Innovation and Business Development Report: Ideas and Strategies

This report delves into the realm of innovation and business development, focusing on the generation of a new business idea: a pen-structured water purifier. It analyzes the problems faced by organizations, particularly those related to customer needs and market challenges. The report highlights the benefits of this innovation, including its portability and ability to analyze water quality. It also explores strategic responses using the Osterwalder and Pigneur model, option analysis, and feasibility of the product. The report emphasizes the importance of identifying target markets, meeting customer needs, and mitigating risks. It concludes with a recommendation for the pen-structured water purifier, emphasizing its unique features and potential for success in the market, especially for travelers.

Running head: INNOVATION AND BUSINESS DEVELOPMENT
Innovation and Business Development
Name of Student
Name of University
Author Note

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Table of Contents
Introduction................................................................................................................................2
Problem......................................................................................................................................2
Generation of a new business idea.............................................................................................4
Benefits......................................................................................................................................4
Strategic responses.....................................................................................................................6
Option analysis of the project....................................................................................................6
Recommended solution and feasibility......................................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................9

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Introduction
Issues related to customers and marketing can be related to the problems faced by the
organisations. Due to these issues faced, it is essential that the organisations develop
innovative technique that is essential for the production of unique products. The innovation
can help in enhancing the production of the companies along with the services. Collaboration
as well as the communication that are present at work can help in analysing the performance
and promote the innovation tactics that exist in an organisation. Creativity and innovation are
required so that the functioning of the business organisations can be considered. Constructive
ideas such as brainstorming and fishbone analysis can help in generating ideas that can be
effective for innovation. The systems help organisations to progress in the business market.
The aim of the report is to focus on the innovation of consumer goods that can help in
the development of an industry as well as an organisation. Sustenance in the market need to
be developed so that the capabilities of the organisations can be developed. In this regard, it
can be said that the idea generated for developing a pen structured water purifier can be
applied in the market. This can be used to assist customers that travel around the globe. This
is mainly because the water purifier can be carried around and the level of salinity or toxic
contained in the water can be analysed. At the same time, the heavy metal contents of the
water can be analysed so that the pen structured water purifier can be easily applied. The
industries can benefit by identifying the needs of the customers so that effective changes can
be made in the organisations and at the same time, the business can continue with help of
generating new business ideas.

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Problem
The problems that the industries may face while developing and promoting the
product can be related to the customers as well as the market. The biggest threat that can be
faced by the managers of the organisations is that convincing the customers about the
viability of the products. The promotion of the products requires financial challenges that
may be faced by the companies. The convincing of the products in the market is to ensure
that the base of the products are utilised in a proper manner. According to King and
Baatartogtokh (2015), the issues may be mainly due to the lack of identification of the target
markets. Every organisation need to identify target markets so that the effectiveness of the
products can be maintained. At the same time, meeting the needs of the customers is also
another important aspect that the manufacturing companies need to undertake.
Therefore, in order to ensure a sustainable position is maintained in the market,
organisations adopt disruptive innovation. This can be achieved with artificial intelligence
and application of machines that can help in enhancing the brand experiences of the buying
behaviours. As stated by Pisano (2015) the application of such innovative process can help
new markets to develop value and ensure that the network of the customers is maintained for
the effective conducting of the business. Therefore, loyalty of the customer as well as the
profitability of the business can be maintained with the application of the innovative process.
At the same time, the key resources that is available for executing the plan is another
important factor for developing the innovative product.
Therefore, it is necessary to resolve the issues that exist in the organisations. The
promotion of the activities helps in the smooth functioning of the business and ensures that
the innovation process can help in increasing the reputation of the company in the market.
Risk factors that are required to be identified provide an opportunity to plan and mitigate the
factors that help an organisation to develop their business. According to Reinhardt (2013), the

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innovation and the new business ideas can help in the promotion of the companies and at the
same time ensue that the innovated products can adhere to the requirements of the business.
Mitigation of the risk factors can help in maintaining the business functions that can help in
the effective management of the markets.
Generation of a new business idea
The new idea that is in focus aims at identifying the manner in which continuous
innovation can be maintained in the organisation as well as the industry. The innovation is
based on the needs of the customers and the fact that such innovation can help in identifying
any type of constraints that may be implied within the organisations. Therefore, the idea that
has been generated focuses on the development of a pen structured water purifier that help in
identifying the needs of the travellers as well as the people residing in the rural areas. The
issues that are faced by these customers while travelling to different places can be mitigated
by the application of the innovation tactics. The problem that is faced is mainly related to
adopting with the water contents in foreign countries. The application of the pen structured
water purifier can be used to purify the water and analyse salinity as well as the toxic
contents that exist. The portable feature can help customers to carry this product anywhere
and ensure that the health and safety of the body can be maintained.
Benefits
Disruptive innovation ensures that artificial intelligence can be used to function and
enhance any new business ideas. According to Avital et al. (2014), the enhancing of the water
purifier can help in bringing about changes in the business model that can help in the
effective system analysis of the potentials of the organisations. The needs of the customers
can be addressed by analysing the demands and the changes that are to be maintained. As
observed by Osterwalder et al. (2014) the water purifier that the organisations need to

