Innovation and Creativity and Enterprise Research Paper - 1

Innovation and Creativity and Enterprise - Research Paper Example Through illustrations to back up this statement, the article shows how viable this notion by Schumpeter is; decades after its realisation. Emirates Airline is the national flight company of the emirates of Dubai that was established in 1985. The airline is located at Dubai International Airport and it also serves the United Arab Emirates. With regard to the number of passengers ferried, Emirates Airline is the largest airline globally and the fastest developing with expansions across all continents. The fleet largely comprises of Airbus and Boeing crafts. The Airbus A830 is the prime passenger carrier in the fleet. The flights cover various destinations around the world such as: Middle East, Africa, South Asia, North America, Europe and Australasia. The air shipping segment serves over 40 terminuses (Centre for Aviation). The airline industry in the Middle East, like anywhere else is subject to cyclical fluxes. Emirates Airline has experienced various hurdles and overcome them to gain its current standing. Technological and economical innovation are a part of the strategies assumed by the airline in a bid to stay ahead of the competition. Joseph Schumpeter acknowledged innovation as the critical dimension of economic development. According to Joseph, market power and entrepreneurial activities rely on innovation for them to flourish. The short lifespan of certain technologies is the catalyst that provokes development in various industrial fields for it creates a temporary monopoly in the market that the rivals compete to outdo. He believed that the innovation process was driven by major firms that spared no expense in research and development undertakings (McGraw 2007, pp. 4-6). The innovation theory formulated by Joseph has in varied forms been implemented by Emirates Airline in its brand positioning and market entry approaches. In the

Real chocolate company Essay Example | Topics and Well Written Essays - 2750 words

Real chocolate company - Essay Example The company sells its products through retail stores both company owned and franchised. It produces wide variety of chocolates (that caters to the different tastes of the customers) at the company owned factory and delivers the same, to stores in a cost effective manner. The products such as fudges and caramel apples are made within the store in order to maintain the freshness. The convenience and the suitable tastes of the products are directly correlated with the number of foot-falls in the stores and overall sales. The key stakeholders of the company include all franchisees, employees, company owners and customers. With the company deriving a 72 percent of revenues by selling the products to franchisees, the satisfaction of the franchisees stands crucial for the company in order to keep the sales growth intact in future years. Also, keeping abreast of the changing consumer preferences is becoming a must. While the company sales growth and financials appear sound, many smaller and similar sized companies having variety of product offerings, fast changing consumer eating habits with rising income levels, aggressive marketing strategies of market leaders, maturing and fragmented nature of the industry is posing challenges for the company to maintain its current growth. This report evaluates the various external and internal factors related to the company’s business, and presents a strategic solution for the current problem faced by the company. The analysis of the five competitive forces (suggested by Michael porter), viz. threat of new entrants, threat of substitution, bargaining power of buyers, bargaining power of suppliers, and rivalry among the existing companies, better explains the nature of confectionery industry and provides the basic road map to develop a competitive strategy for The Real Chocolate Company (Porter, 1998). The factors like, lack of