Sustaining Innovative Success A Case Study on Consumer Centric in the Zakat Characterizing Practice for Effective Product Innovation Management

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Muhamad Fairos bin Mohamad Shah

Abstract

Innovation has become an important goal for ICT companies. Companies that have succeeded in innovations like Apple, Google, Amazon are speeding up other leaps and followers such as Samsung Electronics, LG Electronics are chasing right behind them. In addition, companies also innovate to change their competition with their original ideas and entrepreneurial spirit. Unfortunately, innovation is not in a necessary and sufficient relationship with the company's success and this means that even though a company can dominate the market with its innovation, it is only extending its period of survival and the lifespan of innovation is gradually decreasing. Even though a company can finally achieve the first place through much endeavour, maintaining this success is much more difficult.Hence relationship with customer is significantly by their practice in an organization.This study analyzes various cases of Zakat companies that have practice and relationship of customer in order to maintain their innovative success and propose consumer-cantered innovation as a solution. In this case there are various ways to create user-cantered innovations among others companies need to predict consumer demand dynamically and consistently change. In addition, companies should also use proactive observation methods and big data analysis to find the hidden ones claims and finally the company also needs to identify the risks such as waste, discomfort anxiety and effort solve this problem.The specific objectives of the study are to enlighten on Zakat company performance of interest-based practice and innovation as well as relationship Islamic customer through business development ratios,commitment to economy and community, productivity and efficiency ratios and to draw comparisons.

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How to Cite
Shah, M. (2020, December 14). Sustaining Innovative Success. International Conference of Zakat, 409-418. https://doi.org/https://doi.org/10.37706/iconz.2020.246
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