Innovation Management and Product Development

This assignment provides a comprehensive overview of innovation management and product development in businesses. It discusses the importance of taking measurable actions to implement successful innovative products. The assignment references several books, journals, and online articles that provide insights into business model roadmapping, dynamic capabilities, and organizational agility. It also touches on the impact of Horizon 2020 on innovation in Europe and the role of innovation-focused roadmaps for sustainable global industries.

Managing Innovation
In Business

Executive Summary
This report is summarised as the continual part of project one that was presented in last
semester, it was mainly based on innovation and its importance in the growth of the Apple. It has
also included various innovation history and future capabilities with the help of industrial
evaluation. Whereas, the second part of this project is about the role of innovation in the growth
of company and its contribution in success. This talks about Apple, a multinational company
provides technology based products and services to its customers. The company is availing
highly innovative products to its customers maintain its sustainability at marketplace.
This report includes a deep analysis over innovational practices that are expected to be
experienced in near future by 2020 and beyond. It has been found from analysis that new
innovations are continuously anticipating by rivals which are attracting customer and influencing
them to pay any cost for adding innovation as a part of their life. This has created opportunity for
Apple to bring more innovation which easily get adopted in market place. There are many
innovations which are expected to be launched by Apple like Smart connector, Foldable iPhone,
Hologram TV, Apple AR smart glass and many more. It has been recommended to Apple to
introduce Foldable iPhone as this product will be highly demanded by customers and easily get
accepted at marketplace. So, it has been found from this project that Apple must use road map
for implementing the innovational plan effectively.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................1
Future of Industry 2020 and beyond......................................................................................1
Organisations innovation requirements 2020 and Beyond.....................................................2
Building the future innovation capabilities for the organisation............................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is the process of introducing a new product, service, practice or method or
adding more features in existing procedures which can meet the demands and preferences of
customers (Rothaermel, 2015).
Apple Inc. is multinational company which is mainly focusing on delivering high
technology products to customer. The company is headquartered in Cupertino, California in 1976
and founded by Steve Jobs, Steve Wozniak and Ronald Wayne. Apple is provide both hardware
and software based products to its customers across the world. In past few years, it is being
found that Apple has kept its focus on offering innovative products and services to its customers
to reach at new level. The main purpose of this report is about identification of future
innovation opportunities that are available for Apple within the electronic industry to gain
competitive advantages in market.
This report will cover suitable organisational innovation requirements till 2020 and
beyond. Also, includes future of Industry and building the future innovation capabilities of the
organisation to grab the market opportunities.
Future of Industry 2020 and beyond
Consumer electronic is very vast industry which is mainly focusing on delivering
advanced technological products and services to its customers. The sector includes computers,
mobile phone, digital cameras, wearable electronic devices, smart televisions, TVs and many
other products which are considered as an important part of consumers lifestyles (Bogue, 2014).
These products are highly surrounded with advance technology and different types of innovation
which contributes in growth of industry at global level.
This industry is very dense in nature and deals with huge competition every single day as
organisations belongs to this industry tries to produce new product with innovative features . It
has been analysed that the main key players within consumer electronic industry that are served
their best from many years includes Samsung electronics, Sony corporation, HP Inc, Panasonic,
LG etc. The main aim while they are working is about strongly focus on on research and
development activities for introducing new product with innovative features to grab attention of
customers. It can be said that involvement of technology within this industry is considered as
influential factor that directly contributes in the growth of consumer electronic segment.
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Continuous innovation have enhanced expectation of customers and also motivates key
players to introduce something better every time. The immense support of the different
organisations in consumer electronic sector should be determined and understand from the
different examples defined below:
Samsung has presently introduced Galaxy A7 which owns the 3 cameras within the
mobile phone which is made-up of three different kind of lenses. It has been identified that is
first company who have introduced mobile phone with this feature. On the other hand,
Panasonic corporation is planning to launch a mirror less camera. It is a part of LUMIX S series
which will be world's first camera that can zoom an image with F1.7 Aperture (Panasonic
Develops Two Models of Its First Full-Frame Mirrorless Camera, 2018). This camera is going to
provide better experience to the professionals. The company has developed a new culture of
photography and videography for its customers along with that this technology is highly
influential in respect of the mobile phones to bring unexpected changes in the camera quality.
