Emerging Technologies and Innovation Process Innovation

Question: Discuss about the Emerging Technologies and Innovation for Process Innovation. Answer: Introduction It is evident that technology in the current era of business plays significant role, which facilitates the ways of building a business effectively. The marketers understand the requirements for an innovative society, which includes a competence base (Lee, Trimi Kim, 2013). Thus, the entrepreneurs tend to take the risks and enhance new activities as well as the rules that sustain innovation. As a consequence of the increasing development of technology and its fast implementation in the economy as well as business process have become transformation of industrial society. In addition, it has also been identified that technology plays crucial role in business networking practices. On the contrary, it is also evident that marketers are in the rush of adopting innovation in the business process. Hence, the innovation means the technique of generating new business ideas, evaluating the generated ideas, and implementing the ideas. As mentioned by Davenport (2013), the innovation is required to address the global challenges such as climate change and sustainable development. However, it is the implementation of the advances in technology along with the entrepreneurship partnership as well as innovative approaches to the formulation and delivery of products and services, which usually translate scientific and technological advancement into more productive economic activity (HashiStojÄ iĆ¡ 2013). This positively influences the economicgrowth, if the structure of the market and the regulatory environment enable activities to expand. Thus, it can be mentioned that both technology and innovation plays the crucial role in developing the business and facilitating the ways of business. However, it is important to implement and adopt technology and the process of innovation. There have been cases, where the organizations failed to apply the process of innovation and take the advantage of technology. As with all other businessprocess innovation needs to be linked to the strategy as well as the business planning techniques. In addition, innovation separates from the business process could increase the risk of delivering the major resources and affect the focus of the organization. Therefore, the activities associated with the business activities should be driven by the strategies as well as the current business imperatives (Hemmelskamp,Rennings Leone, 2013). The present business environment indicates that organizations are dealing with rapidly changing market conditions. In order to remain the global competition, the organizations need to think of innovative ways along with the development of technologies. The current research focuses on some particular factors associated with innovation and technology positively influence the business. In addition, the report also discusses the challenges that are faced by the marketers to implement the innovative process and technology in the business process.However, many issues associated with innovation and technology could largely damage the business The aim of the research is to find out significance of technology and the innovation in business and the issues associated with innovation and technology affecting the business. The objective of the reportis to focus on the factors associated with innovation and technology that largely influence the business process. In addition, the report also focuses on the importance of innovation and technology in business and techniques based on which the organizations gain benefits through innovation and technology. Materials and methods The articles on innovation and emerging technologies discussed in the following have only used the secondary information. Thus, the outcomes found in the articles are quite similar to the existing literature. However, the best way to find out the issues associated with innovation, technology, and the factors influencing the business is to conduct a primary research on current market situations. As a result outcome would be more relevant realistic. In order to conduct the research certain methods have been followed that are discussed in the following: Step 1: Finding the sources of secondary data such as journals, articles, books and websites and other secondary sources that provide an adequate amount of data on innovation and technologies and their applications in business Step 2: Reviewing the journals and articles, this helps to understand the areas that are stressed by the scholars in terms of innovation and technology. Thereafter, the research goes forward with critical discussion that are performed by the scholars. Step 3: After reviewing the discussion and outcome of the researches, the report focuses on the primary data considering the current scenario of the organizations that have implemented the technology and the process of innovation to enhance the growth of the business. Likewise, the report carries forward with finding out the future challenges and potential issues of technologies and innovation. Expected outcome By conducting the research, certain factors associated with the innovation and technology can be understood. It is evident that most of the organizations effectively benefit from the innovation and adoption of advanced technology. Many studies have been conducted to address the challenge and influential factors of business with innovation and technology. However, it is necessary to find out how innovation with developed technology influences the business and leading it towards the desired direction. Thus, the outcome of current research may emerge with the relevant process of innovation, and technology and its positive impact on the business. Timeline Week Task 1 Acquired some knowledge about the execution of the research such as how to read the papers, journals and articles 2 Collected the secondary sources such as books, journals and articles regarding the topic 3 Researched the topic and its significance to study 4 Focused on the relevant methodology that facilitate the research techniques 5 Selecting the appropriate bibliography from the vast collection related to the topic 6 Collected data about innovation and technologies from the internet 7 Again focused on the recent journal to find the application in innovation and technology in the organizations 8 Gathered some primary data 9 Started writing the introduction of the research focusing on the topic 10 Conducted the analysis of the selected journals 11 Observed the outcome for the research 12 Identified the future scope of the research Table 1: Research Timeline Task : Annotated Bibliography Technological Innovation and Its Impact on Business Model, Organization and Corporate Culture IBMs Transformation into a Globally Integrated, Service-Oriented Enterprise-Martin Jetter The article focuses on the influences of information as well as the communication technology on business transformation. The authors of the paper have stated that innovation and communication technology are driving globalization as well as the change of value creation towards the services. These are challenging the organizations to adapt to their business model to remain competitive in the industry. The article indicates that in the present years the speed of innovation has increased gradually. The article also claims that innovation in Information and communication Technology tends to call for complementary, which means in some cases, the organization need to implement innovative business model to ensure that organization remain successfully competitive in the market. Some of the large organizations like IBM have adopted the advanced business model in conjunction with the technology and innovation to deal with increasing challenge and issues in the dynamic business environment. As a result, the organizations have experienced the business growth within a short time. Innovation certainly facilitated the ways of developing the business. The sources if innovations are many as well as varied; however, they