Importance of Innovation in Business Management

This report emphasizes the importance of innovation in business management. Without technical support, any industry cannot function. To meet customers' expectations and needs, the use of technology during manufacturing is essential. The assignment provides examples from mobile industries, digital markets, broadcast media, and Virgin Mobile to illustrate the effective use of technology.

Managing innovation in
business

EXECUTIVE SUMMARY
Innovation is the method of translating of ideas and plans into goods and services. It is
the initial stage of product producing in the market. Without innovation, business cannot get
success. It is the practical result of theory plan, which is profitable for organization. Technology
is a supporter of innovation. It takes place via production of more effective services and goods,
processes, and technologies. It is a significant model for originality and effectiveness.
Virgin Mobile is an electronic medium. It provides low cost handsets compared to its
competitors. It produces HD TV channels, mobile phones, products packages etc. Mobile
industry launches different products with unique technologies. Its strengths are low cost
products, the newest technologies, advanced technical products etc. Virgin mobile is a United
Kingdom company, which provides less expensive smartphones and broadcast services.
This report is about organization’s innovation conditions of 2016. In this year, it produces
new app phones like video calls, snap chats etc. Virgin media is the biggest organization in the
electronic world and its technologies are good to competitor. Organization produces the newest
technological phones and beat competitors.
Virgin mobile is latest and less expensive communication smartphone. It uses the newest
technologies to meet users’ requirements and satisfied them. With the help of technical support,
this organization can produce good and advanced products and services.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
a) Industry Overview...................................................................................................................1
b) Organization existing Innovation Performance and Capabilities...........................................2
c) Industry in 2016......................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Innovation is the process of translating an idea and invention into products and services
that makes value. In organization, innovation is the result of idea applied by business in order to
satisfy customers future needs and expectations (Biemans, 2018). It includes producing goods
and services, business models or improved methods for manufacturing products and services.
Virgin Media is in the electronics sector of United Kingdom. It provides smartphones, television,
land lines etc. Firstly, report will discuss about this organization and industry’s overview. Later,
it will explain about existing innovation performance and capabilities of an organization. Lastly,
it will describe industry’s position in 2016. The main objectives of this report is shown success
or innovative factors of a growing organization Which is Virgin Media. It is a more effective
industry of electronic sector.
MAIN BODY
a) Industry Overview
The mobile industry includes cell phones and handset manufacturing for their segments incomes.
Mobile industry is one of the world’s largest market areas. The objectives of this industry
provide instant information between people. With technologies' innovation, different phones are
available in the market. Smartphones is the biggest research result of this industry. Apple Inc,
Samsung, Google, Virgin etc are few names of the mobile world.
The Organization and its Innovation History-
Virgin Media Limited is organization of United Kingdom, which provides cell phones,
television and internet connection. It is not a part of Virgin Mobile company. It was formed in
March 2006. In the same year, company purchased Virgin Mobile and offered television,
internet, cell phones and land-line telephone services (Dodgson, 2018). Virgin Media operates
own fibre-optic network services in the home country. It is not available everywhere. In the end
of 2006, it had become the first provider of United Kingdom to offer land-line phones, mobile
services and television and broadband services. It competes primarily in broadband services with
Talk Talk and BT Group and in mobile with Vodafone, EE etc. Its origins depend on Telewest
and NTL and after some time they merged. NTL adopt the name 'Virgin' after its merger with
Telewest and after few months, Telewest announced it would like to change its name again and
final name is 'Virgin Media Inc.' It is continuously make planing to capture more market sector

and this plan is also come with unlimited downloads, 9 months’ contract plan for students,
browse without any network problems etc.
Innovation History- Virgin Media is one of the well-known organizations; it is the largest
businessin the world and it is not only for its quintessentially UK product what it takes to win the
customers hearts and mind, but it is a sub brand of compelling companies (Rees and Smith,
2017). It is one of the biggest telecommunications and media organizations of British.
Some innovation of Virgin media is below-
 Virgin Media Television- With the innovation of Virgin media, its options galore. Main
packages of Virgin TV are TV Player (75+ channels), Mix TV, House TV (250+
channels). They all are not much expensive channels packages as compare to other. This
TV channel is the biggest innovation of TV media. We can get at least 15 HD TV
channels anywhere to watch favourite programs. It available in market with different
channels packages in HD which more demanding thing among viewers.
 Virgin Media home phone- It comes with few different phone packages to select from,
such as talk weekends, more weekend talks, evenings and weekend’s talks and
international talks anytime, landlines and cell phones and users can choose the bigget talk
packages for them. Per call rate is very cheap and affordable for customers. It produces
home or office land lines phones at minimum price.
Virgin Media Big Bundles- As a 'Quad-Play' provider, it offers the entire shebang- and it is easy
to get entire shebang with their Big Bundles. They all are called as Mix Player, VIP and Full
house bundle and all they include optic fiber broadband, land line phones, television and with
mobile phone SIM for a reduced price too (Schaltegger and Wagner 2017). All services group
bundle is a great way to save money. It is a good offer for customers to get the best services at
low cost.
 Virgin Mobile- Virgin Mobile offers the best phone plans according to customers’ needs.
There is a monthly pay, SIM only, broadband plans and a good range of smart phone sets.
Virgin Media users can get better price on mobile deals too. It provides the fastest 4G
network at lowest price packages.

