Managing Innovation within Networks

The provided assignment is focused on understanding different approaches to managing innovation within networks. It includes a list of references from various academic sources, such as journals and books, which cover topics like business model innovation, open innovation, and managing distributed innovation. The assignment also provides online resources related to measuring innovation and its importance in driving business success. This comprehensive review aims to equip students with knowledge on how to effectively manage innovation within networks and make informed decisions in a rapidly changing business environment.

MANAGING INNOVATION IN
BUSINESS

TABLE OF CONTENTS
EXECUTIVE SUMMARY ............................................................................................................1
INTRODUCTION...........................................................................................................................2
The Future of the Industry 2020 and Beyond.............................................................................2
The Organisations Innovation Requirements 2020 and Beyond.................................................3
Building the Future Innovation Capabilities for the Organisation..............................................5
CONCLUSION................................................................................................................................8
REFERENCES .............................................................................................................................10

EXECUTIVE SUMMARY
Innovation is a very typical part of a company as well as its latest imperative
administration. Every company either small or large firms like as Google, Netflix, Apple etc.
needs to make changes, innovate their techniques, framework, functions, process and services
within a limited period of time in terms of carrying out latest changes within markets as well as
in enterprise.
Specialists had explained the system in details as “innovate or die” which aid in actions as well
as encourage principles within a company. Often, innovation conflated with techniques which
are substantiated coherent and logical for undertaking various choices that provide important
novels of solving problems. Managing an innovation is defined as a combination of
administration as well as innovation process with a change management. In this managers as
well as engineers allow to corporate along with various considerations of process as well as
goals.
Marin bikes introduce the mountain bikes as per current culture within the market. In
2012, they had purchased a European Investment Company. In recent years, this brand had
concentrated mainly on giving a range of models for both pavement as well as trail involving
bikes with construction of carbon fibre. In the year 2016, they had celebrated 30th year within
industry along with that they have to introduce drop series of bar bikes, touring bikes, trail bikes
etc. It has also manufacture a American bicycle in current years are bike Friday, bontrager,
catrike, Columbia, Yeti, Zigo etc. are present manufactures by the organisation.
Organisation have to analyse the latest trends for manufacturing a bicycle in the
upcoming year 2020. This will help the company in earning large amount of profits as well as it
will aid in attracting higher numbers of customers and making a company’s goodwill within a
market place. In the upcoming future, it will manufacture a product by using all the latest
features, technologies, equipments etc. at a time of manufacturing a new product. In this, they
will also analyse customers’ needs, wants, and desires of particular person so that it will help in
selling latest product within a market. Organisation will establish a bicycle which will be on
demand in coming future.
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INTRODUCTION
Management of innovation is combined with its process as well as change management.
It refers to goods, organisational innovation as well as business process. It is the subject of ISO
50500 series that is ideally evolved through ISO TC 279. It also consists of set of tools that allow
engineers as well as managers to cooperate with similar understanding of goals and processes
(Berglund and Sandström, 2013). It allows company to respond to opportunities of internal or
external, and use it in establishing a new item by innovative creativity.
For innovating a bicycle, a company needs to analyse future generation so that they can
make their product more creative and interesting to attract customers. It consists of employees at
each level involve innovative creative to organisation product manufacturing, marketing and
development. Marin Bikes is a privately held firm which is a bicycle-producing organisation and
specializes mainly in mountain riding but also provide various varieties.
In this report, all the needs of the company for innovating their product for 2020 along
with that they have to construct the future capabilities of innovation for the company. For
innovating a bicycle they also have to analyse the 4Ps of innovation along with that SWOT and
PESTEL. It has been identified earlier that inculcation of technology will be helpful in fulfilling
requirements of customers in the rightful manner. Importance of technology have been growing
in this era and its introduction to Bikes will definitely enhance its sustainability.
The Future of the Industry 2020 and Beyond
In the future industry in 2020, innovation aids organisation to reinvent bicycles and add
some creativity in their goods and services. By their innovative brands of companies, they
maintain their relevance with buyers. They use various different trends of innovation which are
used to introduce a new bicycle within in the industry of cycling. In order to introduce a bicycle,
an organisation must use different new technologies to develop a market in future 2020
(Biemans, 2018). In this industry of bicycle, they will overall develop their new trends of
cycling in upcoming future in 2020.
Some of Bicycle trends of future are given below:
e Bike: In the future industry, e Bike will take place within a market in coming years as it
will develop a market very furiously as well as fast. They are analysing a market for developing
a new trend for future. By using this trend, it will aid in increasing their sales by 22 percent
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faster. Sporty e Bikes is overtaking lane and they are classifying a bikes as eMountain which are
growing very fastly in the segment of bicycle market. These eBikes are targeting group of
youngsters and are mainly conceived for sporting. It is convinced that bikes of eMountain will
shape thingsfor upcoming future.
