Innovation is the way in which an idea changes from its current form to a more advanced status while adding up its value. Any innovation must have economic value and addresses specific desires of man. Innovation is not accidental but the intended application of the idea to come you with something better than what is available. Change can lead to better service delivery or better good produced (Peter, 2002).

Importance of innovation

Innovation is significant in our day to day activities. Some of the significance of change Help problem-solving. Human life is full of problems that he always desire to be solved, but without innovation, it would be hectic to answer them, for example, today due to the invention of mobile phone the problem of communication regardless of the distance is solved

· Responding to customers' needs. The desire to have better things have led to more innovation to meet the demands of the customer at the right time. For example today a phone does more work than just communication which was its first intention

Globalization. The pressure has always been to create a world of oneness this can only be done through the innovations. People want to know what is happening on the other side of the planet and this possible because of novelty. One can traverse the whole universe within a short period courtesy of the ongoing innovation (Peter, 2002).

Competitive advantage is the ability to do something better than your competitors. Innovation matters as it is the driving force that makes life better, without innovation life can be very hectic. The innovation has relieved man from some of the hard tasked he used to do

There are four essential elements of innovation (Peter, 2002).

1-Collaboration.

For any success to realize people must join hand towards a specific idea. There are different people with different views when they come together a product of their minds is excellent. Collaboration is a heavy tasked and individuals must swallow their pride and work together. The competition among people sometimes makes it hard for people to agree to work together. Therefore, there must be a unifying figure for a successful project (Gary, 2015).

2-Ideation

Collaboration is one thing and having an idea is another thing before people come together there must be an idea or an agenda to be deliberated upon. It can be an idea which exists and needs to be made better or an entirely new idea. The ideas that different people have must be fused so that it stands as one before being developed. A car was a combined idea from various people that came up to produce the broad idea into one (Gary, 2015).

3-Implementation

Ideas left wild can never bring any change, so it is the ideas put together that makes it a substance of honor. What causes that difference is putting the plans to use and evaluate what comes out of it. One the ideas are implemented it will be easy to identify its strengths, and weaknesses then work on it to develop an improved service of good to help the man as it is the main reason for all the researchers and innovations (McCann, 2012).

4-Value creation

Innovation must add value to the existing system to merit being called change. The idea to be developed and implemented must be one that moves further from where the current situation is to be helpful to man. In the companies, they come up with new brands that are different from the products they already have. For example, in the mobile sector, the development to touch phone was an idea which came to replace the phones with the buttons. A plan will only be admitted to the market if it comes with additional quality.

There are several types of innovation, and we shall highlight four of those who are Breakthrough, disruptive, basic research and sustaining change (McCann, 2012).

Challenges in innovation

Some challenges face innovation in the world today. One of such problems in the inadequacy of resources to finance the innovative idea. Most of that whop have ideas sometimes are forced to abandon their ideas at the early stage. The organizations are not willing to stretch their finances to fund a plan but prefer an already developed idea. For the firms that have embraced innovation, it is always a challenge because it affects the morale of some workers since the work that they were doing has now been taken over by technology. Another problem is the cost o introducing innovations as some workers will oppose it and make it thus a loss to the organization. Innovation is also finding challenge in those who believe in the old method and fear trying the new ways to do things. Once one is over dependent on an idea, it becomes a challenge to change the person (McCann, 2012).

The firms that are left out and prefer to go the old style are not favored either since it eliminates them out of the competition. Innovation brings easy to work, and it lowers the workforce. A firm with old methods will spend more on labor than a firm with the current ideas. The work output is high for the company with the advanced technology, with high production the result is top, and so is the profits. Failure to embrace technology is like knocking a firm out of the industry. Quick response in times of emergency and this saves both lives and property, and it is only for the firms that are technologically advanced (Randall, 2005).

There are five stages or process that an innovation undergoes to become a noble project

Mobilization and generation of idea

An idea can emanate from scratch or the existing ones that only need to be made better. After the agreement on the concept then it now time to collect the relevant information on how the ideas can be made real rather than the vague details lying in mind. At this stage, different people come with a suggestion which is recorded then scrutiny is done on the viability of the proposals. The recommendations are streamlined until only the essentials are left on record (Randall, 2005). Table 1

Screening and advocacy

The gathered ideas are now evaluated to find out which one comes up with the best solution to the problem at stake or the one with the most benefits. The designs are now fine-tuned into one so that the area of focus is reduced and perfection increases. All the proponents of the different ideas are given an opportunity to highlight more on their ideas then the team comes up with one unified idea and approach (Randall, 2005). Table 2

Experimenting stage

The developed idea is put to trial to see its effectiveness and to gauge its strength and weaknesses. This is where an idea can be tested to find out if it meets the threshold of innovation. It can go on for an extended period as adjustments are also made to improve its quality. During innovative stage ideas are gathered in the field on areas to grow and how the customer would want it (Alex k, & Holger, 2017). Table 3

Marketing or commercializing

An idea ones developed the aim is to release it to the market to attain the purpose for which it was made. The market might have a similar product or service, so it takes the initiative of the developers to reach the markets and explain why theirs is the best alternative. The customers are now persuaded to embrace the new idea. The price must also be pocket-friendly compared to the existing prices in the market (Alex k, & Holger, 2017). Table 4

Implementation and diffusion

This is the inclusion of the new idea in into the organizational system. This can be done by taking to the members of the organization on the new system and how it shall work. This includes the effect on the workforce and the remedies of its inclusion. If this is done, the worker will adjust fast to on corporate the new idea into their system (Alex k, & Holger, 2017). Table 5

Culture

Each organization has its own culture of operation. Some firm a new idea is discussed by the workers who are directly affected by the new system. In such structure, new plans are easy to implement without failure because all feel they are part and parcel of the project. In other firms of up-down approach, ideas are brought with directives of implementation regardless of its effect on the company or employee. Such firms are prone to failure in their new ideas (Marc, Nathaniel & Erik, 2005).

New ideas and innovation is the way to go in a continuously changing world. One can open up to the new ideas by reading the benefits that have been brought by modernization. All ideas are implementable so long as consultation is done (Marc, Nathaniel & Erik, 2005).

Diagrams:

1.Generation and Mobilization

Table 1

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Strategic Management