Business Innovation & Stakeholder Relations

This project analyzes the impact of innovation and development on stakeholder relationships, using 2degree, a telecommunications company in New Zealand, as a case study. It explores the significance of innovation in improving business efficiency and effectiveness, analyzes the role of stakeholders in business growth, and provides recommendations for effective innovation management. Desklib provides past papers and solved assignments for students.

BUSINESS INNOVATION &
STAKEHOLDER RELATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Ethical consent........................................................................................................................2
Research Questions................................................................................................................2
RESEARCH METHODOLOGY...........................................................................................3
SECONDARY DATA ....................................................................................................................2
Conclusion..............................................................................................................................4
PART 2 Executive summary...........................................................................................................4
Discussion of information and data using management concept relevant to innovation issues. 6
PART 3............................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
In order to achieve high degree of success in the competitive business environment,
a company is needed to make some effective changes in the existing products and services.
With help of bring innovation and development company can easily improve productivity
and performance. The current report is based on the impact of innovation and
development on the stakeholder relationship with respect of 2degree company. It is a
telecommunication provider that operates its business in New Zealand.
PART 1CASE SCENARIO
Innovation and development within the organisation is one of the significant aspects that
helps company in improving business growth and effectiveness. By bringing creativity and
innovation along with products and services, an organisation can easily develop competitive
advantages and improve business growth.
Task 1With the help of innovation and development, a company can improve stakeholder
relationship that aids in improving business efficiency and effectiveness. Stakeholder plays a
very criteria role in the corporation who is directly or indirectly gets affected by all decisions.
While business entity takes any decision regarding policies, procedures, practices, structure,
prices of commodity and others then it is very important to communicate stakeholders about the
same. With the help of innovation in business, a company can easily maintain good relationship
with stakeholders such as customers, employees, government, suppliers and investors (Fischer
and Qaim, 2012). The current study is based on the significance of innovation and changes in the
business improvement as well as stakeholders relationship with respect to 2-degree company. It
is a telecommunication provider that operates its business in New Zealand. It mobile network
launched on 4 august 2009 after nine year of planning. It delivers high quality of products and
services to its customers as it has effective positions in the market. Its network works with GSM-
900, UMTS-900 and UMTS-2100 mobiles as Vodafone have in business.
Research Title
Innovation and development of positive stakeholder relations for improving business
efficiency and effectiveness.
Research Aim
1

To study the significance of innovation and development upon positive stakeholder
relationship that helps in improving business efficiency and effectiveness: A case study on
2degree company
Research Objectives
To assess the significance of positive stakeholder relationship within organisation
To analyse the impact of innovation and development on positive stakeholder relationship
To determine the significance of innovation and development in the business efficiency and
effectiveness
Research Questions
What is the meaning if innovation and development in an organisation?
What is significance of stakeholder relationship in business efficiency and growth?
What is the impact of innovation and development on positive stakeholder relationship?
Task 2
Background of study
Innovation and development within the organisation is one of the significant aspects that
helps company in improving business growth and effectiveness. By bringing creativity and
innovation along with products and services, an organisation can easily develop competitive
advantages and improve business growth.
With the help of innovation and development, a company can improve stakeholder relationship
that aids in improving business efficiency and effectiveness. Stakeholder plays a very criteria
role in the corporation who is directly or indirectly gets affected by all decisions. While business
entity takes any decision regarding policies, procedures, practices, structure, prices of
commodity and others then it is very important to communicate stakeholders about the same.
With the help of innovation in business, a company can easily maintain good relationship with
stakeholders such as customers, employees, government, suppliers and investors (Fischer and
Qaim, 2012).
2

