Entrepreneurship And Innovation
21 Pages3299 Words83 Views
Added on 2021-05-31
Entrepreneurship And Innovation
Added on 2021-05-31
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Running head: INNOVATION AND ENTERPRISEInnovation and EnterpriseName of the StudentName of the UniversityAuthor note
1INNOVATION AND ENTERPRISEExecutive Summary The purpose of this paper is to present a business case of Nike which is a renownedmanufacturer of footwear. This paper discusses the business procedure of Nike; therefore itfollows a specific outline at the same time. This paper includes a brief discussion of theintroductory part of the particular topic and the business problem as a background of thebusiness case. This paper has also emphasized how the particular issue of having heavyweight shoes are affecting the athletes and increasing their rate of injuries which eventuallymade the company find a suitable solution and invent Lightning-Bolt Technology that makesthe shoes lightweight and improves the texture and quality at the same time. The associatedbenefits of the technology have been discussed in the paper and possible recommendations ofimproving the product has also been discussed in details.
2INNOVATION AND ENTERPRISETable of ContentsPart 1: Problem...........................................................................................................................2Part 1.1 Backgrounds of the problem.....................................................................................21.2 Definition of the problem.................................................................................................21.3 Evidence of the problem...................................................................................................31.4 Timing considerations......................................................................................................31.5 Consideration of the broader context...............................................................................3Part 2: Benefits...........................................................................................................................42.1 Benefits to be delivered....................................................................................................42.2 Importance of benefits to the government........................................................................42.3 Evidence of benefit delivery.............................................................................................52.4 Interdependence................................................................................................................5Part 3: Strategic response...........................................................................................................53.1 Method and criteria...........................................................................................................63.2 Strategic options analysis.................................................................................................63.3 Recommended strategic options.......................................................................................6Part 4: Project options analysis..................................................................................................64.1 Project options considered................................................................................................64.2 Stakeholder identification and consultation.....................................................................74.3 Social impacts...................................................................................................................74.4 Environmental impacts.....................................................................................................7
3INNOVATION AND ENTERPRISE4.5 Economic impacts............................................................................................................74.6 Overall evaluations of social economic and environmental impacts...............................74.7 Financial analysis.............................................................................................................84.8 Risk comparison...............................................................................................................84.9 Integrated analysis and options ranking...........................................................................9Part 5: Deliverability of recommended solution......................................................................105.1 Details of recommended solution...................................................................................105.2 Commercial and financial...............................................................................................105.3 Management...................................................................................................................105.4 Delivery..........................................................................................................................10References................................................................................................................................11Appendix A..............................................................................................................................13Appendix B:.............................................................................................................................14Appendix C:.............................................................................................................................14
4INNOVATION AND ENTERPRISEPart 1: ProblemPart 1.1 Backgrounds of the problemWhen the management of Nike surveyed among the runaways regarding theirexpectations out of the running shoes they stated that they want better questioning, betterenergy return and the shoes must be lightweight. Therefore the management of theorganisation has considered the results of the survey on a serious note and a new idea cameup to manufacturer shoes that would satisfy all the demands of the runners and with that thereshould be one more features to their shoes and that should be long lasting (Alderson, 2016).The management of Nike therefore emphasizes significantly on maintaining the quality oftheir products that they are manufacturing for the athletic purposes (Mahdi et al., 2015). Themanagement of Nike invented a technology that is widely accepted as LightningBoltTechnology that allows the shoes to be light weight in nature and the materials are soft andgive the most energy return to the individuals who wear them.1.2 Definition of the problemIt has been seen that the main problem that the runners or the others consider that theshoes or not lightweight and they do not give the most energy return. This may be only due tothe form that is used for manufacturing the shoes. In this regard it can be said that Nike's in-house chemists and the engineers worked as a team to test their ingredients so that they cancome up with a solution that can provide and satisfy all the demands of their target customersand in order to increase the quality of their products there according to their target customerbase (Rogers & Marres, 2016). The main problem in today’s world is that the organisationsfor manufacturing sports related equipments do not incorporate the exact requirements oftheir target customers; rather they only focus on their own profitability and there lies thedifference between other companies and Nike. The management of Nike has introduced the
5INNOVATION AND ENTERPRISElatest technology named LightningBolt that is used to deliver the finest of the shoes to thetarget customers.1.3 Evidence of the problemMany athletes and specially the Rugby players faced horrible injuries in their careerdue to the texture and the quality of their shoes while playing or training. In most cases thedemands of those athletes are not satisfied by the manufacturers of the equipments and that iswhere the management of Nike wants to emphasize and satisfy all the demands of the targetcustomer base so that they can earn huge reputation in their market of operation and also theycan experience a major boost in their productivity along with profitability (PAGE, 2017).1.4 Timing considerationsIt can be said that introducing any innovative concept within the existing products andmaterializing them is not an easy job. Therefore Nike management has considered testifyingthe efficiency of their latest technology. In order to do that, the management has incorporatedthis LightningBolt technology in the footwear of a group of Rugby players which are to beused for minimum of 2000 hours. While doing that, the management has utilized the bestpossible and most durable components that are capable of delivering the best possible energyreturn under any circumstances (Manshahia, Das & Alagirusamy, 2016). It can be said thatthis product is capable of beating any other existing product of Nike as well. 1.5 Consideration of the broader contextThere are quite a few manufacturing companies operating in the sports industry butnone of them focus specifically on satisfying the customers’ demands. The management ofNike tend to focus entirely on the demand of their customers which leads them to integratetheir latest technology. In the latest LightningBolt technology it has been seen that themanagement is focusing on improving the qualitative factors of the footwear and along with
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