Developing Innovation in Various Approach - Report Example

Planet Innovation (Name) (University) Abstract Innovation has emerged as imperative aspects in the development of competitive advantage in the dynamic business environment. In this respect, successful companies invest and nurture such capabilities where innovative services and processes emerge. These strategies eventually lead to innovation in products, new services, and superior business performance. An extensive review of innovation will be addressed on innovative management, with respect to a case study, Planet Innovation. Evidently, the company has emerged as an innovative company in maintaining competitive advantage amongst its competitors; that has seen it named as one of the top innovative companies. Its advancement in technological development has seen it develop the first ever vitrification machine, Ingeni, Accurate GPS Sporting gear and ZEN thermostat. A number of challenges, however, have been realized; where the company has responded to such issues accordingly. It is advised, however, that Planet Innovation (PI) should consolidate young graduates and innovative thinkers within the company. This will help the company tap young but innovative minds. More often than not, young minds are undermined, yet some of their approaches may be revolutionary. Given that innovation engineering systems are indispensable in various performance functions while it increases speed and risk reduction since it employs total systems of innovations through multifaceted approaches. Contents 1.0 Introduction 4 2.0 Achievements 5 2.1 Development of Ingeni 5 2.2 ZEN Thermostat 6 2.3 Accurate GPS Sporting Gear 6 3.0 Recent Renown Development 7 4.0 Challenges 9 5.0 Success factors 10 6.0 Cross Cultural Policies 10 7.0 Senior Engineer’s Role as an Innovator 12 8.0 Diagrammatic Approach for Summarizing Innovation Process 13 Reference List 15 APPENDIX 16 Planet Innovation 1.0 Introduction Many CEO advocates the ability to develop new ideas linked to innovation in various approach. Planet innovation best describes innovation in the modern day business environment. An increased knowledge in the knowledge economy and extensive technological advancement has improved the approach to innovation. Simply put, innovation is the strategy used by companies to produce new products, processes and systems needed in attuning towards the external dynamic forces. Contrariwise, as companies become increasingly focused on innovation, the performance hurdles for success, are eminent. As such, innovation is an important aspect since it ignites cultural innovation in various constructs. It changes the mindsets of the leadership and the workforce. Engineering processes occurs wittingly more than employees are inspired. In responding to the need to maintain the approach to business and affiliated practices, a company is compelled to apply efficient and multidisciplinary approach to fostering innovation engineering. In order to support such an approach, it is important to develop an effective approach to innovation and subsequent mitigation strategies. It follows that Planet Innovation’s innovation process adheres to strict process application and follow up activities. In other words, it presents a descriptive and supportive engineering culture that enhances the satisfaction. Planet Innovation (PI) showcases its full engineering capabilities in divergent aspects – the need to develop designs that mitigate complex human issues. Such supportive systems include mechanical engineer, CAD, optics, mechatronics and software designs. Its approach to business, Stuart argues, is dependent upon commercial and creative thinking (BRW, 2014). Planet innovation’s innovation process is built with a commercial focus that enables it identify and create a winning concept throughout various practices. It focuses on addressing the client’s end game, notably when exploring the radical concepts. Such capabilities in juggling between such concepts enables it create disruptive designs that form the company’s signature strength. The company’s CEO identifies the challenge of measuring innovation but identifies various approaches to countering such activities, while the company tracks the quantity of the new innovative ideas and their progression towards an innovation process, ultimately its success is attributed to the success of a product validating the idea. 2.0 Achievements 2.1 Development of Ingeni Numerous consumers have highlighted their frustration on many consumers with respect to finding a cheap source of energy plan; that resulted to the development of a simple solution. Igeni, as the company calls it, is software the enables people to run on their home computer through a USB connecting directly to a smarter meter. The software analyzes the actual energy usage of the household, where all variables are integrated; hence it can find the cheapest plan for the household (Langsdon, 2014). Contrariwise, Ingeni offers a real-time display of the energy usage hence the family can view how each device is costing the family, and how much can be saved in this regard. This enables the family to follow a creative strategy throughout their daily activities. Contrary to the energy switching sites that enter into a contract with retailers and offer a sample of available plans, hence the software lack any hidden cost and or various energy retailers. This offers a solution that empowers the consumers to control their energy bills and help in reducing cost (Langsdon, 2014). 2.2 ZEN Thermostat The company launched a new connected device business, dubbed Zen, to a much predictable IndieGoGo campaign (Langsdon, 2014). Simply put. This device is a smart home thermostat the enables the user to control the house temperature from the convenience of a smartphone. It partnered with the MMBNetworks to launch the product on the crowdfunding platform IndieGoGo. This device is an example of connected technologies that is developed by the company in advancing to the global industries of biotech, smarthome, and home health. 2.3 Accurate GPS Sporting Gear The company had teamed up with Sports Performance Tracking in developing and launching the contact sport GPS systems, named GameTraka. Amidst the numerous developments of GPS tracking systems available in the market, the challenges were however getting the devices on contact sports. The consumer products that are in the market are typically worn on either the wrist or upper arm; a tremendous safety risk in a contact sport. Nevertheless, most of these devices present a player’s location in the every one or two second-not accurate enough to measure a person’s speed. The company, therefore, developed their own devices that could offer significant accuracy when performing the sporting exercise. This device is embedded in the wearers sporting gear. Additionally, the device’s online software applies industry standards that calculate an individual’s intensity rating in determining the overall stress an individual places on their bodies. 