Smart Bicycle: These types of bicycle uses advanced technology within industry of
bicycle. By this they are inventing solar cycles, electric cycles and many other things. In smart
bicycle, there is small electronic motor powered by rechargeable battery. This intelligent
assistance is only made possible by using wireless features as well as smartphones. In this
bicycle top 5 features are e-Bike lock, Anti Theft, SEMS is the smart eBike monitoring system,
feature of custom sensor and bicycle battery (Bogers and West, 2012). Bicycle are vehicles that
consisting of two wheels that are controlled by human powered by pedals. In this innovation has
effective to introduce of new and exciting features as per regular basis. As it help in improving
the in the design and materials that take place in manufacture process of bicycle. In addition of
this, there are some key areas like fitness, racing, stunts, transportation, mountain biking and
many more. As per current scenario, the global bicycle market is rapidly grow over the last
decade. Apart from this, increasing population in mountain biking as a sport enhance the sales of
the bikes in market place. Rising fuel cost, lack of parking space and many more are the main
drivers that enhance bicycle market growth.
Bicycle Tourism: These types of bicycle are steadily taking place within a market of
niche into a booming global industry. It is the world’s biggest tourism trade fair placed by front
as well as centre tourism bicycle , citing its concentrating on sustainability as a driving force
behind its popularity of burgeoning. In order to apply bicycle tourism successfully into a
portfolio of large service, shopping of bikes must include a variety of factors like as liability,
labour and location. It is the most challenging work in emerging trends to implement in their
shops, but mainly it does not make any importance.
Bike sharing and rentals: It is an bike sharing prove that last mile bike rentals are
designed for short distance to their final locations are a billion dollar enterprise. In the surface of
development appear direct disputes with shopping a bike rental programs. There are advantages
are in fact of 3 folds are it is a most famous cycling become as a form of urban transportation, it
is a private bike sharing organisation and it emphasis are placed on schemes of bike sharing
designed by particular person for one-way transportation (Cheng, Yang and Sheu, 2014).
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The Organisations Innovation Requirements 2020 and Beyond
Company Overview
Marin Bikes is a bicycle producing organisation founded by Bob Buckley in 1986. They
had manufactured a full suspension of mountain bikes. It is adopted early as well as innovator of
titanium frame construction and full-suspension systems for mounting bikes. Organisation offers
hard tail and full suspension mountain bikes, comfort bikes, urban commuter bikes, road bikes
and particular designs for children as well as women.
Innovative needs for Bicycle Company in 2020
In the year of 2020, innovation will use strategy for making a creative product in a
broader term. It comprises of all new methods in acting as well as thinking in a terms of social,
topic and time setting. Organisation will manufacture a product by their own innovative and
creative strategies for that they need lots of new innovation techniques and technologies for
bicycle. The approach to innovation can be best explained with the help of Pentathlon model so
that it leads to success. The major steps in this model are as follows:
Ideas: This is the primary stage of model in which ideas from the various areas of
organisation are considered and measured on the grounds of practicability and feasibility. The
employees working with the organisation are persuaded to share approaches through which
existing products i.e. bicycles could be modified so that sustainability in the operating market
could be developed. The ideas which has been identified earlier is that technology needs to be
introduced in bicycles so that requirement of future generation is being fulfilled in the right
manner.
Prioritisation: This step focuses on the screening process through which best ideas could
be preserved through elimination of rejected concepts. The concept of hybrid bikes is largely
appreciated in the contemporary market and can be practised with existing capabilities and
resources of an organisation. The consideration to the external environment is carried out so that
innovation concept and strategy which carry a potential for success is undertaken and
emphasized.
Implementation: This stage, as the name suggest focuses on implementation of ideas so
that an improved marketing position in context of an organisation could be achieved. The use of
technology and resources will be carried out so that products which is distinct from the existing
offering in the market could be carried out so that it result in better positioning of the company.
