Managing Innovations in Organization for Nokia and Ericsson

Question: Discuss about theManaging Innovations in Organization for Nokia and Ericsson. Answer: Introduction Innovation is considered as an important aspect for the organization because it enhances the productivity of the employee in an efficient manner. Technological innovation will be discussed in this assignment. The specific type of innovation related to technological innovation will be mentioned in this assignment which will show the impact of it on various organizations. Innovation has the number of components such as challenge, deliberation, culture, customer focus and completion (Biemans, 2018). The milestones of the specific innovation will be elaborated to understand the importance of technological innovation on various organizations. Technological innovation Technological innovation is advantageous for many organizations as it assist to make work easy and fast. There are various technological innovations done in the world (Parhankangas Ehrlich, 2014). Mobile Commerce is one of them which bring the huge change in the world. M-commerce is assisted to buy and sell of goods and services by wireless handheld devices such as cellular telephone and personal digital assistance. M-commerce is the technological innovation which enables number of users to access the internet without plugging the device. In order to develop the m-commerce market potential, there are various handset manufactures like Motorola, Nokia and Ericsson with carriers (Digital, 2017). Major subtypes of innovation The major subtypes of this innovation are defined below: Online mobile shopping By taking help of internet based applications, a user can compare various online websites of shopping or can purchase online things. Online mobile shopping facilitates people to find out what they want and order without going outside from their home. It is being done with the help of internet (Cowhey Aronson, 2012). It has various benefits as it enables people to send gift without moving at lower to higher price. The market place on the internet makes easier to purchase or sell the products at affordable rate. Mobile banking Mobile banking is the service that allows customers of banks or financial institutions to make payment or invest remotely by using the mobile device. It is being done with the help of respective cards which is issued by bank (Koellinger, 2008). This card contains a unique card number or CVV number which is necessary to make payment. Mobile e-wallet Mobile e-wallet is the online pocket service where an individual can keep money by withdrawing from his account with the help of respective debt card. It has been found that there are various e-wallet applications have launched which provide the service to keep the money safe in mobile. The major feature of this subtype is easy accessibility; ensure timely payments and quick transfer of funds (Chen Huang, 2009). Mobile POS Mobile POS is also known as the point of sale which is the latest trend. It is specialized in card swiping machines; it provides the convenience to utilize the mobile device to collect payment from the credit card. There are number of organization that uses this technology to get payment from the customers. It helps government as well to protect the paper as numbers of people have started the use of e-money to make payments. Important milestones The important milestones of this specific technological innovation are described below: The World Wide Web The first web browser and server were created in 1990 when business to customer services was not lucrative industry in commercial terms. After few years, it has been evaluated that millions of domains were registered under this term and numerous business had online appearance. Online bookstore was founded at Amazon in 1995. This company was first company that provided online transaction (Augment, 2016). Payment Gateways Payment gateways link the website of the merchant to the bank. It can be used by putting the details of the card and checking out, the data is encrypted and assembled and sent to the browser of the merchant. The collected data by payment gateways is sent to the bank processer of payments, where the payment is either acknowledged or rejected (Walker, Damanpour Devece, 2010). In case of acknowledgment, the money is deducted from the customer account and transfer into merchants bank account. Online Reviews It has been found that in 1999; three review websites were emerged that was Deja.com, RateItAll.com and Epinions.com. It was done first time at the internet where customers were asked to rate and review the products. More than a billion reviews were written within 6 months of mentioned year. In todays era, business invites users to provide reviews about the products. Today, the powers of reviews are strong as it can make or break the product. The Popularity of Smartphone It has been found that in 2007, Apple launched iphone through which the user can download the application for online shopping from IOS store. It allows small entrepreneur and businessman to reach customers outside of the country. A cheap smart phone with depth internet penetration has permitted businesses to reach to entire new audiences (Raisch Birkinshaw, 2008). Augmented Reality Augmented reality is the latest innovation to bless the new generation. It provides the natural views of the services and products to the users which help them to buy the things after considering the look, pros and cons of that particular product. Complex augmented reality technology is advanced technology that provides latest services such as interact with the visuals in different or innovative terms by mobile devices (Miller Morris, 2008). This technology at