The current study is based on the significance of innovation and changes in the business
improvement as well as stakeholders relationship with respect to 2-degree company. It is a
telecommunication provider that operates its business in New Zealand. It mobile network
launched on 4 august 2009 after nine year of planning. It delivers high quality of products
and services to its customers as it has effective positions in the market. Its network works
with GSM-900, UMTS-900 and UMTS-2100 mobiles as Vodafone have in
business.Ethical consent
Rationale of the study
At the time of selecting the research subject, there are various factors affected
researcher choice and preference. The major reason for selecting this subject for
investigation is researcher interests as scholar desires to investigate on how innovation that
changes and help company in improving stakeholder’s relationship and overall
performance. Another major reason is that 2 Degree company is facing issues related to
poor stakeholders’ relationship thus researcher has conducted investigation for finding out
strategies to improve stakeholder relations and business performance.
Task 3
According to the view of Aarikka-Stenroos and Sandberg, (2012) Innovation is a process of
transforming new ideas and methods in the creation. As per the business point of view,
advancement is an orderly procedure of applying new thoughts, techniques and equations in
business tasks through which innovativeness can created in the organization. Advancement and
commercialisation is a procedure by which administration can help up its productivity and offers
of item and administrations.
With the help of development, a firm can recharge or rebuild its items and administrations by
imagination and new thoughts. This will pull clients and empower them for procurement. In
straightforward terms, one might say that advancement and commercialisation helps an
organization through which it can create extraordinary and powerful brand picture in the market
and increment adaptability.
3

An advancement is any improvement that makes a few changes in the business preparing and
generation. It could be as large as a stream motor or as little as a minor change to creation line
forms. Advancement is a synonymous with hazard taking and associations that make progressive
items or advances go out on a limb since they make new market. Development has progressed
toward becoming maybe the most essential wellspring of upper hand in cutting edge economies.
In the opinion of Anokhin, Wincent and Frishammar, (2011) stakeholder plays a crucial role in
an organisation who directly and indirectly get affected by business decisions. Customers,
employees, suppliers, investors and government are major players of an organisation who is
directly and indirectly affected by company’s decisions and they are interested in the business
practices and decisions. While company takes any business decisions then it is very important to
take participation and consider them. While a company makes changes in policies, practices
strategies, system, structure then it directly influences stakeholder’s decisions. For improving
company’s performance and business growth, effective and healthy relationship with
stakeholders is very important. By developing healthy relationship with stakeholder, a company
can easily improve business growth and efficiency.
In the opinion of Bogers and West, (2012) for improve relationship with stakeholders in
the company, effective innovation and development is another strategy through which trust and
loyalty can easily be improved among stakeholders like customers, employees, suppliers,
investors etc. Once company brings innovation and creativity within the product, services and
businesses then it will directly affect growth and profitability of business.
With help of innovation and development, a company can easily improve revenue through which
employees’ salary and wages can also be improved. Employees are major stakeholders for an
organisation and its salary and incentives are directly linked with organisation’s revenue and
profitability.
By implementing innovation and creativity in the business, a company can improve working
conditions, wages, salary etc. for personnel’s. In contradicting view by Buenstorf and Geissler,
(2012) who stated that customers can majorly beneficial by innovation and creativity within the
business enterprise. Once company brings innovation and development in products and services
then it directly affects customer satisfaction level. By innovative and creative products and
4

services, corporation can improve customer satisfaction. Buyers are able to purchase high quality
and creative commodity from company. In the opinion of Caniëls and van den Bosch, (2011)
suppliers are also largely beneficial by innovation and development of the company. While
company introduces new products and bring innovation then it requires good quality and
quantity of raw materials from supplies. Thus, it can be said that with help of innovation and
development, suppliers’ revenue can also increase.
In the opinion of Clark, (2010) business changes and development have significant
relationships with stakeholders. While any changes bring in the company then it will directly
affect relationship with customer, employees, and suppliers. It is very important for the
management of company to consider participation of stakeholders in business decision making.
It is responsibility of manager to focus on the stakeholders and analyse the impact of changes on
their activities and functioning. By help of effective change management and innovation
management, the company can easily develop smooth and healthy relationship with them.
Innovation and technology development is existing around the boards to maintain the
relationship between stakeholder and projects. As the introduction of new technology and
development, stakeholder condition is in favour or harm as the implementation of product and
services. In the world where everyone is ready to kick you out the development is necessary. The
innovative projects can steal the eye of stakeholder to your project i.e. stakeholder influence by
your projects. Innovation and development in any business can take a business to high or with
the beneficial ideas both (entrepreneur and stakeholder) can measuring the success.
Research Questions
What is the meaning if innovation and development in an organisation?
What is significance of stakeholder relationship in business efficiency and growth?
What is the impact of innovation and development on positive stakeholder relationship?
w
e
e
k
Research
activities
Week
1
Week
2
Week
3
Week
4
Week
5
Week
6
Week
7
Week
8
W
e
e
k
5

9
1 Select
Business
2 Define problem
Address ethics
3 Secondary
data
4 Submit
proposal
5 Collect data
6 Analysis of data
7 Write draft
report
8 Submit report
9 Oral
presentation
Task 4RESEARCH METHODOLOGY
Research Methodology plays a very significant part in the investigation. It allows
researcher to conduct investigation in right manner and find out solutions to research
issues and problems. It is a systematic procedure of collecting, analysing, assessing and
interpreting information so as right solution of research problem can obtain. There are
several methods of research methodology such as data collection, sampling, design,
research approach, and research philosophies (Cooper, Seiford and Zhu, 2011). By
selecting right and appropriate methods of research, solution can easily find out buy
investigator. In the present study, for conducting study on significance of innovation and
development upon positive stakeholder relationship that helps in improving business
efficiency and effectiveness with respect to 2degree company, researcher will use following
methods-
6

 Data collection- This is very important method by which information can gather by
scholar. There are major two methods of data collection that is primary and
secondary. While information collects from survey, interview, observation then it is
known as primary data collection. On the other hand, information gathers from
books, journals, blog, magazines then it is known as secondary data collection. In
the present study, researcher will collect data from survey method.
 researcher in understanding the research in effective manner. It provides a
systematic path for carry out investigation. Exploratory research design will use in
the present study for conduct study on significance of innovation and development
upon positive stakeholders’ relationship that helps in improving business efficiency
and effectiveness in 2degree company.
 Research approach- Research approach allows scholar in conducting study by use
of several theories, models and concepts. Inductive and deductive are major two
approaches. In the present study, scholar will use deductive research approach to
study on significance of innovation and development upon positive stakeholders
relationship that helps in improving business efficiency and effectiveness in the
2degree company (Datta, Jessup and Reed, 2011).
 Sampling- Sampling helps scholar in selecting some group of people from large
group. In the present study, scholar will select 15 employees and 15 customers for
analyse the impact of innovation on stakeholders relationship in 2degree company
in Newzeland.
 Task 5
7

SECONDARY DATA
According to the view of Aarikka-Stenroos and Sandberg, (2012) Innovation is a process
of transforming new ideas and methods in the creation. As per the business point of view,
advancement is an orderly procedure of applying new thoughts, techniques and equations in
business tasks through which innovativeness can created in the organization. Advancement and
commercialisation is a procedure by which administration can help up its productivity and offers
of item and administrations.
With the help of development, a firm can recharge or rebuild its items and
administrations by imagination and new thoughts. This will pull clients and empower them for
procurement. In straightforward terms, one might say that advancement and commercialisation
helps an organization through which it can create extraordinary and powerful brand picture in the
market and increment adaptability.
An advancement is any improvement that makes a few changes in the business preparing
and generation. It could be as large as a stream motor or as little as a minor change to creation
line forms. Advancement is a synonymous with hazard taking and associations that make
progressive items or advances go out on a limb since they make new market. Development has
progressed toward becoming maybe the most essential wellspring of upper hand in cutting edge
economies.
In the opinion of Anokhin, Wincent and Frishammar, (2011) stakeholder plays a crucial role in
an organisation who directly and indirectly get affected by business decisions. Customers,
employees, suppliers, investors and government are major players of an organisation who is
directly and indirectly affected by company’s decisions and they are interested in the business
practices and decisions. While company takes any business decisions then it is very important to
take participation and consider them. While a company makes changes in policies, practices
strategies, system, structure then it directly influences stakeholder’s decisions. For improving
company’s performance and business growth, effective and healthy relationship with
stakeholders is very important. By developing healthy relationship with stakeholder, a company
can easily improve business growth and efficiency.
In the opinion of Bogers and West, (2012) for improve relationship with stakeholders in
the company, effective innovation and development is another strategy through which trust and
loyalty can easily be improved among stakeholders like customers, employees, suppliers,
8

