Cherry – Valuing Innovations
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MIS2901 – An Experiement in Teaching and Learning
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Mart Doyle
The first step in the E-Business Innovation Cycle is Choosing emerging technologies. In this step, the company will create a team whose responsibility is to scanning for the new emerging technologies that is relevant to the company. These technologies would help the firm gain competitive advantage over the others. Next, these new technologies found will be matched with the current economic opportunities. In this stage, the emerging technologies will be considered in the context of current economic condition in order to determine if it is a promising one in adding value to the company after implementing. The next step of the cycle is to execute business innovation for growth in which the company will implement the chosen technologies. After that, the technologies will be evaluated the value it brings about to customers as well as internal clients.
There are three new ways to think about investments in disruptive innovation introduced in the E-Business Innovation Cycle. First of all, technology should be put ahead of strategy. Given the fact that technology changes with a very fast pace today, this approach states that it is not smart trying to fit the new technology into an aging strategy. This suggests that technology must be the one that trigger strategic ideas. That is the reason why the first step of the cycle does not begin with a strategy. Similarly, technology should also be put ahead of marketing. This is based on the fact that many technologies in the market today were not triggered by the need or want of customers. There are so many products with breakthrough technology that customers do not know they want then until they actually see and experience them. The last way introduced by this approach is that the innovation must be continuous. That is the process of looking for the “next new thing” must be ongoing in order to keep the company on the same pace with the changing of information technology.
Question:
Which is NOT the new way to think about investment in disruptive innovation:
a. Put technology ahead of strategy
b Put customer ahead of technology.
c. Put technology ahead of marketing
d. Innovation is continuous
The correct answer is B
I agree with most of the things here, except that innovation should not be started with customers. I took a marketing class earlier, and customer opinion is a big part of innovation and organization improvements. Especially in creating a new product, marketers would go to a group of target customers and ask them about how they feel and what they want. It is true that innovation usually does not start with customers, but they are not the last group we go to. Customers know what they want and can tell us lots of problems with the product. Moreover, they see things from a different perspective than the business people or the technology people, and they usually can provide valuable information and opinions.
I am only disagreeing with part of the material, you did a great job learning the material and summarizing it.
i agree with almost everything that was said but I do somewhat disagree also. Customers are indeed important but I thought more emphasis is stressed on internal ideas within a company rather than customers. Then again it might just depend on the company and how they choose to go about things.
i agree with almost everything that was said but I do somewhat disagree also. Customers are indeed important but I thought more emphasis is stressed on internal ideas within a company rather than customers. Then again it might just depend on the company and how they choose to go about things.
The thing about E-BUSINESS that I just hate is the fact there is no more need for face to face contact…everything can be done of the internet. Which make me wonder what will come next.
I too can only imagine what is next to come. Personally I would rather have someone helping me with certain purchases or problems. Like when you are contacting help concerning your computer that might be having problems. I would so much rather be able to have a person face- to- face rather then a software system helping me. E-Business is perfect but for certain things.
My view on this entry is very similar to the previous replies posted above. I believe in the power of technology and its contribution to the efficient innovation of any company. However, one of the driving forces to keep a company going is maintaining their customers, gaining new customers, satisfying their current customers, which in turn increases revenue for the company. So, a lot revolves on the customer.
Given the rate at which technology is develops, it has become increasingly difficult for businesses to keep up with the evolution of industry. Businesses can be crippled if they fail to adapt to modern innovation. Still, business cannot afford to follow every new trend. The question which businesses must be adept at answering is ‘Which disruptive innovations should we use and which should we let go?’ This process is called a ‘disruptive growth engine’. It has the following steps:
First, start early. In order to gain the best opportuunities, a business has to become a leader in noticing trends and adopting them better and before its competition. Second, Businesses must get executives behind the innovation. Third, A team of expert innovators must be in place to evaluate potential disrupyive innovations. Fourth, The entire organization must understand how to identify disruptive innovations.
Q. Which of the following is not a step in the process that the text calls the ‘disruptive growth engine’?
A. Start early
B. Build a team of expert innovators
C. Educate the organization
D. Keep potential disruptive innovations quiet until their value is determined
I agree with this. Businesses must adapt to changing technology, but at the same time most firms cannot afford to try out every new innovation. It is important that businesses determine what they need, and find a system would be most beneficial to them as a whole.
I agree with what you are saying, especially about “the entire organization must understand how to identify disruptive innovations.” Because innovation is only good when it is on the right track or is useful for the organization. If innovation is disruptive, then it would only be a negative factor to the organization and the entire purpose of innovation vanishes.
Sorry, I had some misunderstanding of the material earlier.
