Managing Innovation Assignment Solution

Managing Innovation Assignment Solution

Managing Innovation Assignment Solution

Section A: summary of an interview with an entrepreneur/innovator

Why did you select this individual to interview?

I have selected different entrepreneurs for conducting the face to face interviews such as Nick Mann who is Co-Founder & CTO of Rotageek, Simon Murphy who is Founder & CEO of RefLIVE and Katy Barfield who is CEO of Yume Food. I have selected these individuals in order to gain insight into innovation capabilities. These individuals have innovated different things in a different industry as it would lead me for making innovation in my interested field i.e. organic food industry [26].

What insights did you gain from talking to them?

From talking to these entrepreneurs, I have gained my insights that confidence in their personal capacity can aid to bring innovation in business. I have also observed that Nick Mann is highly encouraged and have high energy. This energy enables him to decline the complex task of entrepreneurship and encourages him to attain the goal of the company. Furthermore, all entrepreneurs are highly encouraged and have high power. Their power can make competent to them to avoid the difficult task of entrepreneurship and leads other individuals for attaining the objectives of the company. In spite of these, Simon Murphy is an entrepreneur who is open for criticism and advice. Besides this, Katy Barfield learns from the criticism and applies the required alteration to their businesses.

What will you do differently based on your discussion?

I will discuss different factors for creating an effective base in an interview. There would be a number of entrepreneurship that will have different business skills with high experience hence, I will discuss the model for gaining the innovation capabilities. These discussions can have a favorable impact on the innovative entrepreneurship. I came to know that innovative entrepreneurship will need of management skills and the capability for managing the transformation. I will also discuss the number of personal attributes that aid me for innovative entrepreneurship such as the ability to make innovation, being transformation oriented and creative leadership.

What advice could you offer this entrepreneur?

I will give advice to each entrepreneur as per their innovation. I will advise to Nick Mann to use optimum utilization of resources to gain competitive advantage and increase the profitability in the market. Moreover, I will suggest the Simon Murphy to make long-term objectives for meeting their expectation in the targeted time period. I will also give advice to Katy Barfield to use low-cost pricing strategy that aids her to sustain in the market the and also effective for pulling the attention of bulk of customers.

Provide a summary of the date and time of the interview, the length of the interview, the format of the interview (i.e. in person, phone or video)

Following table shows the data, time and length of interview and format of the interview that will use by me to conduct the personal interview on different Entrepreneur:

Name of Entrepreneur

Designation

Date

Time

Length of Interview

Format of Interview

Nick Mann

Co Founder & CTO - Rotageek

1/10/2018

11.00 am

15 min

Open ended questionnaire

Simon Murphy

Founder & CEO – RefLIVE

2/10/2018

2 pm

15 min

Open-ended questionnaire

Yume Food

CEO of Katy Barfield

3/10/2018

11.30 am

15 min

Open-ended questionnaire

Section B:

Reflection: reflect on their innovation capabilities and discuss perceived strengths and areas for development (e.g. feedback from others, past experiences, etc.)

To assess my innovation capabilities, I have conducted the different independent entrepreneurial assessment. These tests were helped me to clarify my personality and other factors associated with entrepreneurship. For acquiring the information about my personality, I have conducted the entrepreneurial test. Personality is significant for every success of an entrepreneur. There is a large number of entrepreneurs who observed that my personality contributes to success. From getting the feedback from others, I came to notice that I have sustainable innovation skills that aid to obtain the success. Most of the people believe that I have confidence in personal capabilities that would aid me to bring transformation. I have also gained my experience with the success of entrepreneurship. This was beneficial for me to understand that problem solving and innovativeness is beneficial for obtaining the success.

I have increased my learning that being in business indicates that an individual would be prone towards the competition. There is a large number of entrepreneurs who have different personalities that make sure them to be competitive without the fear of breakdown. I have gained my understanding of the T type personality tests, Bill Wagner’s Personality test and DaVinci type personality test [11]. These tests were demonstrated different questions with the aim of assessing the personality. I have conducted T type personality tests that define that my personality fit for being an innovator as I have scored high in this test.

