Advanced Diploma Project A: Kent Institute Business Innovation Project

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Added on  2020/12/30

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This project examines business innovation strategies for Kent Institute, an Australian educational institution specializing in Information Technology. The project identifies opportunities for introducing new courses, analyzes market competition, and evaluates the cost-benefit analysis of potential innovations. It focuses on social media strategies, comparing Kent Institute to Curtin University. The project explores business relationships, processes, and methods, proposing innovations like email marketing and differentiation strategies. It addresses opportunities, goals, risk management, and recommendations for innovation implementation. The project emphasizes the importance of adapting to new technologies and policies to enhance student learning and institutional growth, including the implementation of new technologies, online marketing, and redesigning course materials to facilitate student learning and knowledge enhancement. The project concludes with recommendations for adopting new technologies and strategies to foster innovation and growth within the educational sector.
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Identify and implement business
innovation
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INTRODUCTION
Kent institute is a successful Australian institute that attract students by applying business
strategies into its main stream that is Bachelor of Information Technology. It offers this course to
localized as well as global students in the world. They mainly focuses on their marketing
strategies and different social media platform to advertise its services into the market. Other than
providing services in information technology it also serves in fields of accounting, business,
management and marketing. It has redevelop its activities to achieve its goals in the marketplace.
It enhances improvement in customer services, delivery of core services redesigning of delivery
of products, market development and product development.
Problem:- To identify the prospect in introducing new courses, barriers, cost benefit analysis,
time required and the strategies used by competitors in delivering the same course structure in
their institutions.
Solution:- To focus on the social media strategy
MAIN BODY
Business markets, customers and methods of doing business
As Kent is the educational institute that provide services to students which offers the
course of Bachelors in Information Technology. It adopted various marketing strategies to
advertise its services in localized as well as at global level. Customers are the students who are
doing there graduation in different fields such as accounting, business management and
marketing. As the business is using various methods to introduce information technology courses
to the students. As it is using social media marketing to advertise its products in the market. It
also redevelop its activities of institution to achieve the goals of it. As it is improving services of
customers by providing them best facilities as compared to other educational hub in Australia.
Comparison of current market and customer base
Kent Institute Curtin University
It is an educational institute that provide
courses like information technology,
accounting, business management and
marketing.
It is an Australian university that is based on
research projects
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Currently it is offering bachelors in
information technology course all over the
world.
It provides research in various fields such as
resources and energy, information and
communication, ageing and well being etc.
There are 2000 students studying in Kent
institute.
In Curtin 3000 students are doing research on
different projects.
As it is the only educational institution that
provide various courses to students by offering
less fees from them.
It only provide research project to students.
Contrast between current business relationships, business processes and methods of doing
business
As Kent is having a good relationship with other businesses in the market. As it is
providing different courses to students. It is improving its business processes by providing
students proper training to upgrade their skills according to courses they are doing that helps
them in grasping concepts of subjects easily. As Curtin provides research training to the students
that helps in doing their project on time. As Kent is using training method in its institution to
enhance study in it. Curtin is using different research methods to facilitate the learning of
university to students.
Innovation and reform of aspects of the business
As Kent is using different strategies for bringing innovation in the institution. It can use
email marketing through which it can attract more students to the institution. By adopting
differentiation strategy also it can offer many services that can be different from its competitors.
As students are attracted more to the business that offers differentiated product in the
marketplace. This will helps in bringing new innovation into the institution. Innovation may lead
to attract more students towards the institution. As it may focused on approaches that will help in
bringing innovation into the institution.
Opportunities with business goals and objectives
As Kent is redeveloping its activities to achieve the goals and objectives of institution as
improving customers services by providing different facilities to the students and it can be
improved by taking into consideration that in it is going in right direction or not. It also redesign
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the delivery of product by providing them methods, strategies and techniques that will be deliver
to the students. It is also important to increase the development the study material, guide and
activities for the students to achieve its goals. Redesigning the delivery of products also helps in
increasing delivering courses that are offered into the business.
Changes in degree and modification in course
As Kent is providing Bachelors in information technology so for that it require lecturers
to teach the students, notes, software for the students to learn new things. Hiring experts who can
have knowledge of operating that software's. It also have to hire new technologies for the
students that will help them in enhancing their knowledge in IT sector. This will also bring in
various aspects of innovation in institution. Changes in the degree in institution that will help in
enhancing new strategies in the institution.