As per above specified examples of key players belongs to consumer electronic industry,
it has been concluded that future growth of this industry is very broad as its every new
innovation is improving lifestyle of individuals by the way of performing the activities and
actions in more simplified manner. Introduction and innovation in cameras like providence of
Mirror less and high resolution help to open up options for the consumer electronic industry to
persuade the buying behaviour of consumers to pay higher amount of price for getting the best
technology available in market (Anthonisz, 2014). As a result, it will be beneficial for the
industry to get higher monetary returns. Along with this, it has been observed that innovation in
consumer electronic industry is also beneficial for Apple because customers of this company are
now habitual of accepting products with innovative and are ready to pay higher prices for using
it.
Apart from different companies, Apple is also moving to Artificial Intelligence. It is
going to launch different techniques in which AI is going to use in future or beyond 2020. The
company has launched three different Iphone such as X, 8 and 8 plus. The company has
launched these three phone with A12 chip which is totally based on artificial intelligence
(Product launched by Apple. 2018). There is a neural network software behind there which is
helpful in understanding of speech and images. These products will help the company in
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increasing its market share. Apart from that the industry has also moved further in innovative
ideas. This creates innovation to the industry and rivals increases.
Organisations innovation requirements 2020 and Beyond
Apple Inc, is popular for its constant unique innovations which are positively accepted
by its customers every time. Apple's practice of bringing rapid innovations has developed
expectation of its customers to continue same in future and thus, creates requirement of more
innovation from Apple in long run. Besides this, another reason which have persuaded company
to execute more innovation is increasing competition at market place (Veugelers and et. al.,
2015). Both the reasons have collectively created demand of innovation for Apple. Some of the
probable innovations and developments that will be brought by Apple in future are described as
below:
Smart connector: As per increasing demand of innovation from Apple, the company is
planning to introduce magnetic smart connector for its iPhone devices. This connector can be
seen as the additional feature that will be helpful in sharing data from computer to other devices
and charge iPhone faster (A look at the future of Apple’s Smart Connector tech, 2018). This
magnetic smart connector will going to launched by 2020. This innovation will be helpful for
consumers as it will allow them to share their data and information in less period of time. Smart
connectors are beneficial for the industry too, as it develops option of collaboration for accessory
maker and Apple. This will help them in becoming a leader in market place with maximum
profitability.
Foldable iPhone: Apple have already given remarkable innovation which were
acceptable and enhanced expectation of its customers. In order to satisfy this expectation, the
new innovation on which Apple is constantly working is about Foldable iPhone which is going
to be launched by 2020 (Apple Could Be Working on a Foldable iPhone for 2020, 2018).
Foldable iPhone will going to be beneficial for customers as with this will carries additional
feature that allows them to carry the device in at the time of non availability sufficient space.
This innovation will create new platform for competitors and influences them to produce more
and more innovative product to sustain longer in the same industry. As a result, it creates an
innovative environment within the industry which contributes in the increment of turnover over
as well as profitability of the same industry.
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Hologram TV: Apple is further planning to introduce 3D display Television in the
coming years. In this, main innovation will going to replace work of remote with the Hologram
display. It can be said that this innovation will make a 3D gesture based image that could be is
controlled by users in appropriate manner. In relation to users, Hologram TV will allow users to
control their TV screen with additional displayed screen with 3D Gestures. This innovative
product will going to enhance its product and helps in delivering best product to customers
(Alhajri, 2016). This innovation will provide new experience to customers that will enhance their
satisfaction level. Innovation of Hologram TV is beneficial for consumer electronic industry as it
fosters relationships with professionals from various sectors like information technology,
research and development as entity requires competent individuals for bringing such
innovations. As a result, these positive relations will help the industry in bringing more
innovation in future which will also enhance their profitability in effective manner.