By conducting the HBDI personality test, I have recognized my tendency to think. This tendency leads me to illustrate whether I am more likely to make theoretical or experimental in thinking. Although, this tendency could be different in different sectors but it aids a person for discovering the right profession. For me, these tests assess the key issues that are required to become good entrepreneurs. These tests have different quadrants. In this way, the first quadrants focus on my capacity for solving the issues. In this quadrant, I have learned that I need to be competent for thinking logically and assesses the factors earlier making judgments. The second quadrants determine my competencies for executing the decision [16]. The next quadrant determines my competency related to communication that aids to become a good entrepreneur. It aids me to communicate and ensures to coordinate other stakeholders in the business. The fourth quadrants of test assess my capabilities to take the risk. Risk taking is significant for me as an entrepreneur and as it would support to me to deal with issues and respond towards the setback.

Another test developed was the marketing test [15]. In this way, marketing is significant for the business. This test assesses how I can be aware of the marketing strategies and potential market. I have conducted a market research assessment that is essential for a business perspective. This test also identifies how I can understand the needs of the market. The questions demonstrated help the person for assessing the required market investigation in order to obtain the higher return [29]. Another test was conducted by me was related to leadership. This test aids me to assess my qualities of leadership. Moreover, entrepreneurs are leaders in their respective companies. To become a successful entrepreneur, I need to become a good leader.

Strength and weakness

Assessment of personal capabilities and practices of entrepreneurial test competent me for discovering my weakness and strength as an entrepreneur. The assessment was developed with respect to organic food delivery business that I have in mind.

Organic food delivery is related to providing the healthy and quality food. It takes the form of business expansion. I have investigated that customers face the health issues by consuming the fast food. Thus, it indicates that my innovativeness and creativity is my strength. The innovativeness would make competent to me to reach at the solution of customer’s health issues. My strong base is innovation and creativity that is feasible for doing the business [30]. This experience will make competent to me to offer the organic food to customers to resolve the health concern of people. The analytical skills were acquired by me through the education system that would compete to me to get the rational solution of the concern.

Through the personality test, I was competent for assessing my strengths with weaknesses. From the test, I have realized that I am assertive and outgoing. This quality is significant for entrepreneurs. The quality would facilitate me to deal with other customers. The assertiveness is also my strength that aids me to deliver the organic food to their potential customers. It would aid to increase the demand of customers and fast growth. The assertiveness also supports me for negotiating the business with the potential partner of business [28].

Problem-solving is a key component of the success of entrepreneurs. Through the HBDI test, it is demonstrated that I have capabilities of good problem-solving. Organic food delivery is related to offering natural services that will focus on solving the individual’s health concern [26]. The capabilities will also make competent to me to deal with the customer’s issue with no difficulty.

The weakness is address from the test was leadership and communication challenges. Furthermore, the assertiveness was identified for impeding the interpersonal communication by threatening the other party. In the context of leadership, my leadership quality was addressed and self-centered. For overcoming the issues posed my personality is communication and leadership. I would invest in the field of ensuring the enhancement. Furthermore, the personal reflection would competent me to be sensitive towards other people in communication and respond feasibly towards the psychological requirements [25]. It would also make competent to me for declining the intoxicating charisma. For improving my leadership skills, I would like t register in the leadership course. It would help me in leading and managing individuals.

Planning:

Develop a plan of how they intend to maintain/develop their capabilities on an ongoing basis

This section includes the plan which is formed with the motive to maintain or to develop the capabilities on an ongoing basis.

Milestone

Time duration

Description

Entrepreneurship Awareness campaign

Twice in a week for 6 months

Mass entrepreneurship awareness related to the innovation is one of the factors through which they can learn different skills.

Entrepreneurship Development training

2 months

This includes the intensive training for the 5 days in a week for the full training program that contributes to bringing the innovative development of entrepreneurs [20].

