Innovation and Business Development

This document discusses the concepts of innovation management and strategy for Bizteczec, a creative technology company in London. It explores the challenges faced by the company and proposes an innovation strategy using the 4Ps of Innovation Space Framework. The document also highlights the importance of innovation in gaining a competitive advantage and managing technological changes.

Running head: INNOVATION AND BUSINESS DEVELOPMENT
Innovation and Business Development
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INNOVATION AND BUSINESS DEVELOPMENT
Table of Contents
Innovation and Business Development........................................................................................................1
1. Introduction.........................................................................................................................................3
1.1 Innovation management.....................................................................................................................4
2. Innovation strategy for Bizteczec using the 4Ps of Innovation Space Framework...............................6
4. Conclusion.............................................................................................................................................10
References.................................................................................................................................................11

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1. Introduction
The topic introduces the concepts of innovation management considering the business
organization named Bizteczec in United Kingdom, which is a creative technology based
company in London with its specialized services focusing on mobile apps, gamification, web
development, UI and UX development and Internet of things solutions. There are clients from all
over UK and the number of employees is 35. The company has a good revenue generated last
year though due to its lack of growth, the revenue has fallen down to more than 10 percent,
which is not a good sign for a company like Biztecze4c in London, UK. The high level of
competition by other companies, lack of sufficient projects from clients and increased price
pressure from the new companies have made it difficult for the company to sustain I the
competitive business environment. The innovation strategy is an essential aspect that can make
the company regain its good position and succeed in the competitive marketplace of UK through
putting new ideas and concepts and focusing on strategic analysis, strategic selection and finally
implement effective strategies. The strategic analysis will start with the identification of
innovation space and then evaluate the areas where innovation shall be worth doing of to
determine the opportunities and threats that may arise in the future. The strategic selection will
ensure using the right skills, competencies and resources for ensuring smooth business
functioning. These are the vital aspects that are needed to be considered for managing situation
and address situations cautiously to improve the business functioning. I have been appointed as
the Innovation Director and thus my roles are to develop the innovation management plan for

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making Bizteczec achieve growth and attain competitive advantage in the next five years to
come.
1.1 Innovation management
According to Yoo (2013), the modularity concept has emerged as a successful approach to
deal with the issues related to complex systems. It has not only facilitated the innovation
procedure, but also has enabled the organizations to develop unique ideas and design complex
products and services by using various smaller sub systems and components. The information
system has acted as a great component of the theory of modularity that has influenced the
innovation management and also has brought positive changes to digitalization and created
innovation (Yoo 2013). With the advancement of technologies and communication, along with
mobile communications with embedded computer technologies, the businesses have gained
convergence, mobility and better Revenue scale. As stated by Volberda, Van Den Bosch and
Heij (2013), innovation is always considered as central component to the organization’s
competitive advantage and thus innovation research is the cornerstone of strategic management
that can influence technological innovation and strategies required to accomplish the business
goals with ease and efficiency (Volberda, Van Den Bosch and Heij 2013).
The innovation concept relies on new and innovative approaches that has provided better
conceptualization of innovation perspectives as well as centered upon issues related to
incremental and radical innovation. Other than the significance of technological innovation,
Dodgson et al. (2013) also suggested that developing more advanced and innovative products
and services, managing enhanced production process and technology along with marketing
techniques that are unique and innovative are integral to the success of a firm in UK. With the

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intense competition and accelerating technological changes, the non-technological innovation
management is also equally important for gaining better business performance and manage
administrative innovation, management innovation and organizational innovation, all at the same
time (Dodgson et al. 2013). This has often made the organizations susceptible to changes and
cope up with the technological changes, furthermore achieve longer lasting competitive
advantage and manage proper allocation of resources too. The management innovation
researches are also conducted for introducing changes in technologies and develop new ideas and
innovation concepts for reflecting the changes in the approaches management work has been
done along with the transformation of business structure to accomplish the specific tasks with
ease and effectiveness (Tidd and Bessant 2014).
There are multiple business organizations that are associated with the designing and
development of digital products such as the mobile apps, websites and web based applications,
which are primarily needed to build software and applications that have been user centered
interaction design and possess a scalable software design or architecture. But for a new and small
sized company like Bizteczec, it is difficult to compete within the business environment and thus
it will be necessary for continuously innovate the products and services with the use of 4Ps of
Innovation Space Framework to understand the actual product, process, position and paradigm
that has been followed (Martín-de Castro 2015). This will not only create good scopes and
opportunities for influencing the consumer buying behaviors, but will also ensure smooth
business functioning with the regaining of consistent company sales and achieve higher growth
and manage better revenue generation too.