Apple AR smart glass: Apple is also planning to introduce AR smart glass for customers
which will allow user to access information from cloud with the help of laser light connected to
eyeball (Apple Is Clearly Working on AR Glasses, 2018). This innovative glass will be able to
connect with other devices too in order to allow user to reach information. Apple's AR smart
glass will be helpful for its users as it is easy to carry and manage. It can be said that this
innovation will increase competition within the industry and motivates other organisations
within the industry to make new innovative product in order to sustain longer. As a result,
consumer electronic industry will progress quickly.
Project Titan of Apple: It is one of the biggest announcement of apple in 2016. The
company is working with its 1000 workers to launch a car in 2020 or 2021. This is one of the
most expected innovation of apple to launch. This will result into increasing the shares of Apple
in market and thus the investment in company increases. Apart from that, another tech giants
such as Samsung and other will also motivated to keep an eye over Apple's innovation.
As per the above stated number of innovations that are going to be introduced by 2020
or beyond, it has been analysed that possible chance of success associated with these innovations
are high as this will help to provides an opportunity to the consumers about feeling high
technological advances which improves their working. . Building all the innovative capabilities
within an organisation is important due to high expectations of consumers associated with brand
name.
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Building the future innovation capabilities for the organisation
Innovation can be seen as the best way to influence the buying behaviour of customers
towards the company with its unique features. It simply gives reason to consumers for the
purpose of stay connected with the company every time while they are going to launch any new
product in market. Apple Inc. is mainly known among its users for its advance technology which
are always prevailed under their innovative products (Yoo and et al., 2012). In order to maintain
its brand name, the company is focusing on building future innovation capabilities of Apple with
the help of following a particular innovation road map. This is mainly considered as the path way
which directs company to follow each and every step to effectively implement any kind of
innovation in actual scenario. This map works as a strategic tool which guides organisation about
work which is going to be implemented at that time. It will directly help the company in building
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up successful future capabilities which will be beneficial in becoming successful leader at
market place. In relation to the Apple, road map for implementing new innovative product is
described below with all of steps:
Recommendation and reason: As per evaluation of demands of consumers in consumer
electronics sector in context of Apple, identified that from all of the innovations the one which is
more retable and useful is Foldable iPhone. It is recommended to the company to give more
priority regarding building Foldable iPhone as it is yet not introduced by any other company and
highly required as per the need of consumers (Rothaermel, 2015). This innovative product will
also provide new experience to users of Apple as they can carry this product in less space and
fold it according to the available space.
Impact of change: In order to build Foldable iPhone in future, it is essential for Apple to
make some necessary changes in existing process for its efficient output. This change will not
only impact on one single function of the company, but it will directly influence overall function
such as R & D, Human resources, other resources, finance and some more factors which will be
directly required by company to implement Foldable iPhone.
 Research and Development: Research and Development department of every
organisation plays an essential role in the process of introducing new technology or any
product. In respect to innovation of Foldable iPhone, it is required by Apple to make a
new separate team in research and development department who will work effectively for
making a good foldable iPhone. This team should contain some specialist that owns
desired knowledge on the technology that is going to be used in Foldable iPhone in order
to make a better product (Bason, 2018). Research and Development department of Apple
is required to conduct some session for the already existing team in order to develop
information about programming language and technical skills to develop a software that
will contribute in making a foldable iPhone. As a result, with this special team Apple can
make this innovation of Foldable iPhone successful and deliver best product to its
customers.
 Necessary resources: Road map of innovation also includes information related to
resources which are required by the company to strengthen their concept of innovative
product. For implementing Foldable iPhone, Apple is required to analyse its existing
resources in order to check what alteration required for the chosen innovation. It has been
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analysed that main resource which required for Foldable iPhone is skilled employees,
financial resources, advance technology, machinery and equipment’s, etc. to effectively
execute it at market place.
 Needed Technical skills: While implementing foldable iPhone, it is required by the
Apple to develop technical knowledge among its employees in order to make foldable
iPhone soon. Therefore, it is important for the company to hire advance programmer who
will conduct some programming session for employees (Teece, Peteraf and Leih, 2016).
