Innovation on Australian Business (Research Paper Sample)

Innovation on Australian Business
Student’s Name
Institutional Affiliation
Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc8596752 \h 3Introduction PAGEREF _Toc8596753 \h 4Background PAGEREF _Toc8596754 \h 4Research Aims PAGEREF _Toc8596755 \h 4Research Questions PAGEREF _Toc8596756 \h 5Literature Review PAGEREF _Toc8596763 \h 7Research Methodology PAGEREF _Toc8596764 \h 9Research approach …………………………………………..............................................9Data Collection10Findings and Analysis PAGEREF _Toc8596766 \h 10Correlation between the number of engineers and the patent registration……………….11Discussion PAGEREF _Toc8596767 \h 13Conclusion PAGEREF _Toc8596768 \h 14References PAGEREF _Toc8596769 \h 16
Executive Summary
Having specialized on engineering management, my research will revolve around innovation in Australian business. Business innovations remain to be a principle aspect of maintaining viability in an ever changing competition climate. In other words, individuals and business must progressively offer insight and solutions to issues presently known and those anticipated in the future via effective investigation and brainstorming. The selection of this topic was influenced and inspired by the fact that today; many businesses not only in Australia but also all over the world rely considerably on innovations to battle the tide of competition. Therefore, as far as the engineering management field is concerned, this research is important in tabling and presenting the contributions of innovations to Australian business.
Innovation on Australian Business
Introduction
Background
It is no doubt that, Australia has embraced the benefits associated with advent of technological advancements and they part of they played in helping individuals as well as business entities. The selection of this topic was influenced and inspired by the fact that today; many businesses not only in Australia but also all over the world rely considerably on innovations to battle the tide of competition. Technology has been incorporated in nearly every aspect humanity’s existence and more so in steering businesses to the modern age. Therefore, as far as the engineering management field is concerned, this research is important in tabling and presenting the contributions of innovations to Australian business. Furthermore, in the age of technology the limitations are endless for ICT and software engineers to express their ingenuity.
Research Aims
The primary purpose of conducting the research is to investigate the research question to determine whether or not there is a correlation between the stated variables. In this case, the research question will be the guideline all through the data collection process. When it comes to the first research objective, the main concern here will be looking into the two variables namely the number of qualified engineers and the intellectual properties awarded to inventors in the
Australia. Following this, the information retrieved for the Australian Bureau of Statistics will give an overview of the patents awarded in the country. It is from here that an analysis will prepared to determine whether there is a notable trend in the statistics. The second research aim focuses on the impact market trends have had on business innovations in the region in the past decade.
The report released by the Business Characteristics Survey will provide information concerning the characteristics of businesses in the different industries.
Research Questions
RQ1. What is the relationship between the number of qualified engineers and the number of intellectual properties produced in Australia?
RQ2. How have the changes in market conditions between 2010 and 2018(in the past decade) impacted business innovation in Australia?
RQ3. What role has IT played in promoting better business practices, communication and the development of new commodities in Australian economy?
Literature Review
According to a report released by CSIRO, Australia has been experiencing a steady increase in temperatures and wild fires should be expected in the coming seasons. The Australian businesses have been forced to incorporate sustainability that can be achieved by business becoming more innovative in their production. In so doing, Australian enterprise will be part of the collaborative efforts to reduce carbon imprint and conserve the natural environment.
These innovations have to be in line with the SDGs commissioned by the United Nations. The United Nations Climate Change Summit expected to happen later this year will focus on mitigation plans to alleviate the problems linked to global warming (Rimmer, Lloyd, Mokdsi, Spielthenner, & Driver, 2015). The increase in the volume of greenhouse gases in the atmosphere has led to increase in global temperature and Australia has seen her share of wild fires (Rimmer et al., 2015). Apart from the destruction amounting to millions caused by natural calamities caused by Climate Change. According to Cuevas-Vargas et al. (2016), the implementation of effective policies is a daunting task for most businesses in the region. The article is premised on the correlation between performance of enterprises and the business innovations incorporated in the organization. In another instances, scholars concentrated their research study on the Wine
Industry. This refers to a survey that included over two hundred and three wine companies in the South Australian cluster. Galbreath et al. (2016) were interested about the climate change innovations employed by the wine industry that is just one of the country’s drivers of economic growth and development (Divisekera & Nguyen, 2018). Governments are coming together as one front to combat global warming and thus there is need for information sharing facilitated by the communication channels (Divisekera & Nguyen, 2018). Furthermore, they are promoting ingenuity by putting in place effective intellectual property right policies and by investing in educating society on the essence of innovation and it benefits (Mc Manus, 2012).
According to Hall, Agarwal, and Green, (2013), an educated community is better placed when it comes to solving solutions and having insights for inventions. Today, telecommunication influences business practices by ensuring that firms are keen to identify new threats as well as trends in the market place. Australia is a popular tourist destination whereby the hospitality industry has embraced new technologies to boost the customer experience of their guest (Mazzarol, Clark, & Reboud, 2014). They have installed consumer relationship management (CRM) databases to help them decipher what the clients want while visiting the premises. The access to the big data has proven to be effective in the hospitality industry and it has given them a comparative advantage amidst competition in the market. Furthermore, Habjan and Pucihar (2017) posit that with the presence of cloud computing firms it is possible for organizations to have unlimited storage space for data concerning staff, customers, suppliers and other stakeholders.
A research study conducted by Lee, Hallak, and Sardeshmukh (2016) focused on the way the hotels in Australia have used business innovation in the operations to increase the profit margins. This claim has been supported by a report by Villa-Espinosa, González-Ladrón-de-Guevara, and Terol (2018) that focused on deriving the relationship between information and communication networks. Additionally, the posited that have effective CRM databases boost the value of information and create competitiveness in the hospitality industry.
Drawing on the contents of their report they concentrated on the structural model of business innovations and as a complimentary to the entrepreneur’s self-efficacy. According to Wirtz and Daiser, (2017), a significant portion of industries in Australia have advocated for business innovation models improve the quality of service and goods in the market. Australia just like other economies is prone to unprecedented economic changes forces that may create barriers to ingenuity. The majority of the studies on the topic have neglected the limitations Australian businesses have when adopting new techniques. According to Kotey and Sorensen (2014), it is unwise to only consider the benefits of business innovations without getting to the grass root level to uncover whether there exists barriers to innovative practices.
Research Methodology
Research approach
The research approach is essential in planning on how the research is undertaken from the data collection to recommendation Galbreath, Charles, & Oczkowski, 2016). This research adopted the exploratory research design in evaluating and determining the correlation between the number of engineers and the patent registration. Exploratory design is utilized in evaluating an issue that has not been evaluated fully thus it is suitable for the current research (Wright & Nyberg, 2017). The research also adopted quantitative method in answering the research questions. This method was adopted since the data utilized was quantitative in nature and could be analyzed through the use of the quantitative methods (Wright & Nyberg, 2017). The research also adopted a deductive research approach to test the relationship between the number of engineers and the patent registration.
Data Collection
The bulk of the information was retrieved from...