Innovation and Business Model Assignment

Added on - 23 Mar 2020

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INNOVATION AND BUSINESSDEVELOPMENT
INNOVATION AND BUSINESS DEVELOPMENTTable of Contents1. Introduction.............................................................................................................................................22. Problem case...........................................................................................................................................23. Possible Innovation and Business Model.................................................................................................34. Benefits of the Innovation.......................................................................................................................35. Strategic Plan...........................................................................................................................................36. Project Options Analysis.........................................................................................................................47. Delivery of the Innovation.......................................................................................................................58. Net Present Value (NPV)........................................................................................................................59. Conclusion...............................................................................................................................................510. Recommendation...................................................................................................................................6Appendix 1..................................................................................................................................................7Bibliography................................................................................................................................................81|P a g e
INNOVATION AND BUSINESS DEVELOPMENT1. IntroductionIn the advanced twenty-first century, the application of electronics and computerengineering based tools, devices are at the high and the manual based activities are graduallydecreasing[ CITATION Rui15 \l 1033 ]. The more developed the countries are, the best possibleelectronics devices they are using. The growing demand for the electronics devices is alsoneeded the repair and maintenance service which mostly depends on the manual expertise of thetechnicians. In the modern era, the demand for repair and maintenance of the electronics devicesare at the high. On the other hand the robotic technology has also increased in the past decadeand mostly the developed countries[ CITATION Sri15 \l 1033 ]. The robotic technology has theapplication in the household works, organizational production, driving services, controllingsystem in the toys and in the agricultural facilities. This shows that not only the use of electronicsdevices is increased over the time but also the robotics technology has strengthened the use ofadvanced technology in the best possible way[ CITATION Ura14 \l 1033 ]. This business case reportis based on pitching a solution for the problems faced by the Australian electronics itemsmanufacturer Redarc Electronics. Our expert team will provide a best possible solution for thebusiness case after analyzing the problem statement.2. Problem caseMostly the repair activities are based on welding and small parts altering in the system ofthe electronics devices. Though the current manual based welding and repairing system has thepossible solution for the defective devices, in many cases the devices are also damaging due tolack of the expertise and skill of the technicians[ CITATION Sac17 \l 1033 ]. Another problem is thehigh cost of acquiring the expert employees and waiting period for the fresher technicians to gainthe expertise. It is evident that the cases solved by the manual based technicians in RedarcElectronics are not satisfactory in providing a fast service to the customers. The after salesservice of Redarc Electronics is mostly unsatisfactory as the engaged technicians are not efficientenough to handle the critical defective cases arising at the service centers. The company ismostly using the less experienced or fresher candidates to minimize the repairing cost with amotive to minimize the cost of production. This is directly affecting the efficiency of thecompany as it is lacking in providing a fast repair service to its customers[ CITATION Ang09 \l1033 ].2|P a g e
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