3.0 Recent Renown Development The company’s signature strength is the development of the first ever verification machine. In 2009, the company teamed up with Genea Biomedx in attempting to automate IVF vitrification machine that would oversee its final standardization. The reason behind the idea was to locate safely the embryo and consolidate all the required fluids to the embryo, contrary to moving the embryo from fluid to a fluid as it was traditionally done in the manual process. In order to achieve this strategy, the company had to overcome a number of obstacles. Otherwise known as Geri, the incubator is dissimilar to those available in the market in that it integrates the low-cost multi-camera imaging system that primarily control the multi-patient incubator chambers. This implies that embryologist can assess the development of the embryo development by analyzing high-quality time lapse images, while it is safely contained in a regulated environment of an incubator. This is realized through the unorthodox approach of consolidating high-quality technologies. Vitrification is highly specialized. Nearly half of the world’s IVF labs lack the expertise to consider this approach; although they are inclined to incorporate the system. Before the development of the process and devices the manual processes consisted of a process where the embryo was picked up by a small curved stick and passing it through the multi-steps of media formulation prior to dunking it into liquid nitrogen for storage purposes. While the process had significant drawbacks; it was advantaged in that dropping the embryo in the liquid nitrogen enabled it to freeze quickly. As such, significant development had to be developed where the sealed embryo could be vitrified at the specified conditions, notably -10,000 degrees per second. In a series of months the design team was able to design and arrive to the a consumable pot that could carefully hold of the embryo in place over minutes whereas a series of media concentrations could be realized through such an approach. Through a successful development of the pod; the core technology; it was possible to create an automation strategy. With the core technology solved, developing an instrument that could automate and dispense the media was eminent. The design team deliberately included significant touch points with the consumers, in order to offer value creation to potential consumers. A significant approach to diffusion was realized where consumers had to be consolidated. This approach consolidated face to face interviews in with the consumers, to gain valuable insights into the design development. In supporting this initiative, the company created unbranded tradeshow at the world’s largest reproductive health conference. This creative approach was aimed at collecting valuable customer feedback on human aspects required in developing a superior product. The conference was a breakthrough since the company had gained tremendous information that would help in creating the products in the Planet Innovation’s lab. Approaching the development design for the product was comparatively easier since a significant amount of information had been integrated. Commercializing the Channels In the course of the product development approach, Planet Innovation and the Genea Biomedx had created sales and distribution channels that would help it create proffered approach to business. These design have garnered significant media attention and has enabled the country to be ranked as the most innovative company (BRW 2014). This entrepreneurial approach was instrumental in creating superiority in competition. 4.0 Challenges Fragile Nature of Human Embryo There are over the 1.5 million assisted reproductive cycles globally. As such, embryos that are not transferred immediately back to the recipient at the initial stages, are stored under the cyro stages through a complicated process known as vitrification. Nevertheless, the process has remained manual given the extremely multifaceted and manual nature; making its automation approach significantly challenging. The problem linked to this approach is the need to have an embryologist to sit at an equivalent time in handling the embryo. In this respect, inconsistencies are eminent which can reduce the rate of successful embryo recovery. Arguably, the existing processes places the human embryos in direct contact with the liquid nitrogen that otherwise present a considerable risk. Government Regulations Regulatory policies are at times a major challenge in developing human related devices; notably those attuned to human health. Some regulatory policies are detrimental to the development of new products. Human related technologies are thought to pose a considerable threat to cause a number of challenges notably risk to human life. For instance, the development of the first Vitrification machine was met with numerous critics, where a number of regulations necessitate that the frozen embryo be physically separated from the liquid nitrogen. This was a request had not been initially thought of, therefore, the company was compelled to change the entire development approach. 5.0 Success factors PI’s research and development strategy are an important feature for development. Significant investment in R& D was a breakthrough for the company since through research those companies can develop the superior quality of the product. In principle, innovation is the based o a single activities within the firm rather a multidisciplinary approach to development. The incorporation of R & D facilitates the utilization of technological opportunities and external resources. R&D facilities are instrumental since it helps improves the approach to product development. The equipped laboratories are essential in making taking numerous tests regarding products enhancement and development. Over the years, it has enhanced the development of superior products in multifaceted aspects; notably when addressing various technological challenges in various aspects. 