Innovation and Process Paper Research Example | Topics and Well Written Essays - 500 words

Innovation and Process - Research Paper Example It is also important that the organization understands the preferences and needs of its clients. This will help the organization produce a better strategy since they are aware of what their clients expect from them. Another crucial phase of innovation involves the establishment of relationships between an organization and its clients. Customers who have pleasant experiences at a store, for example, have high chances of coming back, as well as telling others about it. Customer retention is less costly than attracting new ones, which will impact on the organization. Yet another crucial phase involves the organization engaging in service recovery and continuous improvement. In the event of errors, the company has to be armed with a recovery plan that ensures the effect on the customer is minimal. Finally, the organization must seek out customer feedback regarding their products and ways to improve on them (Richards 2012). Kmart, as an organization, has struggled to remain competitive; nonetheless, it is in dire need of innovation and change. In this case, Kmart would benefit from applying the basic phases of innovation as a process. They could begin by strengthening relationships with their custom ers, which should give them information on what their customers’ preferences. This information can be collated by means of surveys, for example, during customer appreciation days. This, in turn, will be an advantage when segmenting their customer base and in enabling them to strategize on advertising and marketing. Finally, innovation should aid Kmart in a re-branding strategy that will give them a fresh start. To achieve their goals, Kmart will obviously have to employ innovative tools and techniques. One of these techniques is collaboration, whereby an individual comes up with an idea, which can then be created on by the team. To do this, Kmart requires brainstorming sessions for the team ideas. Refined ideas