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Innovations in Business and Technology Assignment Help

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LD7088 Innovations in Business and Technology Assignment

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Learning Outcomes -

Learning Outcome 1 - Demonstrate critical knowledge and understanding of innovation theories and concepts which enhance value for businesses as enablers of an innovative organisation

Answer: A solid understanding of innovation theories and concepts is crucial for businesses seeking to foster a culture of innovation. Theories like disruptive innovation, open innovation, and design thinking provide frameworks for understanding how new ideas can challenge existing markets, leverage external resources, and create customer-centric solutions. By applying these concepts, businesses can identify emerging trends, develop innovative products and services, and ultimately enhance their competitive advantage. For instance, disruptive innovation can lead to new market opportunities, while open innovation can foster collaboration and accelerate the development process. Ultimately, a deep understanding of innovation theories equips businesses with the tools to navigate an ever-changing landscape and drive sustainable growth.

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Learning Outcome 2 - Critically apply web based technologies and user experience design principles to create usable systems.

Answer: Critically applying web-based technologies and user experience (UX) design principles is essential for creating usable systems that meet user needs. This involves selecting appropriate technologies, such as HTML, CSS, JavaScript, and frameworks like React or Angular, to build intuitive and efficient interfaces. UX design principles, including usability, accessibility, and aesthetics, guide the development process, ensuring that systems are easy to navigate, understand, and use. By considering factors like user goals, task flows, and device compatibility, developers can create systems that are not only functional but also enjoyable and engaging for users. Ultimately, a well-designed system enhances user satisfaction, improves efficiency, and contributes to the overall success of a business.

Learning Outcome 3 - Demonstrate the ability to formulate and evaluate an innovation strategy for a new technology-based product or service venture.

Answer: Formulating and evaluating an innovation strategy for a new technology-based product or service venture requires a comprehensive understanding of market dynamics, technological advancements, and competitive landscape. This involves identifying target markets, assessing customer needs, and analyzing potential competitors. By leveraging market research and competitive analysis, businesses can develop a strategic roadmap that outlines product development, go-to-market strategies, and resource allocation. Key factors to consider include technology readiness, intellectual property protection, and financial feasibility. Evaluating the innovation strategy involves assessing its alignment with business goals, potential risks, and expected return on investment. A well-crafted innovation strategy provides a framework for guiding the venture towards success in a rapidly evolving technological landscape.

Learning Outcome 4 - Ability to evaluate learning from innovation and assess performance and metrics.

Answer: Evaluating learning from innovation and assessing performance and metrics is crucial for continuous improvement and informed decision-making. By analyzing the outcomes of innovation initiatives, businesses can identify successes, failures, and areas for enhancement. This involves collecting and analyzing data on key performance indicators (KPIs), such as customer satisfaction, market share, and financial metrics. Additionally, it is essential to gather feedback from employees, customers, and other stakeholders to gain insights into the effectiveness of innovation efforts. This evaluation process enables businesses to refine their innovation strategies, allocate resources more efficiently, and foster a culture of learning and adaptation. Ultimately, by continuously evaluating learning and assessing performance, organizations can maximize the benefits of innovation and drive sustainable growth.

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Learning Outcome 5 - Reflect on the consequences of technological innovation and the impacts on society, environment and political agendas (e.g. industrial strategy, sustainability, etc.).

Answer: Reflecting on the consequences of technological innovation is essential for understanding its broader implications on society, the environment, and political agendas. Technological advancements can have both positive and negative impacts. For example, while technology can improve efficiency, productivity, and quality of life, it can also lead to job displacement, privacy concerns, and environmental degradation. The development and use of new technologies can raise ethical questions and challenge existing social, political, and economic structures. It is crucial to consider the long-term consequences of innovation and to develop policies and regulations that mitigate potential risks and promote sustainable development. By engaging in critical reflection and proactive planning, society can harness the benefits of technological innovation while addressing its challenges and ensuring a more equitable and sustainable future.

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Business Scenario -

Creative Limited is a small size business involved in selling computer's components. The company currently has only one retail shop in central London but now wants to reach more customers throughout the whole UK and so they are in need to create a presence in new Online Web market . In future, they also want to enter new markets of the nearby countries with their online presence in order to expand their reachability towards the new customers. Creative Ltd needs to use innovation theories and concepts to improve value for their business but the company's managing director has less experience on Web technologies. You have been hired by Creative Limited to work for them as a consultant to research and design a website for them. You should carry out your initial research on the current web based technologies available and user experience design principles. You are then asked to create functioning and innovative systems with a cross-platform solution with a pleasant user-experience spiced up with modern interactive attributes. You are also required to produce a report to achieve the following tasks as outlined below along with marks breakdown. You can make necessary assumptions about user personas/customer profiles in order to develop requirements for the innovative front-end web solution.

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Part A - In your report, you need to demonstrate critical knowledge and understanding of innovation theories and concepts that enhance value for businesses as enablers of an innovative organisation. [700 words].

Part B - Critically apply web-based technologies and user experience design principles to create innovative front-end website. You could consider using some of the elements of user-centred approach as suggested by Jesse James Garrett. In your report, you need to discuss the use of web based technologies solutions for a given scenario, and must demonstrate valid use of concepts learned from the course. [1000 words]

Part C - The report should also identifies and evaluates the impact of a future disruptive innovation affecting the selected organisation. [600 words]

Part D - In your report, you need to demonstrate the ability to formulate and evaluate an innovation strategy for a new technology-based product or service venture. [500 words]

Part E - In your report, you need to reflect on your in-depth demonstration of the application of web-based technologies and user centred design approach. You must also reflect on the consequences of technological innovation and the impacts on society, environment and political agendas (e.g. industrial strategy, sustainability, etc.) [700 words]

Part F - Defend final report recommendations aimed at advising senior stakeholders. [500 words]

Part G - References using trusted referencing system e.g. Harvard referencing system, and using up to date research articles.

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