Innovation and Business Development
In this assessment you will analyse the impact of one specific type of innovation on various organisations.
Instructions:
• Choose a type of innovation (product, process, technological or service).
• Discuss the most important milestones for this innovation and how they have affected organisations
• Recommend 3 future developments of this innovation for organizations based on your research Important
This assignment consists of Part A (1500 Word Written Report) and Part B (3 minute video) pitch. BOTH parts must be submitted in order for the assignment to be considered complete. If one part is NOT submitted, then the assignment is considered incomplete and will not be marked.
Part A: 1500 Word Written Report (30% of total grade for subject)
Your report should address and include the following elements (for more details, please refer to the marking rubric):
• Cover page, Introduction
• Discuss the major sub-types of your innovation or the area of this innovation you are going to focus on (eg mobile commerce within technological innovation, or self-service innovation, design innovation)
• Discuss the most important milestones for this innovation
• Discuss how your innovation has affected organisations management approach (Use company examples in your answer)
• Recommend 3 future developments of this innovation for organizations based on your research. N.B. Timetable/costs/charts should be placed in an appendix and not included in word count.
• Use of appropriate presentation style and references – Use at least 15 academic references (using the 2010, Academy of Management style)
Expert Partial Solution
Introduction
Innovation is the act of transforming an invention or idea into a product or service that produces value or for which consumers will pay. For an idea to qualify as innovative, it must be replicable at an economical cost and satisfy a particular need. On the other hand, business development is the overall growth of a given business regarding service delivery, the capacity of production and integration of advanced and efficient technologies in its operations. This paper will analyze the impact of m-commerce on various organizations. It is crucial to understand that mobile commerce is the utilization of a wide range of mobile-driven applications, including making bills payments to mobile banking. It is usually done while away from your home computer and involves tasks such as transferring funds between accounts, monitoring account balances, bill payments and locating an ATM. Therefore, it means that the account holder using mobile commerce does not have to visit the bank premises to access the banking as mentioned above services. The paper will discuss the major sub-types of m-commerce, its most important milestones, how it has affected organizations’ management approach and conclude by recommending three future developments required in this particular innovation.
Major Subtypes of M-Commerce
This section highlights the five top categories of mobile commerce and discusses the potential benefits of consumers and consumer protection issues related to the five categories.
- Premium Services and Content
Under this sub-type of mobile commerce, cell phone users can purchase electronic information and digital content using systems such as text messaging (Lehr & Pupillo, 2009). The acquisition charges are added to their cellular device bill. The consumers use the system to access fee-based services which include different mobile information
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