The paper “ Managing Innovation and Continuous Improvement - Innovation’ s Holy Grail by Prahalad and Mashelkar” is a well-turned variant of the article on management. Innovation means something new in a business, which is substantially different. This change should add some value to both the product value, the customer’ s value, and the producer’ s value. According to C. K Prahalad and R. A Mashelkar in their article Innovation’ s Holy Grail innovation is a process built on the assumption of affluence and abundance. As they put it, both the rich and the poor in developing and developed countries looking for alternative ways by applying innovation in order to reduce the prices of the basic commodities (Gupta, 2007, pp.
78-150). This is achieved by demanding environmentally friendly products and services. They insist that innovation today should be based on affordability and sustainability but not on the premium pricing and abundance. Innovation calls for companies to manufacture more using the minimum available resources and cost and sell the products at a lower price for more people to afford. This will call for the need to employ more talent since it will lead to a more complex knowledge network.
As a human resource management student, the innovation issue is of paramount importance since it requires trained individuals to introduce new and unique ideas to the market. Innovative ideas will also help in organizational performance which is one of the duties of an HR manager (Govindarajan & Trimble 2010. Pp. 99- 146)One of the ideas is to use the clinical and qualitative data to develop the aim plans that will pass the pre-clinical and clinical research tests. In resource management, the important goal is to develop innovative ideas that will go beyond the expectation of the innovator.
This can be achieved by using the alternative means, with the same end result but the cost is cheaper which will reflect a relief to the customers and the company at large. Another idea is to diversify the innovation criteria, whereby the innovator has to use a wide range of innovation skills like the technology and creating room for allowing new ideas.
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Gupta, P., 2007 Business Innovation in the 21st Century. Amazon: Book Surge Publishing
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Schuler, A. J, Psy. D. 2002. Business Creativity and Innovation: How to Build an Innovative Culture. Virginia. Schuler Solutions, Inc.
Singh, Y. Charu, A. & Bhatnagar, A. 2011. Changing face of entrepreneurship in India through innovation. India. Shriram Institute of Management and Technology.
Sistare. H, Howze. M & Buss. T. 2008. Innovations in Human Resource Management: Getting the Public's Work Done in the 21st Century. New York. M.E. Sharpe.