Sample BST904 Creativity Innovation and Enterprise Assignment

BST904 Creativity, Innovation and Enterprise Assignment Sample

Responsible Innovation Advice for a Growing SME

Individual task (50% of overall module grade)

Submission Details

Submit a copy via the Learning Central module link. The deadline for submission is 11.00 (UK time) time) on 23/03/2022. Your report should be 2000 words [+/- 10%] in length.

Suggested Format and Style

I would suggest writing the report in the style of an independent consultant providing outside advice to the company. The structure below is a suggested guide to your report, rather than a strict rule.

• Cover Page [Not included in word count]. This should include a title of the report, your student number (but not your name), the module code and title, and the total number of words.

• Executive Summary [Not included in word count]. A very short summary of the report.

• Introduction. What is your report about? Why are you writing it? Aims? How will you achieve this aim? Structure of report?

• Main Body. This should be the most substantive section of the report, and should address the assignment brief here. You may split this section into your own subsections, but suggested areas to cover are as below:

• Conclusion. This usually provides a summary of the main findings of the report and revisits any aims you set out in the introduction.

• Reference list [not included in word count]. The literature should be correctly referenced using the Cardiff-Harvard style

Your Assignment

Read through the Case Study Brief accompanying this document. In response to the case situation, provide a report to the new senior team with an evaluation of how a responsible innovation approach could be adopted and embedded in the growing organisation

BST904 MBA CASE STUDY DOCUMENT FOR THE INDIVIDUAL ASSIGNMENT

A new responsible innovation agenda

IDCo is a small to medium sized company in Cardiff, employing approximately 150 people. The company have grown based on their main area of activity, creating digital identity solutions. Such solutions allow online users to prove who they are. The main company product is an app that uses a combination of personal details, biometric information, formal identity numbers and documents. This helps individuals to prove their identity and details with their smartphone.

Founded in 2012, they have grown quickly over the last decade, and are now looking to expand across the UK and Europe. The company started out via their website, and quickly moved into app development as smartphones became widespread. The core product allows users to verify their details (such as age, identity) via signatures and authentication. The company has a strong technical development capability and has worked hard to understand the regulatory and legal implication of its products. It has been successful at integrating new emerging technologies (e.g. face recognition) into its offering, and making updates and minor upgrades to its core provision.

The founder was heavily involved in the original idea, concept and development, having a technical background prior to founding the company. Recently, a new senior management team was formed after the original owner moved on, and the business expands. The company has experienced some ‘growing pains’ as it expands and recruits new members, and forms new teams. The new management team are reflecting on a refresh for the strategy and priorities.

They are intensely aware of the challenges of working with personal data. Issues of data privacy, consumer rights, security, possible illegal activity and risk of criminal misuse are pertinent. The new senior management team have noted increasing interest in notions of ‘responsible innovation’, and the positive benefits, and potential for more responsible ways of working that this could bring. They would like to have a positive impact on society, and understand the importance of gaining trust.

Despite the success of the core product, the new management team consider that the world is changing so rapidly that the company needs to think in a more structured way about new products and services, and the management of its pipeline of innovations. It is also worried about larger tech companies competing in its markets.

Building on its core expertise, the company is considering how it may offer more specific provision and customised offerings for organisations and corporate clients, which may involve customised solutions in different industry sectors. However, the new team are also concerned that there is no structured path to breakthrough or next generation solutions, as well as approaches to ensure research and development is responsible and responsive to social needs. New technologies are also emerging, for example in the area of face recognition, but such approaches need careful management.

Following the above changes and situation, the team would like to appoint an independent consultant to help facilitate the discussion and provide fresh thinking and insight around its approach to responsible innovation and new product development.

Solution

Introduction

In today’s technological and digital era companies are highly focusing on implementing advance technology within firm. They are emphasizing on innovation and R&D to develop new products and services (Cardoso de Sousa and Monteiro, 2012). There are various types of innovation which can be done. But it requires an approach to adopt within company. If approach is not adopted, then it impacts on operations and on growth. The use of approach depends on type of innovation for assignment help.

