LD7088 Innovations in Business & Technology Assignment Sample 2023
1. Understanding of innovation theories and concepts
In this age, innovation is one of the most essential and key requirement of any organization in order to sustain accurately. To do so, it is essential to implement wide range of techniques and applications so as to satisfy the changing requirements. The report on the creative limited was prepared to find how the businesses could be expanded and the challenges are overpowered. Different theories are applied and it is well adopted and introduced by the leaders.
Firstly comes the aspect of the Disruptive Innovation Theory and according to this theory Creative Limited needs to either create a sense of disruption in the already existing market that they have or they can also create a completely a new market overall Creative Limited can spread their brand name not only in entire UK but also at the Global level (Abdo, 2015).
It is also palpable everything has one positive and one negative side so as the Disruptive Innovation Theory has and that is this type of principle is not at all effective as per the meeting of the end side customers satisfaction level is taken in to consideration. The second innovation theory that can be followed is that of the Sustaining innovation theory and as per this theory is concerned it focuses on the improvement and the growth of the already existing market and this principle. Also on this important role in satisfying the needs of the end side customers and that in turn is going to bring profitability to the concerned company (that is Creative Limited in this case) brand name concerned Creative Limited not only in United Kingdom but also at the Global level (Reinares, 2015). Only then, it could be effective in attracting customer’s base from the entire globe thereby amplifying its net profitability and income range. And at the same, the productivity of the company could also get increased to a significant range that could prove extremely useful in this recent time.
Other than this (that is Creative Limited in this case) can easily follow the Incremental innovation principle and according to this there are small and gradual changes that are taking place in the concerned company on the already existing matters and infrastructure contribute a lot in of. The report also states the area of improvement, where the necessary changes in the business conduct were decided and accurate changes were introduced. These were associated with the incremental innovation that was made for improving the business activities and increasing its capabilities to meet the external competition in the market. This would in-turn improve the sustainability strategies that helped in retaining the market for the longer time (Hannibal, 2018). If such is not maintained then the sustainability cannot be retained and it could prove extremely troublesome for the firm to remain active in this changing situation.
In this report architectural innovation principle plays an important role for the Creative Limited in this case) to make more improvement or development on the already existing technologies and the infrastructure. In addition to this it is also an evident primary components remains the same new infrastructure Creative Limited in this case) quite robust in nature and that in turn makes the company quite developed and spread their name (Mateu,2015 ). It is extremely necessary to plan for the organizational growth for the company.
In this report that innovation model needs to be introduced in the field of marketing and for that there can be use of the different social media platforms, use of the artificial intelligence concept and also an effective market survey team (that is Creative Limited in this case) in the current as well as in the future scenario. In this report Diffusion if innovation is a channel by which the innovation plan can be transferred to the each and every member (that is Creative Limited in this case) (Ertem, 2015).
2. The use of web-based technologies solutions
It is quite an apparent information to condition in this account that IT systems and the allied platforms are very much prevalent for the purpose of the effective marketing overall Creative Limited in this case) and the platforms that can be used are as follows: Firstly there can be Video about the product which in turn is going to have an in depth matter about each and every aspect of the product and that in turn makes each and every end side customer to be aware about the product and that in maximize Creative Limited in this case) as it can capture more number of to animated info graphics and that in turn is quite capable enough to present each and every material and the aspects of the company to the end side prospects and convert then in retain them span going to maximize the profitability (Eagleson,2017 ).
mention in this report that there needs to be presence of the Animated Explainers and that in turn is going to have the content about the product details, the way the product functions and what is going to be the future prospect of the concerned product and that in turn gives the end side customers a good and vivid idea about the product that and that in maximizing the profitability for the firm. The artificial intelligence process allowed the companies to collect the information on the real time basis, and conduct the market analyses so that the right policies could be introduced. This helped in framing the right policies to increase the production works, and in improving the profit margin.
In current times most of the people are in the social media platforms and the marketing team Creative Limited can use those social media platforms to push up the notifications about the latest products and the developments that are happening in their company and this in turn is making the users of those social media platforms to be aware about the product retaining them for a longer period of time and the brand name and its improvement is determined by the company. It is necessary to stabilize the market and in acquiring the future goals. Artificial intelligence was recommended for improving the developmental process, where the chat bots were used for increasing the quality of the customer services and to render the better support to the people. The issues faced by the clients were identified and the issues were accurately handled by the management so that the sales are improved. This was needed for creating the brand name for the company (Slaats, 2016).
