In this assessment you will analyse the impact of one specific type of innovation on various organisations.
1. Choose a type of innovation (product, process, technological or service).
2. Discuss the most important milestones for this innovation and how they have affected organisations
3. Recommend 3 future developments of this innovation for organizations based on your research.
It can be said that innovation in any organization is welcomed aspect it can be said that innovating new aspects and dimension always take the company ahead of their competitors in the market. Although management of the innovation is the nourishment of the innovative approach which the workforce of the firm has. Management and innovation are two closely related aspects and involve both innovation as well as change management. It can be said that the innovation management is the key term that can be used for such process within a company. Taming of the innovation of a company to the company’s objectives and goals is the major objective of Management In innovation of an organization. In this assessment, there will be discussion over the aspects of innovation that will be under the technological innovation area.
Discussing the area of Innovation
The area of innovation that will be focused in this assessment is innovation in Mobile E commerce under the technological innovation. The innovation will be done in order to boost Ecommerce field of a business and help organization to increase their financial size through e commerce activities (Nambisan, Lyytinen, Majchrzak, Song, 2017). Mobile Ecommerce is one of the modern trend innovation for business to enlighten their business activities. It can be said that mobile ecommerce will ease the business activities of a company and specially will help in proper connectivity, communication and coordination of business activities in a business entity (Muheki, 2016). It can be said that transactions through e payments, monitoring the work efficiency of the company, tracking deliveries, checking for current business report all in one go is the goal of this innovation (Goffin & Mitchell, 2016). Mobile E commerce will also diverse the range of operation which is present in the current business operational framework. Mobile Ecommerce is very advantageous in terms of achieving goals such as fast-paced business tracking. The operational activities of the firm will increase as Mobile Commerce will increase the communication of the organization. Mobile Ecommerce will increase the span or are of business in which the firm is operating. It can be said that Mobile Ecommerce is modern way of business conduction. As the use of mobile phones increased in every aspect of human life it is very evident that employing the following in the business activities for the sake of E Commerce will be adequate and reasonable as it will increase the market efficiency of the firm to trade and communicate with their clients (Shetty, 2017). Deprived of all innovation it can be said that in the age of growing digital platforms mobile ecommerce innovation supporting the commerce related operation will be the most beneficial aspect that a business can extract from modern e commerce activities. Mobile Phone are general and using it for business purpose is the most profitable option instead of hiring or purchasing high end machines for business activities of the firm (Sinkovics, Kuivalainen, Roath, 2018). This is suitable for all the SME’s in the world as the cost of maintain a Mobile E Commerce operation will be very low as well as efficient in comparison to any other digital media ecommerce (Westland, 2016).
Discussing the most important milestones for this innovation
One of the major milestones that can be there for this innovation is its adoption of the following by most of SME’s in the e commerce activities. Mobile is the most easy platform or device that can help entrepreneur to reach the ecommerce world through ease and efficiency (Al-Sabaawi & Dahlan, 2016). SME or entrepreneur running SME’s can easily cut down in cost to enter the commerce trade, increase the operational range, and achieve sustainable rate of growth. One of the major milestones through mobile e commerce will be its characteristics to provide every ecommerce facility to its user. This will enhance and attract a lot of organization as ecommerce for smartphone or mobile phone will decrease the cost of maintaining ecommerce drastically (Bowers & Khorakian, 2014). This will result in an increase of use of ecommerce through these device platforms (Ferrara, Newkirk, Hanson, Nordquist, 2014). Making it efficient to operate e commerce from all type of devices under the Cell phone category will be the major milestones that can be there in the technological innovation of the current trends. If the milestones are met significantly, it will be very evident to say that the innovation will be very beneficial for its user. It will enable the SMS to grow up there market and achieve sustainable rate of growth benefitting there financial health in the market. It can be said that through the use of effective mobile ecommerce Platform Company can transform their business activities and regions of business operation effectively. It can be said that communication will increase which will benefits the organization in effective increasing its overall efficiency (García-Peñalvo, Blanco, Sein-Echaluce, 2015).
Discussing on how innovation has affected organizations management approach
Now it can be said that management of a firm will be most benefited party through this innovation of Mobile Ecommerce. As it can be said that management will be able to coordinate, communicate and connect through more effect and ease. Through this operating workforce will increase significantly. It can be said that through the use of the following business e commerce the management approach will be affected in the following ways:
1.The approach of management towards cost reduction will increase as the managers now will tend to use mobile ecommerce to cut down cost related to management of the e commerce trade through different platforms. It can be said that the management will now look to use a cost efficient mobile ecommerce to increase the profit margin of the firm.
2.The management of the firm will focus on ecommerce trade through, mobile to enhance their trade efficiency now there are various instances where physical meeting are not possible. Management through Mobile Ecommerce will tend to increase the number of customer through efficient promotion skills and communicate without any physical meetings this will increase the working areas of the firm and the management will be able diversify the operating range of the firm (Mergel, 2016).
3.Management approach for both internal and external communication will now rely on mobile ecommerce. They will be able to communicate and monitor their business activities in a more efficient and easy way. Hence it can be said that approach of management to communicate in their business will change and will now be based on Mobile Ecommerce.
4.Monitoring tendency and approach of management towards monitoring their business performance will now be base on mobile ecommerce technology they will be able analyze the market position through the use of Ecommerce more efficiently. They will also be able to monitor the current marketing trend base on which the marketing decision would be made (Golembiewski, Sick, Bröring, 2015).
5.The marketing activities or marketing approach of the management in an organization will change and will now be dependent on Mobile ecommerce as its will render an open and diverse market to the management of the organization (Strese, Adams, Flatten, Brettel, 2016).
Recommending 3 future developments of this innovation
The recommended future development in the innovation is as follows:
1.Mobile commerce is needed to be more consumer friendly it can be said that easy to moderate and accessibility is currently there but further development in this field will increase the usage of the following innovation in future days of business activities. It can be said they making the M commerce more efficient in terms of usage will be beneficial for a firm to operate and choose the following way of Ecommerce. It can be said making the commercial field more relevant to the customer will make the the following innovation more efficient (Chrisman et al. 2015).
2.Security and privacy issue development is also major development that is needed by the following innovation to develop in the future. Making the e payment, more secure increase the trustworthiness of the process in the future is a major development needed in this aspect of Mobile Ecommerce. It can be further said that increasing financial confidentiality and confidentiality of customer detail is also major development needed in thisinnovation model in the near future. Making security and confidentiality development will embrace companies to use the following in the future days of operation.
3.It can be said that one of major developments needed in the such innovations is automated filters. This means trading on ecommerce website through Mobile Device become more specific and business operation elated. Search engines on these more model become more service and business protected which provide automated filters of the search input by the user at one go increase its effect to perform as per the desire of the user (Lichtenthaler, 2015).
Concluding in the light of above context it can be said that the Mobile Ecommerce is huge innovation which will enhance the e commerce activities of SME as it’s low on cost and highly efficient. It can be said that through the use of mobile ecommerce companies will be able to enter a open and diverse market which will be very beneficial for its future growth and financial size.
Al-Sabaawi, M. Y. M., & Dahlan, H. M. (2016). MULTI-INNOVATIVE FRAMEWORK FOR SOCIAL NETWORK MARKETING ON SMALL FIRM PERFORMANCE IN CUSTOMER DECISION-MAKING PROCESS. International Journal of Advances in Engineering & Technology, 9(6), 610.
Bowers, J., & Khorakian, A. (2014). Integrating risk management in the innovation project. European Journal of innovation management, 17(1), 25-40.
Chrisman, J. J., Chua, J. H., De Massis, A., Frattini, F., & Wright, M. (2015). The ability and willingness paradox in family firm innovation. Journal of Product Innovation Management, 32(3), 310-318.
Ferrara, T., Newkirk, R., Hanson, M., & Nordquist, D. (2014). “The Role of Technical Education in Creating Companies” Dunwoody Alumni Entreprenuers.
García-Peñalvo, F. J., Blanco, Á. F., & Sein-Echaluce, M. L. (2015, October). Educational innovation management: a case study at the university of salamanca. In Proceedings of the 3rd International Conference on Technological Ecosystems for Enhancing Multiculturality (pp. 151-158). ACM.
Goffin, K., & Mitchell, R. (2016). Innovation management: effective strategy and implementation. Macmillan International Higher Education.
Golembiewski, B., Sick, N., & Bröring, S. (2015). The emerging research landscape on bioeconomy: What has been done so far and what is essential from a technology and innovation management perspective?. Innovative Food Science & Emerging Technologies, 29, 308-317.
Lichtenthaler, U. (2015). A note on outbound open innovation and firm performance. R&D Management, 45(5), 606-608.
Mergel, I. (2016). Agile innovation management in government: A research agenda. Government Information Quarterly, 33(3), 516-523.
Muheki, C. O. K. (2016). Leveraging data for financial inclusion in developing economies. Newsletter, 2016.
Nambisan, S., Lyytinen, K., Majchrzak, A., & Song, M. (2017). Digital Innovation Management: Reinventing innovation management research in a digital world. Mis Quarterly, 41(1).
Shetty, A. D. (2017). E-commerce Industry Significant factor for the Indian economy.
Sinkovics, R. R., Kuivalainen, O., & Roath, A. S. (2018). Value co-creation in an outsourcing arrangement between manufacturers and third party logistics providers: resource commitment, innovation and collaboration. Journal of Business & Industrial Marketing, 33(4), 563-573.
Strese, S., Adams, D. R., Flatten, T. C., & Brettel, M. (2016). Corporate culture and absorptive capacity: The moderating role of national culture dimensions on innovation management. International Business Review, 25(5), 1149-1168.
Westland, J.C., 2016. Global innovation management. Macmillan International Higher education.