Innovation Strategy: A Realistic Example in Bangladesh Mobile Telecommunication Service Marketing

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  • 8/11/2019 Innovation Strategy: A Realistic Example in Bangladesh Mobile Telecommunication Service Marketing

    1/11

    ISSN1817-5090

    49

    The Cost and ManagementVol. 35 No. 1

    Janua!-"e#ua!$ %007 &&. 49-58

    Innovation Strategy:ARealisticExampleinBangladesh

    MobileTelecommunication ServiceMarketing

    Sa'e (a)*+ ,hmed (atan

    Md. Sha*)ul ,lam

    ,#u Sa leh Md. Sohel--/aman

    Abstract: Innovation is a widely used strategy across industries in many countries.It is now a t the top of the agenda of the mobile telecommunication industry inBangladesh. A great deal of experiment is going on right this moment in thisindustry. This paper will show how innovation strategy has been pursued by twomajor players , which has changed the competitive strategy of the competit ors.We are familiar with the term tangible goods with accompanying services!, and

    major service with accompanying minor goods and services! where the mainfocus goes on physical product and service respectively. In this study we shall

    see that how these concepts changes due to the innovative mar"eting strategy ofthe mar"et players. We shall also see how the mar"et status of the players changes

    as the strategy is implemented. #urthermore, from this study we shall learn how

    we can manipulate innovation strategy more effectively. The context of this study

    is the developing country. The role of the economy of developing countries isbecoming increasingly important for the world economy. It is assumed that thefindings and understanding of this research will help the organi$ations indeveloping countries to develop their effective business strategy in order to achievesustainable competitive advantage.

    Keywords: Innovation strategy, competitive advantage, vertical integration,sustainability, and %&% culture.

    Introduction

    Noada!s se*2e *s 2ont*#ut*ng to so2*et! and e2onom! than ee #e)oe. It *s not e2e&t*on

    *n angladesh$ too. The 2ont*#ut*on o) se*2e se2to toads the e2onom*2 a2t**t*es *s

    *n2eas*ng gaduall!. In e2ent t*mes$ mo#*le tele2ommun*2at*on se2to *s one o) the ma+o

    2ont*#utos *n tems o) eenues$ em&lo!ments and *n)astu2 tue deelo&ment. ! natue

    se*2e *s a 2om&le 2om&os*t*on$ h*2h *s e! d*))*2ult to a#sta2t$ at*2ulate and standad*e.

    Thee)oe$ se*2e ogan*at*ons ae t!*ng to &o*de moe alue to the 2ustomes *n *nnoat*e

    a!s to ma*nta*n the* 2om&et*t*e adantage. It *s o)ten )ound that the se*2e &o*des *n

    man! deelo&*ng 2ount*es do not see the* 2ustomes &o&el!. Thee ae seeal easons

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    'atan, Alam and (aman

    50 The Cost and Management$ Janua!-"e#ua!$ %007

    %ar"er 'afij Ahmed 'atan is a )ecturer, %chool of Business, *nited International *niversity +*I*, -ha"a &r. &d. %hariful Alam and &r.

    Abu %aleh &d. %ohel/*$/(aman are &BA student and 0h.-. %tudent respectively at %chool of &anagement, Wuhan *niversity of Technology,

    Wuhan, 1ubei, 0eoples 'epublic of 2hina.

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    ISSN1817-5090

    #eh*nd that #eha*o$ su2h as 2onsumes ae not edu2ated and aae a#out the* *ght and

    &**lege$ la2' o) &o)ess*onal*sm )om the )*ms s*de$ la2' o) 2om&et*t*eness and so on. Th*s

    s2ena*o *s e6uall! tue *n 2ase o) angladesh mo#*le tele2ommun*2at*on *ndus t!.

    b!ective and Scope

    The o#+e2t*e o) th*s &a&e *s to h*ghl*ght the &a2t*2e o) *nnoat*on stateg! *n mo#*le

    tele2ommun*2at*on *ndust! *n angladesh. ,t the same t*me$ to *dent*)! the 2hallenges and

    shot2om*ngs *n the *m&lementat*on o) *nnoat*on stateg! *n th*s se2to. "om the )*nd*ngs o)

    th*s stud!$ ogan*at*ons *n th*s se2to *ll #e a#le to )*nd some e))e2t*e gu*del*nes *n 2on)*gu*ng

    the* *nnoat*on s2heme )o the* 2om&et*t*e adantage.