In these sessions employees will get required guidance about new software's and
programming languages which will going to be used by them at the time of developing
foldable iPhone. The company also needed to develop technical skill of staff related to
customers redressel because in future when company will introduce Foldable iPhone at
market place then they will surely require a well developed team who can deal with the
customers queries and guide them about the process of using foldable iPhone.
 Legal Aspect: For making a Foldable iPhone, it is essential for Apple to go through the
legal aspect before introducing this innovative product. For this, it is required by the
company to take care of design, Intellectual property Right and many other related legal
terms which might make their product void in future. Apple must ensure that its product
should be introduced by considering all the legal standards that are given by government
under intellectual property right (Bloomberg and Volpe, 2018). So that after launch of
product, company will not face any legal or compliance related problem which place
negative impact over its brand image.
 Cost of change: At this step, Apple mainly focuses on making bringing about changes in
company's existing procedures and techniques so as to make it capable for
implementation of innovation plan. The cost structure ascertained for executing the
innovation in terms of Foldable iPhone is described below:-
Expenses Amount
Research and development 25000
Marketing 16000
Advertising 10000
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Material 170000
Human resources 26000
Total 247000
For successfully bringing the new product by way of innovation in marketplace,
Apple has to incur a large sum of money. From the above cost table, it has been analysed that
company will incur $25000 on Research and Development along with $10000 for advertising
about this innovative product of enterprise. Along with this, $16000 will be incurred for
marketing and $26000 upon recruitment of skilled and competent employees for successfully
bringing Foldable iPhone. Further, $170000 will be spent by entity for buying the necessary
resources and material for creation of product.
Feasibility: After conducting a deep evaluation of impact of changes which are required
to consider by the Apple, next step on which Apple should work is checking feasibility of the
product. This term is mainly used to analyse whether the new plan will be successful at the time
of its implementation or it will require some changes to make it better.
After identifying the resource requirement for developing and making the “foldable
iPhone”, next step is to analyse the internal system as well as resources for predicting the current
status of the available resources. This evaluation will help in understanding actual need of the
resources for Apple which will be required to make foldable iPhone. Feasibility of foldable
iPhone will be going to be checked on the basis of various factors which are described as below:
 Economical: This factor will analyse the financial soundness of project by evaluating
that whether Apple will be able to arrange the fund which is required to implement this
innovational plan and its launch within marketplace. This analysis also put emphases
over identifying the fact that whether it will be successful in fulfilling the demand of
customers after being commercialised in market.
 Technical: Through this analysis company will be able to evaluate that whether the
machineries and other equipments that are being arranged by Apple for developing
Foldable iPhone will be efficient or it required to arrange more advanced technology for
implementing plan. Further it also help in determining that whether the technical staff
will have adequate knowledge for this innovation or required training.
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Approval process: It is important for the Apple to take approval from board of directors
in order to introduce a new innovative product that is Foldable iPhone. This approval will only
allow the company to make changes in desired product which is going to be launch. In this
regard, it is important for Apple to conduct a meeting sessions with board of director in which all
of the essential changes will be discussed with them for awaring them about it (Zheng and
Kammen, 2014). This discussion is very important as without informing board team Apple can
not make major changes in its upcoming product.
Apply the changes: Implementation of changes is considered as an essential step in road
map which occurs after evaluating needed resources for developing Foldable iPhone by Apple
and taking approval from government authority as well. In this step, it is required by Apple to
gather desired resources like technical staff(programmers), software etc. for foldable iPhone in
order to develop it successfully at marketplace. For this, Apple will conduct some regular based
training sessions for its existing staff(programmer) from third party expertise who will guide
them about usage of new technology while making foldable iPhone. These expertise will guide
technical staff regarding the application of software. These software's will further going to be
used in Foldable iPhone in order to make it work as per expectation. This will help in
implementation of change in future (De Reuver, Bouwman and Haaker, 2013).