store can show the customers how product will look when assembled. Impact of innovation organization management approach The organization management approach has affected due to the latest technological innovation because it brings the changes in every activities of the business (Goetsch Davis, 2014). There are various organizations that has influenced due to mobile commerce. Uber is the great example of mobile commerce that shows that people can book a taxi by putting information of destination on application with the like of the button. Uber get benefitted with the help of this innovation as it employs so many people for providing the better services to its customer. Organization can get more advanced in term of technology and provide the efficient services to the customer which enhance the growth of the business (Von Stamm, 2008). It has been analyzed that the growth of m-commerce is hugely dependent on the trustable mobile payment systems. It is the powerful way to reach the customers that is why Starbucks can reach at high position as it adopts a mobile commerce. The transactions at starbucks are mostly done via online and it has been found that in 2013, 10% of entire transactions were happening via mobile banking. There is another example of adoption of M-commerce is Amazon which is one of the largest commerce players in the world. It has developed its strategy by providing the various kinds of products and services to the customer in which it offers them to make payment online. M-commerce is considered as the emerging area of research. The applications of m-commerce are increased the business of the organization as customer can get various products and services of specific organization by using the application of the organization (Strout, 2016). Recommendations Technological innovation is an effective innovation which enhances the productivity of the employee which increases the growth of the company. M-commerce enables people to make payment online without moving from their place as it has given facilities to them for online shopping, banking and many more which shows that technology can change the daily life of the human, however, M-commerce brings the huge changes in the living standards of the people but there are some recommendations which can increase more comfort ability of them (Faqih Jaradat, 2015). It has been recommended to the Amazon that includes the system of e-wallet where customers can transfer the money and keep the money for online shopping to their relatives or known one. As it has been discussed in the example of Starbucks that it has adopted the latest technology of m-commerce that provide outcomes of number of transaction via mobile. It can be developed more customers if Starbucks start to provide the online offer or cash back facilities via mobile commerce. It will helpful for the organization to increase the attention of the customers towards the services of the business (Choi, Poon Davis, 2008). Uber is the big company that provides numerous facilities to its customer in relation of booking taxi for reaching the destination. The contribution of M-commerce can be done in effective way if Uber start to allow the mobile POS facility to the customer. Customer should be allowed to make payment via their card. It would be great innovation which helps company to increase the ratio of the customers effectively. Innovation should be done in effective manner by adapting the latest trend of the market. References Augment, 2016. The Biggest Milestones of Ecommerce History. Retrieved from: https://www.augment.com/blog/biggest-milestones-ecommerce-history/. Biemans, W. 2018.Managing innovation within networks. Routledge. Chen, C. J., Huang, J. W. 2009. Strategic human resource practices and innovation performanceThe mediating role of knowledge management capacity.Journal of business research,62(1), 104-114. Choi, B., Poon, S. K., Davis, J. G. 2008. Effects of knowledge management strategy on organizational performance: A complementarity theory-based approach.Omega,36(2), 235-251. Cowhey, P. F., Aronson, J. D. 2012. Transforming global information and communication markets: The political economy of innovation.MIT Press Books,1. Digital, 2017. What is m-commerce and what are its types?. Retrieved from: https://www.digitalabhiyan.com/web-designing/m-commerce/. Faqih, K. M., Jaradat, M. I. R. M. 2015. Assessing the moderating effect of gender differences and individualism-collectivism at individual-level on the adoption of mobile commerce technology: TAM3 perspective.Journal of Retailing and Consumer Services,22, 37-52. Goetsch, D. L., Davis, S. B. 2014.Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Koellinger, P. 2008. The relationship between technology, innovation, and firm performanceEmpirical evidence from e-business in Europe.Research policy,37(8), 1317-1328. Miller, W. L., Morris, L. 2008.Fourth generation RD: Managing knowledge, technology, and innovation. John Wiley Sons. Parhankangas, A., Ehrlich, M. 2014. How entrepreneurs seduce business angels: An impression management approach.Journal of Business Venturing,29(4), 543-564. Raisch, S., Birkinshaw, J. 2008. Organizational ambidexterity: Antecedents, outcomes, and moderators.Journal of management,34(3), 375-409. Strout, A. 2016. Frictionless Mobile Commerce: 5 Examples Of Companies That Are Leading. Retrieved from: https://marketingland.com/frictionless-commerce-5-examples-companies-leading-81351. Von Stamm, B. 2008.Managing innovation, design and creativity. John Wiley Sons. Walker, R. M., Damanpour, F., Devece, C. A. 2010. Management innovation and organizational performance: The mediating effect of performance management.Journal of Public Administration Research and Theory,21(2), 367-386.