Introduction
This essay will be focusing on business analysts as innovators in organisations and why innovation should not be viewed as just a ‘’Lightning strike’ ’that cannot be planned for. . Innovation is the introduction of new ideas, methods, and processes to the business organisation, there are two types of innovation product and process innovation which will be discussed later below (Davenport, 1993) Firstly, the author will discuss and evaluate the introduction of innovation in the business organization. This is followed by an explanation of the principles of innovation and the role of the Innovator within an organisation with focus on the business analyst. Conclusions are then drawn demonstrating the importance of innovation in business
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2. The principles of innovation
2.1 Product and process innovation
Product innovation is developing a new product. Process innovation is improving the processes employed to produce or deliver the product, and to make it more efficient or productive (for example robot welders on the factory floor at Mercedes Benz). Generally product innovation is concerned with increasing revenue and process innovation with reducing costs (Hass,
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The role of the Innovator within an organisation with focus on the business analyst
The business analyst is fundamental in the business world and plays a key role in the success of the business as it is the business analyst who has to understand the problem of the business and the way in which to solve the said problems, the business objectives, and requirements validation (Riordan, 2012).
An essential purpose of business analysis by a business analyst is to “recommend solutions that enable the organisation to achieve its goals” (p3, BABOK v2, 2009). Sometimes this will involve helping organisations to ‘invent’ something new, although more often it will be to ‘innovate’ to improve something already in use.
3.1 Understanding the business problems and opportunities for solutions
The business analyst must thoroughly understand the problems within the business and must analyse as to how to solve the said problems, because if the analyst doesn’t properly understand the business problems he/she cannot spot the opportunities that are suitable to solve the problem in a manner that is efficient for the business, because as stated above the business organisation sought to revolutionize its business as low costly as possible (Riordan,
These analyses are structured to identify its Strengths, Weakness, Opportunities, and Threats. The Strengths and Weaknesses are viewed as internal to the organization, while Opportunities and Threats are viewed from an external perspective. Strengths and Opportunities are perceived as helpful to the organizations ability to meet its objectives and goals. Weaknesses and Threats are seen as harmful to the organizations ability to meet its goals. Strength
In this class we are expecting to run a business with competitors within the Footwear industry. With any industry there are many challenges within a company. Many companies, if not all want to be able to bring in the most revenues, profit, ROE, and have an image rating that will portray consumers to keep coming back and purchasing there products, there products are also reflected in the stock market. If a company cannot distribute and there goals and objectives on customer demands, the company maybe at the risk of failing financially, due to the amount of debt they may encounter trying to establish this.
5.2 Innovation and Technology In this section is going to be explained the role of the technology and innovation in Oakley. Since their origins, as is aforementioned in the introduction, Oakley has been implementing and improving its technology in order to be a leader in the market. Innovation is one of their principles and core values, the fact is that innovation means growth, because once the market becomes obsolete, the company that has been able to develop the next or future technology is the one that would lead the next generation of products, that is one of the reasons why Oakley focuses so much on innovation. Innovation comes from three different points; technology, market and design.
So, for that, I have planned to use SWOT analysis from which I will be able to approximate my strength, weakness, opportunity and threat. Also, it will help to figure out the strengths and weakness part of our business and may improve what needs to be redesign rather than changing everything. Success isn’t a simple task to accomplish without strong dedication and supports, but anything is possible if we have strong back supports. In my business, I have strong supporters who help me by sharing their ideas about our company's strength and weakness in every step to run the business efficiently. While I have back supporters as well as my strong dedication towards my business, still I am taking some level of risk, but my level of risk is relatively small compared to other business because I have enough investments and clients right away start on my business.
Opportunities and Threats are external; they are out there in the business sector, it cannot be change and for them it is critical for organisation to make possibility planning to gives them successfully. SWOT investigation can be utilised for both sorts of organisations in the business center whether existing or new. Existing organisations can utilise a SWOT investigation, whenever, to evaluate a changing domain and react proactively. While on the other hand, new organisations ought to utilise a SWOT investigation as a piece of their planning process (Rao, 2010; Ayub, et al., 2013).
