The term of innovation is broadly discussed nowadays in both scientific and business societies. Not surprisingly, as to be innovative is the only way to stay competitive. The world is changing rapidly, and the consumer demand changes with it. In order to meet the demand, business has no other choice but to implement innovations, some of which may be successful, resulting in increased profits, while others may lead to a loss of the market sector. There are numerous research papers dedicated to the topic of innovation. This category includes both theoretical and case studies. In order to study the case of Polaris Industries Inc., we have picked several credible scholar sources in addition to the materials on the company web-site.
The article of Johanna Madrigal‐Sánchez and Henry Quesada‐Pineda “Innovation: Case Study among Wood, Energy, and Medical Firms” was written with a purpose to develop the most effective innovation practices. It compares and analyzes the process of innovation in different sectors. The study itself reviews plenty of literature on the issues of innovation. The authors also performed the field work, observing firms in the most and the less innovative sectors, and how the government of the USA encourages and measures innovations.
According to the researchers’ conclusion, innovations are vital for any corporation to achieve a sustainable gross, and even the firms of the less innovative spheres of the economy should adopt practices of the most innovative ones. They argue that after all it is a company that starts the process of innovation while the employee’s desire to innovate is taken as granted; however, in fact, it depends on many personal factors.
Michael Rosenblatt in his paper “The Use of Innovation Awards in the Public Sector: Individual and Organizational Perspectives” deals with the matter of innovation on the level of an employee of an innovative company. He states that innovations depend on the individual’s motivation. While there are two types of motivation, intrinsic and extrinsic, it is intrinsic that is positively linked to innovation. There is, however, little evidence that extrinsic motivation is negatively related to innovation. On the perspective of the entire organization, Rosenblatt indicates the difference between the private and public sectors in terms of different approaches towards innovation they provide. Another issue Rosenblatt deals with is the organizational structure of a company, which may both encourage and impede innovations.
Our final source is the web-site of Polaris Inc. It contains plenty of information useful for our case study, as the company’s policy, the list of its employees, and the catalog of products. The information on the site seems to be current, though there are no dates of authors’ names that may complicate the usage of the source in our paper and somehow make it less credible, although, it is possible to contact the employees of Polaris. Materials on the site emphasize the company’s focus on innovations.
In general, these sources seem to be enough for our research paper on the issue. The whole concept of innovation evolves and innovates itself; therefore, we have chosen the relatively new articles. These papers provide us with an understanding of the innovation process in several economy sectors and of matter of innovation in general. The process is still seemed to be misunderstood by many, and the variety of approaches complicates the issue even further.