Only the best manufacturers successfully compete with the large
multinational corporations. This means that you need to be among the
very best entrepreneurs not only to succeed but to survive on today’s
market which is marked by the cut-throat competition. There are several
important differences between successful business owners who continue to
grow and those that stagnate instead of expanding their business. And
one of the main differences between both types of entrepreneurs is
innovation.
The importance of innovation in manufacturing cannot be emphasized
enough. It does not only refer to production of innovative products that
are different from those offered by the competition but it also refers
to innovative and creative approach to production processes and
advertisement. In fact, innovation plays the key role in all levels of
manufacturing and even the economy itself. Globalization and tough
competition force both small business owners and multinational
corporations to continue to “reinvent“ themselves as well as their
products in order to retain or gain a share on the market because the
customers do not easily give up their favourite products and try
something new unless they think that the new product may offer them more
value for their money. The key to success is therefore to make your
product stand out on the market which can be achieved only through
innovative and creative approach to manufacturing.
Innovation is not just about offering the customers new and quality
products for the same or even lower price but to offer something
different without increasing the expenses for production processes. For
that reason innovation plays an important role in both production
processes and management. All successful companies stimulate creativity
and innovation in all their employees from product developers to workers
at assembly lines because they are well aware of the potentials of
every human. There are several ways to create an innovative and creative
working environment but the most important of all is to motivate the
employees to share their ideas with the company leadership.
Innovative approach to advertising is just as important as innovation
in product development and manufacturing processes because the days
when the quality spoke for itself are long gone. With so many products
available, the customers tend to choose those they know and those that
seem to offer them more for their money. This means that your product
must recognizable and attractive to the customers which requires well
thought through and well led marketing campaign in order to become
visible in the first place.
In the end, it is important to keep in mind that innovation carries
some risks despite the fact that it is inevitable for success of every
manufacturing business. Simply offering something new and different from
comparable products does not always bring the desired results.
Nevertheless, it is a risk that must be taken by every entrepreneur who
wants to succeed because those who are not willing to take that risk
will grow at a much slower pace or will not be able to expand their
business outside their local communities at all.
sumber : http://www.manufacturingadvice.org.uk/importance-of-innovation-in-manufacturing.html
