• Posted on August 29, 2023
• Unique Submission Team

BU7030 Managing Innovation Assignment Sample

Introduction

Innovation management is the kind of consideration that needs improvement in organizational process management. The innovation provides the organization to have linear benefits in the business dynamics.

Innovation in the organization provides the use of significant ideas. It also provides the increment in the level of organizational productivity based on portability. This composition is going to provide an evaluation in the organizational context. In this composition, the SME of the UK named Softwire has been used as the referential example. Softwire is a technological organization that provides software solutions.

Innovation theory

Through the use of the general considerations, it can be understood that the innovation theory is the conceptualization that provides the significance of installation and amalgamation of the new kinds of processes, patterns and design and it provides benefits to the business dynamics.

The innovation theory provides the idea of formulation of a new kind of product that is based on customer satisfaction and organizational profitability (Baker, 2017). http://BU7030 Managing Innovation Assignment SampleThe main consideration of the innovation theory are laggards, late majority, early majority, early adopters and innovators (Kahn, 2018).http://BU7030 Managing Innovation Assignment Sample

This conceptualization provides the understanding that the innovation provides the essence of primary factors and these are social engagement and communication tie-ups. This considers the factors of observability, adaptability, tribality, relative benefit and complexity.

The innovation theory is based on the considerations of the diffusion conceptualization. It provides the considerations of features of innovation, nature of communication channels, the passage of time, social dynamics and circulation of knowledge (Kahn, 2018). http://BU7030 Managing Innovation Assignment Sample

In the organizational business dynamics, the use of innovation provides the conservation of the potential to rethink the present business conductivity based on the proportional increment in the profitability and it is also inclined with the competitive advantages.

It can be conducted with the use of improvising things based on the existing business dynamics and it also provides the essence of valuable consideration.

The innovation theory will provide Softwire with better development in their organizational business dynamics. It will provide the organization to have the essence of better brand value.

It also provides the reductions of risks and it also provides circulations in the innovation projects (Kahn, 2018).http://BU7030 Managing Innovation Assignment Sample In this confederation classified versions of innovation can be utilized by Softwire (Baker, 2017).http://BU7030 Managing Innovation Assignment Sample This will provide the business dynamics of Softwire to have disruptive innovation, incremental innovation, sustaining innovation, and radical innovation.

Process model

Through the use of the general considerations, the use process model provides the organizational business dynamics to have better efficiency. This is the kind of graphical representation which provides the process to have linear conductivity.

It provides the executions based on process mining, process modeling, and optimizations (Baker, 2017).http://BU7030 Managing Innovation Assignment Sample The process model is proportional to the innovation process used in the organization.

This provides the organization to have to prosper workflow and business procedures (Baker, 2017).http://BU7030 Managing Innovation Assignment Sample It provides the formulation of the systemic dynamism which will provide the flow of input and circulation of output with respect to the organizational business dynamics.

Tidd and Bessant (2009) model

This model provides the knowledge that innovation is an important consideration in the organizational strategies and competitive advantage. In this consideration most of the innovations have to be provided with proper justification based on the rate of success (Baker, 2017). http://BU7030 Managing Innovation Assignment Sample

The innovation dynamics in the organization is based on the two considerations and these are identification of the determinations and the implication of determinants. This model is considered as the conceptual model which provides the innovation capacity to have proper innovation considerations based on frameworks.

This model provides the configuration of the organizational innovation management to have five considerations. These are networking, learning, process, organization and strategy. This provides the organization with proper adjustment in their innovation dynamics (Rangus & Slavec, 2017). http://BU7030 Managing Innovation Assignment SampleThis model provides the consideration that management of the innovation process needs the proper use of business knowledge and business intellect.

This also provides the innovation to have proper perceptions based on the dynamics and it also provides the probable considerations (Kahn, 2018).http://BU7030 Managing Innovation Assignment Sample It provides the competitiveness of the organization to have proper perpetuation (Baker, 2017).http://BU7030 Managing Innovation Assignment Sample In this consideration, the innovation is also provided with the organizational objectives to have proper linearity. It also provides the innovation to have linear progression on the verge of success.

