Business Process Management- PDF
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Added on 2021-05-31
Business Process Management- PDF
Added on 2021-05-31
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Business Process Management
IntroductionIBM stands for International Business Machines Corporation (IBM), which is among the market leaders in the industry of information technology, computers, storage systems and microelectronics. The headquarters of the organization is established in Armonk, New York; however, the business practices are operational all around the world. Engagement of 319,000 employees and 671,610 stakeholders potentially justifies the business orientation of the companyin the contemporary market. The company survived this competitive era for approximately 90 years, out of which, 60 years is a period of basic research programs (High, 2012). The central alignment of the company relies on innovation practices due to its belief in innovation as a business model and an organizing principle.General Overview of InnovationDefining innovation: According to the policies of IBM, ideas do not facilitate the business practices, it’s the innovative implementation that makes the change (Kline and Rosenberg, 2010).The organizational structure for innovation: To promote the attributes of innovation within IBM, the organization has laid special emphasis over employee partaking, who aremade in charge to implement and maintain innovative programs within the company (Kline and Rosenberg, 2010).Innovation funding: Funding is a crucial factor for every business; however, in IBM innovative funding practices are undertaken to facilitate the profitability of business practices (Kline and Rosenberg, 2010).Defining a Strategy for Innovation
Innovation strategy: Implication of innovative strategies to gain major business opportunities assists IBM in evaluating the policies from a technical perspective (Teece, 2010).Key stakeholders of the innovation strategy: Keystone clients, government agencies, venture capitalists, IT analysts, financial analysts, standards bodies, IBM alumni and business partners are the potential stakeholders of the innovation strategy (Zott and Amit,2010).Innovation project selection: The project selection method depends on two factors, whichare product development or the research area. Project development method transforms creative ideas to specific projects, whereas, research area is commissioned to planning authorities (Teece, 2010).Factoring competitive environment in innovation: In IBM, competitive intelligence is a crucial factor of every business unit’s development policy and thus, it is considered in thecorporate planning process (Zott and Amit, 2010).Development of Infrastructure and Innovation ProcessesOrganizational model and innovation: This system was implemented by IBM in three categories, which are reinvestment cycle, governance model and measurement cycle (Schaffers, Komninos, Pallot, Trousse, Nilsson and Oliveira, 2011).Role of research in innovation: Comprehensive research over every product development and service implementation facilitates the organization with an integrated solution to business objectives (Nam and Pardo, 2011).External partnerships: External partnership in terms of venture capital, university relations, keystone clients and independent software vendors empower the social and
environmental innovations of the company (Schaffers, Komninos, Pallot, Trousse, Nilsson and Oliveira, 2011).Project management: Practices of project management to effectively utilize the available resources also justifies the process of innovation for IBM (Nam and Pardo, 2011).Nourishing creativity and innovation: Innovation in IBM is promoted by encouraging every single employee to work innovatively (Schaffers, Komninos, Pallot, Trousse, Nilsson and Oliveira, 2011).IBM research: Practice of IBM research promotes leadership skills, encouragement and sense of responsibility among the employees by charging them with errands and through reward system (Nam and Pardo, 2011).Ecosystem (open to external constituencies): Ecosystem to innovation in IBM comprises Global Innovation Outlook (GIO), CEO survey and National Innovation Initiative (Chesbrough, 2011).Innovation processes: The innovation process of IBM comprises set of processes, such as ideation, potential impact, strategic fit, financial impact, senior management reviews, capability and capacity reviews and many more (Nam and Pardo, 2011).Technology enablers: Intranet, Jams, and ThinkPlace arer considered as the chief technology enablers for IBM (Schaffers, Komninos, Pallot, Trousse, Nilsson and Oliveira, 2011).Internal alignment: The administration of IBM believes that successful innovation for a company relies upon the interplay among workplace constituencies (Chesbrough, 2011).Establishing an Innovation Fostering Culture
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