Answer To: 2 Idea GenerationAssessment TypePractical Assessment Task DescriptionThe objective of this...
Tp Academic answered on Aug 27 2020
Running Head: Idea Generation
11
Idea Generation
IDEA GENERATION
Table of Contents
Introduction 2
Investigation of cases related with disruptive innovation with the help of applying lean entrepreneurship principles 2
Development of conceptualization framework, innovation personas and horizon thinking in order to deal with the above mentioned cases 4
Demonstration of different stages of the chosen innovative business model along with forecasting of success and market diffusion 5
Conclusion 6
Reference List 8
Appendices 10
Appendix 1: The Business Model Canvas 10
Introduction
Development of brainstorming ideas for business is beneficial as well as essential as it helps in determining goals. This in turn allows an organisation to prepare its teams prior to the session of introducing any innovation. This part of a business is also crucial as it allows developing of a healthy relation in between the team members thereby encouraging thoughts of individuals.
In this study, focus has been given on Think Big and some of the most predominant disruptive innovation cases. Based on the emerging disruptions, a business model canvas has been prepared which in turn can help in contributing to market diffusion and success.
Investigation of cases related with disruptive innovation with the help of applying lean entrepreneurship principles
As per lean entrepreneurship principles, every business requires a management so that innovation can be incorporated in the field of entrepreneurial outcomes. In accordance with the findings put forward by Amanullah et al. (2015), it can be said that this in turn includes measuring of the ultimate progress along with setting up of milestones. Based on the reports of CES, one of the largest places for gathering information about consumer technological advancements for business, innovation has dramatically disrupted several existing businesses. These disruptive innovations have been referred as “Bing Bang Disruptors”. Some of the cases related with this are as mentioned below:
Immature yet essential 5G
Based on the ideas of França et al. (2017), next generation internet has been introduced with an aim to support and handle applications which are dependent on high as well as low bandwidth and have higher traffic volume. It has further been expected by 5G to offer increased security, coverage and reliability after 2020 as showed in the figure below.
Figure 1: Infrastructure of 5G
(Source: Nunes & Downes, 2016)
However, at a panel discussion, Ericsson, Qualcomm, Cisco and Intel have commented on the fact that regulatory, technical as well as financial challenges related with this innovation can have a direct effect on 4G LTE. In addition to this, it has been found that this new standard can easily support demands of new disruptors. For instance, cars which are self-driven would require less than nanosecond network latency. Furthermore, with introduction of this standard, robotic surgeon can lose their ability to work. Reason behind this is that there would be a possible radio interference with emergence of 5G (Nunes & Downes, 2016).
Autonomous vehicles
Use of automation has increased by more than 25 percent resulting in exhibit space of 200,000 square feet (Nunes & Downes, 2016). Effective utilization of this technology has moreover, been possible because of hybrid models and hydrogen fuel cell of Tesla. In these innovative cars, there is involvement of sensors and cameras which have been embedded in the infrastructure of the car. Implementation of fully automated transmission and power brakes have been estimated to be into action after 2020. However, there are regulatory issues which are associated with this innovation. This is evident from the fact that adapting traffic and mobile networks handling large volume of data requires millions of vehicles to be in use.
Moore’s law
Businesses of this digital world have experienced several improvements in context to size, power, utilization of computing as well as price. However, these parameters have been predicted to be the Uber disruptor by Gordon Moore (Bolton & Hannon, 2016). This is due to the reason that phenomenon which is cheap having resulted in driving transformation in wide range of businesses. In order to add wireless technology in the form of displays, cameras, sensor and antenna, the marginal cost associated have almost become negligible. This in turn has resulted in having a disruptive impact on globalization that is on the computing industry, media and entertainment. Innovation has allowed businesses to make use of Ecovent, a temperature control system as well as kludgy plug adapters. On the other side, Coviello & Tanev (2017) argued that these technologies have made it possible to send stream of analytics and data to any smart devices. This has contributed in making the digital technology invisible thereby opening up scope for the hackers to access personal and confidential data.
Problem identification
Several problems are identified in 5G technologies such as trials, testing as well as deployment, global rollouts, issues of spectrum and network densification and small cells, network slicing and virtualization. Therefore, the management of business needs to take important decisions with regard to resolution of problems of 5G technology. For these problems, the business needs to control cost for the maintenance of 5G technology. To control test cost, engineers must take the decisions as to which tests need to be done in an OTA chamber. Another method is to develop FFm conversations or reflection parameters including measurement location, measurement range, radiation pattern measurement, antenna diagnostics and analysis. To compensate for limited transmission distance and operation in Non line of sight environments, smart beam forming and beam tracking may be integrated into 5G transmission. The...