This model has four dimensions and these are as follows:

• Search: It provides the innovation to be based on used for customer satisfaction. It must be provided with the parallel considerations of the needs and demands of the customers.
• Select: It provides the organizations to have proper research and studies to have proper business knowledge. This would provide the innovation to be successful. This will provide the innovation to have a proper and long-run competitive advantage. This also provides the innovation to be linear in consideration (Rangus & Slavec, 2017).
• Implement: This is the kind of consideration in which innovation conductivity is being provided with proper value and considerations. It provides the innovation to be more simplified and rational in the process of formulation (Baker, 2017). It provides the innovation to have used by the organization to have the essence of proper business dynamics. It will provide adjustments in the organizational processes based on the customer needs.
• Capture: This is the kind of innovation that provides the organization to have long-run conductivity. It provides the organization to have the implementation of innovation based on the essence of proportional installment and success rate.

Softwire will have benefits through the use of this model. It will provide the business dynamics of Software to have proper installation of the innovation. It will provide the conductivity of the business dynamics based on the increment in profitability.

It also provides the significance of competitive advantages. The use of innovation will provide Softwire to have better technological improvements in organizational formulations and productivity (Kahn, 2018).http://BU7030 Managing Innovation Assignment Sample It will provide the organizational reputation to be linear and progressive on the verge of positivity. This will make Softwire have better business considerations based on the paramount consideration of implications.

Innovation action

The concept of innovation action is the kind of consideration in which the action of primary orientations based on the classified activities are being focused based on the circulation of objective-driven enhancement.

It also provides the organization to have proper formulations of plans and arrangements or designs based on the processes, improvisation of products, alteration of productivity and designing of new considerations.

This provides the conductivity which is based on the primary consisting activities and it provides the considerations of new products and knowledge (Rangus & Slavec, 2017).http://BU7030 Managing Innovation Assignment Sample

Figure 1: Innovation Dynamics

(Source: Kahn, 2018)

 It provides the exploration of feasibility which is based on the use of improved technology, process, product, solution and services (Kahn, 2018). The innovation action provides the organization with better services, maximization in the level of productivity, level of compatibility, simplicity based on the executions and efficiency in the business dynamics (Zhu et al. 2019).http://BU7030 Managing Innovation Assignment Sample

Innovation is the process that needs to be conducted by an organization through the use of proper research and studies (Rangus & Slavec, 2017). http://BU7030 Managing Innovation Assignment Sample

The main aim of the setting of innovation in the organizational production unit is to provide an increment in profitability and increase the level of competitive advantage. It also provides linear management in the organization which provides increment in the range of revenues (Zhu et al. 2019).http://BU7030 Managing Innovation Assignment Sample It also provides the significance of organizational benefits based on simulations.

Organizational context

Softwire is the UK-based organization that provides the circulation of software services to customers. The concentration of the business dynamics of the organization is based on the London and Bristol.

Softwire has talented and dedicated employees who have proper work executions based on the proper work quality (Geissdoerfer, Vladimirova & Evans, 2018).http://BU7030 Managing Innovation Assignment Sample It provides the essence of complete software partners for the customers based on the initial consultancy and design phases. It needs the essence of deployment and ongoing support.

 

Softwire circulates the one-stop-shop facilities based on the consultancy of the third party, web designer, and ISPs. Softwire have the proper consideration of software circulations and formulations in the prevailing markets of technology (Softwire.com, 2022). http://BU7030 Managing Innovation Assignment SampleSoftwire is a private organization that has 243 number of active employees.

The organization have revenue of 14.7 million Euros. Andy Smart is the Sales and Marketing Director, Phil Marsden is the founder and IT director and Andrew thomas is the managing director of the organization. The gross profit margin of Softwire is 21.9 million Euros.

