Discuss about the Business Case for American Multinational Technology.
Innovation management helps in introducing new ideas, products and processes while responding to external and internal opportunities (Yoo, 2013). This report is a business case that is a justification for the proposed project as it offers commercial benefits. The company chosen for the purpose of this report is Apple Inc. It is an American multinational technology company headquartered in California that designs, develops and sells consumer electronics. The company sells smartphones, tablets, television and other electronics. The organization was founded by Steve Jobs, Steve Qozniak and Ronald Wayne and sold only computers in the beginning. Ever since, Apple has been looking into things and creating new technologies (Yoo, 2013).
They intend to be the first movers and capture the market by innovating new technologies and products. They have been updating the iPhone- smartphone of Apple by developing internal and external components. The company has been constantly working on its operating system, camera, display, screen size and battery to provide the best user experience. It is a luxurious product and iPhones are expensive n comparison with other smartphones such as Samsung, HTC and Motorola. This report aims at providing an innovative smartphone- iPhone X which has a bezel-less design as there is no home button. It has other advanced technological features like Face ID facial recognition and wireless charging (Brexendorf, Bayus, & Keller, 2015).
It is analyzed that the other smartphones that are Android-based face common issues. The major issues faced by the smartphone users are the design, battery life, resolution, camera, and vulnerability. Currently, all the smartphone companies are focusing on providing customers with the best features at low prices. The competition in the smartphone industry has significantly increased that calls for innovation. Nowadays, the phones are not just used to make calls, text or stream music and videos. With the advent of technology, the applications are designed to enhance user experience. For using the applications, one needs a smartphone that supports without slowing the speed (Norman & Verganti, 2014).
The smartphones are not usually dust and water resistant. The customers are annoyed by the long charging cables that have to be pulled in and out daily. The customers also face trouble as they have to find a socket which can be difficult at public places. The innovation can resolve the problem as it has wireless charging feature adding to convenience. It is further argued that the smartphone users face issues regarding storage space. In the current world, people are highly reliant on clicking pictures and shooting videos to make memories (Spence, 2017). But, the storage space in the smartphone is not sufficient as the games and other applications take up a lot of space. The innovation of adding to space of 64GB and 256GB as internal storage is that the features can be fully explored and users can make most memories (Kelly, 2017). One of the most innovative features in iPhone X is that it has Face ID feature. Usually, the users suffer hacking issues as they may attempt to crack codes and misuse the information present on the smartphone. iPhone X uses Face ID innovative feature as there is a chance that maybe one in a million shall be able to unlock the phone (Haselton, 2017).
The smartphone users often complain that they are unable to capture the true colours or have a low brightness. The users also complain that the smartphones have LED display that is more energy consuming than organic light-emitting diode (OLED). The users often complain that the bezels on their smartphone are distracting. It also disrupts the beauty of the phone and obstructs the perfect screen for viewing content. While clicking pictures or shooting videos, the users might face troubles as camera shakes and the results obtained are blurry. The innovative feature Dual Image Stabilization helps avoid blurry result by shifting the sensor (Silver, 2017).
The innovation in iPhone X shall help addressing the above problems. It provides wireless charging feature that adds to convenience. The customers would not have to deal with cords and all the phones can be charged simultaneously. Even if the customers have to drop their phone at the charging station, wireless charging is beneficial (Gartenberg, 2017). A storage space of 64GB and 256GB has not been available on a smartphone before as internal storage as it takes space on the smartphone. Talking about the iPhone X Face ID feature, it is argued that the innovative feature ensures privacy, security and confidentiality. The previous smartphones of Apple has finger touch option which may be cracked by 1 person in 50,000 (Haselton, 2017). The face detection on iPhone X is more secure and faster that a fingerprint reader (Gartenberg, 2017).
The attractive and innovative feature of iPhone X is that it has Super Retina HD display that is used through the first OLED screen. This screen can resolve the display and colour issues that are usually faced by the users. In the current world, people are highly reliant on clicking pictures and shooting videos to make memories. The colours on the phone appear stunning with high brightness as every pixel has its own light source. It shall also prove efficient and hence save power as the pixels turn on when needed (Lyons, 2017). The issue addressed due to bezel is removed through the innovative feature with all-screen display. The new bezel-less phone shall allow a perfect display for viewing content. The screen size appears bigger adding to a beautiful design. The benefit that is added by A11 Bionic chip with 64-bit architecture is that it is faster than Qualcomm. Also, it occupies 30% less surface area in the CPU. As discussed earlier, the dual image stabilization shall be beneficial for the users as the images and videos captured shall not be blurry and result into fine outputs (Zafar, 2017).
