Question

CASE STUDY QUESTION

Miss Yinnary is one of the many women who own their own businesses and her experience is not very different from others, who must contend with being a mother, a spouse and a family cheerleader in addition to owning and operating a business. She is the owner of the famous Y-Hotel. It was her first business, though she had some family background in this business. Her two sisters were also in the same line of business. But she borrowed some money, put in some of her savings and started her own venture. She was the first woman ever to enter into this business, most of her clients could not understand that a woman could be interested in the hospitality industry. To Step up her game in the hospitality Industry , Miss Yinari is seeking someone who understands innovative entrepreneurship to assist her. During her rise to success and in management of her hotel business, she also needs to manage a family, stay teaching in university and dealing with community affairs.

In her mind, there is nothing more exhilarating than owning her own business, and for her, the fun is in facing the challenges of turning the hotel into a first ever hotel that provide customers an unforgettable experience with innovation

In the present time, more women are making this choice, pursuing entrepreneurship rather than staying as housewives or traditional careers. For the past few years, the number of women starting new ventures is three times as large as the number of men. There are several good reasons for this trend. Some women find that owning a business is the only way to combine a decent income with time for their children by having the flexibility to control their schedules. Others see themselves as unlikely corporate managers and recognizing the gender problem that exists for achieving success, they choose the entrepreneurial route. Still others see entrepreneurship as a way of controlling their lives, pursuing interests that would be impossible in a corporate job.

The dual roles of mother and entrepreneur often conflict, and husbands and wives

tend to develop separate career tracks that often cannot be reconciled. Women can

also find it lonely in a business world, especially if clients are predominantly men,

this was a problem for Yinari too.

Many women, however, have businesses that fit well with their interest and with

women customers. These include services in beauty care, nutrition, education,

entertainment etc. Nevertheless, being in business often exacts a double price for

women, yet for those with determination like Yinari, the rewards are always waiting.

Your Task as Business Consultant , Prepare a report regarding the following issues below :

H. If unrelated diversification is not possible, explain your thought in term of related diversification

I.What is the Tao of Innovation? Explain in detail the 9 elements of the Tao of Innovation. Give examples !

number h and i the question were based on study case article from above you need to explain more detail and provide the example

Answer 1

(H) Unrelated diversification involves entering into new industries. Thus, it is possible to spread the business risks over different industries. Businesses with different technologies, markets and customers have the potential of absorbing risks related to the investment of the company.

However, research evidence indicates that related diversification is less risky than unrelated diversification from a financial point of view.

Related Diversification occurs when the company or a firm adds to or expands its existing line of production or markets. In these cases, the company starts manufacturing a new product or penetrates a new market related to its business activity. Under related diversification the company makes easier the consumption of its products by producing complementing goods or offering complementing services. For example, a shoe producer starts a line of purses and other leather accessories; an electronics repair shop adds to its portfolio of services the renting of appliances to the customers for temporary use until their own are repaired.

This type of diversification is used mostly by small businesses and entrepreneurs because it is less risky. In the majority of cases it does not require big investments and owners feel more secure because they know the opportunities and threats in the field of their main business activities.

Experience shows that it is useful for a company to concentrate on related diversification:

1. When the core competencies of the company apply to a variety of business, situations.
2. When the management of the company is capable enough to manage the affairs of several businesses simultaneously.
3. When trade unions in the company do not create resistance to the cross-business transfer of manpower and other resources.
4. When ‘bureaucratic costs’ of implementation do not outweigh the benefits derived from resource-sharing between businesses. Bureaucratic costs arise mainly from coordination efforts that are required among different businesses of the company.

The Tao of Innovation represents the synthesis of the most influential thinking on innovation. The Tao of Innovation is the first book to blend Eastern philosophy with tried-and-true innovation strategies. It presents a holistic, intuitive and practical approach to developing game-changing innovation. the authors have distilled the most influential thinking on innovation into a holistic set of nine key innovation questions that every innovator must answer throughout the innovation cycle. These provocations apply to any business or organization and illuminate fundamental principles and practices of successful innovation.

Nine Questions Every Innovator Must Answer :

• How is the Nature of Your Business Going to Change?
• How Do You Know When There is an Opportunity for Innovation?
• How Do You Compete to Outsmart Established Players?
• How Do You Move Beyond the Status Quo?
• How Do You Put Yourself in the Right Place at the Right Time?
• How Do You Craft a Strong and Lasting Go-to-Market Strategy?
• How Do You Know Whether Your Idea Can Survive in the Real World?
• How Do You Scale Successfully?
• What is the Deeper Purpose that Drives You to Innovate?

STEPS FOR YOUR ACTION PLAN

1) Construct a View of the Future

2) Lay new bets

3) Revise your mission and vision

WHAT THEY HELP YOU ACCOMPLISH

1) Helps you to predict future trends and needs so that your organization can anticipate and capitalize on them as they emerge.

2) Directs your organization’s structure, resource allocation, capability development, and ultimately its innovation strategy.

3) Aligns your organization’s purpose and aspirations with the new bets you have laid about the future to drive change.

A Case Study with Industrial IoT: Becoming #1 in Hyper-Accelerated Markets

This acceleration has been found to create “agile whirlpools” in some markets. One case study in our research experienced a “hyper-accelerated market” which created some very unique conditions. This provided us with an excellent laboratory under which we were able to observe how a company achieved “optimum” performance, or essentially “agile nirvana”. We call this phenomenon reaching the point of “agile vorticity”.

In this case study, the technology developers were in the IIoT market, developing smart devices for power utilities that wanted to upgrade their grids to the latest “green technologies”. Not only does this technology save money and protect the environment, it provides greater security as well.   The subject of our case study faced a number of challenges:

Extreme innovation

1. Communication technology was rapidly changing. From low power RF signals to cellular to Power Line Carrier, there are a host of communication methods that could be used to transport data from the field to the utility. Adopting the best technology could make or break a company. Our case study had invested deeply into RF technology, and was constantly faced with new threats.
2. Device capabilities dramatically increasing. Originally a fairly dumb device, electric, gas, and even water meters were acquiring the ability to manage zigbee devices throughout the home, communicate pricing to customers, and perform detailed event and power data. Our case study was rushing to create the smartest IIoT devices of all!

Extreme Market Pressure

Governments provided utilities with incentives to switch to smart grid technology. At the same time, these smart devices had a long life span of up to 10 to 20 years, so once a utility selected a vendor, they had a customer virtually for life. There were several relatively small vendors and only a fixed number of “big utilities”. This created a “land grab” situation where each vendor was rushing to capture as many big utilities as they could. Whoever won, would dominate the market for years to come.

These conditions of extreme market pressure and extreme innovation created a hyper-accelerated market. One in which innovation and market pressure are so great, that they result in a virtual hurricane for vendors to navigate.

here are some pictures for your help:

This is important because hyper-accelerated markets are becoming more and more frequent and the method of responding to them may become the operational standard for technology developers. Just as our own weather is slowly becoming more turbulent with greater occurrences of hurricanes and tornados, so are markets becoming more volatile.

FOR EXAMPLE : Apple keeps producing its personal computer line of products even though personal computers are not generating the high profits its new product lines, such as the iPod, iPhone, and iPad, are. Apple preserves important continuity in branding and design to continue to appeal to its loyal and captive customer base. The company uses its MacBook line of personal computers as a “product platform” to integrate the functionality of its new generation of iTunes, iPhone, and iPad into a seamless value proposition. This continuity in product platform, branding, and design actually helped Apple to facilitate change and the significant impact its new products have created in the computer industry and our lives.

thanks