    Methodology

    "o th*s stud! ma*nl! se2onda! data and *n)omat*on hae #een used. In some 2ases &*ma!

    *n)omat*on has #een used to 2la*)! the de2*s*on o) *nnoat*e s*de. Se2onda! data and

    *n)omat*on hae #een 2olle2ted )om *ntenet$ nes&a&e$ e*st*ng l*teatue$ maga*nes et2.

    esonal o#seat*on has #een a 'e! sou2e )o data al*d*t! and el*a#*l*t!. Somet*mes &esonal

    *nte*e has #een 2ondu2ted *th a*ous em&lo!ees o) d*))eent mo#*le &hone 2om&an*es.

    Va*ous mass med*a adet *s*ng ae 2losel! o#seed and ta'*ng the ea2t*on o) *ees )o

    2eat*e adet*s*ng.

    "oods and Services: ur #erceptions

    The d*))een2e #eteen goods and se*2es *s not ala!s &e2*sel! 2lea. )ten *t *s e! d*))*2ult

    to ma'e a &o&e d*st *n2t*on #eteen these 2on2e&ts. "o ou 2onen *en2e *t *s e6u*ed to

    )oste a )*m *e so that the *nte&etat*on and 2omment 2an #e made )om a &at*2ula &o*nto)*e. In s&*te o) the 2on)us*on$ the )ollo*ng de)*n*t*ons ma! &o*de a sound stat*ng &o*nt

    to undestand the 2on2e&t o) goods and se*2es. In geneal$ goods 2an #e de)*ned as o#+e2ts$

    de*2es$ o th*ngs$ heeas se*2es 2an #e de)*ned as deeds$ e))ots$ o &e)oman2es e!$

    1980:%4-%9;. I) e ae 2lea enough to d*))eent*ate the se*2e then e shall see that se*2e

    *m&eat*e

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    Innovation %trategy3A 'ealistic 4xample in Bangladesh &obile Telecommunication %ervice &ar"eting

    The Cost and Management$ Janua!-"e#ua!$ %007 51

    @ameenhone$ the lagest mo#*le o&eato *n the 2ount!$ ea2hed 10.7? m*ll*on at the end

    o) %00? *th the add*t*on o) neal! 5.%% m*ll*on 2ustomes *n a !ea$ h*le the se2ond lagest

    o&eato $ ,'Tel$ a26u*ed ? m*ll*on su#s2 *#es$ add*ng some 3.93 m*ll*on to *ts total at thesame t*me.

    The th*d lagest o&eato$ anglal*n'$ a26u*ed 3.?4 m*ll*on su#s2*#es$ add*ng %.?1 m*ll*on

    2ustomes *n the same &e*od$ h*le the onl! CAM, o&eato$ C*t!Cell$ a26u*ed neal! one

    m*ll*on 2ustomes at the end o) the !ea$ moe than dou#le *ts 4.4 la'h 2ustomes *n %005. The

    goenment-oned Teletal' a26u*ed neal! 4 la'h 2ustomes *n %00?.

    angladesh *s &esentl! one o) the to& 10 mo#*le &hone ma'ets *n the ,s*a-&a2*)*2 eg*on *n

    tems o) the num#e o) su#s2*#es.

    Indust! &eo&le sa*d the num#e o) mo#*le &hone su#s2*#es *ll to& 50 m*ll*on *n the net

    thee !eas as the stat-u& 2ost as ell as 2all ta*)) *ll #e 2onstantl! sh*n'*ng #e2ause o) 2ut-

    thoat 2om&et*t*on among the o&eatos to oo ne 2ustomes (ahman$ %007;.Table $ %: Ma!or Mobile #hone &et'orks in Bangladesh According to their Market Share

    &ame o( the )ompanies Technology *sed Subscribers +Approx,- at the end o( .//0

    @ameenhone @;

    ,'tel Tele'om Mala!s*a;

    anglal*n' )omel! She#atel;

    a2*)*2 angladesh Tele2om C*t!Cell;

    Teletal' angladesh

    =a*d Tele2omB

    @SM

    @SM

    @SM

    CAM,

    @SM

    10.7? m*ll*on

    ? m*ll*on

    3.?4 m*ll*on

    1 m*ll*on

    4 la'h

    Source: htt&:DDg ou&s.google .2omDgou&D#angla*2 tDto&*2 s . ,22essed on 17-03-07

    B =a*d Tele2om o) the n*ted ,a# Em*ates *s e&e2ted to laun2h *ts se*2e *n angladesh *n,&*l$ %007.

    )ompetition in Mobile Telecommunication Industry in Bangladesh

    ,s ment* oned *t eal*e that @ameenhone *s the ma'et leade *th a&&o*matel! ?3F

    ma'et shae htt&:DD&ess.teleno.2om; . "om the ma'et shae and te2hn*2al 2a&a#*l*t! &o*nt

    o) *e$ @ *s 2leal! ahead o) othe 2om&et*tos. ,lthough ,'tel as the 2hallenge #ut *ts

    a2t**t*es as not so mu2h theat )o @. S*n2e the ma'et &a!es des*gned the* stateg! *th

    tad*t*onal amos thee)oe$ the 2ultue and &a2t*2e o) *nnoat*on as not a&&o&*atel!

    nutued *n th*s *ndust!. ,'tel t*ed to #e *nnoat*e and to &o*de un*6ue alue to the

    2ustomes #ut *t 2ould not #e e))e2t*el! su22ess)ul as @ es&onded *mmed*atel! *n

    un2onstu2 t*e a!s. Een somet*mes *n a e! negat*e a! e.g. neto' +amm*ng$ &*2e 2ut

    and so on;$ h*2h as to some etent uneth* 2al$ too. "o eam&le$ hen ,'tel &lanned to

    &o*de augmented se*2e to 2ustomes$ @ ould 2eate an unannoun2ed #a*e *n 2ase o)2all*ng and messag*ng )om ,'tel to @ su#s2*#es to 2eate an *m&ess*on that ,'tels neto'

    *s not as e))*2*ent as @. lt*matel!$ the *nnoat*e e))ots o) ,'tel ee not )ull! su22ess)ul.

    The 2om&an! @; used to en+o! almost a mono&ol! unt*l and unless the theat as 2eated #!

    othe 2om&et*tos.

    http://groups.google.com/group/banglaict/topicshttp://groups.google.com/group/banglaict/topicshttp://press.telenor.com/http://groups.google.com/group/banglaict/topicshttp://press.telenor.com/http://press.telenor.com/http://groups.google.com/group/banglaict/topics
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    5% The Cost and Management$ Janua!-"e#ua!$ %007

    'atan, Alam and (aman

    )onse1uences o( this *neven )ompetition

    The *n)luen2e o) mo#*le tele2ommun*2at*on *s mult* )a2eted . It has #e2ome an *nd*s&ensa#le

    &at o) u#an l*)e. Ceta*nl! noada!s mo#*le tele2ommun*2at*on se*2es see not onl! )otad*t*onal 2ommun*2at*on &u&oses #ut also as a ne 2hannel )o e*st*ng enteta*nment and

    ne t!&es o) enteta*nment Gona'$ et al.$ %004;. The uneen 2om&et*t*on *n the

    tele2ommun*2at*on se*2e *ndust! o) angladesh *s o'*ng as #a*e *n &o*d*ng th*s t!&e

    o) alue add*ng se*2es to the 2ustomes. The adese 2onse6uen2es$ *n add*t*on to neto'

