Managing Innovations in Business: Lingo24 Case Study Analysis

This report provides an executive summary of Lingo24, a UK-based translation company, focusing on its innovation management strategies. It explores Lingo24's history, existing innovations like Translation Memory, Stepes, Linguee, process automation, and machine intelligence, and their impact on the company's capabilities and competitive advantage. The report also discusses the translation industry's evolution, including mobile optimization, multilingual SEO, and the rise of machine translation. It analyzes the challenges and future prospects of the industry, highlighting Lingo24's adaptations and growth within the dynamic market. The report covers various aspects of the company's innovations, including project management, strategies, technologies, and its ability to create value for its customers. It also analyzes the company's expansion into different countries and the challenges it faced in making innovations to become a leading translation service provider.

Managing Innovations In
Business

Executive Summary
This report will cover the fields of Innovations management and how it will help in the
managing and implementing the innovations in the company and hoe it will increase the
companies effectiveness through innovations. In this report Lingo24. is taken as an organisation,
which is a U.K based translation company, which provides translation services in more than 200
languages in more than 75 countries. This report gives a brief about an organisation it will
discuss about the achievements of the company in the various fields. This report will also discuss
about the history of organisations innovations what are its past, present and future innovations
and due these innovations what are it capabilities in future to face the competition.
This report will also shed some light on the translation industry, on what situations it is
operating in the market, what are the challenges that an industry is facing and what will be the
future aspect of the company.

Table of Contents
INTRODUCTION...........................................................................................................................1
MANY BODY.................................................................................................................................1
Description organisation and its history of innovations..............................................................1
Existing innovations in Lingo24 and its Capabilities. ...............................................................2
Translation Industry in 2016.......................................................................................................4
Conclusion.......................................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
Innovations in Business may be defined as the process of implementing ideas and
innovations in the goods and services which will create the values for the company for which
customers are willing to pay. Innovations management is the managing and implementing the
innovations and to manage the companies effectiveness through innovations. It focuses on the
different aspects which includes project management, strategies, technologies, finance
entrepreneurship etc(Schaltegger and Wagner., 2017). In this report Lingo24. is taken as a
company, it is the U.K based translation company which provides translation services in more
than 200 languages. This report highlights the organisations innovation history, what are its
existing innovations performances and its capabilities. This report will also discuss about the
translation industry.
MANY BODY
Description of organisation and its history of innovations
Lingo24 is one of the UK's best translation company having its headquarters in
Edinburgh, United Kingdom. It was founded in September, 2001 by Christian Arno. It was
started as an online start-up but after that it opened its different branches in different countries.
There are more than 230 employees working in this company across the globe with a network of
more than 4000 native speaking translators which are professionally trained for providing the
translation services(Winterhalter, Zeschky and Gassmann., 2016). It is ranked 54th translation
company in the world. Total revenue of this company is 9.1 million Euro in 2014. In 2002 this
company was named as the best e-business start-up's in Scotland and its Owner Arno won the
award of young entrepreneur of the year in 2003. Lingo24 also won the awards at digital
business award for Export category and one for the Business to business category. Lingo24
signed a deal of a multinational pound investment lead by the Paul Gregory. Lingo24 also
launched API which allows the customers connect direct with the platform of translation and this
have proved to be successful idea for the company.
Lingo24 has been expanding it business in various companies it has opened its branches
in Romania 2005, New Zealand in 2003 and also in Panama in 2008. It is the fastest growing
translation company with the 57% of growth in the international sales. Lingo24 has been
awarded for various segments which highlights its success in the translation industry.
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There has been number of innovations from the start-up till present day. Lingo 24 has to
face number of challenges while making innovations in its business in order to become one of
the leading translation service provider. It have made changes in its technologies , it previously
depended on the simple automatic translation technologies but in present scenario it has made the
new advancements it in its technology and has enhanced its capabilities of translations. First it
was providing translations in limited languages and that too in the limited countries but it has
been successful in expanding its business in different countries(Kim and Min., 2015. ).