6.0 Cross Cultural Policies A number of guiding principles for addressing cross-cultural aspects within PI have been developed. These principles are instrumental since it offers divergent capabilities in multifaceted aspects. The provisioning of such aspects is important factors of development and affiliated practices. Interaction between diverse cultural attributes calls for the need to consolidate various development aspects when dealing with Aboriginal and Torres Strait Islander. These strategies are highlighted under the following protocols; Respect Respect for Aboriginal and Torres Strait Islander employees is an imperative aspect given the need to maintain a preferred employee relationship in various aspects. The company encourages the creation of a working relationship with indigenous communities within the workplace through understanding and mutual respect. Essentially, creating respect between both cultures is instrumental since individuals from both cultures can respect each other hence foster workability. Culturally and sensitive assistance for support are always offered to these individuals hence they can function in various aspects. Equal Representation Equal representation of the groups is an important factor since it showcases the need for equality. Equal representation implies that all individuals’ background is considered. Equal representation, on the other hand, showcases that employees within the organization can identify themselves with the organizations. Such engagement improves employee motivation. In this respect, motivation is an instrumental factor in improving productivity. A highly motivated workforce implies that the employees are attuned towards PI’s innovative strategies. Contrariwise, such involvement creates a preferred working environment where employees from either culture can freely interact with each other within the working environment. Incorporating various attributes in the cultural integration within the workplace is imperative given the need to integrate various attributes. Training From a managerial aspect, various aspects are considered in managing the cultural diversity within the organization. By adhering to these strategies, managers realize the cultural difference given its impact on Planet Innovation. By adopting to synergistic approaches, the manager at PI can reduce potential problems that may arise as a result of cultural diversity. In the same way, the managers maximize on the advantages realized by managing the impacts as opposed to ignoring them. Contrariwise, PI trains the managers and employees in recognizing the cultural differences, as well as use, the existing differences in creating advantages for the organization. 7.0 Senior Engineer’s Role as an Innovator PI’s engineer with senior functional status plays a crucial role in enhancing the innovation. Evidently, the company’s success relies on the skill set of its engineers in three major departments namely; electrical, mechanical (CAD) and software engineer. A senior engineer at the electrical department is instrumental in detailing a project’s complex designs that include but not limited to schematic and PCB while incorporating Altium Designer, prototyping, assembly and the transfer of the products. Their participation improves the products design in multifaceted aspects, notably in improving its structure and scope of the design element. As innovators, they engage in researching on suitable approach in designing specific elements of designing the products prior to its launch to the consumers. Throughout the development stages of the products, the engineers play an instrumental role in effecting testability. Their inclusion in DFM (Design for Manufacturing), tolerance sensitivity analysis, reliability testing and program design, to name a few are used in the CAD based electro-mechanical departments. Engineers from various departments join forces in the rapid testing rig development from initial concept to the final products. The implementation of the conceptual designs will not be realizable given the need to consolidate various engineering aspects. The major roles undertaken by the team of engineers is to oversee the advancement of a product’s development stages that need adequate analytical and practices approach. These approaches oversee that all pertaining to a holistic view of nay project. As innovators, they constantly develop creative approaches to simplification of work functions of various products. Through constant monitoring and exploration of new aspects, senior engineers can guide young teams in offering an improved approached; given their increased operation in the field and enhanced understanding of engineering concept. Creating new design to a product needs a critical approach while considering aspects of efficiency and workability. No one addresses such issues as well as engineers do. Their functions are attuned to create solutions that present latent needs, desires, and behaviors. As such, they define under workflow and the redefine human factors elements in creating the user interface and the hardware solutions. 8.0 Diagrammatic Approach for Summarizing Innovation Process Reference List BRW. 2014. BRW Most Innovative Companies 2014: 3. Planet Innovation. Retrieved from http://www.brw.com.au/p/lists/50-most-innovative-companies/2014/brw_most_innovative_companies_planet_JX3CPsSkEBLnTZywWcqIDJ Langsdon, R. (2014). Ingeni. Retrieved from http://planetinnovation.com.au/seven-news-highlights-power-ingeni/ Langsdon, R. (2014). . ZEN Thermostat: PI launch connected device business on oversubscribed crowdfunding campaign. Retrieved from http://planetinnovation.com.au/zen-thermostat-successful-crowdfunding-campaign/ Langsdon, R. (2014). World first imaging incubator uses unconventional approach to monitor Embryos. Retrieved from http://planetinnovation.com.au/world-first-imaging-incubator-uses-unconventional-approach-monitor-embryos/ Langsdon, R. (2014). Strange technology allows us all to train like champions. Retrieved from http://planetinnovation.com.au/strange-technology-allows-us-train-like-champions/ APPENDIX Corporation Letter Insert your Addresses Here, Dear Sir/Madam RE: CORPORATION AT YOUR REPUTABLE COMPANY We humbly request permission to visit your company y in preparation of a report covering the innovative approach used by your company. As part of our course, we are tasked to analyze a case study and your company met our requirements. We hope that your team will offer us sufficient support in developing the report. Your corporation will be highly valued. Yours faithfully Letter of Appreciation Insert your Addresses Here, Dear Sir/Madam RE: APPRECIATION FOR SUPPORT We would like to take this opportunity to thank you and your company in offering extensive support towards our project. Our stay at Planet Innovation was welcoming and we are looking forward to having a fruitful relationship in future research. We highly appreciate your undying support and we wish you best of luck in future development Yours faithfully Interviews Questions 1. Could you give us a brief history of the company’s approach to innovation? 2. What are some of the recent advancement in innovation within the company? 3. What would you say is the most successful project that has been life changing? 4. While developing such strategies, what challenges and/or success factors did you encounter? 5. What are some of the strategies you employ in innovation? 6. What cultural policies do you have in place in managing Torres islander and aborigines? 7. What are some of the company’s diffusion and entrepreneurship aspects? Read More