investors etc. Once company brings innovation and creativity within the product, services and
businesses then it will directly affect growth and profitability of business.
With help of innovation and development, a company can easily improve revenue
through which employees’ salary and wages can also be improved. Employees are major
stakeholders for an organisation and its salary and incentives are directly linked with
organisation’s revenue and profitability.
By implementing innovation and creativity in the business, a company can improve
working conditions, wages, salary etc. for personnel’s. In contradicting view by Buenstorf and
Geissler, (2012) who stated that customers can majorly beneficial by innovation and creativity
within the business enterprise. Once company brings innovation and development in products
and services then it directly affects customer satisfaction level. By innovative and creative
products and services, corporation can improve customer satisfaction. Buyers are able to
purchase high quality and creative commodity from company. In the opinion of Caniëls and van
den Bosch, (2011) suppliers are also largely beneficial by innovation and development of the
company. While company introduces new products and bring innovation then it requires good
quality and quantity of raw materials from supplies. Thus, it can be said that with help of
innovation and development, suppliers’ revenue can also increase.
In the opinion of Clark, (2010) business changes and development have significant
relationships with stakeholders. While any changes bring in the company then it will directly
affect relationship with customer, employees, and suppliers. It is very important for the
management of company to consider participation of stakeholders in business decision making.
It is responsibility of manager to focus on the stakeholders and analyse the impact of changes on
their activities and functioning. By help of effective change management and innovation
management, the company can easily develop smooth and healthy relationship with them.
Innovation and technology development is existing around the boards to maintain the
relationship between stakeholder and projects. As the introduction of new technology and
development, stakeholder condition is in favour or harm as the implementation of product and
services. In the world where everyone is ready to kick you out the development is necessary. The
innovative projects can steal the eye of stakeholder to your project i.e. stakeholder influence by
your projects. Innovation and development in any business can take a business to high or with
the beneficial ideas both (entrepreneur and stakeholder) can measuring the success.
9

Conclusion
From this entire discussion, it has been analysed and summarised that innovation
and development in the corporation helps in improving stakeholders relationship.
Customers are largely beneficial by innovation because they can get high quality and
innovative products by changes in business. It is also concluded that it is very important for
the management of company to consider participation of stakeholder in business decision
making. By help of effective change management and innovation management, this
company easily developed smooth and healthy relationship with them.
PART 2
Task 1 Executive summary
This section includes collected primary and secondary information regarding innovation
and development and its significance in stakeholders’ relationship. Researcher have
conducted survey from 15 employees and 15 customers of 2 degree company. With help of
these stakeholders, company can effectively collect information regarding operational
environment and improve its performance.
Task 2
Population – Researcher has conducted survey from 15 employees and 15 customers of 2
degree company. With help of this stakeholders’, primary information regarding the
company can easily collect.
Validity and reliability- The used information in the survey is reliable and valid for the
objective of investigation.
Benefits of research- With help of this research, scholar has effective various views,
opinions and information regarding operations of 2degree company and impact of
innovation on stakeholders relationship.
Task 3Analysis of data
1 Do you understand the meaning of innovation and development changes in business?
 Yes
 No
10

2 Does 2degree company have maintained effective relationship with its stakeholders?
 Yes
 No
3 After implemented innovation and creativity with product and services, you are
beneficial?
 Satisfied
 Can't say
 Dissatisfy
4 Do you agree that innovation and changes helps in improving stakeholder relationship?
 Strongly agree
 Agree
 Disagree
 Strongly disagree
5 Do you agree that innovative product and services helps in improve business profitability
and growth?
 Strongly agree
 Agree
 Disagree
 Strongly disagree
6. Recommend strategies to improve stakeholder relationship by innovation and
development in product and services
Theme 1: Employees and customers meaning of innovation and development changes in
business
11

