Innovation: Definition by Teleflex

Subject: Company Information
Pages: 2
Words: 374
Reading time:
2 min

In line with the information presented by Daft and Armstrong, it may be concluded that the key definition of innovation at Teleflex is the ability to regain and maintain a strong reputation in the marketplace. Even though the company does not seem to always come with overkill initiatives, their systems are almost always the most sophisticated in the industry, which positively distinguishes them from the competition.

More to say, organizational decision-making at Teleflex is what allows the company to settle arguments on the development costs and overcome the challenges related to how existing resources are allocated. Another side of innovation at Teleflex is the willingness of the CEO to take risks and full responsibility for what occurs after their actions. The company does not pay a lot of attention to skepticism and mostly chooses to utilize well-proven technologies from time to time in order to retain its reputation and gain better insights into what could be the next potential areas of investment.

From the point of view of marketing, innovation for Teleflex could also be described as a constant willingness to come up with products that would satisfy customers in the first place. The fundamental idea related to the process of innovation at Teleflex is the management’s vigilance in terms of technologies that are used by the organization when it comes to product development and promotion. Therefore, as product developers, Teleflex is an organization that mostly builds its opportunities around the existing technology and tries to strengthen it by any means.

The company could be claimed to be somewhat conservative in terms of its approach to business because the management does not really look into inventing anything new while ensuring that Teleflex engineering prospects are looking good for the company. Daft and Armstrong also claimed throughout the case study that Teleflex defined one of its core business objectives as the ability to resolve consumers’ problems, meaning that they did not really need breakthrough innovation to appeal to the biggest possible customer base they could reach out to daily. Teleflex never hesitated to gain more insight into the common customer profiles and support innovation with the help of consumer feedback.