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Innovation, Change Management and Entrepreneurship Assignment Sample

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Innovation, Change Management and Entrepreneurship Assignment

INTRODUCTION - Change Management and Entrepreneurship Assignment

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Apple Inc is an American organization that is having its headquarters in California, US. This was a partnership business that came up with Apple I, a computer. In 2007 the firm came up with different ideas of iPhone, iPad, iPod touch, Mac, Apple TV, iTunes store, etc so that there is a better selling that the company can have (Kheit, 2016). The company found success with mobile devices that are a great factor. The business continued to improve its products so that it would create a stronger base.

Apple is having good hardware and software, is easier to use, OS updates when an individual wants it to and is way faster than the other products in the market. The company is still improving on the factors which are yet not explored and making sure that there is a higher standard which the business can have for them. The competition raised in the market, therefore innovation is helping Apple Inc in having a stable placing for them in the market because there are new unique features that the firm is providing. The report is going to be discussing the innovation and improvement for all the products and services of the chosen organization. It would make sure that there is a stable working for the company’s stakeholders, employees, customers etc.

ASSIGNMENT

Evaluation of innovation

The innovation process is going to have both negative and positive impacts on a business therefore it is important to analyse them effectively for the betterment of the firm. Innovation requires good understanding of the clients so that there is going to be an improvement in the products and services accordingly.

4P’s of innovation

  • Products

Apple-I is the oldest product of Apple Inc. and now they is having a variety of improvements so that there is a good customer base that they can have for them. Ideas of innovation have to be quickly that would make better effectiveness and functioning that company would have (Böttcher and Weking, 2020). Products are improved which are already existing in the market according to the expectations and the needs of the clients that is making the organization be able to have a stable working. Apple has a lot of products like the Macbook, iPod, etc which are being improved from time to time.

  • Process

Manufacturing of the products and services so that there is a good processing which would be there. Apple will have to make sure that there is a good demand and needs which is going to be present. Process can be used by including the right innovation in the product so that there is a good balance that is going to exist. Ios has been improved in the business to make sure that there is a good working and satisfaction of the clients is going to be higher.

  • Position

Apple has positioned them globally that is going to make sure that there is a good standard and sales that the company is going to have. Purchasing of the products and services of Apple Inc. is high which is because of the experience and knowledge of the market that can make the organization is able to have a good working (Nambisan, Siegel and Kenney, 2018). Apple launches new iPhone series each year for example, iPhone 12 in 2020, iPhone 13 in 2021 that has made sure that the organization is having the right idea to have the right working and positioning for them.

  • Paradigm

Influence of innovation has to be higher in firm would make sure that they are having accurate working. Customers will be attracted in the organization and make sure that there are right purchasing as well when the company is providing the clients with the best of products and services.

Seven sources of innovation by Peter Drucker’s

Stages that are present in this model are 7 Peter has explained in the sources that are demographics, unexpected, incongruities, market structure and change in perception, new knowledge and process need.

These aspects have to be considered when the business is getting in innovation in the establishment so that there is a good working that is going to be present. Innovation has to take place according to the clients so that there would be right processing and operations that the business will be able to take place (Lee and Gereffi, 2021). Market structure of firm is set so that there would be effective working and operations to gain competitive edge.

Define innovation, invention, change management and culture

Innovation means getting in new technique, process, establishment or an idea that is beneficial for the establishment to have for the long run. The company has to get in innovation in the products and services so that there is stability and superior effectiveness that would be present. The invention is creating something new in the market so that there is a better unique feature that they can have (Bruijl, 2018). Improvement has to be present so that there are good creations which the business must have so that there is a good product and services which the establishment can have and a better satisfaction level of the clients in the firm. Change management is a method to make sure that there is right implementation of the changes that are required by the company to have.

Apple is having a lot of products that are unique and have copy rights on them that is why the establishment has to make sure that the demands are being matched and the reputation of the business is higher as well (Lee and et.al., 2019). Culture is going to impact on the innovation and invention to take place so that there is an improved implementation and processing. Culture will make improvements in products of Apple be present. More of the external impact of culture there is an internal culture that is maintained so that the company would be able to have a stable working. Culture is going to get impacted by the way the organization has been operating which has to be understood by the establishment so that there would be higher operational. Apple has the right standards for them to be able to make sure that there is good reputation they have in the market that makes them have loyalty from the clients as well.

