Rocket Innovation

Topics: Innovation, Creativity, User innovation Pages: 14 (4443 words) Published: October 7, 2013
Content Lists

“Rocket Myanmar”

1. Current innovative and creative management processes
The success of every organization highly depends on the novel creative and innovative ideas in highly competitive environments. Creativity is the ability to generate innovative ideas and obvious them from thought into reality. Innovation means applying those thoughts in to work. Innovations don’t always have to be completely new ideas. The term innovation rather means the implementation of something new and results in a noticeable improvement for the user. There are different forms of corporate innovations: Product innovation, Process innovation, Market innovation, Structural innovation and Cultural innovation. (Disselkamp, 2005). A commonly used classification for innovations is the product/service and process. Product innovations are tangible objects that deliver a new level of performance to adopting users. Service innovations are intangible methods of serving users with a new level of performance. Process innovations deliver a new level of performance to the method by which a company operates. Process innovations can increase bottom-line profitability, reduce costs, improve efficiency, improve productivity, and/or increase employee job satisfaction. Organisation takes the support of innovative management in terms of running their business and serves their customers in a better and innovative ways. Portfolio management is the tool that creates understanding of innovative management better. Portfolio Management Processes consists of three components – incremental, radical and fundamental. Incremental innovation is the refinement, improvement, and exploitation of existing innovations. Radical innovations can define the innovations with features offering dramatic improvements in performance or cost, which result in transformation of existing markets or creation of new ones. “Rocket Myanmar” is first mover of Internet business industry in Myanmar. It was founded in 2012 with around 40 employees by U Myo Min- the CEO of the business. Rocket currently operates four websites: Ads.com.mm (No. 1 Marketplace of Myanmar with Free Classifieds), House.com.mm (All Housing and Real Estate for Sale and Rent in Yangon, Mandalay and the other cities), Motors.com.mm (Find all Cars For Sale in Myanmar) and Work.com.mm (The Premier Job Site of Myanmar). Rocket has got its hands on three prime URLs with massive SEO potential. Jobs, automobiles and general e-commerce are big areas of interest and spending for consumers on Wed access. The Internet is not yet widely used in the country with as few as 130,000 users among the 60 million populations and therefore the goods on sale target affluent consumers. Nevertheless, the firm aims to become the number 1 online business in Myanmar Internet Business Industry. Consumers on Web access in the country are not likely to be short on cash, or desire for such material goods. Rocket is now trying to look up all necessary improvements in concert with the significant increase of internet user and their demands. In current, there is a development in banking industry and in this intervening time, the firm try to establish the buying and selling process through online payment systems with Vista or Master cards especially in Ads.com.mm. To maintain these products innovate or sustainability, Rocket believes in the systematic approach and to have matured employees who understand the needs and requirement of the organisation.

2. Leading others to positively embrace the innovation and change Leadership can be described as “a process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task". Leadership consists many of the qualities from which employees learn and follow the same such as integration contributes internal values and external actions, management which passes success in to organisation, humility and openness to contribute the innovative...

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Andrews, Peter., 2002. “Time for change: Innovation in an era of overtime and budget
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Anon., 2006. Five barriers to innovation. [Online]
Available at: http://www-935.ibm.com/services/uk/igs/pdf/g510-6342-00-5barriers-etr.pdf
Anon., 2011. Rocket Myanmar Classifieds. [Online]
Available at: http://www.linkedin.com/company/rocket-myanmar-classifieds/products?trk=tabs_biz_product
Drucker P F., 2007 - Innovation and Entrepreneurship, Butterworth-Heinemann.
Thussu D K., 2006. International Communication: Continuty and Chnage. 2nd ed. : Hodder Education.
Remoreras, G., 2009. Incremental Change vs. Radical Improvement. [Online]
Available at: http://glennremoreras.com/2009/09/01/design-innovation/
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