Budget WorksheetDirections Complete the budget worksheet with a.docx
1. Budget Worksheet
Directions: Complete the budget worksheet with an accounting
of the types of costs associated with the implementation of your
health education program. For example, if you are doing field
work, will you require the purchase of a laptop, or of external
data drives to store your data collection? Use realistic monetary
totals for each respective criterion that you will need in the
implementation of your health education program.
Note: Not all line items will be relevant to every health
education program and you are to complete this worksheet with
a maximum budget of $100,000.00 dollars as a cap for your
health education program.
Health Education Program:
Start-Up CostsSubtotal Total Capital Costs
Purchase of Land
acres @ $ /acre
$
Facility Construction
sq. ft. @ $ /sq. ft.
$
Facility Renovation
sq. ft. @ $ /sq. ft.
$
Equipment (capital):
1.
$
11. earlier feedback, come up with a single innovation cycle
representing the best parts from the set of cycles you identified
in the previous step. It should reflect SIC culture and needs.
Like your action plan but some of your stages (funneling and
prototyping) should have been incorporated in the previous
operationalizing step.
Migration plan: Your list of tasks and a schedule is a step in the
right direction. I think you can come up with more change
management strategies that would be effective.
TECHNOLOGY INNOVATION PROJECT 2
I-3 Technology Innovation Project - Draft
Technology Innovation Project
Table of Contents
Introduction 3
Environmental Scanning Report 3
Future Potential Threats 4
Potential Disruptive Technologies 4
Innovation Cycle Matrix 6
Summary of the Characteristics of Innovation Cycles 7
Operationalize Innovation Cycle 8
12. Innovation corporate action plan 8
Migration plan 10
Summary of the timetable for Migration Plan 11
Conclusion 11
References 13
Running head: TECHNOLOGY INNOVATION PROJECT
1
Introduction
Largo Corporation is one of the biggest multinational firms
in the globe that specializes in a wide range of products and
services, including healthcare, retail, finance, and government
services. Its headquarters is situated in Largo, Maryland,
although it has other subsidiaries all over the United States.
The annual revenue of Largo is approximately $ 750 million,
with about 1,000 employees. The organization's mission is to
provide the best products and services to its customers
throughout the world to enable them to realize their full
potential. Largo’s vision and culture act as the foundation of
opportunities for promoting various technological aspects while
maintaining its corporate social responsibility. Recently, the
organization came under new leadership with Tara Johnson as
the present Chief Executive Officer (CEO). There has been a
decline in the company's revenues, which called for
transformational leadership to achieve long-term profits. The
CEO realized the systematic approach of the company that
should build an innovation is still lagging. As the team leader
of innovation, the objective is to establish the processes of
operation that could improve the competitive advantage for
Largo. For that reason, this paper will conduct an environmental
scan on one of Largo’s subsidiaries, in particular, a Suburban
independent Clinic (SIC) to determine the threats and
opportunities of the firm. This piece will also point out the
possible disruptive technologies used by the organization.
13. Further, it will develop an innovation cycle matrix, design an
action plan for the innovation, and evaluate a mitigation plan.
Environmental Scanning Report
Future Potential Threats
One of the future potential threats that are likely to face
Largo's subsidiary is the likelihood of the organization's
healthcare practitioners failing to consider the new technology
aimed at promoting innovation. It is essential for health care
professionals to have an attitude to learning new concepts. Even
though they always have a busy schedule, they need to create
time to learn and implement the latest technology. With the
improvement of technology, especially in clinical care, health
care provision is becoming safe and secure due to limited
errors. Having a limited understanding of the emerging
technologies will pose a threat not only to the patients but also
to the setting. Lack of proper understanding or failure to adopt
the new technologies will reduce the quality of service
provision, which, in turn, lower the organization's revenues.
Another possible threat for Largo’s subsidiary (Suburban
Independent Clinic) is stiff competition from rival organizations
that offer similar products and services. This competition may
cause financial problems due to differences in cost. Competitors
tend to provide products and services at a reduced price to gain
a significant market share. This scenario is likely to occur to the
Suburban Independent Clinic. When it happens, the clinic will
be forced to lower its rates to avoid losing the customers to
competitors. With time, the company's financial performance
will be affected as it will be deemed to record reduced profits.
The increasing healthcare costs can also be associated with
economic conditions, high insurance premiums, and the rise in
pharmaceuticals. These threaten the revenue stream of the
organization as it will be forced to provide quality services at
minimum costs. Potential Disruptive Technologies
The use of robotics is one of the possible disruptive
technologies that Largo's subsidiary is likely to adopt.