Do you understand the meaning of innovation and
development changes in business? Customers Employees
Yes 13 14
No 2 1
Interpretation: From this above table, it has been analysed that majority of employees and
customers of 2degree company are well aware about the meaning of concept of innovation
and development. Thus, from this data, it has been analysed that company effectively
implement innovation and development with its product and services.
Theme 2: Company have maintained effective relationship with its stakeholders
Does 2degree company have
maintained effective relationship
with its stakeholders ? Customers Employees
Yes 12 13
No 3 2
12
Yes No
0
2
4
6
8
10
12
14
16
Customers
Employees

Interpretation: From this table, it has been analysed that 2degree company have
effectively maintained relationship with employees and customers. From 30 respondents’,
majority stakeholders said that cited venture effectively maintain relationship with its
stakeholders.
Theme 3: After implemented innovation and creativity with products and services,
customers and employees are beneficial
After implemented innovation and
creativity with products and
services, you are beneficial ? Customers Employees
Satisfied 13 11
Can't say 1 2
Dissatisfy 1 2
13
Yes
No

Interpretation: From this table it has been analysed that customers and employees are
beneficial after implemented innovation and development with its product and services.
Majority of stakeholders in the 2degree company said that After implemented innovation
and creativity with product and services, you are beneficial.
Theme 4: Innovation and changes helps in improving stakeholder relationship
Do you agree that innovation and changes help in
improving stakeholder relationship ? Customers Employees
Strongly agree 10 11
Agree 3 3
Disagree 1 1
Strongly disagree 1 1
14
Satisfied Can't say Dissatisfy
0
2
4
6
8
10
12
14
Customers
Employees

Interpretation: From this table and graph, it has been shown that innovation and changes
help in improving stakeholders’ relationship. Majority of employees and customers in the
survey said that with help of innovation and development, they are beneficial and their
relationship with employer also improved.
Theme 5: Innovative products and services help in improving business profitability and
growth.
Do you agree that innovative products and services help
in improving business profitability and growth ? Customers Employees
Strongly agree 10 12
Agree 3 1
Disagree 1 1
Strongly disagree 1 1
15
Strongly agree
Agree
Disagree
Strongly disagree
0 2 4 6 8 10 12
Employees
Customers

Interpretation: From this table, it has been analysed that innovative products and services
help in improving business profitability and growth. From all respondents in the survey, it
has been found that majority of employees and customers said that innovative products
and services help in improving business profitability and growth.
PART 2
TASK 4
Discussion of information and data using management concept relevant to innovation
issues.
Management is an activity, which works as to get things done through others. In
this, it is essential to properly manage the entire things so longer profitability and
productivity and can be maintained. Management is the terms which helps to create
sustainable position in market. This concept will be inclusive of the following points as are-
Stakeholder theory- The stakeholder theory is the activity, which manages the duty to
maximise the interest of shareholders in the way which is permitted by law and social
values. Thus, stakeholders to an enterprise must be inclusive of customers, suppliers,
16
Strongly agree Agree Disagree Strongly disagree
0
5
10
15
20
25
Employees
Customers

employees, communities and shareholders (Karlsson, Larsson and Öhrwall Rönnbäck, 2018.).
In this, any group or an individual who can affect affected by achievement of
organisational objectives. They play the main role in terms to bring innovation to an
enterprise. The general idea of stakeholders concept is to redefine organisation.
Leadership- The main principle of leadership is to hire the right people at the accurate
place as it will be helpful in accomplishing projects on timely manner. Thus, behavioural
theory offers new perspective, which focuses over behaviour of leaders as per mental,
physical and various number of social characteristics. In this, research should evaluate
causes and effect relationship of specific human behaviour. The effective individual to an
enterprise should bring innovation so that entity can grow their business activities
systemically.
Motivational theory- It is one of the effective theories, which works as a dual theory or
motivation and it was developed by Herzberg Theory. In this, there are two factors, which
can influence employee motivation and satisfaction.
It can be discussed in below context as follows-
1. Motivational factors- There are number of factors, which leads to satisfaction and
motivate employees to work harder.
2. Hygiene factors- This is a factor, which leads to dissatisfaction and lack of
motivation among employees.
Thus, it can be said that motivation procedure plays the main role at time of making
innovation in an enterprise.
Principle of innovation planning- In this, it can be said that innovation planning is the
procedure, which works to plan business activities systematically. With help of
continuously launching new product and services will revolutionize the activities of the
firm. In this, most industries are enhanced in the services which will work as to bring
innovation in market. In addition to this, managing dynamics of design skills will become
the major challenge to do each things effectively (Janssen and Castaldi, 2018). In addition to
this, it can be said that continuously launching of product and services will be beneficial for
any 21st century company. I this, it can be said that innovation strategy guides business
17

