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3608Qca | Innovation | A Assessment Answers

You are required to write a report on innovation report to the board of a business of your choice.

Answer:

Introduction

Innovations are a fresh idea of a person for solving a problem in an efficient way. These are improving the business processes in different terms, such as increasing efficiency, more productivity, better services, and quality products. Innovations are base for effective business operations. It is a way to change previous ideas for more growth and benefits to the business of an organization (Baregheh, Rowley, & Sambrook, 2009). Innovations are hopes for the business succeeding in same field. Business is based on the creative ideas for increasing efficiency of the system at huge level. Business model is combination of different things, which are beneficial for successful business (Brown & Ulijn, 2004). In the next parts of this report, it will discuss about innovations in business development, customer relationship, and business models.

Innovations helps in Business

Business development is a process, in which different parameters are helping for overall growth of an organization. Innovations are having a wide range of functions, which are create different skills for development in new products and their services. There is a research and development process department in many organizations for managing innovations. Someone is responsible for all these types of works. An innovation manager has handled all the things, which are related to the innovations (Brown & Wyatt, 2010).

All these concepts are helping in every industry. As an example, a hospital is following such type of design thinking process. Patients are making their images from their feedbacks. On the bases of feedback and survey, many things will be change in the processes. Few operations are based on the typical procedures, but using a creative idea, it can be more beneficial for hospital and health of a patient. Customer’s needs are uses as a facility then it is a best way to make them satisfied with the help of processes.

Innovation manager is a person, who is already a good inventor always find new ideas and provides guidance to others through different activities. He is a part of a process in that collects different ideas form wide variety of sources, which is used for the business development. He is also responsible for collect the ideas and searches innovation in the outside world, such as new technologies, which are helpful for increasing productivity of organization (Chesbrough, 2010).

To be Successful organization, few things should properly manage, such as superior solutions of issues, reducing risks, demand-supply of employees. All these things are having a big role for business development (PUTZ, 2018). Linear and structured designing is arising from experiences. Innovation managers are not a designer and they are not in contact with customers. Most of the people having fear for doing something new, because of their risks, but innovations are providing a support behind your actions. Without actions, there is no innovation. Safety is necessary thing, but discovery about new ideas, and customer needs is necessary. All the pharmaceutical and hospital management are used innovation and design thinking approach for business development. They used fresh ideas for finding appropriate solutions of a problem in an efficient way (Crossan & Apaydin, 2010).

Many activities are involves in the application of design thinking at the most of organization. All the activities are related to each other for finding innovative ideas. Many organizations consider design thinking discovery process, which is related to the sociology and ethnography (Lundvall, 2010). It has different methods for identification of customer’s satisfaction from the product and services. For making operations more better then take help form the customer’s feedback, surveys, and customer preferences. Design thinking is taking different approach for inventing new concepts, such as customer’s needs. Immersion in user feedbacks provides many data for deeper insights, but it is not making any sense (Liedtka & Ogilvie, 2011).

According to the design thinking exercise, use poster for solving these types of issues. It is a visualization process and it will helpful for getting new ideas from the previous details of customers. All ideas are collected in front of all at the poster at the end align all the concepts for finding solution of a problem. Customers’ needs are clear then next step is finding specific solution based on identification of customer’s requirements. It is helpful for creating solution. In medical science, innovations are must require for handling different diseases. Based on research, business of pharmaceutical companies is growing day-by-day (Liedtka & Ogilvie, 2011).

Organizations use prototyping as a process for betterment of product or service, but design thinking prototype model are taking iterative experience of users for radical changes in the redesigns of the products and services. Design thinking process is based on learning by doing (Hobcraft, 2017).

Business model is based on basic required things of an organization. Customer’s relationship is a huge channel for getting successful in the business (Teece, 2010). It affects many things of an organization, such as financial, intellectual, physical, and human. Physical resources are very necessary for attracting the customers. Infrastructures matters a lot for customer’s satisfaction. Intellectual sources are making a good image of a company, such as patents, copyrights, and customer’s databases (Osterwalder & Pigneur, 2010). Human resources are backbone of a company. Every organization required skilled persons for working. All these things are required for a best business model, which is helpful for successful business (Ling & Mohd Nasurdin, 2010).

Conclusion

It is concluded from the previous parts of this report that, design thinking process creates a step-wise flow from research to rollout. It helps designers to agree on the parameters for finding solutions. Prototypes are helps for further development of innovative ideas. Design thinking process is providing solution for different problems, such as superior solution, employee buy-in, reducing risks and costs. Design thinking approach is emphasizes people for creating news ideas, and it is a motivation for them. It involved customers and stakeholders for creating solutions of a problem. It makes people more social at workplace, because of different activities with all the people for that desire task.

Finally, it is concluded that design-thinking approach is a different way for innovation for a particular problem. Innovation is a key of business development.

References 

Baregheh, A., Rowley, J., & Sambrook, S. (2009). Towards a multidisciplinary definition of innovation. Management decision, 47(8), 1323-1339.

Brown, T., & Ulijn, J. (2004). Innovation, entrepreneurship and culture: the interaction between technology, progress and economic growth. (3rd ed.). London: Edward Elgar Publishing.

Brown, T., & Wyatt, J. (2010). Design thinking for social innovation. Development Outreach, 12(1), 29-43.

Chesbrough, H. (2010). Business model innovation: opportunities and barriers. Long range planning, 43(2-3), 354-365.

Crossan, M., & Apaydin, M. (2010). A multi?dimensional framework of organizational innovation: A systematic review of the literature. Journal of management studies, 47(6), 1154-1194.

Hobcraft, P. (2017, August 17). An introduction to Design Thinking for Innovation Managers. Retrieved from blog.hypeinnovation.com: https://blog.hypeinnovation.com/an-introduction-to-design-thinking-for-innovation-managers

Liedtka, J., & Ogilvie, T. (2011). Designing for growth: A design thinking tool kit for managers. New York: Columbia University Press.

Ling, T. C., & Mohd Nasurdin, A. (2010). Human resource management practices and organizational innovation: An empirical study in Malaysia. Journal of Applied Business Research, 26(4), 105.

Lundvall, B. A. (2010). National systems of innovation: Toward a theory of innovation and interactive learning (Vol. 2). London: Anthem press.

Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challengers. New York: John Wiley & Sons.

PUTZ, M. (2018, October 11). The twelve possible roles of an innovation manager. Retrieved from Lead-innovation: https://www.lead-innovation.com/english-blog/roles-of-an-innovation-manager

Teece, D. J. (2010). Business models, business strategy and innovation. . Long range planning, 42(2-3), 172-194.


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