Discussion 1:
Discussing the conditions that are necessary for successful innovation:
We have three different conditions for making successful innovation. They are 1) Motivation, 2) Support, 3) Direction [McKeen & Smith (2015)].
1. Motivation: It encourages the people by establishing various rewards for innovation. Many people in the organization work hard for the best outputs. By the pressures of the team leaders or higher authority people, they tend to demotivate and get discouraged. They cannot work for creating new innovations by the extra pressures. So, the organization should create a new innovative idea by giving rewards and extra incentives for all the employees who work hard in resolving the risks. This can boost up the confidence levels of the employees and result in great outputs [Johnston (2017)]. Every organization can have different types of rewards given for their employees. Some of them may give rewards like tickets, books, executive citations and recognition days, etc. Some may give the opportunity to play and work with upcoming new technologies.
2. Support: This should create support by creating an effective infrastructure for which it can sustain the innovation. As the motivation phase can encourage the employee for creating the innovation, they should also start providing support for the innovation. Not only the motivation, but also support helps in creating efficient innovation. Here, we have two different strategies followed in supporting the innovation. They are stated as follows:
· Insulate: This strategy helps all the organizations to create the innovation centers. These are the centers that act as the one-stop destination for all the common problems.
· Incubate: This strategy helps to keep all the centers within specific lines of business (LOBs) [McKeen & Smith (2015)].
The centers that are established will support all the innovations. Supporting the innovation may involve some tasks like providing the access for all the organizations that deal with them, they should provide the effective infrastructure, the social interaction with other organizations, various functions that can support for development of any particular organization [Minshall, Stefan, Mortara (2014)].
3. Direction: It should manage all the innovations that are created with different strategies. Successful innovations always have a great impact [JD (2009)]. Learning is the most important task to do in any organization. Learning all the new strategical ways to present an innovation leads to best results. We have three different ways of strategical learning that employees in every organization should follow. They are as follows:
· Always we need to link the innovation to the customer value for having a better and clear result. This approach can easily focus on the customer pain points (CPPs) [McKeen & Smith (2015)]. The identification of these pain points gives us many potential solutions.
· Always we should link all the experimentation.
Discussion 1Discussing the conditions that are necessary for su.docx
1. Discussion 1:
Discussing the conditions that are necessary for successful
innovation:
We have three different conditions for making successful
innovation. They are 1) Motivation, 2) Support, 3) Direction
[McKeen & Smith (2015)].
1. Motivation: It encourages the people by establishing
various rewards for innovation. Many people in the organization
work hard for the best outputs. By the pressures of the team
leaders or higher authority people, they tend to demotivate and
get discouraged. They cannot work for creating new innovations
by the extra pressures. So, the organization should create a new
innovative idea by giving rewards and extra incentives for all
the employees who work hard in resolving the risks. This can
boost up the confidence levels of the employees and result in
great outputs [Johnston (2017)]. Every organization can have
different types of rewards given for their employees. Some of
them may give rewards like tickets, books, executive citations
and recognition days, etc. Some may give the opportunity to
play and work with upcoming new technologies.
2. Support: This should create support by creating an
effective infrastructure for which it can sustain the innovation.
As the motivation phase can encourage the employee for
creating the innovation, they should also start providing support
for the innovation. Not only the motivation, but also support
helps in creating efficient innovation. Here, we have two
different strategies followed in supporting the innovation. They
are stated as follows:
· Insulate: This strategy helps all the organizations to create the
innovation centers. These are the centers that act as the one-stop
destination for all the common problems.
· Incubate: This strategy helps to keep all the centers within
specific lines of business (LOBs) [McKeen & Smith (2015)].
The centers that are established will support all the innovations.
2. Supporting the innovation may involve some tasks like
providing the access for all the organizations that deal with
them, they should provide the effective infrastructure, the social
interaction with other organizations, various functions that can
support for development of any particular organization
[Minshall, Stefan, Mortara (2014)].
3. Direction: It should manage all the innovations that are
created with different strategies. Successful innovations always
have a great impact [JD (2009)]. Learning is the most important
task to do in any organization. Learning all the new strategical
ways to present an innovation leads to best results. We have
three different ways of strategical learning that employees in
every organization should follow. They are as follows:
· Always we need to link the innovation to the customer value
for having a better and clear result. This approach can easily
focus on the customer pain points (CPPs) [McKeen & Smith
(2015)]. The identification of these pain points gives us many
potential solutions.
· Always we should link all the experimentation with the
existing business core processes.