Diffusion of innovation, product adoption, product launch and disruptive innovation

Diffusion of innovation is a theory which is explaining how, why and what rate of new ideas and technology that is got in the market is being spread. Communication studies has to be higher so that there is a superior running and innovation in Apple would make sure that they are being able to satisfy the needs of the customers. Product adoption is a method and process which is used for understanding and learning so that there is a good uncertainty of changes (Wang and Dass, 2017). Product launching needs to be done according to the clients and make sure that there is a good launching according to the pricing and details that have to be put out in front of the clients.

Placing the product and launching date has to be well planned so that the product would be able to have the first impression in the market higher that is going to be a great factor for the products of Apple Inc. Testing is a very important measure before launching the product so that there are good operations and running. Apple has a superior experience therefore they would be able to make certain of good running. Disruptive innovation is going to produce expensive in affordable pricing in the market so that there is a better standard and working that Apple would be able to have (Schoemaker, Heaton and Teece, 2018). Technology for production is one time investment which would be sure that business is having a good working. Business must make sure that there is going to be accurate functioning and processing so that there is good working.

Value of Apple organization innovation practices and critical analysis of innovation

Creativity is present that has to be analysed and running upon that would have higher operational and processing. Innovation would make the performance be higher so that there are better individual operations. Expertise has to be present of market so that there would be better working and performance that would exist so that there is a higher operation and working that is present. There is a lack of investment that has to be present so that there is good component that there would be presences of good direction that is going to be present and failure would also be lower (Shen, Sha and Wu, 2020). Clear innovation strategy has to be present with Apple so that there would be right working so that leading suggestion which is going to existing for the long run of the firm.

There is no gap in the technology that is present so that there is going to be superior stability that is present that is creating superior operation. Apple is in the market for the long run and is targeting the business class that is why the establishment is putting in their best to make sure that there is good working of innovation that is present. Consumer have to get the best therefore there are so many innovations that are taking place (Prud'homme van Reine, 2017). Innovation has a lot of stages through which they need to go through so that they would be able to have a better working and processing that is going to make the company have fewer risks and make a higher impact in the market.

Stakeholder analysis

Customers, apple employees, investors and employees of suppliers and distribution are the stakeholders of Apple that have to be having the right information and knowledge of the business. Financial performance has to be better and responsibilities have to be higher so that there is good processing which is present (Faghih and et.al., 2018). Finance is always the priority of the firm so that there is a better structure that is going to be present and make sure that the services are well developed as well. Internal and external communication and transparency is present in Apple Inc that is going to make sure that there is a good working and performance in the market. Internal arguments are present in all the businesses but Apple is going to make certain of superior community.

Actions, objectives and policies make sure that there is a good affect that present in company which is going to make certain that firm is having higher competitive edge. Customers are going to be stable and make sure that there is good profit that the organization can have for the long run (Cusumano, Gawer and Yoffie, 2019). Investment is high in Apple since the company is having a good operation therefore they need the right processing to be able to have a stable working in the market. Apple employee are also the stakeholders of the establishment that are trustworthy and Apple Inc also makes sure that they are treating them right which is a very essential factor for the company to have. There is a lot of communication and understanding that has to be present so that there is good working and presences that is present for the establishment to have so that there is good performance that can be expected from the business.

Critical analysis theory

Stakeholder theory by Dr. F. Edward Freeman states that there has to be a positive relationship which is lasting for long so that correct interaction is there. Investors are not only people who have the right to know everything but in Apple Inc. there must be right information that is being passed on to all the employees for correct running and effectiveness in business (Kafile, 2018). Customers, suppliers, employees, communities, etc to have higher working and operations which business would have when they all are treated equal so that there is higher working and operations that are present. Opposition is present in businesses internal working that is going to be present that would make the working of the establishment is impacted that is going to make the operations be slower.

Apple is having higher trust and loyalty from the clients which has to be made sure that they get in good innovation and for any kind of change and innovation or invention there has to be good involvement of the stakeholders that must be present (Li and et.al., 2019). Advantages are present that there is going to be right operations but the disadvantages are that there is a lot of information that can be let out by the establishment and that would make the operations and working of the company be limited and that is not good to have for the long run. Focus has to be present on all the stakeholders which are present in the company so that there is a good development that is going to be present.