Previously company were providing its services mainly by the listen and learn in which the
persons have to listen and it depended up on its capabilities how much he will grasp and learn. It
had limited software for the translation which could only translate the limited languages for the
company. The speed of translation was very low. Lingo24 was not provides its services 24/7. As
the size of the company was small it was easy for the company to manage it affairs of the
business. Company had only limited tools of translation but with the change in technologies it
has made the company to avail different tools of translation(Zimmermann, Rentrop and Felden.,
2014). Lingo24 provided their services with the medium quality standards but it has now updated
its quality and are focusing on the quality parameters. Lingo24 has its web presence on through
its website but it has become active on the various social networks like Facebook, Instagram,
Twitter etc in order to make its presence on the social networking sites.
Now the company is developing and making innovations in its business to attain more
feats in future.
Existing innovations in Lingo24 and its Capabilities.
There has been a shift of innovations in Lingo24 which has made it to be the worlds
leading translation service providing company. In the years of experience, translation industry
has increased the levels of expertise within the various fields like translation of technical
manuals, providing the translation in the complex financial sectors and also the copy writing of
different foreign languages. At present Lingo24 is providing the personalised as well as
professional services to more than 70 countries across the world which has led to major
innovations in their business processes. Now this approach has led Lingo24 to focus on the brand
building, new marketing innovations, new researches, building of the new sites which reflect the
culture, behaviour, ethics of their business which helped the company to gain the lead and
engagement(Murswieck and et.al., 2017). Lingo24 have increased the number of services that
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they offer to the customers. It has included translation services, localisation consultancy,
machine translation, app localisation, CMS integration, and also the international marketing
services. It has establishes its business through different industries Business to Business E-
commerce, Business to Company E- commerce, Technology and Engineering, Human Resource,
and also in the Travel and tourism. Lingo24 has made the innovation of providing the service
beyond the words, and has also focused on the its reliability and also provides the value for
money in delivering its services(Gureva and et.al ., 2016). They are inspiring the people who are
passionate, energetic, a team player and have positive attitude towards others. Lingo24 have
made the change in its translation style and have adopted the fully managed translation with the
style of providing fully professional translation services all across the globe.
Current innovations that exists in Lingo24 are :
a) Translation Memory: Translation Memory is a date base which stores the translation that
Lingo24 have completed. In this translations are grouped and divided in to the various segments
which includes sentences, phrases, headings etc. In this system translations are recognized with
new document. This system also allows the segmentation various industries and provides
translation in new documents like finance, sports, law etc. it also help in making the suggestions
of translation more accurate and precise. It helps in the speeding up the translation process. It
also has the innovation of more the user translates better result he or she will get(Etemad and
Dulude., 2018).
b) Stepes: It is a app of the translation which is used by the smart phone users, that allows it
customers from all around the world to translate. In this app translators can provide the jobs and
can work for them any time anywhere a translator wants. It provides the translator a ratings on
the basis of the quality of work that they produce. With the help of this app a translator does not
need to work from the office or from the home he or she can do it on the go and even without
using a laptop. With this app innovation Lingo24 are able to produce almost 100% quality
assurance translation service to its customers.
c) Linguee: A company made a innovation in making the website and app which is called
Linguee, it is a bilingual dictionary app and the website which is specially been designed for the
translators which helps them in translation. It is also useful the language learners. When a user
uses this app or website he or she is presented with huge number of sentences with the examples
on the internet for which the word has been used. This system helps the user to understand how
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the word in a given language operates. This system also allows the user to find the meaning of
the entire phrase or a sentence and also user will come to know how it has been translated by
others.
d) Process Automation: As the translation companies are facing the a huge competition in the
translation industry, so they have to update their process and to make the innovations in their
processes of providing the services to its customers. Lingo24 has used a technology of digital
transformation which helped them to develop a next generation platform for the technology. This
technological platform has enabled a company to to serve its customers in the better ways in the
current environment. A company is using various technological platforms like Content
Management System which is also known as C.M.S , Product Information Technology (PIM)
and Marketing Automation Platforms it has increased the capabilities in serving its customers in
better way and will increase the satisfaction of its clients and customers. In future it also has the
capability to make use of Artificial Intelligence (A.I).
e) Machine Intelligence: This innovation has helped and increased the capabilities of making its
translation fast and effective. As the content, volumes, and knowledge is growing rapidly in
present globalization period so it has become necessary for the companies to get expertise in
translation process which can be achieved by using machine intelligence which can not be
achieved by the human intelligence.
