HI6008 Business Research Assignment Sample
Here’s the best sample of HI6008 Business Research Assignment, written by the expert.
Introduction
This report examines the importance of open innovative strategies adopted to improve the internal and external business performances of SME. The challenges and the business opportunities are adopted to improve the operational works and new processes are adopted to improve the operational works. Different methods and processes followed by the management of SME’s are designed to improve the operational works by adopting the concept of open innovative strategies (Guräu & Lasch, 2011).
Objective
The objective of the research work is to find –
- To find how the concept of open innovative strategies help in improving the internal business performances
- analyse how the strategic values for the business conduct can be introduced for handling different works in the SME’s
- How the resources and the labour force can be effectively handled by the management.
Scope
This analysis will help in finding the accurate details about the adoption of the open innovative strategies to develop the better methods to increase the business activities. Facts and the information are collected to understand how the concept of open innovative method improves the operational works. The challenges involved with the fact collection and implementing accurate measures are implemented.
Literature review
Introduction
The research proposal is prepared to analyse how technology boosts the business expansion strategies small and medium sized businesses. SME’s face different types of business challenge, and it restricts the ability of the management to expand the operations and acquire the targeted performance goals. In this part of the review, the importance of innovation on the production improvement policies is examined.
Innovative strategies
SME’s face challenges in adopting the innovative strategies essential to acquire the desired goals. Bell & Loane (2014) stated that the major issues faced by SME’s are involved with handling the resources, reducing the business complexity, developing a co-ordinated method for conducting operations, and to achieve scientific excellence. Such challenges usually prevail due to the prevalence of unorganised operational methods that impacts the business activities (McAdam et al., 2014).
The management due to lack of resources and funds overlook the relevance of accessing the science excellence that helps in achieving the long and short term business goals. Laursen & Salter (2014) focused on the complexity that existed in selecting the technology and introducing the same for the benefit of the company. The concept of ‘open innovation’ is still new in the SME sector, due to the high costs involved with the process and the challenges faced in installing the process.
SME faces challenges in establishing a tie-up with the established companies and in retaining the relationship. This creates huge barriers that impacts the operational works and profits the company from applying the concept of open innovative strategies. As mentioned by Idrissia et al., 2012 majority of the SME’s operating in different industries face issues with the organisational activities and solving the cultural issues.
Such challenges restrict the management to enter into a venture program and improve the customer involvement in improving the performances. The other challenges faced are external networking process, conducting R&D, and improving the external participation of the members. These challenges and business limitations can be reduced by the management by adopting the policy of open innovation. In developing nations, an established government agency hub assists in creating and implementing innovation hubs that helps SME to get connected with the business associates (Padilla-Meléndez et al., 2013).
A positive and long term communication process is established as it assists in improving the process followed for the innovative practices. The policies are strategies to improve the international competitive, and improve the internal work conditions. Through the R&D process the managerial structure for the company is improved to achieve the competency level. Grants to adopt the innovative strategies and policies are introduced to improve the internal and external work conditions.
Open innovation policies
The policies designed for open innovation assists in improving the performances of SME’s. Such companies adopt the best R&D process and strategically focus on the relevant approach that helps in achieving the targeted business goals. SME’s are motivated to follow technology based SME process that is related with the requirements implemented by the policy makers. The policies are not supported by the government, and this creates a gap between the management and the government agencies to execute the works. By embracing the open innovation process, the management of SME’s adopt self-motivated and creativity in handling the challenging works involved with the small sized business houses (Bell & Loane, 2010).
In the innovative strategy, the management is trained to collect and analyse different business information that helps in achieving the goals and reduce the operational challenges. This system allows the management to create a positive and long term networking system that assists in improving the SME performances.
However, there is not standardised process followed by the management to adopt the innovative strategies for the SME’s. This creates an atmosphere of uncertainty and increases the challenges related to the openness that impacts the quality of the works required for handling the challenging works. SME’s are encouraged to adopt eco-innovative strategies that improve the performances and reduces the costs involved with the task performances. This process requires the managers to follow an informal and systematic process for open innovation policies (Comacchio et al., 2012).
The capabilities of the companies are measured through the absorptive and descriptive method. These processes are used to increase the interaction between the potential co-operation partners. Open innovation strategies help the companies to analyse the operational costs and introduce new measures to control the expenses. This process also allows the management to apply new knowledge and skills to improve the handed different challenging works.
With an open innovation policy, the management of SME can venture in the interaction business activities and deal with the different business activities. With the new technology, the management can introduce a new process for controlling the costs with the system. This helps in creating a co-ordination with the business associates and deal with different business related issues. Innovative strategies are designed to get accurate business activities and use the resources with the managerial skills.
New technology and improved production activities are introduced for increasing the business activities. The policies and the strategies are designed to deal with different business challenges and implement policies to acquire new market. Through the innovative strategies, the management design new methods to improve the operational works. Open innovative strategies help in designing the better method that will helping acquiring new businesses and improve the operational activities (Caetano & Amaral, 2012).
