In this paper I have suggested the impact thatcreativity and innovation have on businesses and franchises, as well as thecorrelation that both of them share to another. Also in relation to innovationI have proposed the several types it can display and I have analysed each andone of them, concerning their background, as well as I gave examples on whichfields of businesses they can be witnessed. This framework has the intention totestify to readers the importance of the variations that innovation types andstrategies present, in relation to the businesses.
Concerning the scepticabove, franchises following innovative initiatives can exhibit divergencesaccording to which type of innovation strategies and types they have adopted.For instance there would be a substantial difference if a company had embracedincremental steps, owning to the fact that radical steps would lead to majorchanges that would affect promptly the franchisees. Franchising businesses arebeing operated under a brand name, which brings credibility to the franchiseessystem. A radical change could have a negative impact on the franchisees, sofranchisors should pay attention on the innovation strategies they function andintegrate their goals. In these concluding remarks, I would like to emphasizealso the following.Additionally, innovation is the continuity ofintention. Innovation is applying on an existing product, process and service,while invention is a breakthrough.
In this work I gave several examples on howinvention and innovation are perceived and I showed graphically to the readersthe way that innovation applies on invention. Moreover, it was prominent thatin order for the understanding of franchising as a new form of business, therewas needed a short glance on under which circumstances it was created.Franchising was structured as a phenomenon and the different business formatsthat it could take were explained thoroughly. The emergence of franchisingstarted as a mean of distributing goods and the reader has the chance toacquaint himself/ herself with the several methods followed in the franchisingsystem.Furthermore, it is apparent that the reader will havea concrete idea on how innovation tactics adopted by franchisors, have led inthe transformation of the franchisee systems and the re-emergence of new typesof them.
In respects to the new franchisee systems emerged, the most regularone is the new kind of contracts in which franchisors and franchisees have thecapability to sign more than one contracts and the franchisee can run more thanone units at the same time.Overall, it isperhaps worth noting that innovation will continue to broad the marketplace theyears to come and contribute essentially in its reshaping. According to thatstatement, franchising and businesses desiring to distant themselves, amongtheir competitors, will continue to adopt such strategies and it is a givenfact that innovation types and strategies will develop further and new typeswill emerge.
Franchising is a recent type of organisation, meaning thatindividuals have not yet experienced most of its positive and negative aspects.