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lunedì 3 giugno 2024 17:08 1. Innovation Strategies Innovation is essential for maintaining a market presence over the long term. A company faces a criticalchoice: innovate or perish. The current era is characterized by constant change, and failing to stay ahead ofthis curve leads to being outpaced by competitors. This concept has been crucial for decades and remainsrelevant today. Organizational Challenges On one hand, innovation management is necessary, but on the other hand, people and organizations aretypically resistant to change. Organizations are built for stability, providing a sense of security. This resistanceto change is evident in historical examples, such as comparing the Dow Jones Index from 1900 to 2000. Out ofthe 250 most significant companies in the year 1900 to those in the year 2000, only General Electric (GE)survived into the 21st century. The remaining 249 either failed, merged with others, or vanished, but theywere not present in the year 2000. GE's longevity is attributed to its founder, Thomas Edison, who was notonly a prominent entrepreneur but also the mastermind behind numerous groundbreaking innovationsrelated to electricity, such as the microphone and lenses. Over time, GE diversified into various industries,demonstrating remarkable agility in reallocating resources, competencies, and management attention acrossdifferent opportunities, making them pioneers in entrepreneurial management thinking. The introduction ofbusiness units and strategic business units by Arthur D. Little helped clarify the company's main areas of focusand bring order to its operations. Consequently, GE emerged as the sole company to successfully implementsuch a strategy. Therefore, GE's founding principles differed from traditional approaches. The Need for New Models…