Innovation and Technology in Business Development Report

This report delves into the critical role of innovation in contemporary business development, emphasizing the transformative impact of technology. It explores how businesses can gain a competitive edge through advancements like cloud computing and artificial intelligence, using the XploR cane as a case study to illustrate the practical application of these technologies. The report examines key factors such as pricing strategies, feature enhancements, and promotional techniques, highlighting the importance of core processors, brand value, and sensor technology in driving business success. It underscores the significance of adapting to market demands and leveraging technological advancements to meet consumer needs, ultimately concluding that strategic investment in innovation is essential for sustainable growth in a competitive environment. The report also touches upon the use of sensor technology in different applications and its importance in future technological innovations.

REPORT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
CONCLUSION................................................................................................................................6
REFERENCE ..................................................................................................................................7

INTRODUCTION
Innovation is an application providing better solution for meeting unarticulated need,
new requirement and advancement. Also in field of technology innovation is regarded as key
element. Information technology is a vital cog in growth of a business environment. In digital
market advancement of innovative ideas have eased the way of doing business as well as helped
an organisation to grow in business world say online transaction which can be accessed from
anywhere by different platform or a driverless car which is expected to be a revolution in car
industry in coming future(Schwalbe, 2015 ). For any business organisation to gain competitive
advantage in business world they must capitalize on advancement of their technology.
TASK 1
There are different researches are going on in market which target in easing life of
human being. Apart from easing life of people business tries to have competitive advantages
with innovative technologies and business ideas . These competition in business market will only
benefit the people in need as it will allow organisation to sustain their normal life in social world.
Cloud computing and Artificial intelligence are the future in business organisations which must
be used effectively. Combining different technological aspect in business organisation will
generate a new innovative idea. Like XploR technology is a combination of GPS and AI which
have allowed people to recognise things and people which has made their life easier. Say in
airlines reservation system use of cloud computing has helped in connection all computers
under one server which helped in connecting the computer to one portal or server system hence
provide accessibility from any platform or anywhere not only airlines it is found in railway,
movie tickets, electronics bills or online shopping(Tambe, 2012). Apart from this there are other
areas of innovation.
XploR cane – Face recognition tool
It was tested and developed at Birmingham city University. It uses technology and
features of smartphones to differentiate familiar faces from crowd. It uses GPS for guiding and
navigation system having a range between 10 - 30 metres. This is a very effective device for
visually impaired people for identifying their known ones.
Working of XploR cane - This device is connected to GPS of a cellphone. It detects
images or faces of the people saved in their SD memory card, then it will prompt people and

guide them through the way to reach them through microphone. It also use Bluetooth in case of
network failures. It is considered as marvel healthcare industry, it will help visually impaired
people to be independent up to an extent.
Through a survey it is being found that over 2 million people in UK are blind i.e. 1 in 30
is blind. So it a big area of concern for National Health Department of UK and this innovation
will be productive. This initiative is accepted by health institution of France and will soon
develop that technology in market place
Illustration 1: working of XploR cane device
This technology has evoked many IT companies of UK to work on this technology, to
gain competitive advantage they are modifying and adding new fractures which will help them to
grow and dominate in competitive market some organisations like Attendaa- cloud computing
giant in UK, Avecto – a security software , The test people- provides digital services . Are some

of the organisation which are competing to gain competitive advantages. These technology has
planned to increase feature of their product so that they can make available their product at
cheaper rate to people. Currently many health organisation across United Kingdom are planning
top provide this technology to National Health Services so that may poor can make benefit
thorough through this technology.
Use of XploR cane technology in airline industry
This technology can guide a person through different pass-ways in airport so that they
can reach their destination very easily. This can be turned out to be revolutionary aspect as no
personal assistance or dependency is needed for person to travel to different destination. Several
works are going on in this technology which will make a person independent in travelling. Many
auto mobile organisation are working on this technology to increase driving experience by
manufacturing different driverless cars.
Effectual use of technology for gaining competitive advantages
Technological aspects are important but there are some other factors based on which
manufacturing industry can makes business in market place. Hence collaborating technology
with marketing will allow the business to flourish in business market .Some of the factors which
have been mentioned below for using technology to gain and control are being discussed below.
Pricing – Jon Ambrose Fleming states that innovation will get double in 18 months. So
with increase in innovation and competitor in market it is important to sell the product at
relatively cost friendly rate so that it is affordable to most of the people in market. Pricing
always have an direct impact on profitability of an organisation(Xiang, 2015). Many company
use price strategy in sustaining and competing in market place. Like in airline company it there is
a stiff competition as people can choose from different airline organisation. So companies have
to manage their pricing for getting competitive advantage in market. place. Innovation is all
about using technology to a good effect like XploR cane it is used for blind people so companies
in all over UK will compete in increase their productivity like modification or add features to the
gadget and decrease it prices. Different organisation use different innovative tools for analysis of
market. Pricing strategy must not me only profit making but it must be gaol oriented to help
poor like devices which they are producing must be available and affordable to poor people
also. This combination of innovation and ethical value will allow an organisation to have
competitive advantage over other in market place.