 

 

Softwire is the organization that provides the significant software solution to the customers and companies who are in a need of organizational development (Talentpool.com, 2022).http://BU7030 Managing Innovation Assignment Sample It also provides the significance of customer-based solutions based on technological integration.

Innovation and development

Innovation is the kind of potential that the organization uses to have the induction of change for the purpose of positive opportunity. It provides the organization with betterment in the organizational business dynamics. Softwire has been involved in innovation as the essence of value-proposition in the services (Karno & Purwanto, 2017).http://BU7030 Managing Innovation Assignment Sample It had provided the organization with the consideration of the use in a profound way.

It provides the organization with a proper vision and scope (Christa & Kristinae, 2021).http://BU7030 Managing Innovation Assignment Sample It provides the innovation to be linear and dynamic. Softwire uses the innovation to have the potential induction of demand and it also provides the organization to have a proper formulation of websites and software applications which provides profitability and competitive advantage (Jajja et al. 2017).http://BU7030 Managing Innovation Assignment Sample It is based on the use of the interpretation of the business ideas into products and profits (Softwire.com, 2022). http://BU7030 Managing Innovation Assignment Sample

Softwire have involved in the influences of product innovation and technology requirements (Christa & Kristinae, 2021). http://BU7030 Managing Innovation Assignment SampleIt provides the organization to have the era of innovation based on the tech providers based on go-to-market innovation and strategies (Karno & Purwanto, 2017). http://BU7030 Managing Innovation Assignment SampleSoftwire is involved in having a viable position in the relevant market and it also provides the parallel launch of services and products based on the use of business processes (Jajja et al. 2017).http://BU7030 Managing Innovation Assignment Sample

This is based on the use of innovation which provides the product development to be more successful based on the IT advantages. Softwire is always ready for innovation. It had involved in the use of new technologies of blockchain and Iot in the innovation processes (Christa & Kristinae, 2021). http://BU7030 Managing Innovation Assignment Sample

The organization is also involved in future applications based on the circulation of the use of AI and ML (Jajja et al. 2017).http://BU7030 Managing Innovation Assignment Sample These will provide the organization to have linear stability in its business dynamics. It will provide the use of proper technology which will make the organization to have a rectilinear threshold (Karno & Purwanto, 2017). http://BU7030 Managing Innovation Assignment Sample

Softwire is an organization that is influenced in the centralization of digital engineering. It provides the innovation to be passionate and it provides the digital designs and software engineering to be inclusive and diversified (Jajja et al. 2017). Evolving your software is the fundamental consideration of the innovation process and it provides the sequences of linear sophistication.

This organizational service is proportional to the innovation process. It had provided the organization to have a proper pace with the demands of the customers (Abdelkafi & Pero, 2018). It also provides Softwire to have the competition through iterative implications in the products and services (Santos et al. 2018). Softwire circulates this service to provide the evolution of the digital services (Christa & Kristinae, 2021).

It provides the enhancement of scalability and maximization of usage (Karno & Purwanto, 2017).  It provides the formulation of new kinds of features and it provides the customers with responsive demands. It provides the new technologies of the market to have better fittings with the organizational innovations (Softwire.com, 2022). It also provides the circulation of user-friendly essences for customer services (Geissdoerfer, Vladimirova & Evans, 2018).

The innovation in the products and services of Softwire is based on the understanding of the business objectives and customer needs (Christa & Kristinae, 2021). The use of the review technology is an essential consideration. It provides the technology to have proper services relied on organizational objectives (Softwire.com, 2022).

It also provides the improvisation of organizational business dynamics (Karno & Purwanto, 2017). This provides Softwire to have proper prioritization and planning (Abdelkafi & Pero, 2018). It also provides the use of technological essences based on the use of classified implications (Rangus & Slavec, 2017). Softwire provides the benefits of the design improvements (Softwire.com, 2022).