The innovation idea needs to be included in the long-range strategic plan. The first step is to develop short-term and long-term objectives for converting work from conceptual to concrete. The short-term objectives through the iPhone X innovation are to attain sales and profitability. The long-term objective is to add to the loyal customers who shall look forward to Apple’s organizational innovation and success. The initiatives shall be aligned as there is demand by the luxurious segment for a smartphone that makes their possession unique (Norman & Verganti, 2014).
Secondly, similar organizations such as Samsung, HTC and Sony shall be studied as they are inspiring. These competitors have been coming up with their innovations as well and offering products at lower prices. The budget that can be allocated as short-term requirements and performance incentives can be linked to performance against strategy. Further, a transformational strategy shall be required by the organization to efficiently deliver the innovative strategy.
The staffs at Apple need to be engaged. The staffs must be prepared that strategy requires change. The company has been constantly working on its operating system, camera, display, screen size and battery to provide the best user experience. It is a luxurious product and iPhones are expensive in comparison with other smartphones such as Samsung, HTC and Motorola. The key hurdles that may be experienced by the staffs at Apple are necessary to overcome for achieving execution. Further, the staff members need to understand strategic vision, themes and roles that need to be played in strategic vision. The employees are expected to change for the organizational success. Lastly, the strategy must be monitored and adapted so that they can change our internal and external environments. The leaders shall set innovative targets and they must communicate on a regular basis to monitor progress. It might take years for the innovation to be successful but the right program and attention from executives can help succeed.
The options and feasibility analysis is a systematic evaluation and assessment of the alternative approaches for achieving the project objectives. The first step is option identification. The do-nothing or baseline scenario should be included. In case of no investment situation, the smartphone users shall continue to face issues regarding wireless charging, poor display, low quality images and videos, and smaller screen. The do minimum option that shall provide the least cost solution for achieving investment goals shall be USD 1 million. Further, do-something option for the project involves the investment of technical, compliance, regulatory and demand constraints. The do-something options involves an amount of USD 1.5 million. The focus of analysts shall be placed in the pricing policy. The phone may be sold at a price of USD 999 per piece (Nicolaisen & Næss, 2015).
A demand analysis shall be conducted by evaluating the need for investment proposal through assessing current demand and forecast demand. The available technology plays a significant role in making a project feasible. The option selection can be made by comparing the alternatives with a unique common effect. The staff requirements shall be reviewed by training them with the right skills. It is therefore determined that the project proposal can add to the benefits of consumers and address their common issues with smartphone.
Any individual can create new ideas, but its implementation is challenging. The solution recommended can be delivered by following a balanced approach. The goals for innovation network can be designed that can positively impact the business scenario. A scalable platform shall be designed by increasing employee engagement in the innovation process. The next step is to establish the right organizational principles (Slater, Mohr, & Sengupta, 2014). This is the key to promoting innovation and the talented employees can help deliver new ways of working for benefitting the clients. The goal of initial implementation is to put the new practices in place at selected implementation sites. Practitioners in the sites are trained and begin to use the practices or innovation. The goals of full implementation are to assure practices are used with high fidelity, and are achieving expected outcomes at all initial sites. Orientation activities provide necessary training and support to newly hired practitioners and leaders so they can use and sustain the new practices (Lingelbach, Sriram, Mersha, & Saffu, 2015).
Next, it is important to expand in the market by expansion plans. Appropriate finding and policies shall be required to increase data systems and supporting the new sites. The idea of lauching iPhone X must be done by reducing risk and providing incremental funding, rewards and recognition. The activities provide training and support to hired practitioners so that the new proposal of iPhone X can be well implemented. During initial implementation, the communication plan needs to be outlined in front of the stakeholders so that they are aware of the progress and important changes (Mahr, Lievens, & Blazevic, 2014).