We need disruptive innovations and need to build onto it to grab market share. It is not a bad thing. Sorry about it.
Disruptive Innovations are important.
Valuing Innovations
• To differentiate itself, an organization must often deploy new, state of the art technologies, that do things even better, faster, and more cheaply than rivals that are using older technologies
Successful Innovation Is Difficult
• There are limits to using emerging information systems of gain or sustain a competitive advantage
Innovation is Often Feeling
• Given the pace of change in the digital work, advantages gained by innovations often have a limited life span
Innovation is Often Risky
• Developing innovative information systems always entails a risk
Innovation Choices Are Often Difficult
• For organizations, choosing among the plethora or available innovative technologies is far more difficult given the size and often, mission critical nature of the investment
• Choosing new technologies in the information systems area is like trying to hit one of several equally attractive fast-moving targets
• Given the pace of research and development in the information systems and component area, staying current has been nearly impossible
Organizational Requirements for Innovation
• Certain types of competitive environments require that organizations remain at the cutting edge in their use of information systems
• It is critical for these organizations to do things better, faster, and more cheaply than rivals
• These organizations are driven to deploy innovative information systems
• Before an organization can deploy and new systems well, its processes, resources, risk tolerance must be capable of adapting to and sustaining the development and implementation processes
Process Requirements
• To deploy innovative information systems well, people in the organization must be willing to do whatever they can to bypass and eliminate internal bureaucracy, set aside political squabbles and pull together for the common goal
Resource Requirements
• Organization deploying innovative information systems must also have the human capital necessary to deploy new systems
Risk Tolerance Requirements
• The last characteristic of an organization ready for the deployment of an innovative information system is that its members must have the appropriate tolerance of risk and uncertainty as well as the willingness to deploy and use new systems that may not be proven and pervasive as traditional technologies
The Innovators Dilemma
• Clayton Christensen’s The Innovator’s Dilemma outlines how disruptive innovations undermine effective management practices, often leading to the demise of an organization or an industry
• Disruptive innovations are new technologies, products, or services that eventually surpass the existing dominant technology or product in a market
Organizing to Make Innovation Choices
1. Start early
2. Executive Leadership
3. Build a Team of Expert Innovators
4. Educate the Organization
Implementing the Innovation Process
• E-Business: the use of nearly any information technologies or system to support every part of the business
Choosing Enabling/Emerging Technologies
• The first bubble left of the graph shows that successful organizations for create jobs, groups, and processes that are all devoted to scanning the environment for new emerging and enabling technologies (i.e. information technologies that enable a firm a accomplish a task or goal or to gain sustain a competitive advantage in some way; also called disruptive innovations)
Matching Technologies to Opportunities
• Next, in the second bubble the organization matches the most promising new technologies with correct economic opportunities
Executing Business Innovation for Growth
Assessing Value
1. Put technology ahead of strategy
2. Put technology ahead of marketing
3. Innovation is Continuous
When considering a cost-benefit analysis, it is important to consider a yearly maintenance cost for a certain software. You will have ongoing costs for being supporting the system, and fixing it when problems arise.
The ongoing costs are very important to consider especially due to yearly maintenance and emergency maintenance. A major factor in figuring out if the system is worth these costs is to estimate the level of productivity it will support in order to weigh them against the amount of yearly costs.
Valuing Innovations
•To differentiate itself, an organization must often deploy new, state of the art technologies, that do things even better, faster, and more cheaply than rivals that are using older technologies
Successful Innovation Is Difficult
•There are limits to using emerging information systems of gain or sustain a competitive advantage
Innovation is Often Feeling
•Given the pace of change in the digital work, advantages gained by innovations often have a limited life span
Innovation is Often Risky
•Developing innovative information systems always entails a risk
Innovation Choices Are Often Difficult
•For organizations, choosing among the plethora or available innovative technologies is far more difficult given the size and often, mission critical nature of the investment
•Choosing new technologies in the information systems area is like trying to hit one of several equally attractive fast-moving targets
•Given the pace of research and development in the information systems and component area, staying current has been nearly impossible
Organizational Requirements for Innovation
•Certain types of competitive environments require that organizations remain at the cutting edge in their use of information systems
•It is critical for these organizations to do things better, faster, and more cheaply than rivals
•These organizations are driven to deploy innovative information systems
•Before an organization can deploy and new systems well, its processes, resources, risk tolerance must be capable of adapting to and sustaining the development and implementation processes
Process Requirements
•To deploy innovative information systems well, people in the organization must be willing to do whatever they can to bypass and eliminate internal bureaucracy, set aside political squabbles and pull together for the common goal
Resource Requirements
•Organization deploying innovative information systems must also have the human capital necessary to deploy new systems
Risk Tolerance Requirements
•The last characteristic of an organization ready for the deployment of an innovative information system is that its members must have the appropriate tolerance of risk and uncertainty as well as the willingness to deploy and use new systems that may not be proven and pervasive as traditional technologies
The Innovators Dilemma
•Clayton Christensen’s The Innovator’s Dilemma outlines how disruptive innovations undermine effective management practices, often leading to the demise of an organization or an industry
•Disruptive innovations are new technologies, products, or services that eventually surpass the existing dominant technology or product in a market
Organizing to Make Innovation Choices
1.Start early
2.Executive Leadership
3.Build a Team of Expert Innovators
4.Educate the Organization
Implementing the Innovation Process
•E-Business: the use of nearly any information technologies or system to support every part of the business
Choosing Enabling/Emerging Technologies
•The first bubble left of the graph shows that successful organizations for create jobs, groups, and processes that are all devoted to scanning the environment for new emerging and enabling technologies (i.e. information technologies that enable a firm a accomplish a task or goal or to gain sustain a competitive advantage in some way; also called disruptive innovations)
Matching Technologies to Opportunities
•Next, in the second bubble the organization matches the most promising new technologies with correct economic opportunities
Executing Business Innovation for Growth
Assessing Value
1.Put technology ahead of strategy
2.Put technology ahead of marketing
3.Innovation is Continuous
When organizaing to make innovative choices, an organization must
A. Start early
B. Build a team of expert innovators
C. Educate the organization
D. All of the above
Sometimes you have to be careful when innovating. You should only do it when it is necessary for the business, you don’t want to be innovating just for the sake of innovation, it has to actually benefit the company in a business sense.
This is very true as the costs of implementing new systems are quite high. Over innovation and a high time lag may prevent the company from recovering the costs.
This was very informative.I always assumed innovations were underrated not because they didn’t boost sells or help maintain a company like apple a top because of there newer products but I thought it stopped there.
This was a very informational piece. It helped to see all the steps laid out for me to better understand how each step went and how it is distributed. Very good information and a great way to present it.
Information systems can provide many benefits and create a lot of value for an organization. In terms of automation, IS can make an organization work faster, reduce costs, and increase consistency by fully-automating previously manual processes. IS can also be used to provide information about routine activities to the organization. The organization can learn from this information to make improvements to their processes. Lastly, IS can be used to enhance or improve an organizations strategy to give them a competitive edge. IS can be used to help an organization reach their goals and achieve their desired organization strategy. Additionally, they can be used to create and deliver value to customers.
Information Systems can bring which of the following benefits to an organization:
a.Automating
b. Informing
c.Strategic
d. All of the above
(D.)
Oops! I posted this under the wrong section. It should be under Valuing Information Systems
Successful Innovation
There is a constant need for innovation within the IT world. Technology is constantly changing and companies and IT professionals have to keep up to be successful. There are three factors that make this difficult within this profession. The first is that innovation is often fleeting. The life span of “innovative” technologies is constantly shortening. If a new system is created it is quickly copied, modified, and improved. Second is innovation is risky. In the market of electronics it’s very easy to make poor choices that may seem right at the time. Only looking retrospectively can a company truly see if a choice was “good” or not. That makes technological innovation risky. Finally the innovation choices are often difficult. Tying in both previous factors it’s very difficult for a company to decide when to buy information systems and which of the innovations to buy.
Which does not stand in the way of successful innovation?
a) Innovation is risky
b) Innovation is ephemeral
c) Innovation choices are risky
d) Innovation is almost impossible <——————– Answer
You are giving the reasons why innovation is difficult such as that it is fleeting and it is risky and the choice of when to innovate is difficult. Technology definitely does not last a very long time before something comes out to trump it and sometimes it is hard to measure the benefit of technology, and when to buy information systems and which one to buy is difficult and hard to determine for upper level management. These are good reasons but how does management actually end up choosing one information system over another? Is there a method they use to pick one over the other? How would they determine when technology is worth investing in and when the technology will fade very quickly?
I think you bring up very good points about technology and how it comes and goes and is always replaced by the next best things.
To answer your questions, in my opinion I think it depends on what technology they are looking for. For most business (not the pioneers), they already have some sort of an idea of what they need from the technology so it helps narrow down the choices. I also believe that the pioneers’ opinions of other business play a role in the decision because if other companies that invested hate the new technology, why should other companies jump on that bandwagon. As far as when to invest in technology, everyone knows that it will always be replaced so I guess it depends on when it is needed such as if they are replacing their computers and it is urgent then they will have to invest in current technology rather than wait for a new invention to come out in a year or whatever. As far as technology fading, that’s a risk one has to take and I also think brand loyalty comes into play. People are more likely to buy from Dell, HP, Apple etc. rather than some random computer company since people have faith in their products.