It also provides the design improvements and meeting of business goals (Jajja et al. 2017). It also provides the consideration of the budget analysis and timeframes (Karno & Purwanto, 2017). It also provides the formulation of solutions based on the iterative essences (Softwire.com, 2022). It also provides a lowering of the business impact based on business-as-usual considerations. This provides Softwire to have the verge of successful innovation.

Theories

In this consideration, the organizational benefits based on the administrative and managerial actions are based on the use of the Diffusion of Innovation Theory. Softwire will use this theory to have proper use of innovation in their business dynamics (Geissdoerfer, Vladimirova & Evans, 2018).

This theory provides the idea that an innovative service gains momentum when it is being provided within a particular domain (Zhu et al. 2019). In this consideration, Softwire has to make the classification of clients based on the technological companies (Karno & Purwanto, 2017). In this local tech companies of European nations can be used to have the essence of diffusion (Abdelkafi & Pero, 2018).

It provides a social system that is adopting a new product has the tendency to have the need for user-friendliness (Rangus & Slavec, 2017). It also provides the significance of mutual adjustments. This theory provides the benefits to the software formulation works of Softwire to have better reliability (Jajja et al. 2017). It is based on the relative advantage which is based on the degree of innovation based on product, program, and idea (Abdelkafi & Pero, 2018).

In this case, compatibility is needed which is based on the circulation of consistent innovation with the use of needs, values and experiences (Geissdoerfer, Vladimirova & Evans, 2018). Compatibility is the kind of consideration that provides the innovation to be linear in coordination. This provides Softwire to have the benefits based on the trialability which provides the experimentation and testing to be used in a simplified form (Christa & Kristinae, 2021).

This also provides the significance of observability which provides the innovation based on the tangible results (Zhu et al. 2019). This theory provides the consideration that Softwire will have social benefits based on the processing of innovation. In this case, the innovation provides the essence of problem-solving and it also provides the significance of formulation of the proper insights based on the consideration of the diversified perspectives (Geissdoerfer, Vladimirova & Evans, 2018).

It also provides the use of proper productivity and refreshing strategy and it will provide benefits to the organizational competitive advantage and software formulation essences of Softwire (Jajja et al. 2017). It can be verified that this innovation conceptualization that it will provide the significance of accession of talent, accession of proper infrastructure, formulation of new revenue streams, involvement of co-creations, minimization of timescales, risks and expenses and it also provides the brand value of the organization to have increment.

 

Leadership analysis

Innovation is the inherent link with the change and it concentrates in the resources usage and it is based on the implications of long-term and short-term goals. It provides the initiatives based on the considerations of the innovation and purposes (Santos et al. 2018). It provides the essence of encouragement based on the stakeholder’s satisfaction of the organization (Zhu et al. 2019). In this consideration, Software will use transformational leadership (Geissdoerfer, Vladimirova & Evans, 2018).

It provides the induction of the leadership consideration which is based on the employees of the organizations and their workplace scenario and business dynamics (Karno & Purwanto, 2017). It provides the ideal form and formation of positive results of the implementation of innovation (Santos et al. 2018). It provides objective-oriented leadership and it is proportional to the innovation dynamics of the organization (Abdelkafi & Pero, 2018).

Softwire can have the use of this leadership to have better advantages (Christa & Kristinae, 2021). It provides the stakeholders of Softwire to have better openness for new thinking (Zhu et al. 2019). It also provides circulation based on talent diversification and better conceptualization (Santos et al. 2018). This also provides the commitment based on the essence of active mind listening (Geissdoerfer, Vladimirova & Evans, 2018).

This also provides the significance of tolerance and stability in intelligent risks. It also provides the organization with a better willingness to have acceptance of responsibility (Zhu et al. 2019). It also provides trust in team members of the organization. It also provides the significance of inspiring participation (Abdelkafi & Pero, 2018). Softwire will have benefits that are based on the service circulations.

