Question

There is a need to innovative solution to solve complex problems. Explain and enrich your answers by 2 examples from real market.

Answer 1

For every Organization, the word "Innovation" is a key to success for its development and the growth and it is one of the most important aspect for them. It can be considered as a positive change in terms of efficiency, productivity etc. When we talk about "Innovation" its likely to see some roller coaster ride for every individual, so it turns out to be a murmuring sound and believes to be useless. But, in today's era, "Innovation" is very critical for our economy that is why we are taking it so seriously. Also, it has to be understand properly by every individual.

The recent research highlights that the "Innovation" plays a complementary role in any organization and it results in having a innovative activity which leads to their growth.The term "Innovation" can be defined as a process of moving the ideas into goods or services which create values for the customers. An idea must be cost efficient and must satisfy the need of the customers and increase profit, it must be informative and imaginative in obtaining different values from different resources and all ideas should be gathered by all process of an organization. In businesses, innovation will results in profit if the ideas that were generated are applied and to further satisfy the expectation of the customer. Innovation helps to create new process or methods and starts with innovating products which are more efficient and effective for an organization.

Importance of Innovation in Business

The organization must focus on the proper structure which will help them to lead in the competitive market and it is necessary to have a innovative environment in the workplace. There are various reasons why innovation is importance in modern times, some of them are listed below :

• It Solves problems easily : There are times when you face certain problems in the business and to avoid this we need to come up with creative ideas which will help to make the product better and creative solution will grow the business.
• It Increases the productivity : Organization should focus things that to be streamline and if it has streamlined process it will increase the productivity of employees and will help employees to work smartly in an efficient manner.
• It Market the Business : It is very important to make the business stand out in the crowd. Just a innovative market plan can make the business unique from all other businesses, so innovative ideas are very important to make people to remember the business.
• It Beats the Competitors : It is very easy to beat the competitors as just a little creativity in designing the products will help in attracting the customers and connect with them easily.

Now, let us discuss how Innovation has helped the organization to solve complex problems.

As per the recent study, changing the mindset and asking the questions may lead to grow the innovative practices within the team. In today's market, innovation is not just about innovating new products, it is also about exploring the market and identify the customer needs. And in this ecommerce era, the innovation has became a huge challenge by driving the new ideas and executing them in front of the competitors. To solve this problem, team needs focus on to frame the challenge and defines how the solution can be eliminated with the help of innovation.

To have a full power to solve the problem we need to have a creative thinking because the process of solving the problem may seems a rational and most of the managers wants to incorporate this as a daily practice in an organization. Few steps are as follows:

• Identification of a problem : The cause of a problem should be identified properly by analyzing the product.
• Gather Data information : After identification, all the information related to the problem should be gathered in a database.
• Diagnose the problem : Once all the information are gathered in the Database, it should be diagnosed properly by checking all the pros and cons of the business.
• Developing the possible solution : After diagnosing, a possible solution should be developed.
• Analyzing each possible solution : All the possible solution should be analyses properly so that corrective action should be taken.
• Implement and Evaluate : Possible solution should be implemented and evaluated by an organization.

Innovation plays a very vital role in the above process as it helps in analyzing the possible solution and creating a new idea to streamline the process. To have a full advantage of creative development we need to train our employees on various problem solving techniques such as SCAMPER, it is a framework developed by Bob Eberle which means Subsitute, Combine, Adapt, Modify, Put to use, Eliminate and Rescue.

The Innovation can be explained well with the below listed Examples:

Hello Tractor Inc, They are nicknamed as "Uber tractors". They are the social enterprise in Nigeria and sub-Saharan Africa which helps farmers to request service for Smart Tractors. They are designed as low cost Smart Tractors which fulfills the farmers needs to provide them various crops and equipments throughout the year. They have built a network amongst the farmers and provide leverage of "Tap the ride" strategy who provide the transportation services to labor constrained farmers. Farmers can drop a message, schedule and prepay the tractor ride.

Telemed Medical Services, aim to provide health care facilities to the areas where healthcare facilities are not available in Ethiopia. They have created a Hello Doctor facility where people can instantly consult a doctor. Beneficiaries use their phones as a prepayment and instant medical services are provided to the concerned person.

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