Innovation and Business Development | Essay

Running head: INNOVATION AND BUSINESS DEVELOPMENT
INNOVATION AND BUSINESS DEVELOPMENT
Name of the Student
Name of the University
Author Note

INNOVATION AND BUSINESS DEVELOPMENT1
Table of Contents
Prototyping phase............................................................................................................................2
Prototype 1:..................................................................................................................................3
Prototype 2:..................................................................................................................................4
Prototype 3:..................................................................................................................................5
Market analysis (porter 5 forces).....................................................................................................6
Implementation and commercialization..........................................................................................9
Commercialization.......................................................................................................................9
Diffusion of innovation..............................................................................................................10
Scalability and Sustainability........................................................................................................11
Performance management.............................................................................................................15
References......................................................................................................................................19

INNOVATION AND BUSINESS DEVELOPMENT2
Prototyping phase
Prototyping phase is considered as one of the crucial phase as this helps in managing the
different components of a system. With the development of a wearable sensor it will become
easy to have real time monitoring plan. This will ensure that better service is offered towards the
patients. The aim of describing the prototype phase is to state the key phases that are included
within the medical devices for the purpose of enhancing the performance. The balance and
weight sensor technology has gained a huge importance in the medical field as this helps in
ensuring that proper support has been offered towards the patients. The medical applications that
are offered with this technology is that it helps in identifying the blood transfusion bag and also
focuses on converting the force weight and force into electrical signal. The software that are
essential for designing the system includes GPS, RFID, AI and IoT. Thus with the help of an
effective system it will become easy to manage the health records of the patients. The sensors are
designed in such a way that it will be able to evaluate the patient health condition by determining
the blood pressure, the workouts and the other daily activities.
The prototypes are designed for the purpose of enhancing the performance. The different
prototypes are designed with the aim of offering a better healthcare feature towards the
customers. The shoes are designed with the aim of ensuring that proper support is maintained for
ensuring better support towards the patients. This ensures that better resolution with high power
has been offered so that it can ensure that the efficiency has increased. Thus while designing a
wearable device for managing the patients’ health the use of Flexsense is highly recommended as
this will ensure that the shoe has become more effective and protective towards the users.

INNOVATION AND BUSINESS DEVELOPMENT3
Prototype 1:
This stage depicts design and implementation of a prototype in terms of biosensor specifically
for shoes. Self health status evaluation will become easier for the users with the help of this
software based sensor application. In this stage this biosensor will be designed that can be
integrated to the shoes. Most of the wearable sensors are generally designed and implemented for
healthcare monitoring. Thus, the software that is needed for storing the data related to the
patients is cloud storage. Cloud storage application has the potential to maintain better database
and also ensures that each data has the potential to enhance the performance. The major benefits
that will be offered with the help of cloud computing in the biosensor shoes is that it will reduce
the IT costs and will ensure that better flexibility are offered towards the shoes so that the data
can be stored efficiently. This will ensure that the data are tracked and recorded efficiently for
the purpose of determining the health conditions. The treatment can be enhanced with the help of
effective design.

INNOVATION AND BUSINESS DEVELOPMENT4
Prototype 2:
The second prototype that is selected for the purpose of enhancing the health conditions
are PVDF strips that will be designed with the help of piezoelectric sensors. The main aim
behind selecting this prototype is that it allows the user to have fast response time. This also
offers a better relaxation feature on the sensor. Thus it can be stated that with the help of bi-
directional bend sensors it will become easy to manage the health conditions. The shoe will be
designed with all the necessary technologies and sensor so that it can offer a better support
towards organizing the health conditions. Piezoelectric sensors are mainly used for the purpose
of determining the changes that takes place within the acceleration, strain and temperature. Thus

INNOVATION AND BUSINESS DEVELOPMENT5
the implementation of sensors will be able to enhance the way data are collected for the wearable
devices. The software that is used for the purpose of managing the health data and tracking the
user data are using RFID and GPS. With the help of GPS it will become easy to evaluate the
number of areas travelled by the users. The main aim of designing the prototype is to have a
clear knowledge about the health condition of the user.
Prototype 3:
The wearable sensor will be composes of a biosensor system, transducer and an output
system as well. Only with specific substance this biosensors will react or work. The outcomes
are generated through microprocessor application. This type of biosensors can also be considered
as either receptor or stimuli. With the help of this software users will be able to count their steps
and amount of burnt calories. Chip, antenna coil and substrate will be used to develop the
wearable shoes. Once the shoes will be wear process of communication will also become easier.
In other word, the sensor can display, substitute human biophysics performances, treat and
stimulates. Storage will be added to the software system to store needful dat. Infact, needful data
can also be fetched from the server while required using this system. This sensor chip can
display and monitor all body activities. The software would also be able to transfer results for