This provides the essences of integrity and fairness, formulation of proper goals, enhancement of proper expectations, encouragement of others, circulation of support and recognition, stirs the emotions of the employees and other stakeholders, it provides the requirement based on the interest and it also provides the benefits of portability (Christa & Kristinae, 2021).

This leadership option provides the significance to the organizational stakeholders of Softwire to have better adjustments to the innovation process (Geissdoerfer, Vladimirova & Evans, 2018). This will provide the inclusion of better innovation based on the conduction of proper circulation of methodology. It will also provide the innovation to have linear sophistication on the verge of modernity. Softwire will have benevolent brand value (Talentpool.com, 2022).

Resources of innovation

The resources of innovation are based on the evaluation of the discipline of innovation. This is based on the derivation of the benefits which an innovation is being considered to have better linearity. Softwire will have to be involved in unexpected occurrences. It provides the simplification of the use of sources of innovation opportunity. This also provides the significance of incongruities needed by the organization (Christa & Kristinae, 2021).

It also provides stability in the classification of the process needs of the innovation process. It also provides the organization to have proper responses to the marketing changes. It also provides the significance of stakeholder management (Zhu et al. 2019). It is also based on the essences of perceptions and knowledge.

The innovation used by Softwire is based on the implication of human intellect with the evaluation of business knowledge. In this case, technology plays a significant role and it also provides linear advantages. In this case intelligence and ideas provide the main sources of innovation in the organizational business dynamics (Christa & Kristinae, 2021).

It also provides the innovation to be inclusive based on the results and it provides the users of the organization in order to provide the satisfaction of the requirements and expectations of the customers of the organization (Zhu et al. 2019). Softwire will indeed be classified as a classification of innovative features. These are used on the eureka consideration, integration, circulation, industrial needs and knowledge. Innovation is the need of the organizational business dynamics to have modular sophistication.

This provides the organization to have the linear satisfaction on the verge of modernity (Christa & Kristinae, 2021). In the general consideration, the use of innovation is based on the formulation of new things or new ideas of execution. Innovation provides the significance of making processing ideas based on the significant customer value. Softwire is a technological organization and it needs innovation to have better client service. Softwire is an organization that has the proper potential for innovation.

PESTEL analysis

The PESTEL analysis has some dimensions and these are as follows:

• Political: This refers to the use of the governmental policies of the UK and it acts as the degree of interventions based on the economical consideration. It provides the balancing in the goods and services circulations of the organization through governmental assistance. It will provide Softwire to have subsidizing options from the government assistance and it will provide the SMEs to have a better international dynamics. The issues based on Brexit is also providing some collaborative issues and employment dilemmas to the business dynamics of Softwire. It had provided the governmental rules and regulations of the UK to have competitive regulations.
• Economy: This is based on the various kinds of economical parameters like the governmental spending levels, exchange rates, tariffs rates, etc. It provides the economic considerations to have a linear impact on organizational stability. This will provide the organization with stability in the financial considerations. The UK tariff rates are being increased with the essence of the Brexit incident. The inflation rate in the UK had been increased due to the COVID-19 pandemic and it had provided a rise of the financial values of Softwire. It has also provided Softwire to have business issues in their client satisfaction.
• Social: This provides an understanding of the cultural values of the population of the nation. The UK is a diversified nation. The nation is of developed status and it has the inclinations based on linear culturalism. The UK has 500 million social users and it will provide advantages to the portability of Softwire (Keogh-Brown et al. 2020).
• Technology: This is based on the conservation of the innovation and technical considerations of the nation. The UK is a nation that prospers technological modifications and conductivity. The UK has stability in the business dynamics of the technological dimension and it also dominates the technological corporates of the UK. The technological advances received from the UK government are better and it can provide better promising results to the business dynamics of Softwire.
• Legal: In recent times in the UK there are many kinds of technological changes and these are based on the inclusion of equality and non-discrimination policies. This had provided Softwire to have better essences of inclusion and diversity in the organizational business dynamics.
• Environmental factors: UK has determined to have better business values in their environmental conservation programs. It provides the organization with a better essence of sustainability practices. This will provide the environmental sustainability practices and corporate social responsibilities of Softwire to have a better dimension of positivity. This will provide the organization to have a better essence of brand value change on a verge of success from an SME to an MNC (Malinauskaite et al. 2019).