In adding up to this it is also an manifest information to condition in this report that intelligent email content framing is going to schedule and handle emails of multiple end side customers in an effective strategies that highly contributes to meet the needs of the clients and to meet the expectations of the company. This enabled the company to create a brand name on the global level. In addition to this the IT process of the company would have several features that would provide the benefits to the company in many ways and they are as follows: Firstly it is going to know about the purchase behavior of the end side customers and that way it is putting an effect on the concerned company’s growth, on site interactions with the customers and that would contribute to get the information on the real time basis, and to meet the client’s needs at the end level. It is the evident fact that the big data reports were properly prepared and it was analyzed on the real time basis, where the needs of the end clients were successfully met. The report is also prepared to find how the digital information was used for dealing with the market situations and in acquiring a position at the global level (Grgić, 2016).
The development (that is Creative Limited in this case) in the current as well as in the future scenario. In this report that Diffusion if the innovation is a channel by which the innovation plans can be transferred to the each and every member.
3. Identifies the impact of a future disruptive innovation
Disruptive technology is newer than today’s economy. Recognize the opportunity to recognize existing efforts and opportunities to help your business reduce potential risks and stay in a competitive environment. To grow, global organization must adopt a culture of investment to break the foundations of global business innovation. The role of the business leader is quite important. They need to update their organizational strategies in the face of uninterrupted technology. Disruptive innovation will be a game changer in the years to come, but it will be too late for the organization to maintain the “wait and see” policy to fully impact the economy. Small and medium business leaders are in a better position to use disruptive technology than multinational corporations. The business leader needs to be flexible and open in order to survive in the long run and embrace disruptive innovation for business leaders (Knight, 2018).
The real disruptive innovation will certainly have an impact on the economy and society, and they will gain the skills to start the restructuring process once they enter the market. First, it can be said that selected disruptive innovations were occurred during the Industrial Revolution. Each of these revolutions involves the modernization or replacement of existing industries and technologies, changing their effectiveness and related processes and thus affecting the economy, the environment and society. It can be concluded that the disruptive and conflicting features of innovation were influenced by past industrial revolutions and may follow this pattern in the future. Moreover, to show that the authors are related to each other, some interactions such as productivity, standardization and automation have a direct impact on unemployment. It should be easy to understand what innovations are hurting by returning to the presence of “disruptive innovation hype” and explaining the characteristics and effects they should have in the economy and society. Some modern “disruptive inventions” do not open up to the characteristics of the revolution and cause many economic and social crises (Changed al. 2017).
Customer preferences and needs are changing in modern times. Thus, companies must endure continuous transformation to be within the market. The organization knows that today’s successful business model can be outdated tomorrows. This is the real time, when the structure and policies of the organization will be reviewed, re-confirmed and compressed. Moreover, new technologies and innovations will continue to evolve on the time as well asset will affect the flows of revenue flows in a huge way. With each new technology, there are two options for businesses to select from: holding the current markets and improving existing practices or adapting to new technologies and business models. Organizational leaders ought to be restrained themselves, before the technology affects the productivity of the organization. In order to broaden the business spectrum, the organization needs to take the help of innovation like information technology or artificial intelligence and make the most of it (Brummer, 2015).
For example, Amazon is one of the largest e-commerce giants; Amazon always uses data analytics to its advantage. After talking a few decades ago, organization used to responsive to the demand of the customer. Now companies are trying to predict customer needs using data generated by customers on the Internet. Companies try to bring these products before customers decide to purchase the product, all based on their predictive big data analytic. Along with that, it uses one on the product collaborative filtering on numerous data point, for example wish list of customers, the order history of customers, product reviewed by the consumer, customer location and more to manage the experience of customer browsing. For example, Amazon use big data to track and protect their billions of their products in their retail stores which are laying almost their 200-distribution center all over the world.
4. Evaluate an innovation strategy for a new technology-based product or service venture
It is quite an evident fact that the concept of the Cloud Computing is marketing and the sales for Creative Limited and the factors that are considered are – first it is going to play an important role in tracking the real time marketing leads which is very important for determining the growth and development of the organization in order to increase the competency level, where the market contenders are successfully meet. This in-turn would highly contribute to the development and improvement of the company, and it would be used for launching the company on the global platform. It is also an evident fact to mention in this report that Cloud Computing is going to conduct the marketing campaign quite effective in nature and the factors contributing to the growth of the company are highlighted (Knight, 2018).
Cloud Computing contributes a lot in the real time personalization to the end side customers and this would highly analyze the needs of the clients and help the organization to expand the operational works. The Cloud Computing real time data or the information can be well accessed in understanding the needs of the clients and it would assist the manufacturers in deciding the right manner for meeting the needs of the clients. A positive change is required for increasing the operational works and in rendering the right type of services to the clients. In addition to this it is also an evident fact to mention in this report that is going to perform the scalability of the concerned company (that is Creative Limited in this case) (Vieta, 2015).
Other than this mention concept of the Cloud Computing is going to play a pivotal role in controlling the production charges and in adopting the best technology to successfully conduct the businesses. The objective is to ensure that there is a proper business continuity where the growth and developmental processes are determined and the needed changes are introduced for acquiring the operational goals. Fact mention in this report that the concept of the Cloud Computing is going to be helpful for the flexibility in the work (Špeh, 2016). Thus, it can be stated that cloud computing is extremely essential and it need to be implemented for further progress of the company in the coming years.