    +amm*ng and sudden &*2e 2ut $ ae a*ous 2al l ates )o s*m *la se*2e$ &o#lem *n *ntenet

    2onne2t**t !$ )a*lue to ma'e mo#*le &hone as a means )o enteta*nment heeas these ae

    e! 2ommon and )am*l*a all oe the old. Mo#*le &hone neto' *s not a&&ea*ng *th

    d!nam*2 )eatues as &e demand o) the s*tuat*on athe the! ae t!*ng to #e moe tad*t*onal

    *th moden te2hnolog!. The se*2e &o*des o) th*s *ndust! ae no )*ght*ng )o the e*st*ng

    2ustomes *n the same ma'et *nstead o) deelo&*ng ne ma'et and ne *nnoat*e &odu2ts.

    The oeall 2om&eten2! and 2a&a#*l*t! o) th*s *ndust! *s not enhan2*ng due to the la2' o)ade6uate esea2h and deelo&ment )o *nnoat*eness. No 2om&an! *s go*ng *th a &o&e

    &otent*al to 2hallenge the ma'et leade. lt*matel!$ 2ustomes ae #e*ng de&*ed.

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    The Cost and Management$ Janua!-"e#ua!$ %007 53

    Innovation %trategy3A 'ealistic 4xample in Bangladesh &obile Telecommunication %ervice &ar"eting

    *s the onl! &a2'age aa*la#le *n the ma'et o))e*ng a s&e2*al edu2ed ate and s&e2*al tal' t*me

    e2lus*el! )o omen. anglal*n' does not 2ons*de th*s +ust a &odu2t o))e $ #ut moe o) an

    a2'noledgment o) the 2ont*#ut*on that omen o) angladesh ma'e to the so2*et! and thenat*on. Th*s se*2e *n2ludes hoos2o&e$ t*&s on #eaut!$ 2oo'*ng$ health$ home management$

    2h*ld 2ae$ )*st a*d$ and 2*nema and dama s2hedule. The o))e also *n2ludes d*s2ounts *n

    sele2ted #eaut! &alos$ #out*6ues$ hand*2a)ts stoes$ de&atment stoes and 2osmet*2 sho&s$

    et2..#anglal*n'gsm.2om;.

    &&e Class *s the anglal*n' e&e*en2e that *s taget*ng a sl*ghtl! u&s2ale 2l*entele$ o))e*ng a

    ange o) se*2es at a 2om&et*t*e &*2e. S&e2*)*2all!$ &&e Class o))es u&le Ca&et

    teatment$ g**ng s&e2*al attent*on *th se&aate 2ountes at sales and 2ustome 2ae 2entes

    and a ded*2ated hotl*ne. , #*g SIM 1000F moe stoage;$ 2ustom*ed num#es$ *ntenat *onal

    oam*ng$ eas! #*ll *n6u*!$ 2all #a2' 2ustome se*2e$ and stat-u& ass*stan2e ae the &**leges

    o) th*s &a2'age. , =e# log #log; u&dates the 2ustome on ne se*2es$ *n*t*at*es$ use)ul

    t*&s$ and enteta*n*ng *deas. Call and Contol *s a e2ent add*t*on to the &&e Class &a2'ageallo*ng su#s2*#e s 2ontol and )le*#*l*t ! *n the* usage and e&ense.

    >ello ages se*2e *s un*6ue to anglal*n'$ allo*ng a22ess to a*ed *n)omat*on a#out a*l*nes$

    #an's$ hos&*tals$ em#ass*es$ et2. though a ded*2ated num#e. ,dd*t*onall!$ *t o))eed 2hea& and

    2onen*ent e-ma*l though the* neto' to )*ends and )am*l! all oe the old. anglal*n' as

    the )*st to ma'e the net *tuall! )am*l*a *n 2ell &hone *n angladesh. =*th the )ee SMS and

    lo-2ost e-ma*l *t 2oeed #oth the need o) s!n2honous and as!n2honous 2ommun*2at*on. It

    also gae an o&&otun*t! to *ts 2ustomes to donload mus*2$ &la! onl*ne game though mo#*le

    &hone. Though *t *s not st*ll e! &o&ula due to elat*el! h*gh 2ost$ *t as an added alue that

    *so&en to all 2ustomes and *t has an o&&otun*t! to #e &o&ula *n )utue.