Research indicates that robotics transforms the company's
14. operations. Their usage improves accuracy and precision in the
clinical setting, particularly in sensitive activities like the eyes.
According to Fried (2017), high precision surgeries require
expertise, and this increases the population of patients in need
of the services at the facility. An increase in the population of
patients results in a corresponding rise in the organization's
revenue. This type of intervention is applicable in neurological
and cancer treatments that were formerly hard to treat.
Automation is another probable disruptive technology that
Suburban Independent Clinic may adopt. This will involve the
integration of technology into the everyday operation of the
healthcare facility. Currently, the US is developing a handheld
technological instrument that can diagnose at least 13 diseases
and detect the significant signs of the disease (Vaughan, 2017).
When implemented, this type of automation will reduce the
number of employees, thus, cutting other significant costs. The
automation devices will also allow physicians to diagnose
patients without meeting them physically. It will also enable
them to decide the treatment course without requiring patients
in the hospital.
Another potential disruptive technology is internet of
Things (IoT). It refers to a network of internet connected
devices that can connect and exchange data. SIC can fit people,
buildings, cars and household objects with sensors and network
connectivity that will enable them to send and receive data
through the internet. The implication for medical providers
revolves around capture and analysis of data as IoT technology
will enable physicians to access the vital signs of the patients
including body temperature, blood pressure, respiratory rate,
and glucose levels.
Another potential disruptive technology is virtual reality
(VR). It is the application of a computer technology to
establish simulated environment. This technology will provide
Largo customers with an experience of VR reduce pain and
anxiety during surgery. By donning a VR headset, the patient is
given the thought that they are in another environment since
15. they are made to interact with a three-dimension (3D) world.
They simply trigger their preferred music, light a fire or even
beckon a sea monster. These activities make the patient forget
about pain, thus, increasing the efficiency of a medical
procedure.Innovation Cycle Matrix
Innovation refers to the creation, development, and
adoption of a new product or services to increase efficiency and
competitive advantage.
According to (Onetti, Zucchella, Jones, & McDougall-
Covin, 2012), innovation is careful to use imagination to
execute new ideas successfully. Ms. Johnson, the new
company's CEO, believes in innovation as a factor that will
drive the organization into attaining success by increasing
revenue. In business, innovation allows a corporation to achieve
a competitive advantage over its rivals. Through innovation, a
company can attract more customers and expand its market
share. The generic cycle of innovation consists of six stages.
The initial stage is an initiate. It involves the identification
of opportunities. In this stage, the innovator defines the project
scope and outlines the mission as well as the objectives of the
project (Rusyaeva & Saltykov, 2017). The innovator also
brainstorms new ideas by looking for motivations from similar
market players.
The second stage involves the determination of an
operational gap where the innovator diffuses the idea into the
whole organization. This phase is also known as a ‘‘gap’’
because it embodies the challenges that people will experience
while accepting the outcome of innovation (Fried, 2017).
The third stage in the cycle is the operationalized phase.
This is the stage where the company starts to realize the benefit
of the innovation process. For instance, In the Largo Company,
the availability of innovative technology such as drones in its
subsidiary would enable the health facility to begin realizing the
advantages of the technology trough revenue and visibility
increases.
The next stage involves optimization in which the
16. innovator improves and modifies new ideas. The other step is
obsolete or repeat stage (Rusyaeva & Saltykov, 2017). It
summarizes the cycle stage of innovation. Various activities
often occur in this stage. They include changing needs and
workflow. Technology is also available as a form of innovation
in this stage. For that reason, the step allows the employees and
the organization to develop effective programs used to support
innovation.
Rusyaeva & Saltykov (2017) postulated that innovation
can be compared with a turbine. The innovation passes through
an item improvement, the investigation idea, structure, and
conveyance. In this context, the innovation cycles are
comparable from different perspectives because they have
common characteristics. However, they vary in the number of
stages. The reason for comparing innovation with a turbine
model is because the steps start from idealization followed by
investigation, and, lastly, to the propinquity of innovation just
like a turbine. Summary of the Characteristics of Innovation
Cycles
Attribute
Definition
Aspire
Regards innovation-led-growth as significant based on the
targets that mirror it.
Discover
Separated acumens in technology and business that trigger
innovation
Evolve
Creation of new business ideas that determine the sources of
scalable profits.
Scale
Introducing innovations following the market demands
Lifecycle
Stages of innovation cycles
Funnel
Acceptance of an innovationOperationalize Innovation Cycle
17. In Largo Corporation, the best innovation that could be
effective in its operation is the adoption of the Internet of
Things (IoT). Miorandi, Sicari, De Pellegrini, & Chlamtac
(2012) defined IoT as a system of interrelated technological
devices that can transfer data through the internet without the
need for human-to-human or human-to-computer interaction.
