Innovation and Change Chantelé Shaw QHT1 Task 3 Innovation and Change Student # 000258452 6/15/13 1|Page Innovation and Change The Concept of Innovation in Business Entrepreneurs use innovation as a tool to exploit change and take that opportunity to show a new business style or service. Innovation can be learned and practiced as it is a discipline. However there needs to be a sense of purpose when entrepreneurs are searching for their sources of innovation. Once the sources are found they will need to learn how to successfully apply those principles. Business opportunities are chances to do things better and differently.
Should Brent outsource technology development abroad so early? Which technology development strategy should EverTrue pursue? We have to consider whether Grinna should hire local programmers or a CTO to do the work; outsource the work using a global labor platform like oDesk; or partner with Dashfire, a new venture run by a friend that takes equity in startups in exchange for development work in India. Criteria: cost, speed of development, and control of intellectual property but also equity retention, proximity and ease of collaboration. He should go with Dashfire • Are some technology development options more appropriate for the short- vs. long-run?
It is “outside –in” thinking, which could help company to catch up with the market trend and develop products and services that meet the needs of customers. As we can see from the case, ECCO followed the inside-out strategy. * ECCO has a corporate strategy process that relies on the core competencies of the company to drive change, product development and innovation as opposed to external influences such as market, competition and customer preferences. The assertion by inside-out strategists is that a company achieves greater efficiencies and adapt more quickly to changing circumstances. ECCO is following an inside-out strategy (resource base strategy), whereas all the competitors seem to follow an outside-in strategy.
Justify your answer with reference to Novartis, Google and/or other organisations that you know (40 marks) Diversification can be defined as the practice under which a firm enters an industry or market different from its core business. This shows relevance in regard to a company’s corporate strategy, as it is the change in the company’s direction of business. The company is wishing to diversify their methods whether that is the product, market or service. A business strategy is the means by which it sets out to achieve its objectives, it can be described as a long-term business planning. The definition would describe growth as the process of improving measures of an enterprise’s success.
Organizational change processes are theories that can be applied in the business world. Carefully planned businesses changes are helpful because the theories have been carefully prepared and researched. Business owners should consider business trends to stay competitive in today’s economy. The staff mayt need to learn new skills or modify job duties. Because management and boards oversee businesses, they should carefully examine the impact of any change on the business.
| Roles and Behaviors | Entrepreneurs | The role of the entrepreneur in my business would be to make the public aware of us as a new company, and what we offer. More than likely I would try to entice current employees of Microsoft and Sony to come work for me, to have people with a background and experience in launching a new console. I think this is important because they will have a good idea of what marketing techniques to use and which ones are have less impact. The goal is to get people to stop buying
Provide an example of your start-up and how it fits or does not fit within Schumpeter’s view. 3. What are the stages described in the model of the entrepreneurial process? What are the factors that give birth to a new enterprise and influence how it develops from an idea to a viable enterprise? 4.
They can not only learn how to develop a totally new customized delivery system but also consolidate a good business relationship with HomeHelp which is a big customer. The major business proposition for HomeHelp is HomeHelp can create an innovative logistics application by allying with Woodmere in order to realize the goal of lower costs and less inventory. It is win-win game if the two companies join together to reduce overall channel
An Agile Approach to Project Management Leveraging Agile Practices to Improve PMO Effectiveness Liz Barnett EZ Insight, Inc. February 2009 ww w.thought wor ks. com/m ingle 02 TRANSFORMING PROJECT MANAGEMENT Agile processes help teams improve productivity, project costs, software quality, relationships among business and IT decision makers, and value delivered to the business. Steadily, IT organizations are increasing their adoption of Agile practices on mainstream software development projects in terms of both project size and geographic distribution. Yet despite individual project successes, the project management organization (PMO) is not prepared to accommodate Agile projects into its existing landscape, particularly in the areas of metrics and reporting. Its top-down budgeting and planning processes do not align with the short delivery cycles, customer-driven prioritization, and continuous evaluation of requirements that characterize Agile projects.
Figure 1 Harvard Business Review, 2008 Industry Environment Evaluating an industries environment is based on well-defined analytical tools as described in Thompson, 2012, (p. 34). What are the competitive forces and how strong are these forces, What forces are changing in the industry and the impact these changes will have on profitability, what market positions do rivals occupy, their strategic moves, key factors in future success and outlook to good profitability. Competitors Has Apple been able to stay competitive in this industry? Yes, as stated by Gamble, 2012, “Apple’s proprietary operating system and strong graphics-handling capabilities” have differentiated them from their rivals, but allowed them to move forward and change with the industry. Tom Coughlin in Forbes Daily Posts states that though “There are some limitations to a company’s ability to change what it does, Apple proves the point that” they can continue to become a high-mobility company” and not become stagnant within the industry.