors that are again forcing the company to rethink its innovation strategy and to come up with newer and better products.
Japanese gaming console manufacturing company Nintendo launched its first gaming product Nintendo Entertainment System in 1985. From 1985 to 2001 Nintendo has launched many successful gaming products in the market and did good business. From television compatible gaming console to portable gaming device, Nintendo
Saunders College of Business - Managing Technology
Research Paper
On
Technological Innovation
Mayurkumar Patel
Student id – 592000977
Innovation is a key to success for businesses. It is a reason for almost everything what we see today and that’s why it is also a driving force leading towards a better tomorrow. Technological innovation is responsible for value creation and enhancement for customers and subsequent increased profit margins for the producers in today’s business world. It is learnt as a new idea or a combination of older, known ideas to make entirely new product or develop new process. It is rightly said by Roger Ascham, "Necessitie, the inuentour of all goodnesse."(“Toxophilus”) or ‘Necessity is the mother of Invention’ in its English version. On the one hand, greed of the people or unsatisfied desires for better living standard every next day creates the necessity of newer, better products in the market. On the other hand, competition, better profit margins, saturating product curve and decreasing product demand due to increasing customer requirements are the needs for innovation for producers. In this paper of technological innovation I will discuss Video gamming consoles manufacturing Japanese company Nintendo’s approach towards innovation for its gaming console products line and subsequent factors that have forced the company to continuously innovate with correct understanding of its customers’ requirements. I will also discuss the company’s innovation strategy, its impact on the gaming market and factors that are again forcing the company to rethink its innovation strategy and to come up with newer and better products.
Japanese gaming console manufacturing company Nintendo launched its first gaming product Nintendo Entertainment System in 1985. From 1985 to 2001 Nintendo has launched many successful gaming products in the market and did good business. From television compatible gaming console to portable gaming device, Nintendo
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