Risk management analysis
Risk that is faced by the institution are recruitment of student, funding, tuition fees and
information system and technology. All these are the risk for the institution that can analyze by
the management. As adopting new technology in the business will lead to big risk for the
institution as if any technical error comes that will lead to disruption of that system. Institute
have to formulate the plan accordingly that can help in reducing the risk. As by proper
arrangement for tackle the technology that is being implemented in the institution. The risk of
recruitment can be reduce by providing advertisement through social media so more students are
come and take admission.
Rank opportunities
As Kent institute is having opportunities in coming in the list of top institution in
Australia. As it is having more opportunities to expand its educational sector by offering
different courses to the students that can help in getting success for the institution and getting
them proper education to the students. As it has many opportunities in gaining attraction of
students that can take different courses from the institution. If an institution is providing better
facilities to the students more students are attracted towards it. If there is any opportunity for
institution then it will lead to success for it.
Opportunities that will lead to innovation
There are so many opportunities that will bring innovation in the institution. As bringing
new software in the institute will lead to better learning for the student. There is many
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opportunities to learn new things new concepts and methods that will lead to enhance the
knowledge of student. If the technology that is being used by institution will lead to gain more
knowledge to the student. More knowledge help in getting new ideas into institution that will
bring innovation and helps in growth of it. It can introduce new technology in the institution that
will facilitate easy learning for students. Online marketing of different courses also lead to
innovation for the institution that will help in development of various plans in the institution.
Aspects of business innovation
As it can use various online technologies in the institution that will help in redesigning
the concept of study material that is being provided to the students. Redesign of curse material
will help in learning new concept and methods for students to learn new strategies. As through
online technologies by sending mails to the student will help in enhancing the knowledge of
student. Innovation can be done in the form of changes in the policies and procedures that will be
undertaken by the institution.
Implementation of innovation
If new technology is introduced into the business that will enhance knowledge as well as
gaining more concepts to the students. The innovation may lead to many changes in the
institution and it have to adopt many policies and procedures into it so students also have to
adapt in that changes that is being done in it. As it will become easier if innovation will be
implemented into the institution. As it is important to implement innovation that will lead to
success for the educational institution as it is very important to implement innovation for success
of it.
Recommendations
From the above study I can recommend that educational institution are offering many
degrees to the students that will enhancing their knowledge and make them expert in different
fields. As I recommended that for bringing innovation in the education sector institutes have to
adopt new technology that will help in growth of students.
REFERENCES
Books and Journal
Pisano, P., Pironti, M. and Rieple, A., 2015. Identify innovative business models: can innovative
business models enable players to react to ongoing or unpredictable trends?.Entrepreneurship
Research Journal.5(3).pp.181-199.
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Heyes, G., Sharmina, M., Mendoza, J.M.F., Gallego-Schmid, A. and Azapagic, A., 2018.
Developing and implementing circular economy business models in service-oriented technology
companies. Journal of cleaner production.177.pp.621-632.
Herrera, M.E.B., 2015. Creating competitive advantage by institutionalizing corporate social
innovation. Journal of Business Research.68(7). pp.1468-1474.
Yang, M., Evans, S., Vladimirova, D. and Rana, P., 2017. Value uncaptured perspective for
sustainable business model innovation. Journal of Cleaner Production.140. pp.1794-1804.
Foss, N.J. and Saebi, T., 2017. Fifteen years of research on business model innovation: how far
have we come, and where should we go?. Journal of Management.43(1).pp.200-227.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer, Berlin,
Heidelberg.
Remane, G., Hanelt, A., Tesch, J.F. and Kolbe, L.M., 2017. The business model pattern database
—a tool for systematic business model innovation. International Journal of Innovation
Management.21(01).p.1750004.
Goffin, K. and Mitchell, R., 2016. Innovation management: effective strategy and
implementation. Macmillan International Higher Education.
Online
What in innovation.2019.[Online].Available
through<https://www.forbes.com/sites/michellegreenwald/2014/03/12/what-exactly-is-
innovation/#73e838035e5a>
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