Innovation refers to creativity, it is evolving and should be embedded in the day-to-day activities of a business.
The case study on implementing innovation draws attention to its effectiveness on the business and the added value to the organization.
The era of technological advancement has brought into the limelight the need to constantly research, review and update existing structures to align with the trends and spheres of the business.
1. Case Study – Implementing Innovation
Global Business
July 31, 2022
2. The world is evolving, markets are emerging with businesses thriving across the globe, and the world is fast becoming a global village where technological advancements and
innovations are the order of the day dictating the pace to follow.
Innovation and or Innovative skills, therefore, is the process of reflective thinking outside the box, doing the unusual, and improving on an existing system’s extraordinary skills and
expertise.
From the Entrepreneur India’s Articles, innovation involves the process of relating the prevailing and or ingenious measures in solving challenges (Entrepreneur India, 2018)
According to (Ngah et al., 2022) “The presence of innovative intelligence in SMEs helps to be innovative”
Based on the foregoing, the importance of innovation in the global workforce cannot be overemphasized, it helps in various ways some of which are; (1) It assists enterprises to stun
hurdles and attain sustainable development (2) It improves productivity and effectiveness of entrepreneurs (3) Spark the entrepreneurial spirit (4) Opens up new markets (5) Meets new
needs of the market (6) Generates high-quality goods and services that meet the anticipations of customers (7) Quicken the revolution of growth drive (8) Stimulates dynamic
improvement of new expertise, businesses and designs amongst others. (ProQuest, 2022)
The above can be buttressed with the results achieved by some organizations that have thrived in their business over the years., some of these organizations to mention a few are:
- Kyoto University Innovation Capital Co, Ltd: The company carries out designing products and services and commercialize ideas using various approaches, these approaches are
innovations targeted at solving problems being faced by the organization. (ProQuest, 2022b)
- Walmart: This organization is ranked the 13th on the top list of innovative companies by Visual Capitalist, it puts significant efforts into e-commerce and omnichannel offerings (Ang,
2020)
3. In order for the coffee shop business to thrive in the three locations in Jos city of Plateau state in Nigeria, the following are the innovative strategies recommended;
Adoption of centralized material mix and production unit: The coffee shop can maintain a centralized unit for the production and mixture of materials used for the preparation of
the coffee and decentralized or supplied to other coffee outlets,
Automation of business activities and services: The use of technological advancement and applying it to the coffee business is actually fundamental, the development of an
application which could be in form of a Bespoke application will enhance the business’s day-to-day transaction. The app will be situated and encrypted on tabs placed on each of the
tables for customers to input and initiate their orders with corresponding payment of bills through card swipes, the orders afterwards will be sent in a few seconds to the general
database of the attendant, the attendant after receiving the orders quickly serve the customers and the process is completed in less than 7 minutes, all things being equal.
The use of drones for inventory management: The use of drones is practicably an added advantage to facilitate the inventory management system of the organization and is used for
the deliveries of stocks and other raw materials needed on a daily basis for the coffee business. Drones are handy tools of innovation that makes transactions easy to be carried out.
The use of a robust supply chain management system: A robust transportation system will be put in place to move raw materials and stock from one shop location to another on a
daily basis as the need arises, hence the use of customized motorcycles and vans will be used for this purposes and this will help to fast-track supplies and meet up with the prompt
replenishment of stock.
Provision of Automated feedback mechanism: An Automated feedback mechanism approach is put in place to hear out the views and responses from customers. This is in a bid to
serve customers better and to access the extent to which the business has added value to the society and met with their stated objectives
4. The new face of the business is showcased with the aforementioned recommended innovative strategies, however, the effect of these new innovations will help propel the coffee shop into
the future in the following ways:
1. It will foster the same quality, and enhance the great taste
2. The goodwill of the venture is retained
3. Stocks are supplied and delivered timely and easily replenished
4. Customers waiting time for being attended to is drastically minimized
5. Customers satisfaction is optimized and guaranteed
6. Leads to an improved system of operations
7. Increases the profit of the business
8. It gives room to get feedback from the customers
9. It gives the opportunity for the business to measure its successes and failures and how to quickly improve on their weaknesses
10. It widens the scope of the sustainability of the business
5. References
Ang, C. (2020, July 17). Ranked: The 50 Most Innovative Companies. Visual Capitalist; Carmen Ang. https://www.visualcapitalist.com/top-50-most-innovative-companies-2020/
Entrepreneur India. (2018). Why innovation and entrepreneurship go hand in hand. Why Innovation and Entrepreneurship Go Hand in Hand, 313753(313753). Entrepreneur Media Inc.
https://www.entrepreneur.com/article/313753
Ngah, Rohana, Azman, Aizar, N., Khalique, & Muhammad. (2022). The impact of innovation, organizational, technological, capital on innovation performance of SMEs: The mediating
effect of innovative intelligence. Login.microsoftonline.com; Universiti Malaysia Sarawak. https://fl31gkh30-mp02-y-https-www-proquest-
com.proxy.lirn.net/eastsouthasia/docview/2652911746/abstract
ProQuest. (2022a). Effect of innovation orientation of high-tech SMEs “small and mid-sized enterprises in China” on innovation performance. Www.proquest.com; Tong, Tong;
Azmawani Abd Rahman. https://www.proquest.com/eastsouthasia/docview/2694065975/A42F80902E3C4D92PQ/2?accountid=194676
ProQuest. (2022b). Kyoto University Innovation Capital Co Ltd. In ProQuest (p. 36). Global Data Plc. https://fl31gkjbm-mp02-y-https-www-proquest-
com.proxy.lirn.net/abitrade/docview/2579061574/abstract