Matrix interest

There is a strong method that can be used by the business in order to make sure that there is a good energy that is going to be present for the long run. This matrix can be used in all the businesses in order to make certain of running and processing that is going to be present. Decisions are being made daily in Apple matrix to make sure that there is good working and performance that is going to be there. The power of customers is high in the business but they place at a lower interest level that has to be understood in order to be able to have the right working and functioning (Dastourian and et.al., 2017).

There are different stakeholders who are present and they all have to be monitored and controlled so that there is a good working and processing in the establishment. Focus of the company is going to be on the higher interest and higher power in the firm so that there is a better working and performance that is present.

Figure 1: Interest power

(Source: Business Analyst, 2021)

It is important in the firm to be aware of the interest matrix that is present so that there is a higher working that is present in the organization (Muñoz and et.al., 2018). Project life cycle has to be well managed according to the matrix that is present above so that there is a good balance that is going to be present.

There is a good support which has to be present for all the factors but the focus is still going to be upon the executives and other aspects of the company so that there is a good profit margin that is going to be present. Project has to be made stronger to make the right working and performance so that there is higher working and processing that is going to be there (Leonidou and et.al., 2018).

Impact of disruptive technologies

Disruptive technology is a system that is going to make the superior and another working of the company be higher so that there is a standard that the company can have for themselves. There is a lot of improvement which the firm goes through and for that to take place smoothly there has to be right working and functioning that is very important for the establishment to have (Demirel and et.al., 2019). Risk-taking companies are going to take disruptive technologies in the organization to get recognition in the market that is a very essential factor for them to have. Businesses have to make certain of accurate functioning and positioning for themselves which is to make the investment be higher as well. Disruptive technology is going to need more economic factor for the growth of the business in the market so that there is higher development and growth that an organization like Apple must have which would make great factor. Products and services are high of apple that is going to make sure that the company is being able to have the best of working and performance that business must have (Escobar-Sierra and Calderón-Valencia, 2020). Leading changes in the market have to be adapted by the establishment to be able to have correct working and performance for an organization to have so that there is better working.

Evaluate models of change

Model of change are good for Apple since the presence of good direction in the establishment. A good sense of direction is going to result in higher functioning and operations but it is very crucial for the businesses to make certain of accurate working which is present as well (Coulson-Thomas, 2017). The drawback of having a change model for the company is that the processing is going to be slower and make the working of the organization be better. 6 components of change management are objectives, risk assessment and management, communication plan, plan, manage resistance and continuous improvement.

These aspects have to be controlled and monitored by the company so that there is good work that the establishment is going to have and the reputation and portfolio of the company is not at risk. Beginning and end of the change management must be done with a good designing and planning so that there is higher working and processing which organization is going to have for the long run of the business (Lounsbury and et.al., 2019). Due to Covid-19 and Brexit there were a lot of changes that came in the working and cultural differences in the product and services but the firm make the right decisions with time. The company has to make sure that they are going to have a better working and processing in order to have a good branding and value for themselves in the market.

Value of ideas and change initiatives

Any change in Apple Inc. is well-motivated so that firm would be able to have higher standards for them. Changes are very essential in Apple with time because the expectations and standards of launching new products each year is high in the company (Ghezzi and Cavallo, 2020). Ideas when valued are going to be a motivation and any kind of reward for them is also the organization to make right working and decisions for them to have a stable working.

For the continuous improvement initiatives with are taking place need to have the right balance that is going to be present. Changes management comes in Apple effectively but there are some risks that are involved with the internal working of the company. There is an improvement in the technologies and series of products which the establishment has to be improved and innovated in some way or another (Sirine and Kurniawati, 2018). It is crucial to make sure that balance that is present is effective so that business would be able to have an improved running that would exist.

Recommendation for change management

Change management is present in Apple Inc. is because of the experience which the organization has gained by staying in the market from so long. Apple Inc. employees are aware of the changes which are required by the products and services with time so that there is a higher working and processing that is present by the organization (Machado and Davim, 2020). Changes are got in slowly and over one year’s time so that it is going to make sure that the employees are going to be aware of them and make the working be constant. First step of change is communication that the business is having high technologies and experts in the organization to make sure that there are superior operation and processing.

