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Innovation - Term Paper Example

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Innovation Contents Contents 2 Introduction 3 Current Business Situation 3 Stakeholders 6 Recommendation 6 Implementation 8 Reference 10 Introduction The creating of an organization is fundamental to the process of innovation. Innovation itself constitutes the part of a system that produces it…
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Innovation
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Download file to see previous pages In the global societies, the organization needs to be rebuild in order to navigate themselves out from the economic and social morass and it is through innovations that an organization can get there, but the organization and leaders are usually focused on status quo. An innovative organization creates people, process and philosophies to create, support and nurture innovation (Sorenson, 2011). This project would deal with the innovation strategy adopted by Vodafone, Vodafone group Plc is the world’s largest mobile telecommunications, with its presence in Europe, Asia, Africa, Middle East and the United States. Current Business Situation The company current strategy titled, a stronger Vodafone to a more valuable Vodafone comprised of four main components. They are, to focus mainly on the new areas of growth like by entering into emerging markets, introducing new service and many more. Next to deliver value and efficiency by driving off cost effectiveness and operational effectiveness, thirdly, to generate liquidity and lastly apply the capital for the investment of the company (Vodafone Group Plc, 2011, p.3). The company, Vodafone primarily focused mainly on its expansion strategy in the emerging countries where there is a potential growth. The enterprise customers of Vodafone range from small-office-home office business to small to medium sized enterprises. The company has 34 million customers as enterprises comprising of 9% and about 23% of service revenue. In 2010 Vodafone acquired Quickcomm and TnT Expense management. This acquisition has strengthened the ability of the company to provide the enterprise customers with a greater visibility and control. As an innovation strategy, Vodafone has been working with its partner Novartis on a health project (Vodafone, 2011). Strength Vodafone is one of the largest mobile phone operators by terms of revenue had planned to focus more on the high growth strategy in India and as time Vodafone has been able to do it by introducing more low cost handsets, wireless connectivity and finally being a good corporate citizen and is India’s fourth largest mobile operator (Lall, 2007). Vodafone’s one of the successful strategy was the introduction of ZooZoo in the year 2009, the new brand ambassadors of Vodafone. This character was successful in repositioning the brand. The Indian Premier League 2 (IPL2) was chosen as the platform for Vodafone to launch their advertisements made on ZooZoo, which proved to a great marketing strategy for Vodafone. With the success of the ZooZoo character the company has launched many ZooZoo goodies such as Zoozoo mugs, toys, t-shirts, key chains and many more. This step was seen as one of the major step taken by the company in the form of innovation. Vodafone is the only company which has come up with such a concept of ZooZoo and has proved to be essential in attracting the customers. Weakness A major weakness of Vodafone was reported to be the network coverage. It did not have a widely accepted coverage and the customers often complained about the network and also customer service. The company did not invest much in the R&D which led to the dissatisfaction of the customers. Opportunity The current market situation of the company is showing a steady rise not only in India but also in UK. Vodafone profits have rose as about 9.4 million new customers have joined up Vodafone. It ...Download file to see next pagesRead More
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