Simply put, it is a network of internet-connected devices that
can gather and exchange information (Atzori, Iera, & Morabito,
2010). Examples of IoT technology devices that would suit
Largo include smartwatches, home security systems, and fitness
bands. IoT innovation will help the company to connect quickly
with its customers, thus, gaining a competitive advantage over
the rival firms. Innovation corporate action plan
Innovation is essential for the success of Largo
Corporation, especially with the opportunities and potential
threats. Ms. Johnson, the new company's CEO, already knows
the benefits of maximizing the use of technology to gain a
competitive edge. The company, therefore, needs to develop an
appropriate action plan that will guide Largo's in realizing long-
term solutions to the challenges it may face. The framework for
this action plan involves the identification of the issues that
prompted Largo to require innovation.
Firstly, the corporation should consider fresh ideas that
would take part in transforming how people operate in the
organization. According to Cogliandro (2017), this stage is
referred to as the funnel. An evaluation of the possible
challenges like revenue loss at the firm is also significant in
ensuring that Largo prospers in using the technology to calm the
situation. As Rusyaeva & Saltykov (2017) puts, change occurs
when a person or a company does things differently to attain
different results. Therefore, one of the vital approaches of the
firm to solve its potential threats is overseeing the subsidiary
companies.
Based on the recognition of the idea, the next critical
phase is the development of the prototype. In this stage, the
organization must take risks because it seeks solutions to the
18. threats and challenges it encounters. As the CEO stated, the
primary difficulties, Largo faces, include revenue loss and
addressing possible risks. Considering these issues, the risk-
taking stage is necessary for the corporation since it will give
Largo the chance to strengthen its interaction with the
customers using the technology. This interaction will enable the
firm to gain a significant market share in the global market.
For example, technology such as IoT gives Largos a
platform that increases its interaction with the consumers. By
doing so, the company will regain its revenue and address
potential threats effectively. Thus, when Largo implements such
technology, it gains a new customer preference, receives a new
way of operation, and gets a new mode of advertisement.
Alternatively, Subsidiary companies of Largo like automotive
corporations to advertise their energy products and create
awareness of their efficiency. Additionally, Largo can use
Robotic systems due to its effectiveness. Such ideas can enable
the organization to proceed to the final stage, thrust. Migration
plan
The successful implementation of an innovation by a
company depends on the measures it takes in the process.
Therefore, such an organization must design an appropriate
strategy that can help it meet its goal. A suitable migration
plan involves various processes that lead to proper
implementation.
Firstly, Largo management should understand the effects
the innovation will have on the company. It implies that the
administration must analyze the technology and identify if it
corresponds with the mission and vision of the firm. Next,
leaders should develop a model of the recommended technique.
The availability of an attractive model to the organization
would enable the management to experience the new
technology, which is transferrable to the customers. At this
phase, the leaders need to focus on the impact of the technology
and the experience it will give to the consumers.
The second strategy involves classifying the innovation
19. adoption. According to Rusyaeva & Saltykov (2017),
innovation should be brought closer to the customer for the ease
of adoption. For example, at Largo, the implementation of IoT
will connect the firm with its customers. After the steps above,
it is necessary to assist people in changing from one point to the
other. A company that influences the shift of customers to
advanced technology has a tremendous advantage of
successfully realizing its innovation implementation goals. This
plan will ensure that the corporation gains brand recognition
and customer loyalty.
The Next strategy involves promotion of a new technology.
In this plan, the company will advertise its new technology to
create awareness to the customers and ensure them of their
efficiency. Finally, the organization will adopt the innovation
followed by its full implementation. In this case, Largo will
consider the innovation mature to implementation, and it will
launch it to starts functioning. Summary of the timetable for
Migration Plan
Migration Plan
Date
Understanding the effects that the innovation will have on the
company
April 1, 2020
Classifying the innovation adoption
April 3, 2020
Promotion of a new technology (innovation)
April 4, 2020 – April 10,2020
Adoption and implementation
April 13, 2020
Based on the information above, the primary change
management strategies for Largo Investments are strong
leadership and implementation of new technology. These
strategies will enhance the growth and expansion of the
company by providing a competitive edge and increasing its
20. profitability. Conclusion
Innovation has been a foundation for change and
improvement in most companies. It enables a company to attract
more customers, expand its market share, and increase profits.