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maintain can be developed in a manner that can help in the effective development of the
product. The uniqueness of the product is mainly the fact that portability can be applied that
can ease the problems related to the consumption of unhealthy water. Digital personal
assistant can be taken into consideration so that it can affect the customers and facilitate the
knowledge related to the effective use of the products (Reinhardt, 2013).
Identifying the different issues that an organisation may face may result in the
development of the products in an improper manner. For example, the usual constraints that
the organisations may face include the financial, technical and operational issues. The needs
of the customers need to be analysed so that the development of the product can be done
based available resources. Coping up with the demand of the customers need to be such that
it meets the demands of the customers based on the requirements of the innovation tactic
(Joyce & Paquin, 2016). For example, inclusion can be made that help in detecting the Ph
level in the water. The application of potassium permanganate can also be considered as it
can be reused in the industry.
At the same time, certain limitation that may be faced while implementing the
innovative nature is the fact that the availability of the Silver ion tablets may be a challenging
factor for the companies. This is because this particular resource is less in the atmosphere and
marketers need to conduct explicit digging and exploring to extract such elements. Thus, the
adherence to the technologies required for innovation can enhance the scope of success of the
product in the innovative business market (Dudin et al., 2015). Therefore, it can be said that
identifying the potential needs of the customers can bring about a positive influence in the
development of the product. Thus, a target market can be identified that can help in the rapid
growth of the product in the international market. The target market in this case are the
travellers.

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Strategic responses
In order to ensure that an effective analysis of the innovation can be made, the
application of the Osterwalder and Pigneur model can be used for managing the value
proposition of the product. The value proposition can ensure that the product created serves
the purpose of the customers and ensure the longevity of the product. According to
Osterwalder and Pigneur (2013), the business model canvas developed can help in the
strategic management of the products particularly during the instances that require start up
costs. In this regard, it is necessary to identify the cash flow that is required to spend so that
the companies can develop the product in a proper manner. Promotion and innovation in the
industry can be carried along that helps in the effective recognition of the business models.
The business model helps in addressing the value proposition that the innovative product may
incur (Corsi & Di Minin, 2014). The infrastructure of an organisation can also be included
that highlights the organisational culture and finances required for the development of the
product. The threats from the competitors need to be analysed so that effective transformation
of business and penetration in the new markets can be considered.
Option analysis of the project
In the light of the analysis and the effectiveness of the business model, certain success
factors can be considered that can help in generating new ideas for the product. For example,
the target market identification is one of the critical success factors that need to be considered
by the organisations. The purification of water can help people that are health conscious as
well as people that like to travel frequently. The purpose of the pen structured water purifier
is to ensure that any harmful toxics are identified and eliminated from the water bodies.
According to Christensen, Raynor and McDonald (2016), the critical success factors of the
organisations mostly depend upon the innovation aimed at meeting the requirements of the

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customers. Identifying the need of the customers can help in the effective development of the
process mostly because modifications can be made in case of any failure in the business
process. The critical success factors that need to be managed in the organisations can focus
on the needs of the industries as well as the market structure of the industry.
Recommended solution and feasibility
The feasibility of the innovative idea is that it can be analysed by considering various
steps. These steps can help an organisation to maintain proper innovative ideas and ensure
that the continuous innovation techniques are applied so that the development process can
take place in a proper manner. In the words of Avital et al. (2014), the feasibility can help the
product to remain unique and ensure that other competitors cannot replicate the market
development of the products. One can argue the fact that portable filtering device is an idea
already developed, the fact that the structure of it can be fit into a pocket is one of the unique
qualities that have been developed in the business. As such, the portable water purifier may
deserve the necessary promotion for its growth in the industry. At the same time, the
inclusion of the Ph level tester can help in the development of the product and assist in
identifying any chemical imbalance or toxicity in the water level. Therefore, the travellers
can remain safe and ensure that they lead a healthy life in the society. Therefore,
development of products that help in maintaining sustainability can also be continued in the
industry. The feasibility is based on identifying the needs of the customers and facilitate to
meet the purpose of attaining customer satisfaction in the market.
Conclusion
Thus, it can be said that satisfaction of the customers is the primary necessity of every
business. This is the main reason for innovating products and ensuring growth in the
business. The application of the pen structured water purifying device can help in

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constructing an effective business in the market. The changes that have been made in modern
business industries are mainly based on the marketing dynamics. The application of the
business model canvas can help in developing the value proportion of the business.

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References
Avital, M., Andersson, M., Nickerson, J., Sundararajan, A., Alstyne, M. V., & Verhoeven, D.
(2014). The Collaborative Economy: A Disruptive Innovation or Much Ado about
Nothing?.
Christensen, C. M., Raynor, M. E., & McDonald, R. (2016). What is disruptive
Innovation. The Encyclopedia of Human-Computer Interaction, 2.
Corsi, S., & Di Minin, A. (2014). Disruptive innovation… in reverse: Adding a geographical
dimension to disruptive innovation theory. Creativity and Innovation
Management, 23(1), 76-90.
Cortez, N. (2014). Regulating disruptive innovation. Berkeley Technology Law Journal, 175-
228.
Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative
business model canvas in the system of effective budgeting.
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design
more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.
King, A. A., & Baatartogtokh, B. (2015). How useful is the theory of disruptive
innovation?. MIT Sloan Management Review, 57(1), 77.
Muhtaroglu, F. C. P., Demir, S., Obali, M., & Girgin, C. (2013, October). Business model
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Conference on (pp. 32-37). IEEE.

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Osiyevskyy, O., & Dewald, J. (2015). Explorative versus exploitative business model change:
the cognitive antecedents of firm‐level responses to disruptive innovation. Strategic
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Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design:
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Pisano, G. P. (2015). You need an innovation strategy. Harvard Business Review, 93(6), 44-
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Reinhardt, U. E. (2013). The disruptive innovation of price transparency in health
care. Jama, 310(18), 1927-1928.
Wallin, J., Chirumalla, K., & Thompson, A. (2013). Developing PSS concepts from
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