Innovation and patents as a business success factor

Purpose The purpose of this paper is to expose the impact of innovation and patent registration, as a strategy that contributes to business success in the current competitive and globalized market conditions. Design/methodology/approach This paper presents a study on the innovation and contribution of the patent registry in the growth of economic sales of 1,746 companies in the Colombian manufacturing sector, whose applied methodology was a statistical correlation analysis and a binary logistic regression. Findings The results reveal a positive relationship among incremental product innovations with the achievement of sales success, although it is evident that patent registration negatively influences business success as a factor in innovation. Originality/value This study allows organizations to understand the importance of developing innovation processes and patent registration as a competitive factor that drives sales growth and success.

Retail Enterprise Management

The basis of every business success is sales, the basic task is to create a certain situation and environment in which sellers and buyers will be satisfied, every successful business is based on customer satisfaction. This paper deals with the issue of management in retail companies, i.e., the transition from small shops to large supermarkets that can meet all today’s needs. The aim of this paper is to explore how to achieve efficient business with the optimization of the range and optimize the use of space, and the purpose of the research is to present a set of activities that affect sales success, which include care of the range, positions within the point of sale, promotions, prices and more. The conclusions of the research speak about the connection between the observed variables that can be useful in making effective decisions. The paper tests the set hypothesis where H0- Management in retail companies can achieve faster and higher purchase of individual items by end consumers.

Use of effectuation by established micro businesses: short-term gain, long-term pain?

Purpose The purpose of this study is to investigate the efficacy and impact of effectual logic used by owner-managers of established micro firms when making buying decisions. Design/methodology/approach Semi-structured interviews were conducted with 13 owner-managers of micro firms, concerning their decision-making processes when selecting suppliers. Interviews were transcribed verbatim, then analysed thematically. Findings This study contributes to the literature in respect of effectuation by considering its use by a micro firm owner-manager to develop relationships with trusted suppliers. The findings suggest effectuation positively promotes flexibility and reduces loss potential, thus positively affecting the price that the owner-manager is willing to pay. Furthermore, it also appears to necessitate effectual selling, with an ongoing iterative process, in which effectual selling leads to effectual buying. In contrast to extant literature, this study suggests that application of effectual logic to buying and selling decisions, by a micro firm owner-manager can create, rather than reduce, uncertainty. Research limitations/implications This study is based on single interviews with a sample of owner-managers of micro firms that operate within the same industry and within a single country. The subjective nature of qualitative research, homogeneity and size of sample may prevent generalisation of the findings. Practical implications Effectual buying and selling appears to provide a micro firm with the ability to engage with flexible suppliers so as to offer a heterogeneous array of products and services to its customers, thus promoting sales success. Yet, the lack of homogeneity of customer needs and need for supplier flexibility may lead to overall costs being greater than those that could be achieved if the micro firm specialised in a smaller range of products and services and developed internal resources to meet the needs of its customers. Originality/value In contrast to extant literature that states that effectuation is a way to reduce uncertainty to a level at which a decision can be made, this study suggests that continual use of effectual logic by owner-managers of micro firms when making buying and selling decisions can instead create more uncertainty in the longer term.

Spotlight on design: strengthening innovation for more product and service sales

Purpose The purpose of this paper is to determine whether and how managing three aspects of design – the strategic role of design, outsourcing of design and organizational resistance to design – contribute to new product and service sales success. Design/methodology/approach The study was conducted through an online survey of US-based innovation managers. Measures were developed from past literature. In total, 324 managers with at least two years of innovation experience in diverse industries completed the survey. The collected data was checked for measurement reliability and then was used to test a model through regression analyses. Findings The model was significant, and each of the three aspects of design management was found to influence innovation sales in unique ways. The strategic role enhances sales, organizational resistance impedes sales and outsourcing strengthens then lowers sales. It makes no difference in results if the firms are manufacturers or service providers, indicating the model is robust across industries. Practical implications Strategic (design role), operational (design outsourcing) and cultural (design resistance) elements of design management matter to innovation. To better ensure strong new product and service sales, firms should elevate the role of design in innovation, apply a combined approach of externalizing and internalizing the design function and reduce organizational resistance to design. Originality/value This paper is one of the first to empirically examine the innovation impacts of design management, specifically determining the effects of design’s strategic importance, limits when outsourced and organization resistance on new product and service sales.

The Impact of Product Knowledge and Product Involvement to Repurchase Intention for Tupperware Products among Housewives in Surabaya, Indonesia

The number of consumers can be used as a measuring tool in determining the company's sales success. Repurchase intention reflects the needs of consumers in repeat purchasing patterns. Factors that can increase repurchase intention are knowledge of products and consumer involvement with products. Product knowledge can increase repurchase intention because with the information about the quality of the product can trigger repeat purchases. Also, product involvement can increase repurchase intention because the consumers can evaluate the products directly and decide to purchase another product that has met their needs This study aims to measure the effect of product knowledge on repurchase intention and the effect of product involvement on repurchase intention on Tupperware products for Surabaya market. The research is using a quantitative approach, and take a sample from housewives who reside in Surabaya. Data are collected through questionnaires distributed to 150 people. Only 102 questionnaires are valid. Then, the data are processed using SPSS. The results show that product knowledge affects repurchase intention and product involvement significantly affects repurchase intention in Tupperware products among housewives in Surabaya, Indonesia.

Modern Trends in Staff Management

Investment in human resources is an important factor in determining the competitiveness of each business unit. Without the right people, no organization would be able to function and further succeed in the market. People are an important element in the management of any business. The purpose of the article is to outline the importance of personnel management as a significant factor in sales success.