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Innovation management is an important concept that facilitates improvement of products and
services and also enables maintaining a proper product design, process, position and paradigm
for ensuring analysis of existing services and at the same time, improve the skills, expertise and
knowledge to stay ahead of competitors within the industry (Bowers and Khorakian 2014). The
mobile applications development and building websites are critical to the success of the
organization along with enabling innovation to integrate the client’s software and hardware
components within the new web application and handling large sized projects with much ease
and efficiency. It is always important for facilitating innovation and make sure that the human
resources are managed wisely, which are integral to the success of the organization (Goffin and
Mitchell 2016). The programmers of the organization specialized in the development of web
applications and websites are associated with the development of responsive and fast loading
software application to ensure supply of business with a desktop enterprise app, web XML
services, etc.
2. Innovation strategy for Bizteczec using the 4Ps of Innovation Space Framework
The innovation space framework is used to determine how innovation will be possible ad the
improvement of products, processes, position and paradigm can be done by focusing on the
major areas of business. The Innovation Space framework can also help in supporting the
generation of ideas and concepts, furthermore create new ideas, theories and concepts for
ensuring successful business functioning and innovation management all throughout. The first
step is paradigm, which allows for improving the way business is done and thus change is
radical, because of which, changes are evitable and inconsistent sometimes (Westland 2016).
The manager of the organization with proper support from the employees has managed to make

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possible changes for leveraging the best of profit, furthermore increment some major changes in
the business model and made sure to deliver the new and innovative product named PharmApp
in the right market segments for easy access by clients (Du and Tang 2014). The paradigm
component of the Innovation Space Framework facilitates innovation within the organization,
which is essential for improving its way of doing business. The changes should though be
radical, considering the fact that not every changes can be positive. The changes should be done
innovatively to support the quality standards and at the same time, cater to the needs of people
easily. One of the major innovative paradigm lies in the fact that a new kind of app has been
developed, PharmApp which can allow many pharmaceutical businesses to flourish by keeping
work ongoing and remaining connected with the workplace offline. The e-commerce platform is
another aspect that has changed the way the brand exposure was done existing. There has been a
huge transformation that shows how the selling of limited products with great features are made
available online and the same has happened for Bizteczec, UK.
The product is essentially the component that the business needs to deliver to its clients
for managing innovation and at the same time, present something appealing that has the ability to
influence the consumers’ buying behaviors. There are multiple suggestions showing that the
innovation manage is essential for improving the performance of the product as well as include
various new components or even introduce an entirely new product through management of
incremental change. This will make the innovation management enhance the product efficiency
and create some unique features so that it can be different from others and thus shall appeal
clients much easily (West and Bogers 2014). The innovative product here is PharmApp, which is
a software system for the sales branch of international pharmaceutical companies all over UK.

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The major tasks accomplished by the app include exchanging the Excel files of each medical rep
to be fulfilled during the visits made by clients at the pharmacies. The necessary pharmaceutical
companies’ data and information are to be stored with the use of mobile phones easily and clear
statistics will be provided related to the product sales and performance of contract associated
with the company’s management in online mode. The software application has been developed
to manage stable work offline during situations where there could be internet connectivity issues
and poor automated synchronization of data within the system (Fernández-Mesa et al. 2013). The
clients are considered as major stakeholders in business and the software application creates
enhanced scopes for creating an entirely functional software with an effective user interface that
can meet the requirements of clients and manage automation of routine processes for managing
functionality of data and information too (Spieth, Schneckenberg and Ricart 2014). Another
innovative approach is the use of e-commerce platform to create better brand exposure and draw
more clients to make purchases form Bizteczec, UK. The e-commerce platform could enhance
the brand exposure and create interest among the other pharmaceutical companies to check out
the product offered by BizTech and manage smooth business functioning. It is clear that the
business has mainly targeted the medical companies and stores to use this app for creating ease
of managing records of clients and keep them connected by providing information about new
products and services.
The processes include the management of a new e-commerce platform to create more
sales and generate awareness among clients regarding the kinds of products and services offered
to them. This will also make them know about the new app that has been made available by the
company for them, especially the pharmaceutical companies. The supply chain management

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operations along with the recruitment and selection of new employees and training them further
should help in enhancing the business performance and gain the ability to attract more clients
with higher revenue generation (Laursen and Foss 2014). The processes also include managing
the human resources, i.e., hiring responsible candidates for the roles of coders to create the app
and at the same time, market the products in different distribution channels. The training and
developmental sessions should be arranged for improving the skills, knowledge and
competencies of individuals and improve the credibility and functionality of the product that is
being newly launched into the market.
The position means the places where the new products will be available and how the
offerings will be targeted. The pharmaceutical companies are mainly targeted while the local
medical stores could also use the app to keep data secured and managed wisely, furthermore
attract the local suppliers and medical store owners to use the app. The employees are to be
trained and provided with the right wages along with non-monetary benefits for influencing them
to perform their best and commit themselves fully to the achievement of business goals and
objectives (Anderson 2013).
3. New innovation strategy with the implementation of NPD
Based on the new innovation strategy adopted by Bizteczec, the implementation is based
on the concept of New Product development. The new product development or NPD enables
management of processes associated with the introduction of a new product named PharmApp
by Bizteczec. The major aspect of the NPD is the designing of product, which can transform the
market scopes and opportunities (Coenen and Kok 2014). The product is an app and thus it is
considered as intangible and thus for the designing of the product, proper consideration of