Translation Industry in 2016
Translation Industry has gone a under a huge transformation and kept on evolving the day
from its existence(Managing Innovations in Business, 2017). In 2016 there are various changes
that took place in translation industry like Mobile optimisation, as 3.2 billion people had access
to internet in 2016, which will make the mobile optimisation crucial. Majority of potential
customers have been operating in languages a company can reach them through websites, apps
or both. In 2016 multilingual SEO's will become essential which had resulted in increasing the
capabilities of transforming the contents on the web. An emphasis have been laid on the Machine
translations because it is fast and accurate service provider of translation industry, it is also
claimed that new machine translation technologies will spark in the market(Hengstenberg.,
2017). There will be increase in the investments researches, infrastructure and other resources
which will enhance the capabilities of translation industry. It is also expected that more and more
companies will jump in this industry so there are the chances of huge expansion of this industry.
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This industry will also generate huge employment for the people interested in the jobs related to
translations (Managing Innovations in Business, 2015). As number of translation words increase
it will also increase the jobs in this industry but the job itself is becoming smaller. There will the
chances of increasing the mergers and acquisitions within the industry as in the past years
smaller and bigger translation agencies have joined major translation companies or have been
acquired by major translation companies to increase their business within the translation
industry. Translation agencies are willing to to make investments in other agencies in order to
grow their client base or to gain the competitive advantage over its competitors(Wihlborg and
Hansson., 2015).
Translation industry will also witness the lower rates from the translation agencies,
clients etc but it is difficult to say that whether it is the all time low or further low will be
achieved or has been already achieved. In spite of all this translator are facing and will face the
difficulties in future because of low wages provided to them. There are the chances of growth in
counter movements but major chances are that translators have to lower their rates of work in
order to receive the work of translator.
Predicting the future of translation industry is difficult as the industry is in full swing but
there are still ups and downs in this industry but it is seemed that this industry has bright future
as per the forecasts there will a stable rise in this industry and will give rise in the amount of
work and more and more companies will start joining and investing in this industry(Harada.,
2015 ).
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Conclusion
From the report it is conclude that there has been an great evolution in the innovations of
Lingo24, it have moved from traditional to modern ways of proving the translation services to its
customers which has led to the growth of its business in the industry. It is also concluded that
there are number of innovations that are existing in the company how the company have made
innovations in their technology, business presence, marketing trends etc. This report also
concludes that how translation industry were operating in 2016 and what its future aspects and
what are the challenges to be faced by the translators. But over all Translation Industry have a
bright future.
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REFERENCES
Books and Journals
Etemad, H. and Dulude, L.S., 2018. Managing the Multinational Subsidiary: Response to
Environmental Changes and the Host Nation R&D Policies. Routledge.
Gureva, M. A and et.al ., 2016. Management of innovations and innovative process: concept,
essence, classification and diffusion. International review of management and
marketing, 6(6S). pp.147-153.
Harada, T., 2015. Managing Innovation Probabilities: Core-driven vs. Bottleneck-removing
Innovations. Business and Management Studies, I(2). pp.66-76.
Hengstenberg, Y. P., 2017. Innovate or die: the need for business model transformations: a case
study on business model innovations through professional service platforms(Master's
thesis, University of Twente).
Kim, S. K. and Min, S., 2015. Business model innovation performance: When does adding a new
business model benefit an incumbent?. Strategic Entrepreneurship Journal, 9(1). pp.34-
57.
Murswieck, R and et.al., 2017, September. Cultural Differences in Involving Customers for
Creating and Managing Innovations to Success. In European Conference on Innovation
and Entrepreneurship (pp. 823-828). Academic Conferences International Limited.
Schaltegger, S. and Wagner, M., 2017. Managing the business case for sustainability: The
integration of social, environmental and economic performance. Routledge.
Wihlborg, E. and Hansson, P. O., 2015. Managing quality in education in a multi-level
governance system–strategies, constraints and innovations. In NORKOM.
Winterhalter, S., Zeschky, M. B. and Gassmann, O., 2016. Managing dual business models in
emerging markets: an ambidexterity perspective. R&D Management, 46(3). pp.464-479.
Zimmermann, S., Rentrop, C. and Felden, C., 2014. Managing shadow IT instances–a method to
control autonomous IT solutions in the business departments.
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Online references
Managing Innovations in Business. 2015. [online] available through <https://www.k-
international.com/blog/5-translation-industry-predictions-for-2016/>
Managing Innovations in Business. 2017. [online] available through
<https://www.vertaalt.nu/blog/five-trends-that-defined-the-translation-industry-in-
2017/>
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