    In*t*all!$ @ d*d not ta'e these '*nds o) a2t**t*es as seee 2hallenge s*n2e these ee not )omthe 2hallenge athe )om a )olloe. Moeoe$ @ as 6u*te 2on)*dent u&on the* 2om&et*t*e

    adantageun*nteu&ted neto' se*2e$ huge 2ustome #ase$ h*2h made them to some

    etent ea2t*e *nstead o) &oa2t*e as the! ee #e)oe.

    eall$ anglal*n's #us*ness stateg! 2ould atta2t 2ustomes. =*th*n a )e months the*

    su#s2*#es *n2eased )om 300$000 to 1.5 m*ll*on. =h*le 2ondu2t*ng th*s esea2h *t as eealed

    that anglal*n' 2ould atta2t 2l*entele )om all e*st*ng se*2e &o*des and a*sed *ts ma'et

    &os*t*on )om )*)th to th*d. eade 2ould eal*e that a &otent*al theat *s emeg*ng )om anglal*n'

    hen the! lost a 2ons*dea#le 2hun' o) the* 2l*entele. Een though anglal*n' as )a #eh*nd

    !et the! too' th*s &henomenon &ett! se*ousl!. In ode to ta2'le *s*ng theat )om anglal*n'$

    @ameenhone *ntodu2ed seeal ne &odu2ts taget*ng s*m*la &odu2ts o) an glal*n'.

    Innovation 4ar(are3 A Brie( Analysis o( the Situation

    angladesh mo#*le tele2ommun*2at*on as an *ntang*#le dom*nant &ue se*2e *ndust! h*2h

    deals *th the neto' s!stem onl!. The tad*t*ona l thought totall! *gnoed 2onsum e da! to

    http://www.banglalinkgsm.com/http://www.banglalinkgsm.com/
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    54 The Cost and Management$ Janua!-"e#ua!$ %007

    'atan, Alam and (aman

    da! l*)e as&e2t and d*d not t! to e&loe ho mo#*le &hone se*2e 2an #e an *nd*s&ensa#le

    &at o) ou da*l! l*)e to #e s&e2*)*2 ho *t 2an ma'e l*)e eas! and d!nam*2. The 2onsumes

    ee #e*ng de&*ed o) gett*ng the o&t*mum alue )om the mo#*le tele2ommun*2at*on se*2e.anglal*n' 2ould *dent*)! the ga& #eteen the &odu2t 2on2e&t and *ts ult*mate ut *l*t! o) the

    &odu2t. suall! a *nn*ng &odu2t has mult* d*mens*ons so that *t 2an see 2ustomes )om

    a*ous s&e2tums. , &odu2t must &osses thee leel o) *dent*t*es . The )*st leel *s the essen2e

    o) a &odu2tho ell *t sat*s)*es the 2ustomes needs. The se2ond leel *s the &h!s*2al

    &odu2t$ should *t #e a good o a se*2e. The th*d leel *s the &odu2ts shell. It *n2ludes all

    the add*t*onal &odu2ts and se*2es o))eed *th the &odu2t to e2eed 2ustome e&e2tat*ons

    V*adot$ %004: 155;. I) 2ustome sat*s)a2t*on e2eeds the e&e2tat*on leel then the 2ustome

    *s del*ghted and onl! then *t *s &oss*#le to eta*n that 2ustome. the*se$ thee *s a &o#a#*l*t!

    o)s*t2h*ng. ,s @ almost oeloo'ed the th*d &odu2t leel$ anglal*n' 2on2entated on

    th*s ga& and t*ed to )*ll th*s ga&. anglal*n' anted to a22eleate 2ustome atta2t*on )aste.