should be collated and managed as the core source of the significant information as well as fundamental to the future of innovation business. The outcome of the research indicates that a successful innovative culture could embrace each aspect of the business; thus, itneeds to be managed effectively as any other fundamental business process. Inbound Open Innovation Activities in High-Tech SMEs: The Impact on Innovation Performancejsbm_354 28- VinitParida, Mats Westerberg, and Johan Frishammar The previous research focuses on the innovative activities positively influence the innovation result in large organizations. However, some researchers have examined that the implications of small and medium sized organizations adoptions of open innovation. This article focuses on this particular research gap by examining the influence of four inbound open innovative activities on innovation performance of the small and large organizations. In order to perform the research, the authors have considered 252 SMEs. The outcome of the research indicates that multiple type of open innovation activities is profitable for different innovation outcome. In addition, findings of the research provide different theoretical as well as the practical implication. The author have also stated that several small as well as medium size organizations tend to rely on their ability to be innovative for gaining as well as sustaining competitive advantages. However, the overall success rate of innovation efforts tend to be lower than the expectation. This happens due to the increasing level of risk, complexity, as well as uncertainty existing in the innovative process.In addition, the outcome of the research indicatesinnovative development could be challenging for small and medium size organizations, as they are theme to the liability of smallness. This means SMEs usually have limited financial backup. These organizations tend to use less structured approach to innovation. The authors have mentioned that the above-mentioned potential factors could restrict their ability to innovate as well as achieve competitiveness. On the contrary, recent studies have identifieddifferent potential benefits of implementing the process of innovation. In the existing l iterature, this is considered as the shift from the traditional innovation model with a major focus on research and development towards an open innovative approach. On the contrary, if the small and medium organizations gain the ability to implement open innovation by collaborating with the network partners, they could compensate for deficiency for internal resources as well as competencies. Business Models and Technological Innovation-Charles Baden-Fuller and Stefan Haefliger The authors of the paper have mentioned that business model is potentially related to the technological innovation; however, the formulation of the business model is necessarily separable from the technology. The authors have defined the business model as a system that could help the resolve the issues of identifying who are the potential customers engaging with their requirements, delivering the satisfaction as well as the modernizing the value. In addition, the framework defines the business model system as the model that contains the cause and effect relationship. It also provides the basis for classification. The research is performed on formulating the business model relationship with technology in a two-way manner. By reviewing the business model, a link between the adoptions of the technology the performance of the organizationhas been identified. On the contrary, the second manner indicates that enhancing the right technology is considered as the matter of a business model de cision making about the openness as well as customer engagement. The authors of the paper have formulated the research questions considering both technology management and the approaches of innovation. While relating the business model with the process of technological innovation, the authors have focused on certain element of the model such as customers, customer engagement, value delivery and the linkage, modernization. While addressing the customer recognition dimension of the business model, major attention was paid to technological possibilities. It is necessary, that the business model recognizes the customers and the users and imply actual consumption of the products and services. The analysis and discussion performed in the paper indicate the choice of the business model that influences the way in which technology is modernized as well as the profitability for the organization. The authors have also noted that the business model framework, marketers and the developers consider determine the way based on which is the technology is developed. The outcome of the research also indicate that technology from other sector such as information technology the way based on which an organization or the business model could be formulated as well as adopted. The Effects of Strategic Orientations on Technology- and Market-Based Breakthrough Innovations-Kevin Zheng Zhou, Chi Kin (Bennett) Yim, David K. Tse The authors of the paper have paid theattention to certain aspects such as whether market orientation does impede breakthrough innovation. In order to discuss the issues, the researchers have established arguments in respect to this particular aspect. To deal with this particular controversy, the researchers of the paper have conceptualized as well as investigated the model that relates different types of the strategic orientation and market forces through organizational knowledge to development innovations and organizational performance. The outcome of experimentation demonstrates that a market orientation could facilitate innovation that adopts advanced technology and large amount of benefits to the potential customers. The outcome of the research also indicates that a market orientation could hinder innovations that focus on the emerging market segments such as innovation based on the market. On the contrary, echnology orientation is useful to the innovation that is based on the t echnology; however, it has no influence on the market-based on innovation. However, the in the discussion, the researchers have mentioned that an entrepreneurial orientation facilitates both type of innovation. In addition, different market forces such as demand uncertainty, technology, and competitive intensity use substantial influences on technology as well as market-based innovation. The outcome of the research paper hassignificant implications for organizational strategies to facilitate product the innovation and gain competitive strategies. Reference list: Baden-Fuller, C., Haefliger, S. (2013). Business models and technological innovation.Long range planning,46(6), 419-426. Davenport, T. H. (2013). Process innovation: reengineering work through information technology. Harvard Business Press. Hashi, I., StojÄ iĆ¡, N. (2013).The impact of innovation activities on firm performance using a multi-stage model: Evidence from the Community Innovation Survey 4. Research Policy, 42(2), 353-366. Hemmelskamp, J., Rennings, K., Leone, F. (Eds.). (2013). Innovation-oriented environmental regulation: theoretical approaches and empirical analysis (Vol. 10). Springer Science Business Media. Jetter, M., Satzger, G., Neus, A. (2009). Technological innovation and its impact on business model, organization and corporate cultureIBMs transformation into a globally integrated, service-oriented enterprise.Business Information Systems Engineering,1(1), 37-45. Lee, S. G., Trimi, S., Kim, C. (2013).The impact of cultural differences on technology adoption. Journal of World Business, 48(1), 20-29. Parida, Vinit, Mats Westerberg, and Johan Frishammar. "Inbound open innovation activities in highà ¢Ã¢â€š ¬Ã‚ tech SMEs: the impact on innovation performance."Journal of Small Business Management50, no. 2 (2012): 283-309. Zhou, K. Z., Yim, C. K., Tse, D. K. (2005). The effects of strategic orientations on technology-and market-based breakthrough innovations.Journal of marketing,69(2), 42-60.