These reports will emphasis on how innovation approach can be adopted by IDCo. The aim of report is to evaluate various innovation approaches that can be applied. The aim will be achieved by analysing case study and explaining how approach is executed. The structure consists of introduction, main body and conclusion.

Main body

It has been analysed from case study that IDCo is SME that was founded in 2012 in Cardiff. It provides digital identity services. There are total 150 staff working. They want to expand to UK and Europe. The company have developed an App which verifies people Id, signature, age.

The adoption of innovation approach also depends on capabilities of company. It is because if there is no proper process, structure within firm then it highly effect on innovation. This may lead to disruption as well. But it depends on IDCo that which innovation they adopt (Cook, 2016). In case study it is analysed that firm is growing rapidly. The management is now focusing on developing new product or service. They want to do customization in products. It is because of emergence of new technology. Now with new technology they are trying to develop new services. However, there is no systematic approach through which innovation can be done. Thus, it is a challenge for them to develop new product in systematic way. So, without relevant approach it is difficult to apply innovation.

Innovation and R&D are core competencies for an organisation. It is because it enables in developing new products and services. Also, with help of it they are able to grow and develop. Moreover, innovation brings in drastic changes in various areas within an organisation. It can be either in structure, process, operations, culture and other areas. But there is need to apply an innovation approach in order to implement innovation. This is because approach provides an overview of what steps needs to be taken, how innovation is to be adopted, what strategy or plan to be used and several other things (Fadaee and Abd Alzahrh, 2014).

Responsible research innovation (RRI)- In order to adopt innovation there is need of a relevant framework by firm. Thus, the solution for this is that company can adopt responsible research innovation. RRI refers to engage people in research process to integrate goals of research with society needs. This is important because it helps in solving challenges which occurs in society. RRI is continuous process where research is done to generate social value. Therefore, company can work with various factors such as government, society, policy makers, to do research and then adopt innovation. It will be useful for them to align process as well as outcomes. There will be institutional change occur as well (Stojcic and Orlic, 2018). By that it will be easy to adopt RRI within firm. Generally, small firms use RRI to improve science and society. Hence, this innovation will help in fulfilling society needs. Also, they can make changes in App to integrate technology like facial recognition, voice senses, fingerprint. There is also a framework which can be used in RRI. It is mentioned as below :

AREA- It is framework which focuses on 4 elements to ensure that innovation is adopted in effective way. Also, there is continuous research which is done to integrate process with society needs.

Anticipate- This means to identify society needs and then make changes in process for innovation.

Reflect – There is reflection done on society needs by to ensure that innovation of product or service will help to fulfil it.

Engage – In this innovation is being engaged with people and in process. It is done to solve challenge which occurs in society.

Act – It means to act on innovation which is done and generate value from it.

The best practice that can be followed in RRI is increase value and reduce waste. In this research can be done on how to adopt new technology with high security. The RRI process requirement’s such as openness, transparency, diversity can be adopted as well.

So, continuous innovation can be done to adopt RRI. In addition to it, if there occurs any challenge of security or privacy of info in society then IDCo can make change in App (Dimnwobi and Mgbemena, 2016). It will help in generating value and storing of info and authentication of it. With of RRI the trends in society can be eliminated. The organisation can align process of innovation with app authentication. In this way society needs are fulfilled. Thus, IDCo can use RRI to adopt innovation.

Therefore, IDCo can adopt the approach of RRI. In that they make changes in their App. Alongside, the entire business process will change. Besides that, all other technologies can be integrated into it. company can work with various factors such as government, society, policy makers, to do research and then adopt innovation. It will be useful for them to align process as well as outcomes. Besides that, RRI will result in change in process, procedure. Thus, a complete new plan is developed in which innovation is implemented in systematic way. Also, this approach will act as framework for innovation (Hughes and et al. 2018). The best practices that can be followed in RRI is increase value and reduce waste.

But it is argued that this approach is not suitable for IDCo. It is because change in business model can result in various disruptions within firm operations. They might have to modify process of business. The shift to cloud computing may lead to privacy or security issues. There can also be technical issues arising in it. Nonetheless, this approach is used by large firms. They change their business model to adopt innovation. So, as this firm is SME the approach is not suitable for them. In this they may have to change concept of App working. The core provision of app can be changed. So, making any upgrade in business model will directly effect on app process. The management could not be able to take effective decisions (Forgeard and Kaufman, 2016).