Conclusion

Innovation is a kind of consideration that provides the design of the value creation and it also provides the capturing of mechanisms and it also provides the increment of profitability. It provides the significance of business stability in the hypercompetitive and turbulent environment.

It is going to provide the significance of linear sophistication and modulations of stability. Softwire is an organization in the UK which is having the classification of an SME. It needs the use of innovation and the organizational resources and potentials are parallel to the innovation process. The organization provides the circulation of software and websites.

The main clients are the tech companies in the UK and Europe. Softwire has to use innovation based on the client’s needs and it is also being provided with proper user-friendly assurances for all the organizational stakeholders. Innovation provides the anticipation of the market based on quick relinquishment and better opportunities.

It provides the circulation of positive responses based on the organizational yield. It also provides the essence of differentiation based on the value proposition of the organizational services. Softwire is going to receive the benefits based on the innovation linearity, and improvisation of cost reduction. Increment of better quality and reduction in alterations.

It also provides the formulation of product and service classification. Innovation provides the organization with better business dynamics on the verge of speciation.

References

Abdelkafi, N., & Pero, M. (2018). Supply chain innovation-driven business models: Exploratory analysis and implications for management. Business Process Management Journal.

Baker, A. (2017). Innovation 1.

Christa, U., & Kristinae, V. (2021). The effect of product innovation on business performance during COVID 19 pandemic. Uncertain Supply Chain Management, 9(1), 151-158.

Geissdoerfer, M., Vladimirova, D., & Evans, S. (2018). Sustainable business model innovation: A review. Journal of cleaner production, 198, 401-416.

Jajja, M. S. S., Kannan, V. R., Brah, S. A., & Hassan, S. Z. (2017). Linkages between firm innovation strategy, suppliers, product innovation, and business performance: Insights from resource dependence theory. International Journal of Operations & Production Management.

Kahn, K. B. (2018). Understanding innovation. Business Horizons, 61(3), 453-460.

Karno, C. G., & Purwanto, E. (2017). The effect of cooperation and innovation on business performance. Calitatea, 18(158), 123.

Keogh-Brown, M. R., Jensen, H. T., Edmunds, W. J., & Smith, R. D. (2020). The impact of Covid-19, associated behaviours and policies on the UK economy: A computable general equilibrium model. SSM-population health, 12, 100651.

Malinauskaite, J., Jouhara, H., Ahmad, L., Milani, M., Montorsi, L., & Venturelli, M. (2019). Energy efficiency in industry: EU and national policies in Italy and the UK. Energy, 172, 255-269.

Rangus, K., & Slavec, A. (2017). The interplay of decentralization, employee involvement and absorptive capacity on firms’ innovation and business performance. Technological Forecasting and Social Change, 120, 195-203.

Santos, G., Afonseca, J., Lopes, N., Félix, M. J., & Murmura, F. (2018). Critical success factors in the management of ideas as an essential component of innovation and business excellence. International Journal of Quality and Service Sciences.

Softwire.com (2022) softwire,  Retrieved from: https://www.softwire.com/service/design-and-innovation/evolve-your-software/ Retrieved on: [30 April, 2022]

Talentpool.com (2022) Top 20 London Start-Up and SME Employers, Retrieved from: https://talentpool.com/blog/top-20-london-start-up-and-sme-employers Retrieved on: [30 April, 2022]

Zhu, X., Xiao, Z., Dong, M. C., & Gu, J. (2019). The fit between firms’ open innovation and business model for new product development speed: A contingent perspective. Technovation, 86, 75-85.