Most importantly, innovation helps a firm to gain a competitive
edge. As such, the organization needs to emphasize on
successful migration and implementation of the proposed
technology. For Largo Corporation, adopting the Internet of
Things will help it stay closer to the consumers, thus, increasing
its efficiency of operation. Maximizing the use of this
technology will not only enable it to gain a competitive
advantage, but it will also assist it in increasing its revenue.
Other technological innovations suitable for SIC include the
adoption of virtual reality, robotics and automation. Suitable
implementation and migration are particularly significant for
the organization due to the benefits it will receive for
technological advancement.
References
Atzori, L., Iera, A., & Morabito, G. (2010). The internet of
things: A survey. Computer networks, 54(15), 2787-2805.
Cogliandro, J. A. (2017). Intelligent Innovation: Four Steps to
Achieving a Competitive Edge. J. Richmond, VG: Ross
Publishing.
21. Fried, N. (2017). Vector. Retrieved March 7, 2019, from
https://vector.childrenshospital.org/2012/04/where-are-you-in-
the-innovation-lifecycle/
Miorandi, D., Sicari, S., De Pellegrini, F., & Chlamtac, I.
(2012). Internet of things: Vision, applications, and research
challenges. 1497-1516, 10(7), Ad hoc networks.
Nerur, S., Mahapatra, R., & Mangalaraj, G. (2015). Challenges
of migrating to agile methodologies. Communications of the
ACM, 48(5), 72-78.
Vaughan, J. (2017). Technological Innovation. Retrieved from
https://books.google.com/
Technology Innovation Project
Student’s Name
Institutional Affiliation
Components
Background
Environmental Scanning Report
Innovation Cycle Matrix
Proposed Innovation for Largo
Innovation corporate action plan
Migration plan
22. Conclusion
Technology Innovation Project
The presentation conduct an environmental scan on one of
Largo’s subsidiaries, in particular, a Suburban independent
Clinic to determine the threats and opportunities of the firm.
It also points out the possible disruptive technologies used by
the organization.
Further, it develops an innovation cycle matrix, design an action
plan for the innovation, and evaluate a mitigation plan
2
Largo Corporation is one of the biggest multinational firms in
the globe.
Products and services offered include;
Healthcare,
Retail, finance,
Government services
Annual revenue is $ 750 million
Number of employees: 10,000
Largo Corporation
23. Largo Corporation is one of the biggest multinational firms in
the globe that specializes in a wide range of products and
services, including healthcare, retail, finance, and government
services.
Its headquarters is situated in Largo, Maryland
The company has an Annual revenue is $ 750 million with
approximately 1,000 employees
3
New CEO: Tara Johnson
Mission of the organization;
To provide the best products and services to its customers
throughout the world to enable them to realize their full
potential
Vision and culture act as the foundation of opportunities for
promoting various technological aspects while maintaining its
corporate social responsibility
The organization's mission is to provide the best products and
services to its customers throughout the world to enable them to
realize their full potential.
Largo’s vision and culture act as the foundation of opportunities
for promoting various technological aspects while maintaining
24. its corporate social responsibility
4
Involves;
Future potential threats
Potential Disruptive technologies
Environmental Scan
Environmental scan provides
Future potential threats
Potential Disruptive technologies associated with Largos
Corporation
5
likelihood of the organization's healthcare practitioners failing
to consider the new technology aimed at promoting innovation.
stiff competition from rival organizations that offer similar
products and services
Future Potential Threats
25. One of the future potential threats that are likely to face Largo's
subsidiary is the likelihood of the organization's healthcare
practitioners failing to consider the new technology aimed at
promoting innovation
Another possible threat for Largo’s subsidiary (Suburban
Independent Clinic) is stiff competition from rival organizations
that offer similar products and services
6
The use of robotics
Robotics transforms the company's operations
Their usage improves accuracy and precision in the clinical
setting, particularly in sensitive operations
Automation
Involve handheld technological instrument that can diagnose at
least 13 diseases and detect the significant signs of the disease.
Potential Disruptive Technologies
The use of robotics is one of the possible disruptive
technologies that Largo's subsidiary is likely to adopt
Automation is another probable disruptive technology that
Suburban Independent Clinic may adopt
7
Innovation meaning
26. the creation, development, and adoption of a new product or
services to increase efficiency and competitive advantage.
