MIS500 Foundations of Information Systems: Innovation Report

This research report evaluates the impact of incorporating an Innovation Management System within the Tata Group, a major Indian conglomerate. The report begins by introducing the significance of innovation for business growth and then provides an overview of the company's diverse product categories. The core of the report analyzes the significance of digital disruption in the Tata Group, examining how the Innovation Management System contributes to enhancing customer value and reducing operational costs. The report draws on literature analysis, including books, newspapers, Ted Talks, magazines, and websites, to highlight the importance of business innovation and the role of information systems. The report also presents a critical analysis of challenges related to business innovation, such as managing costs and resources. Finally, the report concludes with recommendations for implementing an Innovation Management System, emphasizing the setting of project timelines and the identification of associated costs. The report concludes that the Tata Group's business growth can be maintained with the help of the Innovation Management System.

Running head: MEANINGFUL INNOVATION
Meaningful innovation
Name of the Student
Name of the University
Author Note

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1. Introduction
Enactment of new ideas and products are very much essential for any commercial
establishment as it help the organization to deal with the expectations and needs of the
consumers (Pono et al., 2019). New business models are introduced by bigger commercial
establishments to deliver better products and services. New IT technologies such as
Innovation Management System are getting incorporated in commercial establishments to
reduce the operational cost and improve customer satisfaction.
2. Statement of topic
The impact of incorporating Innovation Management System in Tata Group which is
initially established in India shall be evaluated in this research report.
3. Background of the organization
There are diverse categories of products which are provided by this private corporate
organization such as automotive products, airline industry, chemical industry, hospitality
industry, IT services, real estate organization, retail industry, steel industry and telecom
industry (Tata.com, 2020). Generation of new ideas and products is very much required for
the growth of this private corporate organization.
4. Overview of the research report
This essay shall highlight the significance of digital disruption in this organization
will the help of Innovation Management System. Literature analysis and critical analysis of
the discussions shall be presented in this essay in a systemized modus. Recommendations
shall be presented in the concluding section of this research report so that the readers of this
research report understands the contribution of Information System to bring business
innovation in a contemporary business environment like Tata Group.

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5. Significance of meaningful innovation
Book
As discussed by Goffin & Mitchell (2016), commercial innovation is very much
significant for commercial business organization to maintain a continuous improvement
procedure. The researcher of this journal helped in understanding that new services can be
introduced with the help of commercial innovation, new business process can also be created
using business innovation. The researchers also added that new business models can be
created with the help of commercial innovation.
Newspaper
As discussed by Rahim (2020), business innovation is very much significant to create
business values from ideas. The writer of this newspapers has successfully identified the
significance of maintaining portfolio of information. The significance of measuring
innovation was discussed in this newspapers in a detailed modus. The newspaper discussed
that the role of the supply chain and the other service providers are very much significant to
bring amount a significant changes in a contemporary business environment.
Ted Talks
Based on this discussion, it can be said that Business Model innovation is very much
significant for the creation of new business innovations ("20 Insightful TED Talks that
Inspire Corporate Innovation", 2020). Stefan Gross Selbeck is the managing director of BCG
digital adventures has highlighted that global organizations such as Uber implements new
business innovation strategies to deal with the expectation of the consumers. From this show,
it can be understood that hyper innovation and business disruptions are a part and parcel of

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every commercial organization and the concept of innovation is directly related with each of
these two topics.
Magazine
Based on the discussion of Boss Magazine, it can be said that cool and innovative
business ideas can be obtained from the innovative approach which is maintained by
commercial business organisations (BOSS Magazine, 2020). This magazine highlighted the
significance of maintaining innovative approach which can help to improve the sustainability
development of a commercial establishment. The trackR is a type of software which can help
to understand the changes required to bring innovative changes in a business environment.
Website
Based on the discussion of Australian Innovation System Report 2017, innovation
system of Australia is very much significant to improve the overall performance of an
industry (Australian Innovation System Report 2017). This website is also very much
significant to understand how the Australian business organizations improved their business
sales with the help of the innovation management system. The higher business growth of this
organization depends directly on the use of innovative approaches. The website was also very
much useful as it provided a detailed description of the how business innovations are used to
improve turnover rate of a business.
6. Critical Analysis
According to Mazur et al. (2016), there are diverse categories of challenges related
with business innovation such as the managing the cost of business innovation, managing the
time required to bring about the innovation in a business environment, management of the

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resources required during the innovation of new product, management of the investment
required to bring about a necessary change in a business.
On the other hand as elaborated by Pono et al. (2019), failing to meet the quality of
product, failing to understand the needs and expectations of the consumers are the other risks
of business innovation. The researcher of this journal indicated that a sense of community can
be created with the help of Innovation Management System. The researcher also added that
cultural diversity can be maintained with the help of this system, at the same time creativity
of the employees can be boosted using this system as well.
7. Conclusion
Generation of new ideas is very much useful for the business growth of commercial
organizations such as Tata Group. In order to maintain business growth in commercial
organizations like Tata Group can incorporate a new Innovation Management System. This
IT system shall not only help this organization to create new and innovative products but also
help them to reduce the operational cost and improve the customer satisfaction procedure.
The book was very much useful to understand how continuous improvement procedure is
maintained with the help of commercial innovation. The newspaper highlighted that service
providers of the business play a huge role to bring innovative changes in a business. Hyper
innovation and business disruptions are the directly related with business innovation based on
the data collected from Ted talks. Sustainability development can be maintained if business
innovation is maintained in a contemporary workplace as per the discussions of the magazine.
The data collected from the website suggests that business sales can also boosted due to
business innovations. Thus, it can be concluded that business growth of Tata Group shall be
maintained with the help of Innovation Management System.

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8. Recommendations
The list of recommendations for incorporating Innovation Management System are as
followings:
 Project timeline must be set for incorporating the IT system.
 Cost required in each phase of the project has to be identified prior to the start of the
project.

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9. References
20 Insightful TED Talks that Inspire Corporate Innovation. valuer. (2020). Retrieved 10
March 2020, from https://valuer.ai/blog/20-insightful-ted-talks-that-inspire-corporate-
innovation/.
Australian Innovation System Report 2017 | Innovation | Entrepreneurship | Growth | High-
Growth Firms | HGFs. Publications.industry.gov.au. (2020). Retrieved 10 March 2020, from
https://publications.industry.gov.au/publications/australianinnovationsystemreport2017/
index.html.
BOSS Magazine | Innovative Business Ideas in the U.S.. BOSS Magazine. (2020). Retrieved
10 March 2020, from https://thebossmagazine.com/innovative-business-ideas-us/.
Goffin, K., & Mitchell, R. (2016). Innovation management: effective strategy and
implementation. Macmillan International Higher Education.
Mazur, V. V., Barmuta, K. A., Demin, S. S., Tikhomirov, E. A., & Bykovskiy, M. A. (2016).
Innovation clusters: Advantages and disadvantages. International Journal of Economics and
Financial Issues, 6(1S), 270-274.
Pono, M., Reni, A., Osman, I., & Harisa, R. (2019, August). Performance Enhancement
Strategy through Business Environment, Product Innovation and Competitive Advantages. In
3rd International Conference on Accounting, Management and Economics 2018 (ICAME
2018). Atlantis Press.
Rahim, H. (2020). What is innovation and how can businesses foster it?. The Telegraph.
Retrieved 10 March 2020, from

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https://www.telegraph.co.uk/connect/better-business/innovation/what-is-innovation-and-how-
can-businesses-foster-it/.
Tata group Homepage | Tata group. Tata.com. (2020). Retrieved 10 March 2020, from
https://www.tata.com/.