Impact of Innovation and Development on the Stakeholder Relationship

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).
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
2

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.
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
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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
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
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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
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Research
activities
Week
1
Week
2
Week
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Week
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Week
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Week
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Week
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Week
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W
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1 Select
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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-
 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
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