b) Organization existing Innovation Performance and Capabilities
Technology has an impact on the world. Virgin Media wants to help people to get the
very best from it. Industry adopts technologies to increase their performance and get the best
results. Virgin Media is an electronic organization who use technology to produce most useful
goods and services (Jansen, 2017).
To increase innovation and performance of an organization, it should hire skilled and
technical employees. The newest technologies helpful to perform best products. Talented worker
utilized the available resources in production and provide the latest products. In mobile industry,
an organization must carry large technical man-power, the newest tools and equipment’s. Virgin
Mobile produces smartphones and tablets with the help of technologies.
The skilled technical engineers launched smart mobile services and produced phones
with different mobile applications that made our lives easy. Video call, chatting, digital
messaging, snap chat etc. are examples of innovation performance for an organization. Mobile
users want long life battery phones, the best camera quality, current applications and network
supporter phones. Virgin media's skilled technicians provide all these advance fractures (Snihur
and Tarzijan, 2018). Inspired by phone success, it launched Virgin television, home land lines
facilities with current technologies. iPhone, Samsung, google are competitors to this
organization. They also use the world’s best technologies and also satisfied users expectations.
Virgin smartphones is focused on plans including new phones and this provides the best
offers. Its prices for handsets is quite cheaper than competitors but technologies level is same.
Prepaid plans are far less exciting and comfortably outplayed by smaller telecommunications. To
increase innovation performance, an organization’s contract plans with new smartphones and
SIM data. Organization continuously try to maintain its performance or offer a unique plan like
mobile data usage gifting, roll-over and both are worth including in any plan. Innovation
performance in industry improves customers’ services, sales and product delivery (Lind, 2017).
Organization conducts training and performance improvement activities for employees. The
positive impact of performance is having in virgin media is already shining. Industry uses current
technologies and provides traditional technical coaching to workers and continuously produces
the latest products for users’ satisfaction.
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Capabilities- Virgin mobile is an innovative and latest technical phone. It uses current
technologies in its products and services. Few capabilities of this organization are mentioned
below-
 Global services' provider- Virgin mobile is a global phone service provider at large
scale. It uses the newest technologies and provide smartmobiles at lowest cost compare to
competitors. Apple, Samsung etc. are its competitors and they provide same features at
high cost, which is not affordable by everyone.
 Spread operations across countries- Virgin mobile is one of the largest industry in the
world. It has its sub-companies across the world. It is the positive factor of organization.
It has huge number of users and provide services at global level. France, United State,
South Africa etc. are its host countries
 Service centres- Organization has good service centres in every host country. Website
have all good features like paying bills, recharge (phone, TV channels) customer care
service etc. This centres provide 24*7 hours services and available for customers help.
Organization website update with time, if consumers have any complaints against
products then they can directly talk to customer’s executive.
 Call rate- Virgin media/ mobile provides cheap calls and data usage rate. This kind of
offers attract users and make profit for organization. It launches low prices handsets with
the latest technologies (Cohendet, Parmentier and Simon, 2017). This schemes low call
rate plus handset is a good offer for buyers.
 Strong partnership- Virgin mobile has a strong partnership support. It has partnership
with world’s leading telecommunication companies like Sprint, Tata telecom etc. This
partnership provides it a healthy financial support and customers attract towards it.
 Latest and low cost technologies- Organization have skilled and expert technologists
man-power. They produce the latest technical phone handsets at low cost. It provides the
best offers to user and spread business over the world.
 Branding and visibility- Organization have product branding and visibility with new
market competitors. New entrants are the biggest challenge for organization and it has to
maintain market image.
Organization's large market and huge number of users are its strengths, which gives inspiration
to produce the best products and services. It is not easy to manufacture new products at low
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price. Virgin mobile organization also aims to stand out among the competitors with low prices
data allowances each month.
c) Industry in 2016
Virgin Media Organization launched its search for the most innovative company through
competition- VOOM 2016. It provides a golden chance to propel business onto a global platform
and fast track way to an organization’s success (Dodgson, 2017). The widespread innovation of
smartphones and tablets with the resulting growth of mobile industry has been appreciated.
iPhone was the greatest mobile story and its sales figures surpassing Apple's previous products.
More recently , Android devices have taken over iOS, with a good market share.
Growth of mobile industry have created many opportunities for business owners, its start-up
must be contending with technologies, users taste, corporate business plans of major market
players like Apple, Google and Samsung.
Ontario-based venture funds invest their money in mobile innovation -
 Extreme Ventures Partners: It offers observing as well as external ventures connection
in fund investment.
 Golden Venture Partners: it works with industry’s start-ups for initial funding. They
are helping during the initial stage to plan strategic vision, hire skilled employees and
make sales strategies.
CWTA represents cellular, messaging, Phone radio, video calls etc. as well as vendors support
the mobile industry. It includes net packages on phones, broadband subscriptions, voice chat etc.
shows the growth of mobile industry at worldwide level. According to market survey, growth of
phone devices is more than compare to other digital devices. Smartphones innovation has
changed the method of internet network use and digital world. In 2016, wireless Industry
partnership aims to connect stakeholders in the mobile industry (Rubin and Abramson, 2018).
4G network is one of the surprising innovation for smartphones. It is the fastest network services
compared to 2G and 3G and mobile industry changed their life style.
For years’, smartphones proprietorship has been on a rise with large percentage of adults
owning at least one latest technical smartphone and spending maximum hours of a day with
electronic media. People daily routine life changed after the introduction of 4G technology and
mobile data usage.
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Mobile sector continuously works on new technologies' innovation and introduces the
latest phone handset. The newest mobile business daily publishes news on phone industry,
games, data usage, social status network etc. to encourage the industry (Midler, Jullien and Lung,
2017).
Competition in the market was quiet highest; each one wanted to become the market
king. In this year, mobile future is a coalition of companies and non-profit organizations
dedicated to informing people by relevant news of phone industry. The objectives of mobile
market are straightforward- to increase brand awareness, generate consumers’ profile, improve
customers’ loyalty and earn more profit.
Tidd and Bessant innovation process model- An organization apply implementation to
introduce their products in innovative way. Innovation in today's is the most important for
gaining the competitive advantage.
1. Search- In this step firstly search on innovation opportunities. Why innovation is
necessary. Let's take an example if Virgin Media want to present its products in different
way, first of all research team will conduct the analysis in order to identify the need of
innovation in goods and services.
2. Select- In the next step innovator select the requirement and area of innovation. Where
and how they can apply innovation opportunities.
3. Implement- Implementation is the that step in which innovator implement their research
in selected area. New technical products of Virgin Media are the example of
implementation.
4. Capture- In this last step benefits of all above three steps come out. It may be in
monetary or non-monetary.
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Illustration 1: Tidd and Bessant innovation process
model.
Source: ([Tidd and Bessant innovation process model.
2013)

