Managing Innovation in Business CW2 Assignment

   

Added on  2020-12-30

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Managing Innovationin Business CW2
Managing Innovation in Business CW2 Assignment_1
Executive SummaryThis report is the continuation of part one which was presented in last semesterdemonstrating knowledge about innovation and its importance in maintaining the sustainabilityof Apple Inc. The previous project comprised of company's innovation history as well as itsfuture capabilities through the analysis of consumer electronic industry. Now, in the second partof project, it talks about the role of innovation in facilitating the growth and expansion of AppleInc. in a span of few years. It gains an insight into the innovation requirements of company.This report explores the innovation that would be brought in by entities operating inconsumer electronic industry. Such innovative products and processes will bring a majortransformation and change the face of industry by 2020 and beyond. It has been evaluated thatorganisations now realise the importance of bringing rapid innovations so as to gain acceptancefrom public and ensure customer loyalty for a long duration of time. This has encouraged AppleInc. to bring innovative products and features which are not yet explored by anyone. This is donewith the motive of staying ahead of competitors and gaining a large share in market. Thus, AppleInc. is likely to bring innovations like iKeyboard, iCar, AR smart glass, Foldable iPhone etc. inupcoming years. It has been recommended that out of these, Apple should launch iKeyboard inmarket as this product has not yet been introduced by any company. Also, it has been observedthat by utilising a road map, Apple Inc. can successfully execute the innovation plan to launchVirtual iKeyboard.
Managing Innovation in Business CW2 Assignment_2
Table of ContentsExecutive Summary.........................................................................................................................2INTRODUCTION...........................................................................................................................1Future of Industry 2020 and beyond......................................................................................1Organisation's innovation requirements 2020 and Beyond....................................................3Building the future innovation capabilities for the organisation............................................4CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
Managing Innovation in Business CW2 Assignment_3
INTRODUCTIONInnovation is a process involving addition of value to existing products or processes tomake them compatible with the needs of customers as well as market. In business world, it hasbeen analysed that innovation plays a crucial role because, in present time customer's demandsgets changes on a regular basis. This report is based upon Apple Inc. which is a multinationalorganisation operating globally and offering customers a wide range of technological products(electronic gadgets).Away with this, it is being found that Apple basically offers both hardware and thesoftware as well to its consumers in all over the globe. Along with this, Apple has mainly kept itsfocus on both invention and innovation as well in order to improve its sustainability atmarketplace. On the other hand, overall investigation is going to keep its focus on futureinnovative based opportunities which will stay available for Apple within the electronic industryso that it could grab a good position in market than its existing one. The purpose of this report isto gain an insight into Apple's innovation based necessities in 2020 or beyond. Lastly,assessment is also going to be enclosed with future of the consumer electronic industry alongwith the building of future innovation capabilities of Apple so that it could directly grab a goodposition in specified time frame.Future of Industry 2020 and beyondConsumer electronic industry comprises of companies engaged in production of audioand video devices like television, video games, stereo systems, digital cameras, VCD, mobilephones, computers, DVD, laptops, jukeboxes etc. All of these are essential components oflifestyle of individuals in modern world. These products have the potential to be developed invariety of ways, each time by bringing one or more new innovative features in them. This takesconsumer electronic sector on to a whole new level where it has gained significant growth andprofitability across the globe.This industry consists of a large number of firms that are competing with each other on adaily basis to stay ahead of rival companies. For facilitation of this, companies in this sector areintroducing new products and services at regular intervals by bringing innovation in existingprocesses and commodities. Over years, it has been observed that the key players of consumerelectronic industry are HP Inc., Panasonic, LG, Samsung Electronics etc. The major emphasis of1
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