    To do th*s the! de2*ded to o))e major service with accompanying major goods! .

    The su22ess o) the* &odu2t des*gn*ng as the &e2*se at*2ulat*on o) the latent demand o)

    2ustomes. The* ma+o o))e as )ee &hone set *th mo#*le &hone neto' 2onne2t**t! . The*

    o))es ee ne*the the )am*l*a tang*#le goods *th a22om&an!*ng se*2e no ma+o se*2e

    *th a22om&an!*ng m*no goods and se*2es. It as ma+o se*2e *th a22om&an!*ng ma+o

    goods. It 2ould #e 2alled as h!#*d. ,2tuall! *t as moe than h!#*d.

    e6ual &ats o) goods and se*2es$ )o eam&le $ &eo&le &aton*e estauant )o #oth )ood and

    se*2es Gotle$ %003:447;.

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    The Cost and Management$ Janua!-"e#ua!$ %007 55

    Innovation %trategy3A 'ealistic 4xample in Bangladesh &obile Telecommunication %ervice &ar"eting

    (ad*o Se*2e;. ,nothe o) @s unusual se*2e *s *ts Insta-Cae$ an automated se*2e *th

    IV( Integated Vo*2e (es&onse; s!stem )o all '*nds o) @ se*2e-elated 6ue *es. Th*s se*2e

    *s o&en %4 hous a da!$ all t he !ea ound. In add*t*on$ Insta-Cae has a geneal*n)omat*on

    as&e2t hee tael$ hotels and estauants$ emegen2! num#es$ hos&*tals and 2l*n*2s$ legal

    a*d$ ta*2a#s *n)omat*on$ and d*st*2t and 2ount! d *al*ng 2odes ae aa*l a#le.

    The V*llage hone ogam o) @ameenhone *s a un*6ue *n*t*at*e that &o*des a22ess to

    tele2ommun*2at*ons )a2*l*t*es *n emote ual aeas$ hee no su2h se*2e as aa*la#le #e)oe.

    The &ogam allos &oo *llage omen to on a V*llage hone su#s2*&t*on and eta*l the

    &hone se*2e to he )ello *llages h*le &o*d*ng them *th a good *n2ome-ean*ng

    o&&otun*t !. It *s adm*n*ste ed #! @ameenhone$ *n 2oo&eat*on *th @ameen an'$ the

    *ntenat*onall! enoned m*2o-2ed*t lend*ng *nst*tut*on.

    @s th*s stateg! made a 6u*2' *m&a2t oe the 2onsumes. e*ous @ 2onsumes ho

    s*t2hed to anglal*n' some o) them sto&&ed us*ng anglal*n' SIM and stated us*ng the @

    SIM *th the mo#*le &hone that the! got as )ee *th the anglal*n' SIM. It eall! sho2'ed

    anglal*n'. In ode to eta*n the* ne 2ustomes anglal*n' *ntodu2ed some ne moe

    o))es$ )ee tet messag*ng )o s* months een the! etended th *s )ee messag*ng outs*de the

    2ount! at lo2al 2hage.

    "om the data and *n)omat*on$ *t as eealed that the *nnoat*on stateg! o) anglal*n' as

    #ased on the ma+o &h!s*2al &odu2t togethe *th ma+o se*2e &a2'age and SMS se*2e. No

    SMS )a2*l*t! *s 6u*te *m&otant to man! 2onsumes. e2ause o) that Kall )oms o) tet

    2ommun*2 at*on shae the a#*l*t! to 2a&tue$ stoe and eas*l! et*ee the 2ontent o) the

    2ommun*2 at*on #oth s!n2honousl! and as!n2honousl!. Th*s &oes to #e 2u2*al *n man!

    so2*al sett*ngs hee the &o*nt o) the 2ommun*2at*on *s to 2one! a &hone num#e to 2all o an

    addess at h*2h to meet. =h*le th*s *s also &oss*#le *th o*2e messages$ e*e*ng *s mu2hmoe d*))*2ult due to the e&hemeal natue o) soundL

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    5? The Cost and Management$ Janua!-"e#ua!$ %007

    'atan, Alam and (aman

    Though almost ee!th*ng as go*ng smoothl! )o anglal*n'$ gaduall! *t )a2ed some &o#lems.

