Innovative technology and organizational ecosystem case study

Innovative technology Implementing internal and external technologies. How do the implementation issues differ? How are they the same?Advertising We will write a custom term paper sample on Innovative technology and organizational ecosystem case study specifically for you for only $16.05 $11/page Learn More The following factors should be considered when implementing an innovative technology that is developed internally. They are ease of use, level of interaction and needs of users. The innovative technology should be easily applied by high school students. The students should use the technology as a platform for interaction. In addition, students’ requirements for technology should be put into consideration. Needs assessment, training for students, and deployment issues should be considered when implementing an externally acquired technology. Students should be trained on how to use the new technology. If the number of limitations of the technolo gy exceed the amount of its benefits, then there would be no need of implementing it. The new technology should meet the needs of the students and be deployed with ease by high school administration. The implementation of an internal technology would start from the process engineering stage, while the implementation of an externally acquired technology would start with training for students on the applications of the technology. Both technologies would involve testing during implementation (Miluzzo et al., 2008). Evaluating an internally implemented innovative technology To evaluate an internal technology, the following factors should be considered, such as data security, students’ experiences and troubleshooting. Effective technologies have few cases of data insecurity. Students should demonstrate that they use the technology for the intended purposes. Such a technology would be user-friendly and interactive. An effective technology should be easy to troubleshoot when errors occur (White Bruton, 2007).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Acquiring an innovative technology externally The following factors should be considered when acquiring a technology externally: technology failures, financial resources, and software/hardware compatibility issues. The externally acquired technology should have low rates of failure. It should be purchased at an affordable price and does not need to have many hardware and software compatibility issues because they result in low technology functionality (Miluzzo et al., 2008). Organizational Ecosystem Case Study What is a business ecosystem? Do all businesses function within an ecosystem? Why or why not? A business ecosystem is defined as a number of firms that rely on each other. The interactions existing among businesses within a business ecosystem are result of business competition and cooperation. All the o rganizations operate within ecosystems because they interact with suppliers, distributors, and competitors. However, their successes are based on the benefits they obtain from the ecosystems. For a business to survive within competitive environments, it should develop and maintain business relationships with the other firms. It has been shown that a business in an ecosystem affects all the other businesses while the other companies also have a certain influence on it. Business ecosystems are constantly evolving as a result of political and socioeconomic impacts. Political events may lead to stabilization or destabilization of business ecosystems. Economic factors also play crucial roles in shaping the dynamics of business ecosystems. Business organizations need to formulate ways of being flexible and adaptable so that they could survive within dynamic business ecosystems. In most cases, leaders within a business organization fail to understand and analyze firm’s ecosystem. Th us, the leaders often develop strategies that do not help organization to establish beneficial relationships with other businesses (Pires Aisbett, 2003). What potential role does the ecosystem play in Wal-Mart’s innovation efforts? Wal-Mart operates within a dynamic and competitive business ecosystem. The ecosystem plays a crucial role in enabling the firm to achieve its benefits for being innovative (Pires Aisbett, 2003). Wal-Mart has implemented a procurement system, RetailLink system, which has helped it improve its performance. In addition, performances of the other businesses within the ecosystem have been positively impacted by the information system. Using the system, suppliers are able to monitor the sales of products at different stores operated by Wal-Mart. Suppliers could make timely supplies and improvements on products in case they are not being purchased fast.Advertising We will write a custom term paper sample on Innovative technology and organizational ecosystem case study specifically for you for only $16.05 $11/page Learn More Innovation within the ecosystem has helped Wal-Mart to successfully set up stores offering diverse products. This has also been accompanied by changing the layouts of stores to reflect location demographics. Such adjustments ensure that different stores sell products that satisfy the needs of different consumers within specific business locations. For example, TX Store has been adjusted to provide products and services to the rich consumers in the Plano area. Currently, it sells high-tech electronic and sporting products. Therefore, Wal-Mart has been able to describe its ecosystem and make adjustments that would help it to improve sales and financial performance (Davila, Epstein Shelton, 2012; Rowe, 2004). In terms of innovation and creativity, what are the advantages and disadvantages of functioning within an ecosystem? Firms obtain many benefits from being innovative and creativ e within an ecosystem. Being the first firm to implement an innovative product implies that all the initial benefits go to the firm. For example, Wal-Mart was the first firm to introduce a procurement system within its ecosystem. The procurement system helps its suppliers monitor the sales of their products sold at Wal-Mart stores and make prompt supplies. Being innovate within an ecosystem also enables a firm to understand the dynamics of an ecosystem and take advantage of the existing location demographics. For example, Wal-Mart identifies the affluent Plano area and sets up a specialized store that would sell expensive products to the rich consumers. On the other hand, being innovative and creative within an ecosystem has disadvantages. For example, a firm may introduce an information system that would enhance communication with its suppliers. If the system had many functionally issues, then the competitors of the firm might launch a superior information system. The firm would be disadvantaged because its innovative idea would be overtaken by its competitors. In addition, a company might lose business opportunities to its competitors even after it has identified a unique market segment to offer special products at special prices. This would be the case when a firm does not launch a superior product and maintain its quality. References Davila, T., Epstein, M., Shelton, R. (2012). Making innovation work: How to manage  it, measure it, and profit from it. Upper Saddle River, NJ: Pearson.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Miluzzo, E., Lane, N. D., Fodor, K., Peterson, R., Lu, H., Musolesi, M.,†¦ Campbell, A. T. (2008). Sensing meets mobile social networks: the design, implementation and evaluation of the CenceMe application. Proceedings of the 6th ACM conference on Embedded network sensor systems, 1(1), 337-350. Pires, G. D., Aisbett, J. (2003). The relationship between technology adoption and strategy in business-to-business markets: the case of e-commerce. Industrial  Marketing Management, 32(4), 291-300. Rowe, A. (2004). Creative intelligence. Discovering the innovative potential in ourselves  and others. Upper Saddle River, NJ: Pearson. White, M. Bruton, G. (2007). The management of technology and innovation: A  strategic approach. Mason, OH: Thomson. 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