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Some of the requirements of innovation within an organisation are explained below: Public Management Services: In this, there is a need for improving existing products
and must target public needs, wants and desires which is managed by public
administration services. In order to introduce the bicycle, they have to analyse the
demands of public which can be in upcoming future (Dodgson, Gann and Phillips eds.,
2013). They have to manage by planning it in a useful manner for attracting new
customers by adopting latest trends. Developing of technology: For manufacturing an innovative product of bicycle, firm
have to adopt advanced technology for offering their services, goods or process which
are fully based on latest technologies. If they keep on using latest technology then it will
result in earning high profit along with that it will aid in attracting higher numbers of
customers. Electronic Bikes: In 2020, Marin Bikes have to make changes in their bikes for
developing in future. The users of these kinds of bicycles are person or seniors with
physical ailments. Electronic bikes will be mainly used by the youngster as they will
develop a bicycle accordingly. Bike is manufactured by using a latest technology so that
it will aid in maximising a sales in upcoming future in 2010. They should introduce
various features within their bicycle so that it will be in demand along with that they have
to work as per running trends within a bicycle market. Innovative thinking: In order to manufacture an innovative bicycle, they have to think
differently from others for attracting higher numbers of customers towards their product.
If they will think in a different way then it will aid in producing a new product. For
manufacturing latest trends bike they have to analyse it in a different manner will help in
growth of organisation in 2010 (Drucker, 2012).
Innovation strategy: Its the responsibility of Top management of the Marin Bikes
company for developing the strategy in order to grow market share. One of the innovation
strategy which the company has adopted is push and pull strategy like through trade shows,
appropriate point of sales display, by maintaining better customer relationship and by using sales
promotions techniques and discounts.
People and organization: Human resource plays a vital role in every organization as
they are the one who work for the company in order to increase sales revenue. The HR of Marin
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Bikes company recruit and select only those candidate who have some kind of creativity and
innovative skills so that they prove to be best for the company in the future.
Their are the needs of an organisation if they have to manufacture a new product within
upcoming future in 2020. For introducing a new bicycle they have to keep in mind of all the
above things for the growth of organisation in future as through that it will aid in earning lots of
profits as well as it assist in attracting customers mainly youngster.
Building Future Innovation Capabilities for Organisation
Building a future capabilities of innovation is transforming a world. They introduce
company innovative product of bicycle by themselves within a group. They manufacture their
products by analysing market trends, organisation competitors, advanced technology, customers
needs etc. all the things are analysed before manufacturing a new product of bicycle within a
upcoming market. As they have to manufacture a product by keeping in mind about future
capabilities of the company. There are no relations with statistical in research and development,
total margin growth and revenue (Du, Leten and Vanhaverbeke, 2014). Advantages including as
well as taking sustainability improved business agility, productivity, resilience and increasing of
wealth creation.
In addition, fact of developing a new product wills provided by marketing as innovative
which blurs distinction within transformational as well as incremental innovation. They have to
build the capabilities of future innovation for the organisation. They have to use all the latest
technology which will be helpful in upcoming trends within a market place. Building a
sustainable business wide the capability of innovation is included in innovation by future
capabilities of innovation are given:
 Rethink your high level of enterprise strategy: Conventional methods are used to
develop business level techniques that are tested as per latest world changing technology,
or globalisation, or disruption within marketplace or vastly shifting buyer’s requirements
of bicycle. Organisation had decided a strategy of making a latest trend bicycle within a
rivals market for developing their organisation. They have to think again about
techniques of business which are going to use at a time of manufacturing of bicycle. They
also have to ensure that higher level of enterprise techniques remains relevant when it is
confronted with change as well as innovation (Frankenberger and et. al., 2013). It is not
having a fixed plans of techniques as it modify as per trends within a market. Long term
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techniques is helpful in guiding a potentiality to continuously become irrelevant when
company have to respond or initiate continuously change in transformational.
 Protect and recognise entrepreneurs: It is an entrepreneur who runs a large
organisation to drive its values by innovation internally within company. Issues of
innovating a new product of bicycle in the absence of proper process, protection as well
as explicit executive support, their life expectancy is introduced by limited company . In
these current trends, they realise the value of entrepreneurs. In some cases, bicycle firms
failed to realise talent value that was hired at significant price to lead an attempt at
innovation. This is not related to job title or role, but should be linked with internal
capability of company.
 Build an innovation culture: Managers are taking Initiatives from top to down for
developing more creative ideas or innovation which will result in achieving capability of
sustainable innovation. In the company, there are several ideas which are developed by
innovation for manufacturing an innovative bicycle for future capabilities (Johnson,
2016). This has a corrosive impact at a level of executive which attempt at fostering
innovative ideas. When it comes to introduce an innovation, hierarchical company-
insights trump ego and seniority.
Some of typical factors of success that outcomes in sustainable, business-wide and
innovation culture are evaluated below as:
1. Applying as well as architecture is a techniques of business which helps in manufacturing
a latest bicycle. It will not thrive if the company is modifying resistance. They should
have labour who can work in every situation or any technology.