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clients’ needs and preferences is essential along with the evaluation of market conditions,
competitive business environment, nature of market, etc (Alsanad and Abdel-Razek 2016). The
cost, quality and time are the three major components that drive clients’ needs, which enables the
company to conduct continuous practices and strategies for ensuring higher level 0f customer
satisfaction and increase market share. The process structuring includes breaking down the
process into several phases such as the fuzzy front end, product design, product implementation
and fuzzy back end. The NPD also enables implementing a new product strategy where
innovators can have knowledge on the clearly defined goals and objectives for the new product
and at the same time, generate ideas through collective brainstorming sessions through
management of internal and external sources (Akgun et al. 2017). The screening is done and
testing facilitates the structuring of ideas into a detailed concept for checking whether the new
and innovative product can meet clients’ needs or not. The market testing should enable testing
the market conditions and ensure utilization of right marketing approaches for attracting more
clients while the commercialization and brand management would be managed with the
maintenance of an e-commerce platform to raise awareness among clients about the new product
developed by Bizteczec (Homburg and Kuehnl 2014).
The NPD process should allow the company to identify the market related scopes and
opportunities and diversify itself in the changing business environment. It is important for the
survival and growth of the business and to achieve competencies that are responsible for
introducing new products and making those sustain in the market. There are various phases that
are aimed at achieving innovation such as ideation, developing the concepts, design the product,
test and finally launch. The open innovation concept of NPD has allowed to manage co-creation

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of clients and made them engaged all throughout the generation and evaluation of the new ideas
for products and at the same time, maintained informal network with other pharmaceutical
businesses to obtain outside knowledge and information. Such has been the case for Bizteczec
where there has been the development of a tailor made e-commerce platform for enhancing the
marketing efficiency and raise brand perception and awareness among the clients. The newest
and innovative product is the software solution developed by Bizteczec for the purpose of
supporting the international pharmaceutical organizations (Gmelin and Seuring 2014). It is
known as PharmApp and the project consists of an android app, which can create convenience
and ease for the in-field med sales work and at the same time, act as a vital web based
application for the middle and top level management of various pharmaceutical products and
services available. The new software solution will allow the clients to open the apps on their
smart phones and gain access to the product related information and SKU details too such as the
availability of stocks, sales volumes, fact analysis and prices set for the product made available
by Bizteczec, United Kingdom (Chang and Taylor 2016). These major components are
integrated in a single system through management of synchronization of data along with helping
the organizational employees to use various tools and techniques required to manage the sales,
analysis and planning.
4. Conclusion
Bizteczec’s innovation management lies in the fact that the application that would be
developed could deliver the right messages and information, i.e., from the inception of brand to
the targeting of market end users for influencing their buying behaviors. The open innovation
also managed the purposive utilization of inflow and out flow of knowledge and skills for

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enhancing the speed of organizational innovation and developing relationships with the external
agents for gaining access to the competencies and improve the organization’s ability to achieve
innovative performance. This could also benefit the business through delivery of innovative
products and services that have fulfilled the needs and preferences of clients and generated
higher sales revenue too with influence of consumers’ buying behaviors. The new product
development innovation aspect was facilitated with the Innovation Space framework for ensuring
that the new software application named PharmApp could gain awareness among the clients and
pharmaceutical companies. The use of e-commerce platform by Bizteczec should further
improve the marketing skills and competencies and allow for achieving the business goals and
objectives with ease and efficiency.

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References
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MARKETING INNOVATIONS: A NEW THEORETICAL PROTOTYPE FOR 4PS OF
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Alsanad, D.S. and Abdel-Razek, R., 2016. Mapping technological innovation: methodology and
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Anderson, T.D., 2013. The 4Ps of Innovation Culture: Conceptions of Creatively Engaging with
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Bowers, J. and Khorakian, A., 2014. Integrating risk management in the innovation project.
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Chang, W. and Taylor, S.A., 2016. The effectiveness of customer participation in new product
development: A meta-analysis. Journal of Marketing, 80(1), pp.47-64.
Coenen, M. and Kok, R.A., 2014. Workplace flexibility and new product development
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Dodgson, M., Gann, D.M. and Phillips, N. eds., 2013. The Oxford handbook of innovation
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Du, Y. and Tang, Y., 2014. Study on the Development of O2O E-commerce Platform of China
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Fernández-Mesa, A., Alegre-Vidal, J., Chiva-Gómez, R. and Gutiérrez-Gracia, A., 2013. Design
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