Organizational_Impact

RUNNING HEAD: Organizational Impact Organizational Impact Innovation is what gives a company the competitive advantage to be successful in a given industry. Not only does innovation benefit a company’s success, innovation has an impact on a firm’s strategy, processes, services and products offered by the organization. The author takes a look into, and provides support of Fed-Ex, Target, and Coca-Cola’s impact on organizational innovation. Federal Express (FedEx)- Service According to the FedEx website (2009), “FedEx was built upon innovation and it continues to be an integral part of the FedEx culture and business strategy. Our commitment to innovation propels the development of ideas, products and services that empower our customers to grow their businesses around the world”(Our Company, para. 1). For the last 30 years, FedEx has distinguished itself as the leader of overnight or just in time delivery and remains committed to founder Fred Smith’s vision of focus on innovation. Fred Smith believed information regarding the package was as important if not more important than the package itself. One of the early innovations of Fed Ex was the ability of the customer to track a package in real time. In providing the real time technology, Fed Ex has enabled the customer to streamline delivery efficiencies as well as improving supply chain demands. Additionally, this real time access allows FedEx and the customer to remain connected to global markets. FedEx corporate encourages all team members to participate in brainstorming on innovating ideas. Presently, FedEx continues to innovate itself through the Memphis based FedEx Lab. The FedEx Lab enables a centralized team to collaborate with other teams to develop ideas of innovation, which allows FedEx to remain fluid with creativity and remain competitive. Target-Retail In 1979, Target celebrated the company’s first billion dollar milestone, and Target continues its celebrated success well into 2009 enjoying sales well over $50 billion. Target’s greatest innovation is the organization’s ability to adapt. Some of the company’s adaptive maneuvers include the cutting edge pop-up store in the heart of Manhattan, sophisticated private label lines of grocery, environmentally conscious Organic certification and exclusive designer lines of apparel, all of which have enabled Target to remain a retail force to reckon with. The most recent corporate strategies include new store openings in Alaska and Hawaii which both embrace the local communities and cater specifically to the respective markets. For example, the Alaskan site includes sections with fishing equipment, cold weather gear and clothing. According to Target’s official site (2009), “Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less. ® brand promise. To support our mission, we are guided by our commitments to great value, the community, diversity and the environment” (Mission, para. 1). Target continues to innovate through its’ commitment to the mission statement. Additionally, Target remains true to its core values and continues to be flexibly competitive with other large box retailers. Coca Cola- Manufacturing The Coca Cola web site states (2009), “The history of Coca-Cola is a story of special moments. Moments those originated with Dr. Pemberton in Atlanta and have been multiplied billions of times around the world. Each day, Coca-Cola strengthens its position as the world's soft drink” (Beverage variety, para. 5). Currently, Coca Cola enjoys world appeal and sales well over $100 billion annually. However, Coca-Cola would have never become the soft drink juggernaut without creative innovation fueled by strategic processes, various product lines and services. Simplicity (along with the original recipe) has propelled Coca-Cola into over 200 countries. The Atlanta, Georgia headquartered Coca-Cola serves as an umbrella company for nearly 450 brands which are supported globally by a network of bottling production and distribution. Having a global footprint has directly affected Coca-Cola’s level of environmental responsibility. Processes involving water usage/treatment, recycled packaging, low environmental impact and good-will promotion within communities are vital to Coca-Cola’s positive image of sustainability. In 2007, Coca-Cola developed the Coca-Cola Zero, which has quickly become one of the fastest growing successes in the diet soda industry; reinforcing Coca-Cola’s ability to innovate and to try new concepts. Strategic planning, global processes, and innovative products have all contributed to Coca-Cola’s success. Conclusion Innovation impacts several areas of an organization and must be understood by team members and management. FedEx, Target and Coca-Cola all clearly understand the importance of innovation and remaining flexible within a changing market, improving or introducing new concepts/products and maintaining core values. Innovation is the key to success in the 21st Century. Fed Ex, Target and Coca-Cola are no strangers to the concept of innovate or die. In the coming years, companies will innovate or assimilate. It is not foreseeable that any one of these three companies will be among the assimilated. With any amount of luck, they could innovate their way into the 22nd Century. References Coca-Cola. (2009). Products. Retrieved from http://www.thecoca-colacompany.com/brands/index.html FedEx. (2009). About FedEx. Retrieved from http://about.fedex.designcdt.com/our_company/fedex_innovation Target. (2009). Our mission. Retrieved from http://sites.target.com/site/en/company/page.jsp'contentId=WCMP04-031699