Creating Value through Innovation Management

UGB 269 Innovation
Management
Assessment for 2019

Table of Contents
Theme: Creating value through innovation management................................................................3
INTRODUCTION...........................................................................................................................3
METHODOLOGY..........................................................................................................................3
FINDINGS.......................................................................................................................................4
CONCLUSION & VIABLE SOLUTIONS.....................................................................................9
Conclusion ..................................................................................................................................9
Viable solution............................................................................................................................9
REFERENCES..............................................................................................................................11

Theme: Creating value through innovation management
INTRODUCTION
Innovation is consider to be most crucial factor within an organisation as it contribute
toward improving its product or services that help in developing the value among customers. In
context of a business, innovation is something that adds fuel to the changes within a company.
The competition within current business environment is relatively higher which require an
organisation to keep on improving their product or services in order to achieve competitive edge
(De Massis and et. al., 2018). Therefore an organisation is required to remain adaptive to
changes in order to constantly innovate and thing long term. The organisational success can be
achieved by regularly innovating the business processes and practices that support in creating
value. The current research paper is based on the theme “creating value through innovation
management”. This will contain a detail description regarding the importance that innovation
management holds for an organisation and ways through which it support in creating value
among its stakeholders. Additionally, it also contain information regarding the methods used for
performing this study.
METHODOLOGY
Research methodology refers to a framework that provide an information regarding type
of tools and techniques used in gathering, evaluating and analysing the information available
over a particular theme in order to provide appropriate findings (Del Vecchio and et. al., 2018) .
The tools and techniques used for this research paper is mentioned below:
Type of investigation :- It is a method that support in determining the manner in which
an investigation must be performed and type of data to be consider for presenting information
about a particular theme. There are mainly two type of investigation such as qualitative and
quantitative. Among them qualitative investigation is based on observation which gather non-
numerical information to explain about a particular phenomenon. It focuses toward determining
the thinking and behavioural pattern of people to answer the questions like “what” they think and
“why” so.
On the other hand, quantitative research is defined as the process of performing
systematic investigation over a particular phenomenon by gathering the quantified data and
performing the mathematical, statistical or computational techniques (Dembek, York and Singh,

2018). This method relies over measuring the variables with the help of numerical system which
analyses variables and represent relationship among them for explaining a particular
phenomenon.
Among these two, qualitative method will be taken into consideration as this method
make it easier for the researcher to understand the perspective and social phenomenon much
effectively by considering the theoretical framework as it remains more descriptive and
communicative. The main benefit of using qualitative method is that it help in capturing the
changing attitude among the targeted group and support the investigator to determine the
particular area to be adopted for performing study.
Sources of data collection :- The sources to be selected for gathering information plays a
significant role over the outcome of study. It basically refers to the ways that investigator adopt
in order to collect information. There are two sources of data collection such as primary and
secondary. In this primary data collection refers to one which support in gathering the first hand
information which is not yet been collected, as per the area of study chosen. On the other side,
secondary information is refers to the process of gathering information which is already being
investigated by among person previously (Frishammar and et. al., 2019). For this research paper
secondary information will be gathered as it help in representing the concept much effectively.
Research approach :- There are mainly two type of research approaches that an
investigator use for performing study, such as inductive and deductive. Among them inductive
approach focuses toward observing the particular phenomenon and with the help of this it
focuses toward generating new theories for providing a particular outcome. On the other side,
deductive approach starts with hypothesis and then focuses toward gathering quantified data to
prove hypothesis wrong or right. For performing this study, inductive approach will be taken
into consideration as it is based on qualitative method and support investigator in determining the
area of study in detailed and effective manner.
FINDINGS
Innovation is defined as the process of improving the existing product or services in order
to meet up with the demand of target market toward a particular brand. Effective business
management required an organisation to continuously work over improving its operations or
services in such as manner that it can provide maximum satisfaction to changing need of
consumers (Leonidou and et. al., 2018). According to the view point of Jesse Nieminen, 2018,