World of Innovation: Case Study
Business organizations today regard innovation as critical to competitiveness. Globally, 83% of participants in an innovation survey responded that innovation was highly decisive factor in relation to their organization’s success while 88% of the participants responded that this will be for the coming five years (Shelton & Percival, 2013). Although sometimes innovation happens by accident, innovations of products or processes mainly arise out of deliberate effort in research and development (R&D). (Artz, Norman, Hatfield & Cardinal, 2010). Even though R&D spending has become a very important aspect in the competitiveness strategy of organizations as well as becoming a key point of focus for managers, intense debate still continues on the extent to which R&D is benefits business organizations from an economic performance perspective. (Artz, Norman, Hatfield & Cardinal, 2010). This matter has been the subject of serious research however; it has not been conclusively ascertained. (Artz, Norman, Hatfield & Cardinal, 2010) Research still continues on the direction, extent, as well as if the link between R&D spending and firms’ financial performance is consistently positive. (Artz, Norman, Hatfield & Cardinal, 2010).
Traditional methods of measuring of innovation using R&D spending and the number of patents granted have long been considered as indication of economic performance both in organizations as well as nationally. (Bessant & Tidd, 2011). Even though this largely true, R & D spending and the number patents are however not predictive for most of the sectors while also not being reliable performance indicators at the organizational level. (Bessant & Tidd, 2011). More comprehensive indicators of innovation include the percentage of revenue from innovation and new products as well as the level of differentiation. (Bessant & Tidd, 2011). These represent more wide-ranging, robust and reliable indicators of economic performance. (Bessant & Tidd, 2011). More critically, organizational, process, and managerial innovations have greater potential of resulting into economic and social gains. The relationship between R&D spending, number of patents and economic performance can therefore not conclusively be considered as always being linear and positive because adopting innovations can also result in a greater impact compared to generating innovations. (Pandit, Wasley & Zach, 2011)
Existing network problems
The technical aspects include defining of the system, and this involves system analysis, design, coding, and then testing and system installation. It also includes training, data conversion, operations support such as problem management as well as definition of releases, evaluation of alternatives, reconciliation of information across various stages and the overview, which is definition of the technical strategy of the project. The management aspects involves the establishing of priorities, definition of goals, tracking of the project and status reports, change management, assessment of risk, analysis of cost versus benefit, user interaction, vendor management, post implementation analysis, as well as quality assurance evaluations. Meeting each of the objectives and the requirements of the SDLC necessitates that specific design approaches must be followed. The SDLC must be representative of a system developed through the use of the techniques it stand for This means that it should employ a layered approach for analysis, design, installation support as well as production support. This also implies that the specific project operations and how they are implemented must be kept distinct in relation to carrying out the tasks and producing the outputs. The SDLC must also organize its information must also be organized in a hierarchical method such that users with different level of knowledge will locate whatever they need easily and quickly.