A Critical Analysis regarding the Innovation Management Practices Adopted by Apple Inc. and Haier Group Free Essay Example, 3500 words

The company has shown a constant openness to new ideas, as they believe that new ideas are not only limited to new product development but are equally significant for the improvement of business processes. The firm believes in this principle has produced highly satisfactory results for the company and by the end of the year 2010. The number of patents and innovation are highest for this company among the Chinese manufacturers (Yuanyuan 2011). A series of initiatives have been taken by the company to promote innovation and creativity at the workplace. All these initiatives of the company revolve around quality and customer satisfaction. An example shows how the company has emphasized upon providing high quality to consumers when it decided to set a quality benchmark even above the Japanese Industrial Standard (JIS). As per the guidelines of JIS, the return-repair ratio for refrigerator should be less than 0.6%, as against this stringent benchmark of JIS, the company decided to set th e same ratio at the level of 0.4%. As a result of this decision the company in the year 1988, Haier was awarded China s National Quality Gold Medal. We will write a custom essay sample on A Critical Analysis regarding the Innovation Management Practices Adopted by Apple Inc. and Haier Group or any topic specifically for you Only $17.96 $11.86/page The management philosophy of OEC was introduced in the year 1986 and became famous with the name of All around Optimized Management Approach (TU and YUAN 2010). The OEC plan was driven by the purpose of effective management of everyday business processes and enabled Haier in evaluating the appropriateness of the plan in terms of produced outcomes.