Conclusion
The above business case is a justification for the proposed project for iPhone X as it offers commercial benefits. The company has been constantly working on its operating system, camera, display, screen size and battery to provide the best user experience. Nowadays, the phones are not just used to make calls, text or stream music and videos. But, the storage space in the smartphone is not sufficient as the games and other applications take up a lot of space. Even if the customers have to drop their phone at the charging station, wireless charging is beneficial. The colours on the phone appear stunning with high brightness as every pixel has its own light source. The initiatives shall be aligned as there is demand by the luxurious segment for a smartphone that makes their possession unique. It is a luxurious product and iPhones are expensive in comparison with other smartphones such as Samsung, HTC and Motorola. The leaders shall set innovative targets and they must communicate on a regular basis to monitor progress. In case of no investment situation, the smartphone users shall continue to face issues regarding wireless charging, poor display, low quality images and videos, and smaller screen. The available technology plays a significant role in making a project feasible.
References
Brexendorf, T. O., Bayus, B., & Keller, K. L. (2015). Understanding the interplay between brand and innovation management: findings and future research directions. Journal of the Academy of Marketing Science, 43(5), 548-557.
Gartenberg, C. (2017). Samsung’s component division will make more money off the iPhone X than the Galaxy S8. The Verge. Retrieved 3 October 2017, from https://www.theverge.com/circuitbreaker/2017/10/2/16404430/samsung-iphone-x-galaxy-s8-screen-components-money-revenue-display
Haselton, T. (2017). Apple’s upcoming iPhone face recognition said to be faster and more secure than fingerprint reader. CNBC. Retrieved 3 October 2017, from https://www.cnbc.com/2017/08/07/iphone-8-face-id-said-to-be-faster-and-more-secure-than-touch-id.html
Kelly, G. (2017). iPhone X Vs iPhone 8 Plus: What’s The Difference?. Forbes.com. Retrieved 3 October 2017, from https://www.forbes.com/sites/gordonkelly/2017/10/01/iphone-x-vs-iphone-8-plus-whats-the-difference/#1cce4ec31543
Lingelbach, D., Sriram, V., Mersha, T., & Saffu, K. (2015). The innovation process in emerging economies: An effectuation perspective. The International Journal of Entrepreneurship and Innovation, 16(1), 5-17.
Lyons, J. (2017). What Is Super Retina Display? The iPhone X Has Crazy High-Tech Resolution. Bustle. Retrieved 3 October 2017, from https://www.bustle.com/p/what-is-super-retina-display-the-iphone-x-has-crazy-high-tech-resolution-2343801
Mahr, D., Lievens, A., & Blazevic, V. (2014). The value of customer cocreated knowledge during the innovation process. Journal of Product Innovation Management, 31(3), 599-615.
Nicolaisen, M. S., & Næss, P. (2015). Roads to nowhere: The accuracy of travel demand forecasts for do-nothing alternatives. Transport Policy, 37, 57-63.
Norman, D. A., & Verganti, R. (2014). Incremental and radical innovation: Design research vs. technology and meaning change. Design issues, 30(1), 78-96.
Silver, C. (2017). Apple iPhone X: 10 Logical Reasons Why You Can’t Wait To Buy This Phone. Forbes.com. Retrieved 3 October 2017, from https://www.forbes.com/sites/curtissilver/2017/09/26/apple-iphone-x-10-logical-reasons-why-you-cant-wait-to-buy-this-phone/#132be89b1d6c
Slater, S. F., Mohr, J. J., & Sengupta, S. (2014). Radical product innovation capability: Literature review, synthesis, and illustrative research propositions. Journal of Product Innovation Management, 31(3), 552-566.
Spence, E. (2017). New iPhone X Rules Expose Arrogant Apple. Forbes.com. Retrieved 3 October 2017, from https://www.forbes.com/sites/ewanspence/2017/10/02/apple-iphonex-notch-design-arrogant-wrong-flawed/#620e490c730c
West, J., & Bogers, M. (2014). Leveraging external sources of innovation: a review of research on open innovation. Journal of Product Innovation Management, 31(4), 814-831.
Yoo, Y. (2013). The tables have turned: How can the information systems field contribute to technology and innovation management research?. Journal of the Association for Information Systems, 14(5), 227.
Zafar, R. (2017). Apple’s A11 Bionic Chip Decreases CPU1 Surface Area By 30%; 2017 iPhone GPU Is Still A Six Core Design Similar To Predecessor. Wccftech. Retrieved 3 October 2017, from https://wccftech.com/apple-iphone-8-plus-a11-bionic-complete-teardown/
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