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What is Survival in Business Objectives?

Keywords: survival objective, business objective survival

Survival and growth will be the two main goals of any organisation in the current competitive world. Every company tries to vary and accelerative of their competitors to attain their goals and become market leaders. This starts the process of launching new products and services, value additions to current products and services, strenuous marketing activities and cost-saving steps to execute better and increase profitability. All these activities are a result of innovation in an organisation.

According to Mulgan and Albury (2003) "Successful development is the creation and implementation of new processes, products, services and methods of delivery which cause significant improvements in results efficiency, success or quality".

The process of innovation of looking for opportunities and strategies of innovation, selecting the best options, applying them and reaping the great things about the implementation enables the organisation to lessen costs, increase efficiency, increase sales and ultimately increase success. But the main reason for technology is client satisfaction. Unless the client is unhappy, the organisation cannot say the innovation applied has been successful.

Innovation can be applied in every single activity of an organisation. Just a tiny change in the developing process of an item can be an innovation; a tiny change in the service delivery process can be an innovation; any change in the management of the business is definitely an technology. These cumulative activities help the company to make a competitive advantage over the competitors.

Innovation can take place in virtually any organisation irrespective of the scale or status. A small grocery store on the place of the road or a departmental store large like Tesco with a service like home delivery can increase its business. Micheal Dell began a small pc assembling company in the entire year 1985 providing cheap and customised computers to consumers at a cost lower than top quality computer systems like IBM or Apple at that time. Basic Electric Company started out with making incandescent lights but today, with constant creativity is a innovator in healthcare, energy and technology. Air Deccan in India was the first flight in the united states to offer low priced airlines with no frills mounted on the services. It relied on reduced costs and overheads induced by services like catering, baggage allowance, cabin staff low turnaround time, fleet of small aircraft which would lead to higher insert factor. Such a new service offered them a competitive advantage over the standard full service airlines presently in the market and made flights affordable. Toyota Motor unit Company was the pioneer to innovate the Just with time and Six Sigma method of production which enabled them to lessen wastage and inventory thus finally reducing costs. Apple Personal computers Inc. has been around the personal computers business since decades together with their pros and cons but with the launch of Mac OS and Ipod and Iphone products, apple became an integral player in the individual markets within a brief period of their time. There can not be a better example than 3M if advancement is being discussed. 3M produces over 55000 products with numerous patents and trademarks authorized worldwide. The business is so dedicated towards advancement that 30% sales of the business originates from product innovations before three years.

These examples illustrate how important is innovation is for companies out of every sector to preserve the rough market conditions and stay competitive within an evolving market place while maintain smooth customer relationships.

Innovation and Open public Services

Public Services are those services which are given by administration organisations or authorised by administration organisations for welfare of common man. These services are available to all irrespective of wealth or public status.

The basic objective of commercial organizations is to increase the revenue and support in the competitive environment. Whereas, on the other hand, public sector organisations do not are present to maximise income but function mainly for general population welfare. These open public services are generally those which cannot be undertaken by private organisation due to their pure size like NHS or their character like defence. Generally open public service company are complicated in composition, very bureaucratic and securely controlled. For this reason, implementation of development is quite a challenging scenario. In public areas organisations, technology generally takes place in new services and organisations or updating currently put technology. The main reason for innovation in public areas sector is direct comparison with performance with the private sector. Survival for open public services is never an issue but costs reduction is the major conditions. The public service organisations should innovate in order to react to certain requirements of the normal man which can be changing as time passes, reduce costs anticipated to severe monetary situations and improve the service delivery process and achieve their purpose

The best examples of public services which have benefitted the federal government and the general public in the United Kingdom are NHS and the London Congestion fee. These two improvements have laid an example for open public organisations world over for general population welfare and federal government revenues.

The London Congestion Fee is a vintage example by the public sector organisation to solve problems of traffic and earn earnings. It implied that automobiles entering a particular area in London Area 1 in the day time was required to pay a fix demand either before or after going to the specified area. An identical concept of street tax or toll is already in place in a lot of areas however the request of such a concept in metropolis was used for the first time and was very successful indeed. The traffic in central London was reduced by 15%, congestion reduced by 30% and emissions reduced by 12%.

The Country wide Health Service, founded in 1948 is the world's greatest government funded health care institute providing every possible health treatment at free of cost or at a nominal price for certain services. It protects from antenatal screening process and routine treatments for coughs and colds to open heart surgery, car accident and emergency treatment and end-of-life good care. These services are available at any hour for each and every one regardless of their riches or social position.

Case Study - Ihavemoved. com

Ihavemoved. com can be an internet service produced by MBA students in London Business Institution as part of their project. The initial idea of a house reselling website was altered to an address changing service for home movers due to its unique and ground breaking nature. Without such player in the market, there is huge scope for the idea to be a success. Also the dotcom boom gave the internet idea a great impetus credited to which the project was flagged off effectively. However the service was not easy to develop. It took the founder's calendar months of hard work and research prior to the innovative idea got the form of a fresh and successful business. The effect was an extremely successful international address notification network. Now we discuss the main element drivers for invention for the business, tactical enablers within the organization, tactical blockages within the organization and recommendations to ensure improvements in the invention process.

