Innovation, Quality, and the Internet (Essay Sample)

Innovation, quality, and the internet
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Contents pages
Overview of the market opportunity………………………………………………..3
Innovation process…………………………………………………………………..3-5
Solution to the problem……………………………………………………………..6-8
Business case………………………………………………………………………..8-1
Executive summary…………………………………………………………8-13
Objectives…………………………………………………………………...9
Key to success……………………………………………………………….9
Target market strategy……………………………………………………….10
Market size…………………………………………………………………..10
Demographics………………………………………………………………..10
Sales and marketing………………………………………………………….10
Financial plan…………………………………………………………………10-12
Sales forecast………………………………………………………………….12
Break even analysis…………………………………………………………...12-13
Conclusion………………………………………………………………………….....13
References…………………………………………………………………………….14-15
Innovation, quality, and the internet
Overview of the market opportunity
With the developing popularity of the internet, most businesses have become heavily reliant on the internet for major operations. Past business models have also been modified to fit the current trends that modern businesses are to adhere so as to survive in this competitive era. A biggest population in the UK is compost of job seekers who heavily rely on the internet for job listings. There aren't enough websites that offer such services in a professional way that is efficient and ensures reliability, security, and credibility. There is a gap in the potential that listing websites have in generating lots of revenue from listing websites. Businesses have not capitalized on this matter (FitzGerald, J., & Dennis, A., 2009).
Innovation process
For the innovation process, similar websites were put under the microscope, and suitable research was carried out. A studied of 40 different websites and surveyed more than 3000 website users who either required listing services or best deals on goods and services from online transactions. It was intriguing to find out that 60% of the web users doubted the security of online transactions and the credibility of these sites. Most of them gave reasons relating to confidentiality of personal information as the cause of the doubt. Many claimed that phishing attacks had become common. A simplified model is used to show the innovation process below;
In order to make an innovation process, the Innovation 7s model was used. It provides a ground for innovation discovery. Christensen, Gregersen and Cliffe (2011, p.1) explain that an innovation can be learned and mastered. Innovators see problems and transform them into solutions. From a consumer’s point of view, the current status quo had to be challenged to come up with a website that will win client trust and support. The website has to offer services in a new and in an innovative way that the current listing websites have failed to do so such as yahoo.com, the business journal, local.com (Malhotra, Y. 2000).
The most important and probably the most difficult job is not to find the right answers, but rather finding the right question (Drucker, 1954).
Multiple users have to be a question, but the questions had to be carefully thought out. The specific questions were intended to illicit responses from the web users on the type of services and modifications the websites had to undergo to be credible and user-friendly. Found out that many respondents required a way of verifying users such that spammers, hacker, and other malicious people are barred from doing evil things to the users.
The innovation 7s model is used to illustrate the seven variables include strategy, structure, systems, skills, styles staff and shared values. It is the skeleton of the organization. The systems are the routine procedures and processes followed within a firm. Staff are identified in terms of personnel categories within the firm (e.g. engineers), whereas the skills variable refers to the ability of the staff within the firm as a whole. The way in which the managers behave in achieving organizational goals is considered to be the style variable; this variable encompass the cultural style of the organization. The shared values, originally termed superordinate goals, refers to the significant meanings or guiding concepts that organizational members share (Peters and Waterman, 1982).
The innovations 7S Model.
Can our existing Structure manage this?
309562582550Does this innovation fit our existing strategy?StrategySkillsStaffStyleSystemsStructure Shared ValuesCan our existing Systems Support this?
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Do our staff Have the skills for this?
36195022860Does our existing management style support this?
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Can our Staff adapt to this?
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Many companies observed how clients respond to or use the website interfaces. It was established that users require straightforward interfaces that are precise and take them directly to the information they require. Website reliability was also another major issue that affected the rate at which users frequent the website. Websites with an active support team and reliable were preferred. Interesting to note, websites that had a physical address were trusted more (D...