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Enterprise Innovation and Markets - PDF

   

Added on  2021-01-01

11 Pages2600 Words490 Views
BUSINESS REPORT(ENTERPRISE INNOVATIONAND MARKETS)

EXECUTIVE SUMMARYPresent report focuses on Optus Company which is the second largesttelecommunications company in Australia and its innovation process. It is a wholly ownedsubsidiary of SingTel since 2001. It has brands like, Virgin Mobile Australiain the mobiletelephony market,Uecommin the network services market andAlphawestin the ICT servicessector. It includes topics like, market and economic analysis. Problems related to innovationprocess and its solution as well. It also discusses about commercialization of the whole processin the organization and its impact on them. This report also explain about various analysis whichis very useful for them in analyzing their own strength and weaknesses, such as, SWOTanalysis. This report concludes that it is very important for Optus to bring innovation in theirservices to increase or attract customers to buy their service.

Table of ContentsINTRODUCTION...........................................................................................................................3TASK...............................................................................................................................................31. Research Findings..............................................................................................................3Part 1: Market Analysis..........................................................................................................3Part 2: Economics Analysis....................................................................................................52. Problem Statement..............................................................................................................63. The Big Idea.......................................................................................................................64. Commercializing the Innovation........................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10APPENDICES...............................................................................................................................11

INTRODUCTIONInnovation is process which is used by any organization to bring any change into theirexisting or upcoming products and services to increase their productivity and customers rate aswell. This process has to be done very carefully by the organization get effective results. Presentreport will focus on Optus which is the second largest telecommunications company in Australiaand its innovation process. It will include topics like, market and economic analysis. Problemsrelated to innovation process and its solution as well. It will also discuss aboutcommercialization of the whole process in organization and its impact om them.TASK1. Research FindingsPart 1: Market AnalysisThis is the most important task for the organization to understand their business moreprecisely. Market research can be done my implementing various model in company, such as,SWOT AnalysisSWOT analysis for the study of their internal environmental factors which will give theminformation related to their strength, weaknesses, opportunities and threats. From this process itbecomes easy for Optus to analyze the areas where they need to bring innovation in theirproducts and services. SWOT analysis a highly interactive process and requires effectivecoordination among various departments within the organization such as – marketing, finance,operations, management information systems and strategic planning (Optus SWOT Analysis /Matrix, 2015). FavorableUnfavorableStrengthsWeaknessesInternalfactorOptus has strong brandportfolio which is veryuseful for them to sustaintheir customers.They have poor financialplanning.High level of customersatisfaction.Does not have a goodcommand on productdemand forecasting which

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