It looks at the strengths, weaknesses, opportunities, and threats in a company. With the analysis of this company, it is crucial for the management team to work on strategies that will help it in overcoming the threats that is forcing them, including, the threat of increased competition and having lower ratings. Overcoming threats can be done by taking advantage of opportunities which are available like marketing strategies aimed at attracting new customers and maintaining the existing customers. Bibliography Griffin, R. W. (2012).
The business world is an area where innovative ideas meet technological advances to keep up with our fast paced society and this drives my passion to be a part of the business world. The business sector offers a variety of choices and careers which will not only allow me to follow a pathway that is tailored to my skill set but will also allow me to pursue my interest in accountancy and finance. My experience in life highlights to me the importance for an individual to be fully educated in this topic, thus enabling me to make a meaningful impact in the business world. Having completed work experience with KPMG over the summer has strengthened my desire to pursue a career in accounting. During this placement I responded to challenges set by KPMG
Internal analysis involves examining the business’ current situation from within the organisation, whereas external analysis includes factors that the business does not have control over but may need to utilize or avoid. The business should carry out a SWOT analysis, identifying its’ own possible strengths, weaknesses, opportunities that may arise and threats that they may face in the future. Strengths and weaknesses tend to come from within the organisation, such as good infrastructure or poor coaching staff, making them internal. However, opportunities and threats generally tend to come from outside of an establishment. Further political, economic, sociological and technological (PEST) analyses are carried out by an organisation to examine the opportunities and threats that may arise, such as a government grant or a new competitor in the
1.1 Explain the concept of the “customer experience” The concept of the customer experience is based on the idea of meeting the needs and expectations of the customer. It is also based on what the customer had got from purchasing the products and services, how good that service was/is and would they come back. The concept of the customer experience refers to the all the experiences the customer has with Salons Direct and is based on all dealings and opinions about us.
Disruptive Innovation Xiaomi is often mentioned in the context of disruptive innovation. But does Xiaomi qualify? Figure 2.0 (Christensen ) https://www.interaction-design.org/literature/book/the-encyclopedia-of-human-computer-interaction-2nd-ed/disruptive-innovation The theory of disruptive innovation was introduced by Clayton Christensen, of Harvard Business School, in his book “The Innovator’s Dilemma” (1997).
Creativity comes in many forms from the clothes we wear to the cars we drive to the homes and offices that we live and conduct business in. You don 't have to be creative in order to appreciate the benefit that we derive from someone else 's creativity. One area where creativity has made a significant impact is in marketing and promotional materials. Creativity continues to play a vital role on the Internet and the websites that we visit. The fact of the matter is that if you own or are thinking of publishing a website one of the first things you need is to talk to someone about Web Design in Melbourne.
Organizational set up has to be favourable to support new product development. Foremost companies must allocate funds for research and development, the conventional way is the percent of sales technique. Others chose to allow employees dedicate a certain amount of work time on new product development. Companies next have to organize the process of development.
AC 1.2 Analyse the impact of management and leadership styles on strategic decisions According to Chernett (2010) postulated that managers and leaders do not lead a single entity, being that everyone will have different needs and as well the need for strategic change of the organisaton. As such, it is of paramount importance for managers and leaders to recognize where they are developmentally and employ the appropriate leadership style (Chernett, 2010). Bear in mind that management must adjust and adapt to the business environment, including employees, corporate culture and advance technology in order to suit the surroundings. One such strategic decisions should benefit both the stakeholders and as well the organisation.
Also, External factors will measure current trends, address stakeholders, scan the organization to identify possible threats, and opportunities. All moving parts are deemed vital when creating an external and internal analysis. Moreover, analyzing and prioritizing will assist in the process of explaining operational plans, forecasting, removing barriers, and forming a new direction for the organization. A situational analysis refers to the internal and external environment within an organization. Besides, a situational analysis can be utilized to summarize all problems and opportunities that will affect the company.
Lindegaard (InnoCentive 2013) underlines that “innovation leaders of any organization should realize that when it comes to making innovation of all types happen, people matter more than ideas. Investing in the development of people who excel at the skills of innovation will play even bigger dividends than in past”. The steps for transforming organization are given in Exhibit 9 (Kotter