Features – Features are important aspect for buying a product it will increase volume of
production by developing value proposition ans developing unique identity. There are some of
the features for creating a successful brand.
 Audience knowledge - it is important to aware people about the technological advantage
which will increase their brand value among other competitors . The organisation must
make certain promotion of this technology so that they can reach the people in need.
 Uniqueness – for having technological advancement a company must have uniqueness in
product like XploR cane is having a unique feature which will help may blind people in
their day to day life. Organisation must make sure that this helps the organisation.
 Consistency -its about big punctual in their work many technological organisation in this
work are working constantly to improve the feature of the XploR cane as well as make
the available at cheaper rate.
People are used to to latest technology and updated products and keeping pace with them will
help in better production also an aspect of having dominance in market place
Speed - It refers swiftness of act or responses against a situation regarding to devices a
company working on some feature must make it fast and accurate in their response(Lloyd,
2017). Like Audi keep on modifying their product by increasing speed and controlling
efficiency of that the car for doing so they are working on Intelligent Transportation System and
developing Radio Frequency Identification Technology (RFID) works on the feature of hall
effect. Both the features are used for effective use of GPS system and control of devices and for
XploR cane there are many area for development like it is not possible to have network
connectivity in some areas so it will fail due to connectivity loss.
There are some of the factors which tells why speed and accuracy are important factor for doing
trading practices in market.
Promotion – promotions can be made thorough digital as well as printed media. For
doing business in market of innovative technology it is essential to promote them. Research on
automation is happening from past decade but gained popularity recent times(Guler, 2015).
Latest technologies must be broadcast so that more people can rejoice benefit from it like
promotion of XploR cane has helped the technology to reach wider area of market and many
European country loves the idea and wish to adopt it. Innovated products will ultimately help
people in need in future generation. Penetration in wider market area will allow different

organisation flourish their business. There are different medium and tools which help an
organisation to reach out to wider range of customers some of the medium are print media, social
media, internet explorers(Tambe, 2012).
Core processor – It is regarded as integration of many processor in a CPU unit. For
process like automation a processor must be able to perform multiple function. Speed and
performance of any device must depend upon clock speed of core processor. In automatic car
where multiple functions are to be performed a since core processor cannot perform the task
instead bus transmission are used which helps in connecting different functions to only one core.
Initially in sensor technology different processors are uses which increased the cost of
production but through innovative idea of VLSI (Very Large Scale Integration) it has decrease
microchip sizes and expanded connectivity through bus connection(Buabeng-Andoh, 2012).
So ultimately cost of production has decreased while using sensory products. With advancement
in ULSI(Ultra Large Scale Integration) the production cost will decrease ultimately. These
technology have decreased the size of side of device hence it is easy to carry.
Brand value – It is the value of product in market place companies dealing in technology
must keep on invention and updating their products otherwise they will not able to match other
competitor in market place. For maintaining brand value in market place it is important to
continuously do market analysis which will help them to predict and understand the need of
people as provide services accordingly(Holtshouse, 2013). For analysing a market there are
different analytical tools are available which gives exact wants and need of an organisation e.g.
Many business organisation in UK have sensed profit by making devices for blinds as the
number of blind people in UK are very high. Different brand in UK market are increasing their
brand value which so that they can make their business flourish in future market(Bloom, 2014).
Sensor technology – apart from other factors sensor is an very crucial element in an
technological advancement. Sensors are available for different types of applications like
temperature sensor, proximity sensor, Accelerometer, IR Sensor, Pressure Sensor, Light sensor,
Ultra sonic sensor, smoke and gas sensor, touch sensor, colour sensor, humidity sensor, tilt
sensor, flow level sensor(Margetts, 2012). This advancement of sensor technology have helped
the automation process by generating new ideas and innovating new features. In car industry
bulky machines are replaced by sensors which are more efficient and less maintenances are
needed say in automation brakes are controlled by sensors which have more quicker and

accurate response than manual handling. Apart from that it help in testing engineering as it gives
real time analysis of tests which are used to make better survey in process(Schwalbe, 2015). As
surveys are appropriate helps in making an organisation more efficient by removing
technological errors which helps in making better strategies in market place. In future sensor will
play vital role in technology sector due to implementation in different technological innovations.
CONCLUSION
From the report we have concluded that how technology will play role in influencing
business activity in current trend and future market practices . By considering two different types
of innovation like automation and XploR we have observed how sensors technology and GPS
can be helpful in serving the making by effective implementation of them in innovative activity.
For core competence and making effective planning in business market technological factors
like pricing, promotion, core processor, brand value also influence business activities must be
considered. By smarty investing in these new concept it will make a business grow in
competitive environment.

REFERENCE
Books and Journals
Schwalbe, K., 2015. Information technology project management. Engage Learning.
Margetts, H., 2012. Information technology in government: Britain and America. Routledge.
Holtshouse, D .K., 2013. Information technology for knowledge management. Springer Science
& Business Media.
Lloyd, I., 2017. Information technology law. Oxford University Press.
Guler, B., 2015. Innovations in information technology and the mortgage market. Review of
Economic Dynamics. 18(3). pp. 456-483.
Xiang, Z., Magnini, V. P. and Fesenmaier, D. R., 2015. Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal
of Retailing and Consumer Services. 22. pp. 244-249.
Bloom, N., Garicano, L., Sadun, R. and Van Reenen, J., 2014. The distinct effects of information
technology and communication technology on firm organization. Management Science.
60(12). pp. 2859-2885.
Tambe, P. and Hitt, L.M., 2012. The productivity of information technology investments: New
evidence from IT labor data. Information Systems Research. 23(3-part-1). Pp .599-617.
Buabeng-Andoh, C., 2012. Factors influencing teachers' adoption and integration of information
and communication technology into teaching: A review of the literature International
Journal of Education and Development using Information and Communication
Technology. 8(1) p.136.
Online
Innovative Smart Cane For The Blind With Facial Recognition 2015. [Online]. Available
through: <http://www.dailymail.co.uk/sciencetech/article-3090790/XploR-cane-uses-
facial-recognition->.
XploR cane uses facial recognition to spot friends and family in a crowd 2015. [Online].
Available through: <kspot-friends-family-crowd-guides-blind-user-exact-
location.html.2015 >.