MGMT20132 Innovation and Sustainable Business Development

Published : 09-Sep,2021 | Views : 10

Question:

Identify for whom and/or for which organisation you will be writing the business case. (For instance, you might be pitching to an investor or the management of a company). Hint: choose a person/company that at least one of your group members knows well (e.g. a group member's current employer) OR that is in the public eye (i.e. there is a lot of publicly available information about this person/company).

Identify an innovation that your group believes could be reasonably discussed as the subject of the business case. The innovation you choose should have the potential to be developed sustainably over a commercially viable period of time. (It can be an innovation your team came up with yourselves or something you learned about by reading or watching TV, etc.)

Consider and evaluate the possible business models that could be used to realise the opportunities inherent in the innovation.

Develop the business case document based on the business template provided in class or one that you use at work. This will require you to write a business case with five separate sections: 1) The problem the innovation can solve; 2) Benefits of the innovation; 3) Strategic response or plan.

Answer:

Ford Motor Company is a part of automobile industry since 1903. They are known as the leading innovators in the automobile industry. They have planned to introduce Biometric Access feature in their upcoming models. This feature leads to enhancement in the security of the cars. Key-less entry option is being replaced with the biometric option.

Major Issues resolved by Biometric Access control

It will enhance the security feature; Without permission from owner, car not be accessed; (Beelen, et. al., 2014). Carrying keys and remote controls for accessing car will not required. Security feature of the vehicle will be enhanced and it will reduce the chances of thefts of car. In the absence of biometrics installed in the vehicle’s system, some other person will not be able to access the vehicle and a safety alarm will also rings in these types of situation. It will reduce the chances of robberies of vehicles. Till the time, user will not access the vehicle with his own biometrics, vehicle cannot be accessed. Apart from this, user can add 5-7 biometrics at a time.

Benefits of Biometric Access control

This innovation mostly sounds like the feature installed in the smart phones. Basically, this innovation is inspired by the smart phones only. Personalisation will get increased with the launching of biometric access in the cars. Car's performance will get increased with this innovation. It will reduce the burden from the shoulders of car users in terms of carrying the keys and the remote controls for unlock the car.

High-end protection and accuracy will be enhanced with the installation of biometric access in the cars. Without taking permission from the authorised user, strangers will not be able to access the car. This technology will be low maintenance (Dentchev, et. al., 2016). Control over the car will be increased as well as this technology will act as the most convenient method to get accessed over the car because it does not require any pin lock, passwords, etc.

Strategic Response orPlan

Under this plan, effectiveness of the new plan, feature, etc. launched in the market for enhancing the performance of the cars as well as to build the adequate market image in the target market. In terms of Ford Motor Company, appropriate set of strategies will be used such as market surveys, feedback taken from the consumers, social media platforms, official website of the Ford Motor Company, etc.

As Ford Motor Company is a part of automobile industry, hence; the most effective technique could be used is providing test drive of the car to the users in which biometric access control will be installed and this will help the organization to promote the new feature launched as well as the effectiveness of the feature would also be evaluated easily (Grant, 2016).

Project Option Analysis

This analysis is performed in order to evaluate the effectiveness of the techniques used for promoting and spreading information in relevance with the newly invented feature. These strategies are adopted on the basis of the rules and the policies described by the management of the organization. Those should be capable enough so that the management’s expectations could be fulfilled adequately (Huang, et. al., 2016).

Recommendation

Every company needs to introduce and adopt regular innovations for maintaining the market image. Apart from the introduction of the innovations, updating the systems used for performing the activities and the updating the products and the services manufactured by the company should be enhanced in order to enhance the compatibility of the product with the consumers’ expectations.

In terms of Ford Motor Company, they are known for introducing beneficial and unique innovations in their cars and with the help of this feature, organization has built their effective image in the automobile industry. The new feature launched by the Ford Motor Company is for enhancing the security features in the car.

Conclusion

From the above report, it can be concluded that the above innovative feature will help the organization to develop the distinctive image in the automobile industry. Apart from this, the promotional and the advertisement strategies used for enhancing the demand of the product were also quite effective and impressive. In order to meet with the objectives of the organization, adequate set of strategies must be used.

References

Beelen, R., Raaschou-Nielsen, O., Stafoggia, M., Andersen, Z. J., Weinmayr, G., Hoffmann, B., & Vineis, P., 2014,

Effects of long-term exposure to air pollution on natural-cause mortality: an analysis of 22 European cohorts within the multicentre ESCAPE project, The Lancet, 383(9919), 785-795. Dentchev, N., Baumgartner, R., Dieleman, H., Jóhannsdóttir, L., Jonker, J., Nyberg, T. & van Hoof, B., 2016,

Embracing the variety of sustainable business models: social entrepreneurship, corporate intrapreneurship, creativity, innovation, and other approaches to sustainability challenges, Journal of Cleaner Production, 113. Grant, R. M., 2016,

Contemporary Strategy Analysis Text Only, John Wiley & Sons. Huang, P., Negro, S. O., Hekkert, M. P., & Bi, K., 2016, How China became a leader in solar PV: An innovation system analysis, Renewable and Sustainable Energy Reviews, 64, 777-789.