Change management theories are according to the motivation level of the employees to make sure that there are higher operations and working that the organization has for them. Change curve must be understood well so that the organization has right steps for right performance and improvement according to it so that the organization can gain the competitive edge which they have wanted (Rattanakosin, 2020). Models are highly used by the establishment so that the internal working of Apple Inc. is not getting impacted and the processing of the organization is going to be stable.

Process of change in organisations

The pressure that the company is having of global distribution and political powers there are changing, these impacts the trading and other aspects that are present. It is crucial for businesses to make sure that they are taking right decisions in respect to the changes which are taking place (Cunningham and et.al., 2019). Different countries have, various methods to operate and the GDP may also differ therefore it is very essential for firm to have improved working and processing in order to be able to have a stable operations so that the establishment can have higher functioning.

Change is a pressure that a business has over them since Apple promises to take out a new product each year therefore they have to make sure that there are good changes which are being present for the long run of the business in the market. Managing the working and risks in both the hands the firm has been able to have a good working and positioning for themselves so that the establishment would be able to have a stable working and processing for themselves (Pasillas, Brundin and Markowska, 2017). There are challenges which are present for businesses that must be overcome so that business would be able to make sure that there is good working and processing that is present.

Importance of human capital culture

Human capital culture is high in Apple Inc. that is that the company is having a lot of pressure for the working and making sure that there is higher working and routine that the organization is going to have. Employees are the backbone of business therefore it is important to involvement in the working of the establishment and especially when there are changes that are taking place then the employees must be included (Leal-Rodríguez, Peris-Ortiz and Leal-Millán, 2017).

Employees of Apple are very much involved in the decisions and the changes which are taking place so that there is a good working and positioning of the firm that is going to be stable for the long run. Kotter has developed a model of 8 stages that are establishing a sense of emergency, building a guiding alliance, creating the change vision, communicating objectives for the change, empowering broad actions, accelerating shorter outcomes, through transforming the changes into traditions.

Figure 2: Kotter's 8 step change model

(Source: The Easy Guide to Kotter’s 8 Step Change Model, 2021)

This change model is very helpful in Apple Inc. for the long run of the company which is important for any establishment that are having higher operations to exercise (Mazzei, 2018). These stages must be followed by the firm as there is a good working environment and common grounds for the changes to come in easily for the organization’s employees, staff etc. and the risk factor is also going to be lower.

CONCLUSION

It is observed that there is good innovation and invention strategies that Apple Inc. is using for them in order to have higher profitability and loyalty of the consumers. Unique features have to be added in business which attracts a higher consumer base and make sure that the competitive edge which the company is having is of high-quality. The market is having competitors and they have to be overcome so that the business will be able to make a stronger place for them so that there is a good placing and purchasing that is going to be having a better working. There are models to make sure that the risks factors of the company to be lower in order to make sure that there is good stability that the business is having. Innovation makes any company such as Apple have a better positioning for them in the market in order to be able to have better working and functioning in the long run.

REFERENCES

Books and Journals

Böttcher, T.P. and Weking, J., 2020. Identifying Antecedents and Outcomes of Digital Business Model Innovation. In ECIS.

Bruijl, G.H.T., 2018. The relevance of Porter's five forces in today's innovative and changing business environment. Available at SSRN 3192207.

Coulson-Thomas, C., 2017. Stimulating creativity, enabling innovation and supporting entrepreneurship. Management Services2017(Summer). pp.26-29.

Cunningham, J.A and et.al., 2019. The impact of university focused technology transfer policies on regional innovation and entrepreneurship. The Journal of Technology Transfer. 44(5). pp.1451-1475.

Cusumano, M.A., Gawer, A. and Yoffie, D.B., 2019. The business of platforms: Strategy in the age of digital competition, innovation, and power. New York: Harper Business.

Dastourian, B and et.al., 2017. Women entrepreneurship: effect of social capital, innovation and market knowledge. AD-minister. (30). pp.115-130.

Demirel, P and et.al., 2019. Born to be green: new insights into the economics and management of green entrepreneurship. Small Business Economics. 52(4). pp.759-771.