Ideation, Business planning workshops

2 month

Workshops on innovation, generation of the idea and forming the plans are essential for the entrepreneurs to learn more related to the innovation in their actions.

Mentoring and incubation

1 month

Expert mentoring, linkage with the domain that is particular to the incubator and funding opportunities. This mentoring can be received from the experts who are already expert in making the decisions.

Discuss strengths in terms of innovation management and also how they will capitalize on these strengths going forward

As an entrepreneur, I am creative and competent to reach with the solution by using the creative way. In my school, students relied on me to arrive at the solution when they have confronted the challenge. I have been capabilities to practice my innovativeness and interest in the organic food industry in the diverse way [22]. I have prepared a software engineering application that can help to order the organic food and helps to solve the issues. At my business, I developed a software application that aids me to prepare for every day. Along with this, my colleagues have discussed with me about the issue of this software that aids me to make a necessary transformation in it [19].

Along with this, my positive belief aids me to enhance my qualities of entrepreneurship. I believed in my capabilities to bring transformation for society and have it as accountability to make favorable changes. Although, few people were not comfortable with the assertiveness but I take it as a contribution that should be used for the good purpose for the people [18]. My inner drive supports me to eliminate the unfavorable reactions and pessimistic view of other people.

Skills and capabilities they should focus on developing plans

The entrepreneurs of the Organic industry should focus on different skills and capabilities while developing the plans within the industry. These skills and capabilities include leadership skills, the capability of solving the problems, capability of making the decision and skill of communicating the things effectively [16].

The leadership skill helps in taking the right step and to lead the organization and industry. This skill will further help in developing the plans for the organization for the activities. Moreover, in the development of the plan, there is a need for the skill of decision making because each and every action includes the decision of the brand that is taken by them [15]. These skills can be developed and learn by the company with the help of the campaign and training centers. Further, the entrepreneurs need to maintain the capabilities of solving the issues which are faced by them. The workshops contribute to making the mind more active and diverse which is further used by the entrepreneurs in resolving the numerous issues [12]. Moreover, the training activities have brought the ways through which they can communicate with the team effectively which is must for the entrepreneur for developing the plans within the organic food sector.

Develop these skills should be laid out using the SMART framework

Following are the SMART framework that would be used by me to develop my skills in a given time period:

1. To improve the leadership skills by attending the program in the next 6 months
2. To enhance the communication skills by participating in events and campaign in the next 3 months
3. To develop the problem-solving skills by discussing with my colleagues in next 1 months

Section C: Overview of the models of innovation
Selection and application of the most appropriate models for effective innovation management

Chain-linked model

The chain-linked model of innovation was illustrated by mechanical engineer Stephen J. Kline in the year of 1985. It was further discussed by both Kline and economist Nathan Rosenberg authors in the year of 1986 [11]. The chain-linked model is related to making efforts to explaining the difficulties in the innovation procedure. This model defines that new information is required for driving the innovation. In spite of initiating the process with the recognition of an unfilled need of market [13]. This drives design and investigation and then redesign and production, and finally marketing with complex feedback loops amid all stages. There is also significant feedback loops with the company’s stored base for knowledge that is used to conduct the new basic investigation and fill the gaps [10]. This is opposed to the linear model of innovation where basic innovation may lead the applied development and then focuses on engineering, producing and finally developing the marketing and distribution channels.

Applications

The Kline model was highly considered the commercial industrial setting in mind; however, it has been found that there is wider applicability in other settings such as in organic food delivery software development [8].

The spiral model

The spiral innovation model is used for designing the development of the product as a spiral demonstration. In this way, each loop is a phase of procedure [4]. Spiral development procedure is relevant for the development of software. This process works effectively with emergent ideas and software related to a partial solution like alternative sequences of event, interfaces, and algorithms [7].