Contrariwise, as companies become increasingly focused on innovation, the performance hurdles for success, are eminent. As such, innovation is an important aspect since it ignites cultural innovation in various constructs. It changes the mindsets of the leadership and the workforce. Engineering processes occurs wittingly more than employees are inspired. In responding to the need to maintain the approach to business and affiliated practices, a company is compelled to apply efficient and multidisciplinary approach to fostering innovation engineering.

In order to support such an approach, it is important to develop an effective approach to innovation and subsequent mitigation strategies. It follows that Planet Innovation’s innovation process adheres to strict process application and follow up activities. In other words, it presents a descriptive and supportive engineering culture that enhances the satisfaction. Planet Innovation (PI) showcases its full engineering capabilities in divergent aspects – the need to develop designs that mitigate complex human issues.

Such supportive systems include mechanical engineer, CAD, optics, mechatronics and software designs. Its approach to business, Stuart argues, is dependent upon commercial and creative thinking (BRW, 2014). Planet innovation’s innovation process is built with a commercial focus that enables it identify and create a winning concept throughout various practices. It focuses on addressing the client’s end game, notably when exploring the radical concepts. Such capabilities in juggling between such concepts enables it create disruptive designs that form the company’s signature strength.

The company’s CEO identifies the challenge of measuring innovation but identifies various approaches to countering such activities, while the company tracks the quantity of the new innovative ideas and their progression towards an innovation process, ultimately its success is attributed to the success of a product validating the idea. 2.0 Achievements 2.1 Development of Ingeni Numerous consumers have highlighted their frustration on many consumers with respect to finding a cheap source of energy plan; that resulted to the development of a simple solution.

Igeni, as the company calls it, is software the enables people to run on their home computer through a USB connecting directly to a smarter meter. The software analyzes the actual energy usage of the household, where all variables are integrated; hence it can find the cheapest plan for the household (Langsdon, 2014). Contrariwise, Ingeni offers a real-time display of the energy usage hence the family can view how each device is costing the family, and how much can be saved in this regard. This enables the family to follow a creative strategy throughout their daily activities.

Contrary to the energy switching sites that enter into a contract with retailers and offer a sample of available plans, hence the software lack any hidden cost and or various energy retailers. This offers a solution that empowers the consumers to control their energy bills and help in reducing cost (Langsdon, 2014). 2.2 ZEN Thermostat The company launched a new connected device business, dubbed Zen, to a much predictable IndieGoGo campaign (Langsdon, 2014). Simply put. This device is a smart home thermostat the enables the user to control the house temperature from the convenience of a smartphone.

It partnered with the MMBNetworks to launch the product on the crowdfunding platform IndieGoGo. This device is an example of connected technologies that is developed by the company in advancing to the global industries of biotech, smarthome, and home health. 2.3 Accurate GPS Sporting Gear The company had teamed up with Sports Performance Tracking in developing and launching the contact sport GPS systems, named GameTraka. Amidst the numerous developments of GPS tracking systems available in the market, the challenges were however getting the devices on contact sports.

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