This report explores the concept of business innovation

This report explores the concept of business innovation considering the case of reliance that
is facing a decline in the sales of its smart mobile handset and using product innovation to
bring back the company to track. The ABC Mobile company is a manufacturer of the smart
mobile phones that is facing tough competitor because new players coming up mobile
handsets that are sold at lesser price because of which it is losing its market which is one of
the emerging markets for technology, India. In order increase its sales, the company need to
use an innovation and thus, report is going to explore what kind of innovation would help the
organization put the company back on track and increase its sales.
Issues with the innovation
 Lack of idea generation : This issue can be handled by using innovation funnel type of
innovation. The ABC mobile company has smart phones that are not selling much in
the market and thus, company can use product innovation to bring a mobile in the
market that targets the masses such that the sales of the company can be increased.
Thus, the company would come up with a new model of mobile that would target the
masses (Beckenbach & Daskalakis, 2007).
 Elimination of product complexity: This issue can be handled by using frugal funnel
type of innovation.
 Resource constraint and institutional voids: This issue can also be handled by using
frugal funnel type of innovation (Poblete & Splulber, 2014).
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References
Beckenbach, F., & Daskalakis, M. (2007). Invention and innovation as creative problem
solving activities - A contribution to evolutionary microeconomics. University of
Kassel.
Poblete, J., & Splulber, D. (2014). Managing Invention and Innovation: From Delegated
R&D to Implementation. Semantics Scholar.