Careful to use imagination to execute new ideas successfully
(Onetti, Zucchella, Jones, & McDougall-Covin, 2012)
Through innovation, a company can attract more customers and
expand its market share
Innovation Cycle Matrix
Innovation is the creation, development, and adoption of a new
product or services to increase efficiency and competitive
advantage
8
Initiate
The involves the identification of opportunities
The Innovator outlines the project scope, mission and objectives
The innovator also brainstorms new ideas by looking for
motivations from similar market players
Determination of an operational gap
The innovator diffuses the idea into the whole organization
Stages of the generic cycle of innovation
27. The first stage of the innovation cycle is Initiate: It involves the
identification of opportunities. In this stage, the innovator
defines the project scope and outlines the mission as well as the
objectives of the project. The innovator also brainstorms new
ideas by looking for motivations from similar market players
The second stage involves the determination of an operational
gap where the innovator diffuses the idea into the whole
organization
9
3. Operationalized phase
The company starts to realize the benefit of the innovation
process
4. Optimization
The innovator improves and modifies new ideas
5.Obsolete or repeat stage
Summarizes the cycle stage of innovation
3. The third stage in the cycle is the operationalized phase. This
is the stage where the company starts to realize the benefit of
the innovation process
4. The next stage involves optimization in which the innovator
improves and modifies new ideas
5. The other step is obsolete or repeat stage. It summarizes the
cycle stage of innovation
28. 10
Adoption of the Internet of Things (IoT).
A system of interrelated technological devices that can transfer
data through the internet without the need for human-to-human
or human-to-computer interaction
Examples;
Smart watches
Home security systems
Fitness bands
Proposed Innovation for Largo
In Largo Corporation, an innovation that could be effective in
its operation is the adoption of the Internet of Things (IoT)
Examples of IoT technology devices that would suit Largo
include smartwatches, home security systems, and fitness band
11
The framework for the action plan involves the identification of
the issues that prompted Largo to require innovation
Takes two steps;
Funnel
Development of the prototype
Innovation corporate action plan
29. For the implementation of the corporate action plan, the
company should consider fresh ideas that would take part in
transforming how people operate in the organization
12
Involves;
Understanding the effects the innovation will have on the
company
Developing a model of the recommended technique
Classifying the innovation adoption
Migration plan
Migration plan involves three strategies
Understanding the effects the innovation will have on the
company
Developing a model of the recommended technique
Classifying the innovation adoption
13
30. Innovation is the foundation for change and improvement in
most companies
It helps a firm to gain a competitive edge
For Largo Corporation, adopting the Internet of Things will
help it stay closer to the consumers
Suitable implementation and migration are particularly
significant for the organization due to the benefits it will
receive for technological advancement
Conclusion
For Largo Corporation, adopting the Internet of Things will
help it stay closer to the consumers, gain a competitive
advantage and increase its productivity
14
Atzori, L., Iera, A., & Morabito, G. (2010). The internet of
things: A survey. Computer networks, 54(15), 2787-2805.
Cogliandro, J. A. (2017). Intelligent Innovation: Four Steps to
Achieving a Competitive Edge. J. Richmond, VG: Ross
Publishing.
Fried, N. (2017). Vector. Retrieved March 7, 2019, from
https://vector.childrenshospital.org/2012/04/where-are-you-in-
the-innovation-lifecycle/
Miorandi, D., Sicari, S., De Pellegrini, F., & Chlamtac, I.
(2012). Internet of things: Vision, applications, and research
challenges. 1497-1516, 10(7), Ad hoc networks.
Nerur, S., Mahapatra, R., & Mangalaraj, G. (2015). Challenges
31. of migrating to agile methodologies. Communications of the
ACM, 48(5), 72-78.
Vaughan, J. (2017). Technological Innovation. Retrieved from
https://books.google.com/
References
Personnel Worksheet
Directions: List the personnel required for the implementation
of your health education program. Create a brief job description
for each respective job role and identify the qualifications
needed to fill this job role. Note that volunteers, when
necessary, should also be included.
Note: Be sure to include the salary associated with these job
roles and then match the salaries identified in the budget
worksheet. Not all respective rows for each job role will need to
be completed. Only identify the personnel needed for your
specific health education program.
Job Role
Job Description
Qualifications
Salary
36. In general, the road systems are adequate to connect all the
towns in the county. The distances between towns range from
8–20 miles and all towns and most outlying areas have
telephone, electricity, sanitation, and water services. In
addition, there are two major newspapers, three radio stations,
and one cable television station serving the county. Of these,
one newspaper, one radio station, and the cable TV station are
located in Point Mar. There are three high schools, four middle
schools, and five elementary schools in the county with one-
third of the children in the county being bussed into these
schools. There are three hospitals in the county with two of
these (Vista County Hospital and San Sebastian Regional
Medical Center) located in Point Mar. There are also ambulance
services, fire and police services, and other governmental
agencies serving the entire county. Based on your needs
assessment you have identified five potential health issues in
the Point Mar community. These include:
An increase in Chlamydia infections among teens in the
community