2. Developing the process of innovation which is secure, inclusive and transparent.
Particular bicycle innovation should not able to predict, therefore gathering a process of
required innovation. Understanding a business at a time of innovating a bicycle is not an
ideas-ideology, fest, rivals or marketing technique in which winners take all of this.
3. Reviewing techniques of staffing, structure and incentive schemes is to increase workers
efficiency as well as executive engagement (Lin and et. al., 2013). Bicycle innovation is
the most likely to fail in deciding a team members which will work on manufacturing an
innovative bicycle as per upcoming trends. It is based on revolving casual door, interim
staff as well as contract.
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4. Measuring as well as defining strategic of leadership competencies for innovating a
bicycle. Leaders will aid in guiding their team members who will work on this project.
 Lack of Alignment: Besides of capability importance build the agenda of techniques,
executive provide responses which indicate that they are not good in executing an
innovative work. Companies quarterly think that firms should conduct programmes of
training for innovating a bicycle product which are very effective as well as extremely in
making several workers groups to drive enterprise performance which will aid in
improving all over organisation performance. Survey of outcomes also indicates
explanation in potential way.
Programs of training are misaligned as it is most capable in the enterprise performance.
As some of employees say that skills development and training programmes concentrate
on growth of firm’s capability (Ngo and O'cass, 2013). Firms do not concentrate on
regular activities that can maintain the capability on performing a business. They focus
on future goals as for targeting a large number of customers and making a reputation
organisation within markewhat is mist place by introducing a latest trends of products for
customers had never use that kinds of goods within a market will automatically attract the
people towards their new developed product.
 Ineffective Training Approach: Organisation trend to relate with the job training so that
all workers should give their best in manufacturing a bicycle. Firms try to scale up their
training across geographic boundaries, various ways of providing it which is important
for customers. They have to establish a new product and have to provide training for
innovations in bicycle by the use of latest trends according to year 2020.
Additionally, experience shows that on-the-job training is very much effective when it is
reinforced by some sort of feedback loop as well as formal teaching. Organisation
respondents those programmes of training which are very effective in improving the
enterprise performance also firms pay more attention in supporting a tools or building a
capability like as process of standard operating, target setting, metric tracking and IT
systems (Pynnönen, Hallikas and Ritala, 2012). They have to provide training of getting
knowledge about latest trends of market such as Electronic bike, smart bikes, tourism
bikes etc. will manufacture a bicycle for upcoming future for that they have to trained
employees for applying this plan in coming times till 2020.
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 When Senior Leaders Engage: Senior executive is saying that building a capabilities
with firms three top priorities are compared with overall respondents and Human
resource respondents. As per their senior leaders set the agenda of training, building a
capacity is more explicit related to immediate enterprise goals then others groups also
(Seebode, Jeanrenaud and Bessant, 2012). In order to manufacture a new product of
bicycle, they have to involve their senior leaders as they can guide them in an effective
manner as well as they can provide training according to their efficiencies. People in a
group should have one person who will lead their team for implementing a plan within
the company. It is not surprisingly, that organisation execute their seniors who set
agenda of training, programs of skill development as well as training are seen as it is very
effective in driving the performance of business while manufacturing a bikes in a market.
 Strategic Priority: Organisation requires being much deliberate in understanding which
is capable truly influence on performing an enterprise as well as align their sessions of
training accordingly. They should concentrate on skills of leadership development are
likely to consider the program of training which is very effective in improving the
performance of enterprise (Schiuma, 2012). Firm is concentrating on new trends as well
as their capabilities for developing a new product of bicycle within a marketplace. In this
there are driven a strong capabilities of effective building, organisation that concentrate
on some capabilities for their rivals reasons as they have to analyse their competitors too
according to that they will innovate their new product within a market. It will help in
taking competitive advantages within a market.
Building Future Innovation Capabilities for a company will help to develop themselves
within a market as well as aid in making its goodwill. Bicycle latest trends are used by leaders
who are working in this project. They use the latest technology for developing an organisation’s
goodwill and its reputation. They have to make a product which will be on demand in upcoming
years in 2020. Therefore, it will help in increasing the level of profits as well as attract large
numbers of customers within a market place. These innovative products will aid in making sales
because people had never seen that product before within a market place.
 Leadership style
It is considered as the style which was adopted by leader of organisation about providing
of direction and implementation of plans to accomplish desired objectives. Marin bikes
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established in 1986. Over the period of time there are many innovations are adopted by
organisation to bring changes in their offerings. Now they get specialisation in mountain and
several other bike segments. There are many type of leadership styles which includes autocratic,
laissez-faire and democratic. In current scenario, the style which was adopted by the leaders of
Marin bike is Democratic where freedom is provided to employees is to share their views and
opinions. This will one of the important factor in this leadership style which helps to build and
sustain innovation capacity within the organisation. In addition of this, the main limitation of this
leadership style is that it take more time to reach a consensus and also not provide guarantee to
attain best possible solution in effective manner. Furthermore, it also create cause among team
members because it putr negative impact on workers capabilities at workplace.