· Always we need to use the venture funds for guiding the
strategic initiatives. This is one form of providing support for
the innovation. By using the venture funds, we can do a series
of tasks like focusing on new business models, opportunities,
and new markets, explore new technologies and make use of
them in new innovations, decision making [McKeen & Smith
(2015)]
Discussion 2:
Conditions for successful innovation
Innovation is dependent on information Technology and the
relevance of the Information Technology industry is pegged on
innovation. For innovation to happen several factors must be
looked into. Brainstorming is a major condition for successful
innovation. It entails generation of various ideas from different
individuals (Burdon, 2016). This creates a pool of unique ideas
3. which if incorporated with Information Technology leads to
innovation. Definition of search fields is another factor. This
entails technological trends that an organisation wants to
innovate. Market analyses play the largest role in definition of
search fields (Donate & de Pablo 2015). Market analysis
involves learning what other organisations are doing in terms of
information technology and then coming up with an innovation
to beat the other organisation or be at par with the organisation.
Availability of the necessary information technology
infrastructure is a major condition. This involves machines,
access to the internet for further study on existing innovations
and the tools required to actualise an innovation. Collaboration
and coordination of the members of an organisation is another
factor (Ikeda, 2016). This is essential since it will motivate
employees to actively participate in innovation contests. These
contests promote generation of ideas that if harnessed become
the greatest innovations in their respective fields. These among
many other factors promote innovation.
Discussion 3:
Strategic opportunities to innovation with Big Data
Apart from increasing business value with data, it is often
looked by business for help with innovation with data. It is
important to identify the information that is external to the
organization from different sources like social media and
websites. Exploring of sources from where the company could
find the external data is vital to leverage the already available
data such as internal and social media related. Following are
some of the strategic opportunities for innovation with big data:
1. Data Generation: This is done from an unstructured data in
case of addresses, phone numbers and people and is used for
innovating new products. Other popular king of data generation
4. is by social listening. This can answer various questions like the
reason for product declining which was good before, the best
price for particular product, reason for declining customer
number, most popular services or products (Engelen, 2019).
2. Aggregation: Through this, organizations can perceive what
individuals are keen on and correctly segregate and target
people that will be destined to cooperate with their image. This
can possibly spare an organization thousands and even a huge
number of dollars in misused resources. For customers, this
implies just seeing services that are designed for their interests,
wiping out the dissatisfaction of overexposure to irrelevant
items or administrations. This aggregation can provide more
performance benefits, enhancement of reporting and analysis
capabilities. Furthermore, we need to study on how to select the
effective and appropriate aggregation strategy (Ghiossi, 2015).
3. Efficiency: An organization can make use of big data streams
for streamlining the efficiency such as waste reduction as it
causes slowdowns, lowers the satisfaction levels of clients and
consumes money. In addition, big data streams now-a-days are
used to discover the old hidden issues and unknown correlations
thereby serving as competitive advantage for the companies
(Data, 2017).
4. Analytics: This helps to make smarter decisions and make
the best out of resources by analyzing and synthesizing the data
from many external and internal sources into intelligence. It
then transforms the data into actionable events and insights.
These analytics respond to the problems raised before they turn
into major issues, hence becoming the key basis for innovation
and success (Engelen, 2019).
Discussion 4:
Strategic opportunities to innovation with Big Data
Data is a very important asset of an organization. Valuable
information can be generated from a bulk amount of data
processed by the system. Besides developing business process
IT can generate business value by processing data. So many
5. companies are already taking business advantages from internal
and social media data. Data is always valuable doesn’t matter
what is the source of it. To innovate business the first step is
flowing some quires.
1. Data related to business and products has been shared by
people.
2. Streams data inventory of ecosystem and surrounding
3. Data produced by the system and its value outside of the
organization
4. Number of organizational systems that can easily architected
for real time data
5. Monitoring the digital asset value changes
Result of the above queries will lead to develop new strategic
opportunities for organizations with external data which
contains the following:
Data Generation: There are many systems generate public data.
Some organization sell their system generated data. Based on
these data there are organizations who determines public needs
and produce new products or services. For example, based on
the local public events accommodation service can be
introduced for a short time.
Aggregation: There are some companies who collect data from
external sources and process them to generate business data for
companies and potential uses. These data platform allows to
access processed external business data. There are applications
that collect weather data from government and make visible to
public.
Service: To create new service for consumers or updating
existing service based on data. For example, by calculating
cellphone live signals it would easy to count determine a
crowded place. Or based on real-time date map application can
suggest different route to reach destination.
Efficiency: Optimizing internal operations could be a good
outcome of effective use of data stream. For example, by
analyzing customer data restaurant can optimized their food
preparation and type of the preparation process, which can
6. increase the number of customers served and their satisfaction.
Analytics: Organization data can be used in developing top
management understanding and knowledge. From previous
financial transaction records, it will be easy to figure out the
outline of upcoming year budget. It is easy to determine
company growth by looking into company accounts records.