Technology, Growth, and Innovation in Business Management

Institutional Affiliation(S)
Managing
Technical
Business
Growth
Student Name
Reflective Paper
[Date]

P a g e | 1
Introduction
Technology, growth and innovation are often endured together as business
management concepts and presently there are multiple paths towards growth that has been
learnt by me during my course unit. Significant as well, I came to know that many companies
aspire to be at top positions that need sequence of initiatives trodden carefully. In fact, during
last few weeks, I found that major companies like BHP Billiton, IKEA, Apple, etc. mastered
significant business elements that made them grew faster in their own respective industry.
This forms an intuitive sense within me, combining my course materials to form a synergy
that can assist me in future years also. The most fascinating topic which I came through and
would like to explore in depth are global strategy, innovation and impacts of technology on
organisational development as I found that these business elements can make my growth
journey faster and in a structured way. While exploring my proposed topic in present
literature, I found that companies need more deliberate and stepwise approach that can
initiate growth and capabilities. Since I aspire to become an entrepreneur in future, the course
learning made me determined to find a correlation between best growth practices adopted by
contemporary organisations that will help me in managing technical business growth
effectively.
Global strategy
During last few decades, many barriers to global trade fell and waved corporations to
begin pursuing global strategies for gaining market competition. Nevertheless, few industries
like PepsiCo and Coca Cola benefitted more from globalisation than others do and few
nations have more comparative profits than other nations due to economic development seen.
Twarowska & Kako (2013) says that for creating global strategy, we must understand the
nature of global industries along with dynamics of competitive advantage. In past few days I
understood that companies go international due to variety of reasons but the basic goal
remains company’s growth or expansion. While I studied global strategy approach, I came
through an interesting article written by Durmaz & Ilhan (2015) where the authors suggest
that, “Growth strategies of businesses is a very wide area to study and apply” (p. 211).
Indeed, and since today’s businesses needs to grow constantly to survive, global strategies
must be chosen wisely and according to industry demands.

P a g e | 2
From my previous experience while working on a project, I learned that global
strategy management during projects is very important and although I am a student of
technology and innovation, it may actually save a lot of time and valuable resources for my
company. Now I feel more enlightened by knowing the significance of categorising
stakeholders and understanding how it affects my work directly which I never used to pay
attention earlier. For instance, during one of my projects, I ignored statutory regulations of
my company while formulating technical plan for manufacturing a product that was about to
be exported in other countries. I could have made the preliminary plans more efficiently and
saved a lot of time along with adding alternative development plans that could implement
global strategies effectively, if only I had known it previously.
Value creation cycle
Enabling long term value for stakeholders of the organisations is very critical as it
helps in explicitly establishing appropriate stakeholders value targeting. Though success
conditions of stakeholders may vary from the ultimate goal of stakeholders which means an
investor may seek value through higher price market of bonds and stock whereas a middle
level worker may seek value for getting better returns and job satisfaction from their job
( Manda, Bosch, & Worrell, 2015). Through external sources and unit learning I came to
know that value creation cycle is more science-based technique that aids in accessing
consumption along with potential environmental impacts that are associated with service or
product throughout whole life cycle, starting from extraction to manufacturing and end-of-life
by selling to end customers.
What I learnt from this value creation process is deeper than understanding salient
actors in my previous project management process. Ones who ignored value creation cycle
objectives, proved disastrous in longer run. Short-sightedness in value creation approach for a
global project is not enough and thus I believe from my own experience that a project
manager of any technology field must have enhanced stakeholder’s management techniques
also. During my project, our team had to face a dangerous situation regarding causing
environmental impacts due to release of poisonous gases that posed threaten to my company.
These stealth forces however, still remains challenging for me, but with seamless and
acquired knowledge of value creation process along with stakeholder management
techniques, I can create mutual benefit for both my company as well as for me.