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Managing Innovation in Business PDF

   

Added on  2020-10-05

13 Pages3473 Words328 Views
MANAGINGINNOVATION INBUSINESS

EXECUTIVE SUMMARYThis report will going to discuss about managing innovation within organisation whichsimply means developing innovation strategy for proper management of business. Respectiveassignment is base on Vodafone which is telecommunication industry company founded in 1982and its headquarter is in United Kingdom. In 1993 Vodafone was an open the 380 stores withinseveral locations. Vodafone has introduced the highest 3 G network as well as in 2018 respectiveorganisation is working on 5G network services which will be offered at worldwide forproviding easy connectivity to people. Along with this, they are offering Fixed line telephone,Mobile Phone, Broadband, digital television, Internet television and IPTV at global level. Thisassignment discussed that, innovation is necessary for company working withintelecommunication industry because of its emerging market area. The same sector will bringseveral innovation in the market for providing better telecom services to customers and makethem satisfy. Along with this, Vodafone will introduce 5G network as well as In-flight networkconnectivity which will be beneficial in providing services to customers in easy manner. Inaddition to this, road map of innovation has been designed for bringing In-Flight connectivitywithin market. It is necessary because with the assistance of it overall process of innovation willbe examine in effective manner.

Table of ContentsINTRODUCTION ..........................................................................................................................1THE FUTURE OF INDUSTRY 2020 AND BEYOND.................................................................1THE ORGANISATION INNOVATION REQIREMENTS 2020 AND BEYOND.......................2BUILDING THE FUTURE INNOVATION CAPABILITIES FOR THE ORGANISATION......4CONCLUSION................................................................................................................................7REFRENCES...................................................................................................................................9.......................................................................................................................................................10

INTRODUCTION Innovation is the procedure of evaluating new ideas in business as well asimplementation of thoughts for accomplishing success (Schaltegger, Lüdeke-Freund and Hansen,2016). It is necessary for an company to manage their innovation within market in proper mannerfor generating revenue and taking better place in competitive business environment. Moreover,for a company it is important to bring something innovative in relation to products and servicesfor customer satisfaction or gaining better place in market. Managing innovation refers toproduct, business process and organisational innovation. This report is based on Vodafone islargest organisation of telecommunication industry and serving their services at worldwide level.It was established in 1982 as well as headquarter at United Kingdom. Products offering byrespective organisation are Fixed line telephone, Mobile Phone, Broadband, digital television,Internet television and IPTV. This report is going to discuss future of telecommunicationindustry in 2020 and beyond. Along with this requirement of innovation of innovation forVodafone in or beyond 2020. in the end, future innovation capabilities for Vodafonetelecommunication industry organisation will build. THE FUTURE OF INDUSTRY 2020 AND BEYONDTelecommunication sector trends by 2020 and beyond for last 20 years, there iscontinuous technical transformation and information waves result in growth within telecomindustry. Although, an age with saturated telecom penetration is coming and respective industryis facing several new situations (Looking at Telecom industry trends by 2020 and beyond, 2019).There are 5 disturbance which will drive most of the changes in telecommunication sector likeIntegration with content service providers, IoT which impact is explosion of connected devices,mobility, market saturation and Security. Apart from this there are several factors which result ingrowth of telecommunication industry in the future explanation of these are as follows :- Ongoing regulation for telecommunication industry – This industry is going throughvarious regulation challenges because of competitive business environment. In someprevious year, European Union has dropped down their all roaming charges which resultin significant pitfalls for telecommunication industry (Morabito, 2015). Such trends inregulations will continue in the upcoming years as well. The hottest topic, circling aroundmedia nowadays is the GDPR regulation. According to critics, making your telecom1

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