This paragraph is real well worded and I now have a better understanding of organizaing to make innovative choices. Before reading your essay I pick an answer and I though It was (C).
This paragraph is real well worded and I now have a better understanding of organizaing to make innovative choices. Before reading your essay I pick an answer and I though It was (C)
When it comes to deploying a new system, a company must meet its organizational requirements for innovation. Before a company can implement any new systems well and effectively, its processes, resources and risk tolerance must be capable of adapting to and sustaining the development and implementation process. First, people in the organization must be willing to do whatever possible to forgo and eliminate internal bureaucracy, pulling together for the common good. Second, the company must have the necessary human capital in order to deploy the new system. There must be a sufficient number of employees who have the proper knowledge, skills, time, and other appropriate resources to effectively implement these new systems. Lastly, employees must have the appropriate tolerance of risk and uncertainty as well as the willingness to deploy and use the new systems. Many times, innovations are short-lived and temporary before several companies adopt the new technology. Other times, innovations completely fail and the business must be aware of this risk and the associated uncertainty.
Multiple Choice Question:
Which of the following is NOT an organizational requirement for innovation?
A. Processes requirements
B. Resource requirements
C. Economical requirements
D. Risk tolerance requirements
Correct answer is C.
Resource requirements seem to be the most important aspect of deploying a new system. If the company does not have the necessary human capital to utilize the system correctly then it will just end up being a huge waste of money. The other two factors (especially process requirements) seem like they can be dealt with by promoting a certain type of culture within the company.
What gets me about companies implementing a new systems is that everything can go right from having the right amount of funds to having your systems already in place, being able to adapt to the new system. All of that could be for nothing is the employees either don’t know how or are not willing to work with the new system.
That is definitely a big problem. Many companies go out of business because they can not adopt to new technology. It’s sad because we are definitely a technology based country now and become so more and more every day. Everyone tries to use technology to make their lives that much easier and quicker but there are a lot of people who are against it and stuck in their old ways. I am not saying that it is bad but more so saying that because they are stuck in their old ways, they are getting passed by the people who use technology to speed everything up.
Regarding “risk and uncertainty”, training cannot be overemphasized. From personal experience, implementation of new technologies can be painful for management. Managers have to come up with a good reason why employees should move away from technology they got used to, and at times perceive as comfortable.
As innovation continues to develop technology, it inevitably creates a product which replaces a previous product. For example, the CD replaced tape decks, and the MP3 player has replaced CDs. When a product replaces or outdates another product, it’s called disruptive innovation.
After a new product has been released into the market, it tends to be adopted by the public in similar phases. During the first phase only a few people, named innovators, adopt the product. This is followed by a slight increase in adopters, aptly named the early adopters. After the early adopters the early and late majority adopt the product. It is at this point the product becomes “mainstream.” After the late majority adopts the product, the remaing people, named laggards, finally adopt the product.
Question:
Which of the following is NOT an example of a disruptive innovation?
A) Records
B) Tape Decks
C) CD players
D) MP3 Players.
Answer: A) Records, they had nothing to replace.
This is the concept my marketing professor talked about to us. You need to get the early adopters to adopt in order to have any chance of success because if the early adopters don’t adopt usually consumers don’t learn and adopt the product. Plus the early adopters are usually where the higher profit is because they are more willing to pay top dollar for a product because they are more focused on quality.
It is funny that “Records” is one of the multiple choice questions, because records are too “general” and it can be any kind of new device as well.
I’m sure when he mentioned records he was referring to that big black circle thing that people used to use to play music years ago. You have to look at it in the context of what he is mentioning it in. Although records could mean lots of things, when its in the same question as cd, mp3, and tapes, it is clear that he is talking about the records that play music or nowadays D.J. use to make a scratch like beat to their music.
Innovation plays such a huge role in technology. Technology is constantly changing and becoming more and more advanced. It is through innovation that we are able to slowly adapt to all of the new products. All of these innovations have been helping to replace past products with newer and faster ones.
Many companies nowadays promote innovation, because they need to keep themselves up to date in order to survive in today’s world. Innovation can be in many different fields, such as improving there IS. It is very important for those companies to be able to do things better, faster, and more cheaply than those of the competitors.
