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Today’s competitive environment is getting more fierce with each passing day. To improve their competitiveness, companies are resorting to various ways and methods ranging from production management to quality and from 6 Sigma to just-in-time manufacturing. However, none of these methods is as effective as “innovation”, because nowadays goods and services seem to resemble each other all the more. Efforts like decreasing the profit rates as far as possible, achieving excellence in production or increasing the company’s productivity fail to create the desired competitive advantage. To remain afloat, companies must penetrate the market with products that are based on intellectual capital, create added value and are capable to challenge the competitors. That’s exactly what it means and what it takes to make innovation.
There are a large variety of long and short descriptions of innovation. Yet, among all these descriptions, the most effective definition of innovation in terms of practicality is that any novelty that can eventually be converted into cash can be defined as innovation.
In fact, research and development (R&D) and product development, which were introduced to the Turkish industry before innovation, are also part of innovation. Considering all these, innovation can be defined as a methodology or philosophy that systematizes the novelties created by knowledge, experience and skills in the classical sense, while reducing the random coincidences and increasing the success rates.
Although innovation is the most efficient method for increased competitiveness, there is not a single type of innovation. Certain companies need to introduce radical novelties to their products and services, whereas others need to adopt a rather gradual way of improvement. Certain companies must be corporate innovators, whereas others must innovate only their products because innovation on corporate level can be quite costly. Certain companies must engage in engineered R&D for innovation purposes, whereas others need to develop new products and services mainly for marketing purposes.
In this sense, Kordinat is offering innovation products and consultancy services that will fit the customers’ individual competitive strategies best.