    Its ma*n &o#lem as *nteu&ted neto'. n the 2onta!$ the ma*n 2om&et*t*e adantage

    o) @ as *ts un*nteu&ted neto' s!stem.

  • 8/11/2019 Innovation Strategy: A Realistic Example in Bangladesh Mobile Telecommunication Service Marketing

    10/11

    The Cost and Management$ Janua!-"e#ua!$ %007 57

    Innovation %trategy3A 'ealistic 4xample in Bangladesh &obile Telecommunication %ervice &ar"eting

    as eas! to 2o&!. S*m*la &odu2ts ee also o))eed #! othe 2om&et*tos l*'e ,'tel$ C*t!2ell

    et2. In )a2t$ @ameenhone moed )uthe #! lean*ng )o m the m*sta'es o) anglal*n'.

    )reative 'ar(are: In an advertising sector

    ,det*s*ng se2to o) an *ndust! *s a e! *m&otant se2to . Ceat *e m*nd and esul t o) 2eat**t!

    *s the ma*n ea&on o) th*s se2to. Noada!s e ae 2losel! o#se*ng the seee 2om&et*t*on

    among the mo#*le 2om&an*es. In th*s a2e &om*s*ng 2om&an! anglal*n' *s 2leal! ahead. The*

    a*ous mass med*a adet*sements ae ell a22e&ted and hae #e2ome &o&ula. The! t! to

    o))e a e! 2lea message to the &eo&le.

  • 8/11/2019 Innovation Strategy: A Realistic Example in Bangladesh Mobile Telecommunication Service Marketing

    11/11

    58 The Cost and Management$ Janua!-"e#ua!$ %007

    'atan, Alam and (aman

    stateg! *nnoat*on !ou hae to nutue *mag*nat*on to )oste 2eat**t! *n !ou ogan*at*on.

    Moe than seent!-)*e !eas ago$ Cal Jung ote:

    KThe d!nam*2 &*n2*&le o) )antas! *s &la!$ h*2h also #elongs to the 2h*ld$ and as su2h a&&easto #e *n2ons*stent *th the &*n2*&le o) se*ous o'. ut *thout th*s &la!*ng *th )antas!$ no

    2eat*e o' has ee !et 2ome to #*th. The de#t e oe to the &la! o) *mag*nat*on *s

    *n2al2ula#leL Jung$ 19%1;.The &o2ess o) nutu*ng *mag*nat*on *noles the ado&t*on o) a

    &h*loso&h! that *n2o&oates as&e2ts o) &la!the &eo&le *n ou ogan*at*ons must hae the

    o&&otun*t! to etend and ee2*se themseles$ to e&loe and lean. The 2hallenge )o us *s *n

    &o*d*ng d*e2t*on to th*s e&loat*on ,IM$ ,ustal *a$ %004;. ,s angladesh *s a &o&ulous

    2ount!$ so *) a 2om&an! goes though th*s &o2ess *t 2an ga*n a lot )om esult*ng stateg!

    *nnoat*on and the &o)*t *ll not 2eta*nl! #e small.

    Re(erences

    e!$ . . 1980;$ KSe*2es Ma'et*ng *s A*))eentL$ Business, Vol. 30 Ma!-June;: %4-%9.

    eg$ S.$ ,. S. Ta!le$ (. ou gan*at*on$L *n,ustal*an Inst*tute o) Management$

    Innovation and Imagination at Wor" S!dne!: M2@a ousu)$ (..$ . ,n+al*n$ ,.S. M. Sohel--/aman and S. ,nam %00?;$ K Innoat*e C(M *n angladesh$L The "*)th =uhan

    Intenat*onal Con)een2e on E-us*ness$ Integat*on ,nd Innoat*on Though Measuement and Management$ Vol. II:1103-1109.

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