On other hand, it is found from case study that there are many challenges in adoption of innovation in technology. They are privacy issue, security, legal implication, misuse of personal data. Hence, use of business model approach can result in rise of these issues. It will impact on growth of business. Also, solutions which are customized might not be useful for clients or corporates. However, if this approach can be applied for now and innovation is executed in effective way. But in future there can arise certain issues like legal implications, business model failure and other.

Ethical issues - Also, IDCo can face certain ethical issues as well with upgrade. They are as below:

Privacy issue- This is most common issue which can be faced by company. In this there might be leakage of info and confidential data of people. This issue can occur due to technical error or hacking of database.

Misuse of data- it is also an issue that can occur in technology update. The data and info of people can be misused by third party or any other person. The misuse of data may result in illegal or unethical activities. Apart from it, firm might not be able to handle or manage data in effective way due to which it can get misused.
Security issue- it is also an issue which can be faced by organization. Due to technology upgrade the data might not be secured properly. Thus, it can lead to data leakage. In addition, this issue can result in misuse of data as well.

The technology can affect society in negative way. There be fake personal data created that can be used in negative way. Also, people confidential data can be copied easily. Along with it, data authentication error can result in misuse of data. The people can use it for illegal activity. Hence, it can result in rise in crimes. Besides that, it will effect in negative way as anyone will be able to access data easily. In this way technology will affect in negative way.

It is expected that new technologies will emerge in the future. It is critiqued that innovation has to be embedded in effective way in firm. This is because the growth entirely depends on how well new product or service is being developed. However, the challenges of innovation have to be identified. In technology innovation is quick (Kwan and et al. 2018). This is because advance technologies are useful in increasing efficiency. Hence, in this way overall business model can shift to cloud computing.

Along with approach, it is required for organisation to form and execute an innovation strategy as well. It is a plan which describes to create new value. Thus, customers also wish to pay for that new value in product or service. There are different types of strategies available that are active, proactive, passive and reactive. Also, 4 types of innovations are discussed as below :

Incremental – It is type of innovation in which company uses its current technology, resources to innovate new product or service. This is done to increase product value in current market. It allows firms to engage in various process by which they are able to add value in service.

Disruptive innovation- In this innovation there is new technology or process executed within company and in same industry. The new technology can be costly or cheap. But it has more features and specifications, design. In this example of Apple can be taken. The company have developed Iphone that is touch screen. It is disruptive innovation (Khalili, 2016).

Architectural innovation- The innovation in which new technology or skills are applied in different market or industry. It is highly beneficial in attracting new customers easily. Moreover, in this risk is relatively low as compared to all other types of innovation. For example- Use of AI in producing electric cars in automobile sector.

Radical innovation- The innovation in which new industries are emerged. This enables in bringing out new product or services in market. For example- airplane industry was a radical innovation.

So, there are few recommendations which can be used by IDCo to select approach and embed innovation. They are as below:

• They can do analysis of each approach and find best one which fit into business. So, criteria and standards can be used for that.

• The company can monitor progress of innovation by which it is easy for them to embed in effective way. Also, monitoring will allow in making changes accordingly (Edwards-Schachter and et al. 2015).

• The top management should take help of experts and stakeholders in embedding of approach. It will enable in taking effective decision and adopting innovation in proper way.

• The innovation can be embedded in step by step way. For that a proper framework should be developed and then proceeded.

Conclusion

From report it has been concluded that IDCo is a small firm that offers digital identity services. The management want to embed innovation to develop new product or service. So, it requires approach to be used. There are different types of innovation approaches such as continuous process improvement, improving product design, upgrade business model. IDCo can adopt the approach of upgrade business model and shift towards cloud computing. But this is not suitable for IDCo as change in business model can result in various disruptions within firm operations. The 4 types of innovations are incremental, disruptive innovation, architectural innovation and radical innovation.

References