5. Consequences of technological innovation and the impacts on society, environment and political agendas
It quite a technical innovation is going to play pacing up the speed of the economic growth and this enables the leaders to expand the operational works for the company. The way by which the technological innovation is contributing to the society’ growth can be classified in to two types and they are as follows: Firstly by means of maximizing the inputs and the necessary changes are adopted to increase the productivity for the company. The other means are to develop new ideas that would increase the number of inputs and then required for handling the business based requirements. New prospects are adopted and the process of increasing the brand name is designed and implemented by the management. The management focuses on adopting the innovative measures where the external environmental factors are included for making the relevant changes to increase the business performances.
Secondly it is also going to affect the performance of the Company in a positive manner and that in turn is going to contribute a lot for the overall growth and the process to adopt the right means and processes to increase the business performances are adopted and implemented. The report highlights the details of the disruptive innovation is such that it totally hampers the already existing business framework and that in turn might bring huge amount of loss to the concerned company (Reusser, 2018).
Disruptive innovation is such that it makes the entire companies functioning structure quite complex in nature and that in turn is becoming a huge roadblock in the growth and the development of the company. In addition to Disruptive Innovation is going to penetrate in to the market at a very high degree and that in turn is going to make a damaging effect on Creative Limited in this case) in the current as well as in the future times. Disruptive Innovation Theory and according to this theory Creative Limited needs to either create a sense of disruption in the already existing market that they have or they can also create a completely a new market overall progress of (that is Creative Limited in this case) and can spread their brand name not only in entire UK but also at the Global level. The evident fact is based on the report where the diffusion for the innovation is highly focused on adopting the innovative means that would be useful for the improvement of the company. The firm in turn is making the users of those social media platforms to be aware about the product and retaining them is going to make the brand name of quite stable in the market in the future moment. Artificial Intelligence is generally used for the development of the chat bots and that in turn is going to contribute a lot in the effective customer support for the concerned contribute a lot for apprehending the requirements of the clients where the designs for approaching the clients are determined. These are necessary for developing the brand name for establishing in the target market (Li, 2018). Doing so, the image of the brand could get enhanced and the preference rate of the consumers could also get minimized significantly in this aggressive scenario. Therefore, the services need to be augmented constantly so as to remain updated in this ever changing era. Failure to do so could not only disturb the entire situation but also the market value of the brand considerably.
6. Recommendation
The recommendations that can be made from the in depth and vivid analyses the aspect Disruptive Innovation Theory and according to this theory Creative Limited needs to either create a sense of disruption in the already existing market that they have or they can also create a completely a new market overall progress (that is Creative Limited in this case) and can spread their brand name not only in entire UK but also at the Global level. Second innovation theory that can be followed is that of the Sustaining innovation theory and as per this theory is concerned it focuses on the improvement and the growth of the already existing market and this principle. Also on this important role satisfying the requirements of the end-side customers are determined, where the profitability factors are highly considered. The brand name is highly focused on and the necessary changes are adopted and implemented in the task conduct.
Other than this it is also an evident matter that the concept of the Cloud Computing is going to play an evident role for the development of the company, and for this the existing market condition are determined and the necessary changes are implemented. Artificial Intelligence is generally used for the development of the chat bots and that in turn is going to contribute a lot in the effective customer support for the company where the needs of the clients has to be apprehended and the relevant changes are introduced by adopting the best design that would be useful for increasing the performances. It is also recommended that the concerned company (that is Creative Limited in this case) need to access the facility and innovation which development environment and in turn (that is Creative Limited in this case) not only in the local level but also in the Global level. So it can be well concluded from the fact that if the above mentioned recommendations are solely followed then (that is Creative Limited in this case) is not only spread across England but also it will become a globally acclaimed company. Other than this it is also an evident fact that some of the measures so that it can affect the company’s growth in positive manner (Cascio, 2016). Otherwise, the company could not improve its self in this competitive scenario as compared to many others. At the same time, the profitability and market share of the company could also get deteriorated thereby hindering its path of growth. Hence, the customer likings and desire for the product could become lowered and this could prove extremely disturbing for the organization in the coming years. Therefore, it is extremely necessary to implement varied types of inventive techniques and technologies so as to improve the products and services. Only then, it could prove useful for the organization in the upcoming scenario as compared to many other rival players. In contrast, it could result in a very problematic scenario for the brands to perform effectively in this scenario.
Thus, it is through innovation, an organization can easily remain active and effective. Without which, an organization cannot prosper in this competitive scenario as the number of rivals are increasing rapidly. So, it is important to implement varied types of inventive activities in order to satisfy the requirements of the clients in an effective way so as to remain in the top-most position despite of the economic distress.
References
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