Research questions
- What are the strategies developed to adopt open innovative strategies required to improve the operational works.
- What is the process followed for collecting the information about the open innovative strategies adopted by the company.
Requirements
Effectiveness of the system
The facts and information presented by different authors were used in the analysis part. This process helped in analysing the relevance of the information at wees used to find how the policies for open innovative policies are improved to improve the performances. I analysed the information and selected an accurate measure to deal with different business related challenges. The performance impact on different SMEs was examined to find how the open innovate strategies helped in increasing the business performances.
View about the learning process
This course improved my knowledge on adoption and implementation of the innovative strategies through the open innovative policies. Through this course, I learned the relevance of implementing an accurate measure to deal with different business challenges that restricted the members or the management to improve the operational works and the task execution. The learning process was designed to get the accurate information about the course and it helped in increasing the skills required to deal with different issues that impacts the operational works.
Value of the experience
This course improved my knowledge about the course related to the open innovative strategies to improve the business activities.
Learning experiences
- Course – This course improved my knowledge about innovative strategies and its effectiveness on handling complicated works. Through the effective designs the management could develop and introduce new methods for increasing the value of the decision making process. This course helped me to adopt analytical skills that helped in increasing the business knowledge.
- Program – The program was based on the short term goals and intended the members to gather the related information that were used for improving the fact collection and its analysis. This program intended to allow the members to gather the relevant information about the course and improve the performances.
- Future career – My future goal was to form a small sized business organising. This work helped me to deal with different business related challenges that helped in dealing with different business related challenges
- Life generally – I learned to develop the analytical skills that helped in improving the fact collection and the analysis process. I learned to apply the innovative strategies in every step of my lie, and it improved by experience e and knowledge in dealing with different issues.
Objective in the learning
My objective was to handle the challenging part of the information collection and analysis that were used for the conduct of the work. This process was designed to improve the knowledge of the members and collect the facts from different sources. I referred to different journals and books that helped me to find the accurate information about the research work. The time and the phases of the work were decided, and this improved the quality of the works to be done by the members. I learned to plan and execute the tasks in different phases. This improved by ability to deal with different issues.
What was learned?
The business research method and its design have helped me to deal with the operational works. The policies and the strategies followed for the fact collection was an important factor. The research question helped me to deal with different issues that impacted the quality of the research work. Through the policy implementation method, I could collect the information about the facts that were supposed to be used for the fact collection.
Learning process
I differentiated the learning process in different phases and it helped me to collect the relevant information that was supposed to be used for the research work. Through the strategic plans I decided the time frame required for the conduct of the works and selected an accurate process for analysing the information. I was not good with the planning process and it consumed much of my time to decide the better methods for analysing the facts and the information required for the conduct of the research. I planned the process to collect the information and this included deciding the time and the books that were required for the collection of the details.
Plans to apply the knowledge
The knowledge and skills collected by the members would be applied by me in designing new methods for the conduct of the ideational works. I intended to improve by knowledge of fact collection and analysis, which helps in dealing with different issues. The analysis is done to improve mu knowledge and use the details in the right manner. With the process I intend to collect and examine the relevant challenges that impact the fact collection process. Knowledge require for the conduct of the business activities and the process followed for the information collection will be used to increase the quality or the ability of the members to deal with the challenges inlet with the business set-up I will apply this knowledge for creating my own business and to deal with different business challenges that could design a better method for handling the works related to the business activities.
References
Bell, J, & Loane, S. (2010). ‘New-wave’ global firms: Web 2.0 and SME internationalisation. Journal of Marketing Management, 26(3–4), 213–229.
Caetano, M, & Amaral, DC. (2011). Roadmapping for technology push and partnership: A contribution for open innovation environments. Technovation, 31(7), 320–335.
Comacchio, A, Bonesso, S, & Pizzi, C. (2012). Boundary spanning between industry and university: the role of Technology Transfer Centres. Journal of Technology Transfer, 37(6), 943–966.
Guräu, CL, & Lasch, F. (2011). Open innovation strategies in the UK biopharmaceutical sector. International Journal of Entrepreneurial Venturing, 3(4), 420–434.
Idrissia, M, Amaraa, N, & Landrya, R. (2012). SMEs’ degree of openness: the case of manufacturing industries. Journal of Technology Management & Innovation, 7(1), 186–210
McAdam, M, McAdam, R, Dunn, A, & McCall, C. (2014). Development of small and medium-sized enterprise horizontal innovation networks: UK agri-food sector study. International Small Business Journal, 32(7), 830–853.
Padilla-Meléndez, A, Del Aguila-Obra, AR, & Lockett, N. (2013). Shifting sands: Regional perspectives on the role of social capital in supporting open innovation through knowledge transfer and exchange with small and medium-sized enterprises. International Small Business Journal, 31(3), 296–318.
________________________________________________________________________________
Know more about UniqueSubmission’s other writing services:
