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BMS 409 Innovation and Enterprise Assignment sample

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Introduction Of BMS 409 Innovation and Enterprise Assignment sample

Innovation is an action which is used by the organization in order to make sure that their customers is having a better experience. Mous is getting in innovation in their products and services so that they would be able to have higher customer base and also keep in mind that their products are not impacting the environment. Mous is using autoalign material for the manufacturing of the cases for laptops and mobile phones which is a method to make the customers have better technology experience. The following report discusses the analysis of this product and improvement so that there is better stability which the product can get in market.

TASK

LO 2

Organization idea and innovation benefit

The company is focused on the experience of the clients and their quality of the accessories so that they would be able to provide the best to the clients. There is a clear mission and vision which the company is having so that there would be able to gain the right working and processing which is going to make the details of the firm is well maintained. Mous does not speak for the company but they let the product and services speak for themselves which means there will have to focus on this aspect in order to make sure that there is going to be a higher benefit which the establishment is having for themselves. The company listens to the customers and works on the feedbacks and also makes customized products for the clients if required. To be able to make a strong place for the firm it in the market the business must know the clients so that they would be able to make a strong place for themselves.

There are a lot of offers and other unique factors which are being added in Mous to make sure that they are being able to maintain the client base so that they would be able to have the right profit margins. The company is focused on the autoalign material which the company has come up with for the clients so that they can have a better experience with the technology which they are using. There are a lot of promises which Mous is making to their customers like lifetime warranty, global shipping, and impressive material to protect from shock and the most important autoalign innovative magnetic technology which is new for the laptop Rainatto and et.al (2020). There are a lot of customers which the business can gain if they would be able to get in this new product and service in the market.

Theories of innovation and generation development

As per the view of Chávez-Tellería, Repellin-Moreno and Mendieta-Jiménez (2017), for idea generation to products need the right steps which must be taken which is good internal sources, market research and rivals so that there is going to be right actions that are being taken. Businesses in the market have to make sure that they are taking the right actions and analysing all these stages in order to make sure that there good innovation which is being taken. The company has to make sure that there has to be right analysis so that they would be able to make the innovations accordingly so that would be able to make the right working and processing. Important steps cannot be skipped in the organization to be able to gain competitive edge and higher profit margins so that there is stable economic factor.

As the author states that Vizinho and et.al (2021), Roger theory of diffusion of innovation has stages which have to be understood by the company to be able to make the right working and processing in the market. Early adopters, early majority, late majority and laggards are the stages which are involved in this stage. These stages determine the stage at which the product is in the market and then accordingly the marketing and placing of the product can be done in the market which is a very important factor for the company to have. Product finds a highest in the market where it gains stable profits but then from there the difficulty starts as well which is maintaining that reputation of the product in the market. The customers can not like the product as well which is why it is essential to make sure that the company is taking the right actions accordingly.

In according to Barrera (2019), theories of innovation can only work if the company is having a little experience or knowledge about the market. There are a lot of necessary actions which must be taken by the organization in order to be able to gain the right attention in the market. There are so many innovation processes which are being followed so that they would be able to produce new and better products in the market. It is important for the organization to make sure that they are doing better than the rivals in the market so that there is going to be right product sales in market Etzkowitz, Dzisah and Clouser (2021). Rivals would make the product not be able to do so well in the market therefore it is important to make sure that there is good communication and loyalty of the customers in the business.

Development of product, process, or service.

Getting in Autoalign innovation in the laptop cases is a very good innovation which Mous can come up with so that the organization would be able to make a higher standard for them. The product is going to have difficulties in making sure that there are right actions which are being taken into considerations making the product be able to make a strong place in the market. Getting autoalign material in laptop cases is going to be difficult because of the weight of the laptop which is present and placing it on a magnet is going to be a task which Mous will have to understand. There are a lot of actions which can be considered by the Mous to make sure that they are taking the right actions to make sure that there are right actions which are present (Kroll, 2019). Initial sales have to be made or other promotional methods to make sure that this product would be able to make a strong place for themselves in the market. It is very important to get in innovation to make sure that there is good adoption of ideas that are developing so that the company would be able to make a strong place for themselves in market. Spreading the innovation in the rivals is not going to take place which has to be understood by the company so that there are right actions and improvement that there can be for themselves (Lacom, Bazzaro and Sagot, 2017).

Innovation in laptop cases can come in but the company will have to make sure that they take the right actions to make sure that there is no lose in the reputation in the market. This is a very risky measure which can be taken by the establishment therefore it is important to make sure that they take the right steps and actions to overcome this aspect (Heringer and et.al., 2019). There has to be good diffusion that is present in innovation to reach the match of the clients which makes the company be able to make a strong base for themselves in the market. Indications are present for the product by the theories and other aspects which is good for the overall development of the firm. Consumer are going to want new products and styles and variations in the products which are being served therefore it is very important for them to make sure that there are right working which is going to be there.

Initially there has to be good internal sources which can verify if this product is going to be working in the outside market. It is important to make sure that the product is being able to make a strong place for them in the market. Influence has to be good as well of the organization which would make sure that there is good branding which is present and reactions is going to be higher as well (Xie and Fang, 2020). Feedbacks have to be taken from the loyal in order to make the changes and improvement in the product accordingly which is beneficial for the company to have for the long run in market. This is a very effective factor for the firm since they are following the environmental laws which would make sure that there is effective and right working in the market. Timeframe working is very important in the organization in order to make sure that there are higher operations and working which they are having (Keiding, 2019).

LO 3

Proposal

Aim:

To provide more varieties to the clients which are present in the market and give the competitors a good competition for a longer run

Objectives:

  • To make the company have a unique identity in the market.
  • To increase the profit margins by 2023 by 40%.
  • To have higher sales by 30% by the end of 2024.

The company has to make sure that they are having the right placing of the product in the market so that they can capture the attention of the client. It is very important to make sure that the targeted audience are being well satisfied with the products and services of the company. The company is going to be targeting the audience which is using technologies a lot and this way the company will be able to have the right clients as well. The company is going to put the product online as well as offline in order to make sure that there is going to be right working which is present. The company has to get the right attention of the clients to make sure that there is good working and performance that is present.

Recommendations

Recommendations for Mous for being able to implement autoalign material are that they have to make sure that they are following the right standards in the organization. It is very important for the firm to make sure that they are having the right working and functioning which comes in when there are right theories that are implemented (Oliveira, Echeveste and Cortimiglia, 2019). There has to be good sense of direction so that there is going to right existing working which is present. There has to make sure that there are acceptable performances which are taking place in the company so that there are strong grounds which are present. New innovation methods are going to make sure that the establishment is being able to have the right performance and right working so that the firm would be making a better place (Dias and et.al., 2020). Innovation has to be done to make sure that there is going to be right working which is going to make sure that the company is having better functioning and operations which are present in the market. Reviews are given by the clients on the site which helps the audiences to get attracted to the site and makes the sales be higher of the company.

Planning for the product

The material which is to be used in autoalign cases of laptop must be made with minimum raw material so that the company would be able to gain the right attention and working in the market. There are a lot of ideas which are developing in the market and other rivals would also copy and make similar products that can take away the standards and market positioning of the company which has to be well maintained (Ohlberg and Salmeron, 2020). Services have to be effective of the organization so that there would be able to make a strong place for them. Innovation is good but if the right methods are not being used then the company would not be able to have a better operations and working for them. Generation innovation has to be done so that there is a long run of the product in the market and ideas have to be fresh in the market so that Mous would be able to make a strong place for themselves in market. There has to be innovation frugal method which can be implemented by as well so that there are right methods and functioning which is present for the organization to have a smoother run. Knowledge is present with Mous because they understand the clients well and make the products and services also accordingly (Engelbrecht, 2017). There are a lot of offers as well which the company is making so that they would be able to gain the loyalty of the clients. Knowledge and experience would make sure that Mous is having the right methods and strategies to get in autoalign laptop cases in the organization which is beneficial for a long run.

CONCLUSION

From the above report it can be concluded that there is a requirement of getting in new ideas and innovation in businesses to make sure that there are right actions which are being taken. For getting in innovation there has to be good planning and measurements that must be taken in order to make sure that there is good working and positioning which is required. Targeting and marketing the new product is very important to make sure that there is right growth that is current in the market. Innovation has a lot of theories which are present in the market for the businesses to implement so that they would be able to make sure that there are right working and functioning which is present. Public must find it feasible to approach the product so that there is going to be right working and internal environment also have to be supportive. Justifications have to be given before any new product is coming in the market so that the company would be able to make a place for themselves in the market. The competition in the market is also high and to support this factor there has to be right working and performance which must be there so that the company would be able to get the right economic factor and further investment plans can be made.

REFERENCES

Books and Journals

Barrera, C.C., 2019. Innovation proposal to promote oral production skills in second language learners. CONTRIBUTION TO THE FIELD OF ESP. p.53.

Chávez-Tellería, R., Repellin-Moreno, A.A. and Mendieta-Jiménez, B.A., 2017. Entrepreneurship and innovation lab: A proposal for the enhancement of an entrepreneurial profile in undergraduate students. In ICERI2017 Proceedings (pp. 7484-7489). IATED.

Dias, A.S and et.al., 2020. Proposal of a Holistic Framework to Support Sustainability of New Product Innovation Processes. Sustainability. 12(8). p.3450.

Engelbrecht, H.J., 2017. A proposal for a ‘national innovation system plus subjective well-being’approach and an evolutionary systemic normative theory of innovation. In Foundations of Economic Change (pp. 207-231). Springer, Cham.

Etzkowitz, H., Dzisah, J. and Clouser, M., 2021. Shaping the entrepreneurial university: Two experiments and a proposal for innovation in higher education. Industry and Higher Education. p.0950422221993421.

Heringer, M.R and et.al., 2019. Innovation in brazilian private higher education: A proposal for the application of active methodologies based on the flipped classroom. International Journal of Innovation. 7(2). pp.321-340.

Keiding, V., 2019. Teaching innovation to engineer students: a proposal for an operational process model. In The 47th SEFI Annual Conference: Varietas delectat… Complexity is the new normality. European Society for Engineering Education (SEFI).

Kroll, H., 2019. How to evaluate innovation strategies with a transformative ambition? A proposal for a structured, process-based approach. Science and Public Policy. 46(5). pp.635-647.

Lacom, P., Bazzaro, F. and Sagot, J.C., 2017. Proposal of a Modelling of the Innovation Process in an International Manufacturing Company. Journal of technology management & innovation. 12(2). pp.26-33.

Ohlberg, K.H. and Salmeron, J.L., 2020. Proposal-Based Innovation: A New Approach to Opening Up the Innovation Process. In Innovative Technologies for Market Leadership (pp. 201-231). Springer, Cham.

Oliveira, L.S.D., Echeveste, M.E.S. and Cortimiglia, M.N., 2019. Framework Proposal for Open Innovation Implementation in SMEs of Regional Innovation Systems. Journal of technology management & innovation. 14(2). pp.14-20.

Rainatto, G.C and et.al., 2020. A New Proposal for Innovation Indicators: A Study of the World's Largest Patent Producing Countries. International Journal of Business and Management. 15(4).

Vizinho, A and et.al., 2021. Rural Renaissance, Multifunctional Landscapes, and Climate Adaptation: Trilogy Proposal from Grassroots Innovation and Participatory Action Research Projects.

Xie, G. and Fang, S., 2020. Research on the Mechanism of the Effect of Employment Model on Employees’ Innovation Behavior: Proposal of Conceptual Model. Open Journal of Business and Management. 8(04). p.1375.

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