How to Get Paid Twice for Everything You Do

How to Get Paid Twice for Everything You Do (Goran Ross)
Student's Name
Institutional Affiliation
Course Number and Name
Professor's Name
Due Date
How to Get Paid Twice for Everything You Do (Goran Ross)
This paper will entail and discuss Goran Roos's article titled, How to get paid twice for everything you do: integrated innovation management (Roos, 2011). Goran’s article discusses how integrated innovation can be utilized in management to yield twice the expected profit. The article emphasizes two forms of innovation: the first is technology-based, and the second type of innovation includes business-model. In particular, Goran argues that superior engineering is not the only innovation for businesses. Goran argues that business-model and integrating innovations is the best way for businesses to attain and remain competitive. Goran additionally argues that most businesses fail by adopting technology-based innovation and leaving out the business-model innovation (Roos, 2011). After summarizing Goran’s main points, I shall claim that superior engineering has helped most organizations quickly win in terms of the profit pool share. Additionally, not all firms have to keep up with the business model and its innovation effectiveness to remain competitive. In conclusion, I shall show that technology-based and business-based models are essential in business. However, still, there are other strategies to keep business competitive and get twice the profit compared to other businesses in the market.
In summary, Roos (2011) provides evidence-based information on the advantages of integrating innovation management in business. As stated from rankings made by Fortune magazine, over the last decade, the companies that share the top in the list integrated the use of a technology-based and business-based model. From the rankings, the top twenty businesses did not only benefit from the profits; the shareholder returns were double compared to other companies within the industries. Another evidence-based report is connected with a study conducted by Wall Street analysts: Jonah and Sommerlatte, indicating that companies with innovative models in their businesses have valued the market due to the increased profits.
Most organizations tend to be comfortable with value-creating innovation. Roos (2011) argues that in the 21st century, more companies want to adopt value-creating innovation to remain competitive and successful. The use of technology has been used for longer times and overlaps the existence of other innovative ideas. An example is the overlap of innovative technology on social media platforms, printed intelligence, cognitive science, and metamaterials. Roos (2011) also argues that technology-based innovation is essential in offering necessary opportunities for new value creation. Similarly, technology-based innovation provides a foundation that value appropriation can be built.
I disagr...