Escobar-Sierra, M. and Calderón-Valencia, F., 2020. Impact of students' cultural values on the corporate entrepreneurship management linked to social responsibility. International Journal of Intellectual Property Management. 10(4). pp.375-395.

Faghih, N and et.al., 2018. A framework for business model with strategic innovation in ICT firms: The importance of information. The Bottom Line.

Ghezzi, A. and Cavallo, A., 2020. Agile business model innovation in digital entrepreneurship: Lean startup approaches. Journal of business research. 110. pp.519-537.

Kafile, M., 2018. A framework of intrapreneurship development for corporate entrepreneurship: a case study of organisational development. Educor Multidisciplinary Journal. 2(1). pp.171-191.

Leal-Rodríguez, A., Peris-Ortiz, M. and Leal-Millán, A., 2017. Fostering entrepreneurship by linking organizational unlearning and innovation: The moderating role of family business. Management International/International Management/Gestión Internacional. 21(2). pp.86-94.

Lee, C.S and et.al., 2019. EXPLORING THE ROLE OF STRATEGIC ORIENTATION IN BUSINESS INNOVATION. Journal of Competitiveness Studies. 27(2). pp.90-101.

Lee, J. and Gereffi, G., 2021. Innovation, upgrading, and governance in cross-sectoral global value chains: the case of smartphones. Industrial and Corporate Change.

Leonidou, E and et.al., 2018. An integrative framework of stakeholder engagement for innovation management and entrepreneurship development. Journal of Business Research.

Li, S and et.al., 2019, October. Impression on Participating in the Practice of College Students' Innovation and Entrepreneurship Education. In 2019 International Conference on Advanced Education Research and Modern Teaching (AERMT 2019) (pp. 266-268). Atlantis Press.

Lounsbury, M and et.al., 2019. Culture, innovation and entrepreneurship. Innovation. 21(1). pp.1-12.

Machado, C. and Davim, J.P. eds., 2020. Entrepreneurship and Organizational Innovation. Springer.

Mazzei, M.J., 2018. Strategic entrepreneurship: Content, process, context, and outcomes. International Entrepreneurship and Management Journal. 14(3). pp.657-670.

Muñoz, P and et.al., 2018. Advancing sustainable entrepreneurship through substantive research. International Journal of Entrepreneurial Behavior & Research.

Nambisan, S., Siegel, D. and Kenney, M., 2018. On open innovation, platforms, and entrepreneurship. Strategic Entrepreneurship Journal. 12(3). pp.354-368.

Pasillas, M.R., Brundin, E. and Markowska, M. eds., 2017. Contextualizing entrepreneurship in emerging economies and developing countries. Edward Elgar Publishing.

Prud'homme van Reine, P., 2017. The culture of design thinking for innovation. Journal of Innovation Management. 5(2). pp.56-80.

Rattanakosin, R.I.C.E., 2020. Innovation and Change Management. RICE Journal of Creative Entrepreneurship and Management. 1(3). pp.36-45.

Schoemaker, P.J., Heaton, S. and Teece, D., 2018. Innovation, dynamic capabilities, and leadership. California Management Review. 61(1). pp.15-42.

Shen, J., Sha, Z. and Wu, Y.J., 2020. Enterprise Adaptive Marketing Capabilities and Sustainable Innovation Performance: An Opportunity–Resource Integration Perspective. Sustainability. 12(2). p.469.

Sirine, H. and Kurniawati, E.P., 2018. The importance of spirituality dimensions in the development of entrepreneurship. Diponegoro International Journal of Business. 1(2). pp.55-70.

Wang, X. and Dass, M., 2017. Building innovation capability: The role of top management innovativeness and relative-exploration orientation. Journal of Business Research. 76. pp.127-135.

Online

Business analyst, 2021. [Online]. Available Through: < https://www.businessanalystlearnings.com/ba-techniques/2013/1/23/how-to-draw-a-stakeholder-matrix>.

Kheit, J., 2016. Apple Innovation timeline- Revolutions keep on turning. [Online]. Available Through: < https://www.macobserver.com/columns-opinions/editorial/apple-innovation-timeline-revolutions-keep-turning/#:~:text=Eight%20of%20them%20%28marked%20by%20asterisks%29%20were%20really,7%20iTunes%2FApp%20Store%2FDigital%20Commerce%20%26%20Distribution%208%20Siri >.

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