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Innovation and Business Development : Doc

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Added on  2021/05/31

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This report is on "organizational development". This report explains innovation is important for organizational development. It assists in developing the market focus is on the development of the Fx Smart Mirror used by Shine Beauty New idea Fx Smart Mirror can be used as a smartphone. The customers can identify the cosmetics that suit them and apply the cosmetics after choosing from a variety of items. The business model used the market problem dissatisfaction among the older generation too large and expensive lack of talented and efficient resources. For a better understanding of the report, you can also check the Shine Beauty marketing of cosmetic brand.

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INNOVATION AND
BUSINESS DEVELOPMENT

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Introduction
Innovation is important for organisational
development
It assists in developing the market
Focus is on the development of Fx Smart
Mirror used by Shine Beauty
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New idea
Fx Smart Mirror can be used like a
smart phone
The customers can identify the
cosmetics that suit them and apply the
cosmetics after choosing from a variety of
items
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Business model used
Key Partners
Investors
Advertisers
Key Activities
Purchase of raw materials
Consumer service through
the identification of the
needs of the customers
Value Propositions
Competitive pricing
Various choice of
cosmetics
Broad range of promotions
to attain customer
attention
Consumer Relationships
Identification and the
segmentation of the
customers
Consumer satisfaction
Personalisation
Key Resources
Brand
Ensuring product
availability in the market
Channels
Websites
Consumer Segments
Massive market for
fashionable people
Beauty salons
Households
Cost Structures
Purchase of artificial intelligence
Advertising and marketing
Salaries
Revenue Streams
Contribution from the customers
Promotion of the product

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The market problem
Dissatisfaction among the older generation
Too large and expensive
Lack of talented and efficient resources
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Benefits
Increase customer visit to the physical
stores
Meet the needs and demands of the younger
generation
Identify the capabilities of Shine Beauty
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Strategic response
Strength
Smart and innovative product
Assists in choosing the varieties of cosmetics
Weakness
Larger size
Financial instability
Opportunity
Provide scope of conducting effective make-up
Can become a household application in the
future
Threat
Threat from the competitors
Lack of ability to convince the old school
customers

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Option analysis of the project
Project option 1: Do Nothing Project option 2: Do Nothing
Analysis Period (years) Year 1 Year 2
Capital Costs ($m) $0 $0
Output Costs ($m) $100 $100
Present Value of Benefits ($m) $50 $80
Present Value of Costs ($m) $45 $90
Benefit Cost Ratio 3:2 4:5
Net Present Value ($m) $78 $100
Intangible costs / benefits (e.g. small, med., large) $10 $10
Distributional impacts (e.g. small, med., large) $40 $60

Preferred option
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Bibliography
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