The principle of developing the spiral is an evolutionary model for developing the system. This model integrates the iterative nature of prototyping with the methodical strategy of stage process. Each stage of development procedure end with the assessment of uncertainty and developing a prototyping that is in the working version of software [3]. Furthermore, inclusive and closing version of the product would be developed after the feasible number of iterations [27]. Each prototype is practiced for assessing whether the project should be stopped, continues and regressed at the initial phases.

Abernathy and Utterback’s three phases of innovation

As per this model, innovations are combines ideas such as the development of old opinion and creating new ideas. These ideas are associated with the products and things. The idea is supported by the procedures and way of performing the things. Furthermore, successful innovation may tend to create the meticulous winning integration of process and products. This dominant design may win until the beaten by something innovative and creative [29].

Triple helix model

The triple helix technique is related to the neo-evolutionary innovation model. It is a model of assessing the innovation in the knowledge-based nation [9]. Triple Helix is an innovative model that illustrates the multiple mutual relations in different points of gathering the known procedure. This model is categorized by a different dimension. The initial dimension is the internal changes in each helix like the growth of lateral connection amid corporations, strategic alliances and the assumption made by some companies to the economic development of the mission. Another dimension is the mutual communication of propeller persuade over another. The third dimension is to generate the new overlay associated with trilateral networks and companies [17]. The communication of three propellers helps to arrive at the new ideas and formats for developing the high technology.

Select one of these models/approaches which they feel is most relevant to the entrepreneur interviewed and his/her industry sector

The model that has been selected is Chain-linked model because this model is most relevant to the entrepreneurs who were interviewed. The entrepreneur who was interviewed includes Nicki Mann: Co-Founder & CTO – Rotageek, Yume Food: CEO of Katy Barfield and Simon Murphy: Founder & CEO – RefLIVE. All these entrepreneurs found that the model of chain linked is most appropriate for their organic food industry [14]. The reason behind the considering the Chain-linked models as the most appropriate one are as follow: -

• This model is an attempt that helps the company in describing the complexities in the process of innovation. In the organic industry, it is must for the entrepreneur's to reduce the complexity for which they need to identify the same. This model is effective in describing the complexity [21].

• The model contributes to identifying the needs of an unfilled market need which is must for the organic food industry because this leads to the further actions of the company. According to the market needs the production will be undertaken by the entrepreneur’s so that they can meet the needs [6].

• The model helps the research and design with this it redesign and produce, them conduct marketing with the complex feedback loops among all the stages [24].

Describe the industry sector you have selected and why this model is relevant/important

The industry sector that I have in mind is organic food. This idea came in my mind as consequences of developing the organic food delivery services that have transformed the culture and standard of living of people. The traditional method of performing the business would not be effective in this health-conscious era [5]. The health concerning era demands for natural products that creates the need for changing the technologies. The other motivation for organic food delivery is the philosophy of lean. There is a high amount of junk food is consumed by the people that have no quality and also creates the health issues. In this way, organic food delivery app enables me to provide the natural products to customers with high quality [23]. Although, it is costly for both the company and customers but, it provides the quality to customers and increases the goodwill of the company.

Organic food delivery requires and considers the use of natural products. As an entrepreneur, I wish to implement the proficiencies for providing backing to business and competitive market through the internet. I also wish to aid in developing the software for delivering the organic food on the bench of the kitchen of the customers. I have high experience in application programming, information technology, and marketing. My capability to predict the detail of difficult things could enable me to avoid the challenges of developing the sales and marketing.

Junk food is used by most of the business [2]. Although, it has highly affected the health of people, I find organic food as a key innovation. Organic food demonstrates the products that are naturally grown and ensures the high quality. Without organic food, quality in products cannot be provided. Inspired by this, I feel that the natural product is effective for avoiding the health issues. Organic food is an emerging business hence, there are very few competitors. This innovation may lead to me to attract the potential customers by meeting their needs. A good example of delivering the organic food is Chain-linked model. The corporation sells different kinds of products to their customers via the internet [1]. But, organic foods are made by the individual corporations. My vision is to launch the quality products that can avoid the obesity issues of people.

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