 Leadership theories
The basic leadership theory which was adopted by the leaders of Marine bikes in their
organisation is about Transformational leadership. The concept of this leadership theory was
effectively interact with others and build good relation. This will helps the organisation to attain
the trust of employees. It improves the passion and enthusiasm of employees which helps in
generation of innovative ideas in mind of employees. It aid Marine bikes to bring changes in
their products as per current trends. The main limitation of this type of leadership style is that the
leaders are confused as they tries to exchange the rewards as compare to influencing workers to
take part in decision making. Along with this leader also depend on their employees which create
conflicts among all the workers who work in the company.
 Change management strategies
The basic strategy which was adopted by the management of Marine bikes to bring
changes effective way in organisation is Lewin's change management model. This model
comprises three stages which are defined below:
Unfreeze: It was preparatory stage where organisation accept the changes and build up
the new way of working. It is important for Marine bikes to change the old style of working
because bicycle industry changes rapidly due to fluctuations in behaviour of consumers.
Change: This is the stage where employees begin to resolve their uncertainty and look
for new ways of doing. Here, issues are removed faced by employees while accepting the
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changes. For ex., New technologies are available to build bicycles which are typical to adopt and
effect the working efficiency of employees.
Refreeze: At this stage employees accepted the changes and loved to work with new
ways. This helps the Marine bikes to achieve their desired objectives and sustain innovation
within organisation for future improvements.
The primary approach through which resistance to change could be countered is
enhancing the level of participation of employees in the organisation. It is an approach through
which employee would be able to identify underlying benefit relating to change. The undertaking
relating to communication and education can be helpful in overcoming resistance to change in
context of an organisation.
 Managing and Sharing Knowledge on Innovation- Marine Bikes is engaging in
introducing large number of creative products at marketplace for gaining competitive
advantage. However, innovation is not easily acceptable by various domestic and foreign
clients due to which it is essential to manage all the activities in desired manner. For
example; selected firm need to conduct marketing campaign for informing customers
about their modification which is done by them in their bicycles. It shows that company
is sharing their creative knowledge with various customers for helping them while
purchasing.
 Stakeholder engagement in innovation:- Shareholders are playing crucial in managing
creativity of Marine Bikes such as; supports while making decision by suggesting other
team members. For example; company is twice thinking before launching innovative
product at marketplace in which shareholders are suggesting appropriate market like;
cycles are preferred by kids at large extent as compared with adolescents. Thus, company
needs to target children's and select those places where kids can easily went either on
weekly basis or daily like; nearby parks where kids are coming for playing various
games. It means, stakeholders are engaging in decisional process because they are also
wanted to acquire maximum dividend. Hence, it shows that shareholders are also
concerned about the company policies and various marketing programmes for capturing
the attention of maximum clients.
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CONCLUSION
As per above given report, it has been concluded that firms are introducing a new
innovative product by using latest trends of innovation for manufacturing a bicycle within
marketplace. Organisation had innovated various trends of innovative goods like as they can
manufacture an electronic bike with lots of new features in it by using a latest technology.
Before launching a product within a market, they must analyse the customers’ wants,
needs and desires of particular products. In 2020, there are various types of advance technology
of bicycle will grab the market effectively. They have to analyse the future capabilities at a time
of manufacturing any product. They can also establish smart bikes which are manufactured by
using digital technology in bicycle. This are the types of bicycle which can ride on mountains
very fastly as it will attract the youngster who are very fond of adventures trips. It will come in
market by new or latest features in bicycle as it will aid company in making lots of profits as
well as attract higher numbers of buyers within a market. By this company can easily invite new
and potential customers towards the new products and services so that they can easily enhance
their productivity level at market place. In this, they have to manage innovation as they have to
guide their employees for manufacturing latest trend bicycle by using latest equipments,
technology, trends etc. It will aid in customers to get the latest trends product and it will help in
maintaining their goodwill as well as their reputation within a market place. For attaining
success, company needs to maintain their products as per customers taste and preferences which
may directly contribute in establishing competitive image at market place.
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REFERENCES
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Online
Why Measuring Innovation Matters. 2015. [Online]. Available
through:<https://www.forbes.com/sites/brianquinn/2015/11/05/why-measuring-innovation-
matters/#2e4f52386cd8>.
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