Review the impact of changes: This step simply defines about the success of Foldable
iPhone that whether it will be successful at market place or not. This can be done with the usage
of prototype model which is a sample of actually product that will be tested by the technical
team. This test is basically conducted before the launch of foldable iPhone in market. In this,
team member of Apple will review this prototype model on the basis of its financial reliability to
check the feasibility of product in terms of profitability.
CONCLUSION
As per the above specified report, it has been analysed that innovation is the best way
through which company can enhance its sustainability at marketplace for longer period of time.
Innovation is a continuous practice which when adopted by company assists them in gaining a
strategic edge in marketplace. It has been identified that consumer electronic industry is very
dense in nature and is required to bring rapid changes for enhancing its sustainability. It is
essential for the company who deals in this sector to bring something new every single time in
order to make it stay at market place for longer period of time. These innovations generates more
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opportunity for company and also contributes in enhancement of market share ratio. It has been
analysed that future of consumer electronic industry is very bright as the industry focuses on
providing best technology based innovation and continuing this process of innovation in the
future too. Some of the main innovations which are going to be introduced in the industry
includes Foldable iPhone, Hologram TV, smart connectors and Apple AR based glass. All of the
innovation are mainly based on technology and that contributes in enhancing experience of
customers with completely new and attractive features. Along with this, it has been founded that
building capability for future is very important for every organisation. This can be done
effectively with the usage of road map. A road map is considered as the process which involves
various steps that guides company to take measurable actions time to time in order to implement
a successful innovative product.
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REFERENCES
Books and Journals
Alhajri, R., 2016. The Deployment of the Future Mobile Network. Advances in Computer
Science: an International Journal. 5(2). pp.7-13.
Anthonisz, A., 2014. Assessing the future of housekeeping operations in Dubai’s five-star hotel
industry–room for innovation?. Worldwide Hospitality and Tourism Themes. 6(4).
pp.352-361.
Bason, C., 2018. Leading public sector innovation: Co-creating for a better society. Policy Press.
Bloomberg, L. D. and Volpe, M., 2018. Completing your qualitative dissertation: A road map
from beginning to end. Sage Publications.
Bogue, R., 2014. Towards the trillion sensors market. Sensor review. 34(2). pp.137-142.
De Reuver, M., Bouwman, H. and Haaker, T., 2013. Business model roadmapping: A practical
approach to come from an existing to a desired business model. International Journal
of Innovation Management. 17(01). p.1340006.
Rothaermel, F. T., 2015. Strategic management. McGraw-Hill Education,.
Teece, D., Peteraf, M. and Leih, S., 2016. Dynamic capabilities and organizational agility: Risk,
uncertainty, and strategy in the innovation economy. California Management
Review. 58(4). pp.13-35.
Veugelers, R., and et. al., 2015. The impact of horizon 2020 on innovation in
Europe. Intereconomics. 50(1). pp.4-30.
Yoo, Y., and et al., 2012. Organizing for innovation in the digitized world. Organization
science. 23(5). pp.1398-1408.
Zheng, C. and Kammen, D. M., 2014. An innovation-focused roadmap for a sustainable global
photovoltaic industry. Energy Policy. 67. pp.159-169.
Online
Apple Is Clearly Working on AR Glasses. 2018. [Online]. Available Through:
<https://www.tomsguide.com/us/apple-ar-glasses-akonia-holographics,news-
27927.html>
Apple Could Be Working on a Foldable iPhone for 2020. 2018. [Online]. Available Through:
<http://fortune.com/2018/03/23/apple-foldable-iphone/>
Panasonic Develops Two Models of
Its First Full-Frame Mirrorless Camera. 2018. [Online]. Available Through:
<https://news.panasonic.com/global/press/data/2018/09/en180926-2/en180926-2.html>
A look at the future of Apple’s Smart Connector tech. 2018. [Online]. Available Through:
<https://www.computerworld.com/article/3215884/apple-ios/a-look-at-the-future-of-
apple-s-smart-connector-tech.html>
Product launched by Apple. 2018. [Online]. Available
through<https://www.wired.com/story/apples-latest-iphones-packed-with-ai-smarts/>
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