renewal and this all the things derive it from corporate strategy. In order to this, the
capacity to take innovative procedure is one of main and essential pillar which works as to
supports the performance of an enterprise.
Organising and planning- In this, planning is a process, which is helpful in terms to keep
focus over deals and decide on steps. With help of effective planning, innovative result of an
enterprise can be achieved. In this, planning is helpful in terms to develop skills and
strategies so that there can be accomplishment of overall objectives of an enterprise. In
addition to this, organising means to organise each activity effectively and it is helpful to
maintain crucial success to an enterprise.
TASK 5
Conclusion- Based on the above report, it can be concluded that innovation is the
procedure, which helps to achieve desires objectives. It can be done with help of innovative
procedures. The modification in products and services will impact over all working of an
enterprise. In addition to this, innovative procedure attracted customer's and working of
an enterprise can be done in systemic mode. Hence, there are number of activities which
are are covered as are stakeholder analysis, principles of innovation planning, motivation
and leadership theory.
TASK 6
To conduct effective innovation, there is need to provide recommendations in the following
context as follows-
1. To maintain innovation in the firm, it is essential to frame each activity so that
better process for execution of things can be done systematically.
2. The innovation is systematic process which can attract customers to an enterprise.
3. Innovation skill of a person must be a combination of cognitive skills and it can be
maintained with the help of behavioural skills, functional skills and technical skills
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REFERENCES
Books and Journals
Aarikka-Stenroos, L. and Sandberg, B., 2012. From new-product development to
commercialization through networks. Journal of Business Research. 65(2). pp.198-
206.
Anokhin, S., Wincent, J. and Frishammar, J., 2011. A conceptual framework for misfit
technology commercialization. Technological Forecasting and Social Change. 78(6).
pp.1060-1071.
Bogers, M. and West, J., 2012. Managing distributed innovation: Strategic utilization of
open and user innovation. Creativity and innovation management. 21(1). pp.61-75.
Buenstorf, G. and Geissler, M., 2012. Not invented here: technology licensing, knowledge
transfer and innovation based on public research. Journal of Evolutionary
Economics. 22(3). pp.481-511.
Caniëls, M.C. and van den Bosch, H., 2011. The role of higher education institutions in
building regional innovation systems. Papers in Regional Science, 90(2). pp.271-286.
Clark, J., 2010. Coordinating a conscious geography: the role of research centers in multi-
scalar innovation policy and economic development in the US and Canada. The
journal of technology transfer. 35(5). pp.460-474.
Cooper, W.W., Seiford, L.M. and Zhu, J. eds., 2011. Handbook on data envelopment
analysis . Springer Science & Business Media.
Datta, A., Jessup, L. and Reed, R., 2011. Corporate reputation and the commercialization
of innovation: Does reputation match reality, and does innovation
matter?. Technology and Investment. 2(4). pp.256-272.
Fischer, E. and Qaim, M., 2012. Gender, agricultural commercialization, and collective
action in Kenya. Food Security. 4(3). pp.441-453.
Janssen, M.J. and Castaldi, C., 2018. Services, innovation, capabilities, and policy: Toward a
synthesis and beyond.Science and Public Policy.
Karlsson, A., Larsson, L. and Öhrwall Rönnbäck, A., 2018. Product-service system innovation
capabilities: linkages between the fuzzy front end and subsequent development
phases. International Journal of Production Research. 56(6). pp.2218-2232.
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