In order to keep up with the industry and have innovations, people in the organization must be willing to bypass and eliminate internal bureaucracy and political squabbles. In addition, the organization must have enough employees available with the proper systems knowledge, skills, time, and other resources to contribute to the system. The organization must have the ability to bear the risk of using a new system instead of the old one.
Question:
Which of the following is NOT a factor of innovation?
a.people in the organization must be willing to bypass and eliminate internal bureaucracy and political squabbles
b.organization must have enough employees available with the proper systems knowledge, skills, time, and other resources to contribute to the system
c.employees should be very conservative about using a new system, because it takes time to adapt to the new one
d.organization must have the ability to bear the risk
Answer: C
It seems that obtaining enough resources would be the most complex requirement of the organization. If a company identifies a new innovation but they do not have enough employees in order to implement that system, the company will face a problem. Not only will HR need to be addressed, but the additional hiring of employees would inflate expenses and costs. The company would have to determine whether the innovation’s benefits exceed the costs or not. This decision is something that would need to be addressed on a managerial level and is not an easy one. Determining whether human capital is efficient is another complexity that must be addressed. How much training would need to go into the implementation process? What margin of the employees are considered to be most productive? How many employees actually have the knowledge, training, and skill set that is necessary to implement the innovation? All of these questions would have to be tackled by management.
I don’t really agree with your multiple choice answer. Depending on the innovation or type of system a company is implementing, the company may choose to steadily convert their old system to their new system while using both at the same time (Parallelism) or in a phased conversion part of the new system is used while part of the old system is used. Does employees being conservative in adjusting to the new system necessarily damage the success of the innovation? I think if they are following the orders of their superiors in being semi-conservative with the new system, it might be better than simply aggressively incorporating a system which might fail.
Does employees being conservative in adjusting to the new system necessarily damage the success of the innovation? I’m also a bit unsure.
The need for constant successful innovation for a company is hard. The problem that occurs is that it becomes very hard to predict what type of effect it has on not only the company but the industry, how long the benefit of this innovation last, and how much will this really cost. Other problems include will the company employees accept the innovations because if they don’t there is no point in making them because they will only cost you money. Also picking what needs to be innovated and what doesn’t currently need to be innovated is very difficult. What also has to be factored in is what are our competitors deciding to do. If they are deciding to innovate in some area, could it be in our company best interest to wait and learn from their mistakes? Ultimately the goal of innovating is to create a sustainable competitive advantage.
Multiple Choice Question:
Which of the following is not a risk a company faces when innovating IS systems?
A. Employees don’t buy into the systems because they might lose their jobs, etc.
B. If an innovation is unsuccessful the time it took to implement could cost millions and millions of dollars if not hundreds of millions.
C. Programming malfunction leads to loss time and money
D. None of the above
Answer: D
I think that companies who become pioneers of innovation are the companies that everyone else wants to be like. for our generation, the most obvious of innovators is Apple. Sometimes it is better to sit back and learn from other companies mistakes while they try to innovate. However, the companies innovations may be flawless and other companies may trail as Microsoft does constantly with Apple. As we see daily, Microsoft and other companies tend to play catch up with Apple. It really comes down to risks and luck in my opinion.
Innovation is difficult and fleeting. The innovator faces a dilemma, having to make the hard decesion of which innovations to adopt and pursue. Adoption of new innovation usually follows an S-shape curve. There is a small group of early adopters, and then sales increase rapidly with the early majority, leveling out with the late majority and the laggards. Then there is disruptive innovation that eventually surpasses the existing dominant technology, product, or serve in a market.
Which of the following was disruptive innovation for Compact Disks?
A: MP3 players
B: Radio
C: Cassettes
D: Records
Answer is A
I just want to make a comment that MP3 players these days have become more popular than the “old” device. In fact, it is a good device when everyone can carry easily as well as putting in the pocket too.
Also, when I said about “old” device, I meant like CD players, tape recorders, etc.
I definitely feel that MP3 players have become a disruptive innovation to CD’s and CD players. Not many people even advertise CD players and home sound systems even now come with either built in MP3 players or wires to attach your MP3 players. It is simply amazing how fast the MP3 player technology is growing and has grown.
I feel that Mp3 players have become a disruptive innovation of CD’s. but I do not think CD’s will become completely extinct like cassette/ cassette players, mainly because Mp3 players, much like ipods and itunes on your computer can malfunction and all of your songs are gone. I tend to keep as many of my songs as possible on CD’s as back up in case my ipod or itunes goes.
I think that Cd’s will eventually become extinct just like cassettes, but only if improvements to MP3′s can be made. Physical copies such as CD’s would not be necessary when people backup their data on devices like external hard drives. These new innovations will help to eliminate older technologies.
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