Innovation audit- It is a method to understand how an organization can manage
innovation in effective way. It today reveals the latest technologies expected to make innovation
in 2017. Immersive virtual reality, bionic headphones, long life battery, voice control devices
feature in Virgin 'Tech Predictions' in 2017. After internal or external audit, it comes to know
that it requires some innovative changes.
Changes in industry from 2016 to 2018- In 2016 its increase 39% annual result in United
Kingdom. 40% more broadband connection in UK. It produces normal handsets, battery life,
casual headphones, which are less profitable compare to other but in 2018 in use latest
techniques or start produce more advanced products and services. It is more profitable or
productive as per company perspective.
Comparison between telecommunication industry or Virgin Media-
Telecommunication- This industry offers less calling rate. It also provides HD channels,
broadband connection or handling complaints. Its data should incentive providers to improve
their quality and reduce problems.
Virgin Media- It continuously produce innovative products and services. It offers HD channels
packages at minimum cost. It always tries to satisfied its customers with effective service. It
provides high rang broadband service across the world.
CONCLUSION
Above report explained the importance of technologies innovation in business
management. Without technical support any industry cannot work. To complete customers’
expectations and needs, use of technology during manufacturing is a must. With the help of
technical support, organization produces good and advanced products and services.
Electronic media is the best example of technology. It can't be function without technical
support. Mobile industries, digital market, broadcast medium like radio, television all are the
biggest technology users in market segments. Virgin mobile is latest and less expensive
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communication smartphone. It used the newest technologies to meet users’ requirements and
satisfied everyone.
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REFERENCES
Books and Journals
Biemans, W., 2018. Managing innovation within networks. Routledge.
Cohendet, P., Parmentier, G. and Simon, L., 2017. 13. Managing knowledge, creativity and
innovation. The Elgar Companion to Innovation and Knowledge Creation, p.197.
Dodgson, M., 2017. Innovation Management: A Research Overview. Routledge.
Dodgson, M., 2018. Technological collaboration in industry: strategy, policy and
internationalization in innovation. Routledge.
Jansen, W., 2017. New business models for the knowledge economy. Routledge.
Lind, J., 2017. The role of accounting for managing innovation processes when relationships
matter. IMP Journal, 11(1), pp.7-24.
Midler, C., Jullien, B. and Lung, Y., 2017. Rethinking Innovation and Design for Emerging
Markets: Inside the Renault Kwid Project. Auerbach Publications.
Rees, G. and Smith, P. eds., 2017. Strategic human resource management: An international
perspective. Sage.
Rubin, G.D. and Abramson, R.G., 2018. Creating Value through Incremental Innovation:
Managing Culture, Structure, and Process. Radiology, 288(2), pp.330-340.
Schaltegger, S. and Wagner, M., 2017. Managing the business case for sustainability: The
integration of social, environmental and economic performance. Routledge.
Online
Tidd and Bessant innovation process model. 2013.[Online].Assessed through:
<http://eprints.uwe.ac.uk/12488/2/Innovation_and_dynamic_capability_08-01-09.pdf>
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