Analysis of Innovation at Panasonic Research Paper

Analysis of Innovation at Panasonic - Research Paper Example It promotes a very environmentally friendly image which is a positive and helpful point in promotional activities (Forbes, 2011; Panasonic Website, 2011). When discussing the company’s rich profile of successful products even in today’s competitive world with equally good competitors like Sony, Samsung, Toshiba and Canon, Panasonic has been a very technologically sound and growing firm with consistent improvement and innovation in its products. Panasonic owes much of its success to it Research and Development Centre which has helped it in creating technology oriented products that were a success. Some of these products include SD Memory cards and DVDs. Their Usability Centers established all over the world ensure that the products features and functionality is perfectly in line with the expectations of the company and the consumer. With the help of these, the products that are sold to the final user are competitive and successful in terms of their usage. Panasonic has b een successful at gauging consumer insight and boosting sales due to its impressive technological advancements, producing products that amaze consumers and competitors in the technological industry (Panasonic Annual Report, 2011; Panasonic Website, 2011). ... Panasonic wants to reduce wastage and increase efficiency in its processes. It wants to reduce its costs and believes that recycling products will bring an environmental protection to the world as a whole. Panasonic is showing its initiatives that it has taken for its â€Å"Green Business Innovation† for conservation of energy and efficiently utilizing resources available. Panasonic wants to convert most of this world into a 3D phenomenon which includes personal and professional lives of people. The company has set up a Panasonic Booth for showcasing its plans for becoming the best Green Business Innovator by 2018. The booth constitutes of an Eco Corner which emphasizes on the creation of solutions based on energy conservation usage and storage. The ultimate goal of the eco corner is to promote a lifestyle which is ‘greener’. The Panasonic booth also has a 3D HD presentation wall that airs the full line of products of Panasonic which are 3D solutions, and appear t o be a great experience for those who visit. There is also a Digital Imagery corner and Television Internet service providers followed by a Home theatre corner, AV Solutions and Energy Solutions Zone, all promoting Green Business Innovation. The company’s Annual Report 2011 has shown a steady increase in its Sales all over the world owing to the cutting edge technology usage and its effective promotion. The company was involved in aggressive selling throughout the year and made its way because of its latest digital AVC Networks that constitute of the latest technology products such as camcorders, digital cameras, DVDs, Blue ray technology and other recording/storage items.