Custom Futures and Innovation Case Study essay paper sample
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With the span of increasing technology, globalization and increasing competition, businessmen always find it important to create and produce different products and services each day to meet the needs of the consumers. Meaning to say, consumers can always be assured that there will be new products and services being offered in the market. This might sound as an advantage for the consumers but it definitely is not good for the suppliers especially the Ford Motor Company. This is particularly true because of the fact that it will be force to go with the flow and ensure consumers that it, too, has something new to offer. The lack of new products will weaken the position of Ford Motor Company in the market (Perreault, 2006). People are always anxious for something new. They need new products and services as there are always new suppliers in the market. Hence, innovation must be used in order to ensure success. Innovation does not simply means creating new things but rather traverses into the establishment of new means to market and attain success. As the principle of economics goes, when there is high demand there should always be enough supplies to meet such demands (Kotter, 2000).