Key individuals of innovation

Key drivers of innovation are those factors that lie beyond your orga3sation and drive the organisation to think about the necessity for development. These factors will be the basis which motivate an organisation to innovate and finally create something or service which would help achieve the goals of the organisation

First Movers Advantage

A first movers advantages is the benefit a company gains when you are the first player in a fresh and producing market segment so as to completely capitalise on the in the portion. When Ihavemoved. com was set up, there is no other company offering such a service to consumers. This enabled the company to ascertain a solid foothold in a market and make a brand image among consumers. Also being the first company, it might be easier for them to establish a ideal relationship using their partners. But to keep the advantage, the business needs to continuously innovate their services and add new services to retain their customers and partners

Dot Com boom

The era in which ihavemoved. com was founded, was a period when internet ideas were cool and had a great deal of potential considering the increasing level of popularity of the internet. This resulted in a whole lot of entrepreneurs taking on internet ideas relating to goods and services which were never dreamed before. Ihavemoved. com was one such idea which was very innovative and had a high possibility of success.

Service Differentiation

Ihavemoved. com provided a service which was much different from all the current ideas in place, somewhat their own idea of a property providing website. In such a case the customers could not even imagine a service which would permit them to improve their address in all utility bill and other companies without the trouble of approaching most of them and also not shedding from important email. For companies, it helped these to keep their customers thus was good for both functions.

Consumer Convenience

Every customer taking up the service of ihavemoved. com just were required to fill up one single form online and select the partners to improve the address with. In this way the idea of the consumers wanting less inconveniences while moving and changing addresses was one of the main element drivers of the progressive idea.

Revenue Model

The revenues out of the enterprise could be received from three main resources. The new customer commissions, the lovers and advertising space on the site. Every new customer gained the business revenue depending after the service availed. Also partners paid the business a fixed amount per notification provided the info was shipped in the format of the associates existing database. Lastly, the company got a specific target market with specified demographics which offered the business banner revenues above the average rates.

Partner needs

Every provider today is in the process to acquire clients as well as keep their old customers. When people move houses, they often feel it as unneeded to improve their addresses with service providers which are not very important such as departmental stores, account, charities etc. these organisations need to keep a tabs on their customers and loose the clients after they move their residence. Ihavemoved. com provided the information to the partners in the format compatible with their existing databases. This reduced the administration bills of the associates such as call centres, data entry and supervision.

Wide market

In the united kingdom, annually 10% of the 60 million inhabitants moved their homes every year of which almost 80% were aged between 15 and 44. Considering such a huge market space with no direct competition, the founders got the chance to be the first in the market and capitalise on the problem. Also the population of this group 15-44 is much more likely to try new things and services which allowed the founders to gain a much better market gain access to. Also in the later stage, the founders presented a manual form based service for people who did not get access to internet. This increased their target market to people who weren't accessing the internet as well.

Strategic Enablers of Innovation

Strategic enablers of invention are those ideas within an organisation that help advancement to occur. They become catalysts in the development process and enable the organisation to accomplish their goals. The following are the factors which facilitate the technology drive in a company.

Business Strategy

The business strategy of ihavemoved. com was perfectly designed with the founders knowing exactly how to start the theory. They spent a lot of amount of time in fine-tuning the theory, seeking appropriate legal services and developing a site which would be simple, customer friendly and cater the needs of lovers and the company.

Entrepreneur's skills

The founders of ihavemoved. com came from diverse backgrounds and experience in various organisational areas. Onic Palanjdian had preceding sales experience which allowed him to secure partners and alliances for the business, David Antsee experienced exposure to financial aspects which empowered him to look after the financial performance of the business and investor relationships, Francesco Benincasa had understanding of the internet business scheduled to his preceding consultancy business which made him in charge of marketing and white label integration with key companions and Nicholas Komninos possessed prior marketing experience which made him incharge of key marketing activities and human being tool management. Also Andrew Day who was simply appointed as a Chief Technical Officer redesigned the web site and saved the business a lot of money.

Management Synergy

The various skill pieces of the enterprisers were complimentary and very effective for the clean functioning of the company on the whole. Also the business owners formed an extremely close bonding amid one another which enabled those to avoid complications and offer a raise to the fast-growing business. This created a enthusiasm amongst them to execute and stand out to innovate for best customer services.

Value proposition

The service provided by ihavemoved. com gave the partners information in a format which could be directly integrated into their data source. The movers could easily change their address with all the current companies and partners these are registered to, cost-free and with no complications. This service provided the company high gross margins from notifications and commissions and a repository which would be beneficial in the long term. Thus this proposition was beneficial for all the parties involved thus producing a successful service.

Initial funding

Financial resources are very needed for any organisation to start out off and specifically for a new service which needs to be developed from scuff. A whole lot of test works and demonstration activities are performed before the real service is launched. The founders of ihavemoved. com spent their own prosperity in the business to start out it off and down the road acquired 30, 000 unprotected finance from HSBC standard bank under the united kingdom government Guarantee Plan. This helped the business to retain the web creating company Bluewave to further develop and increase their task and kick off it at a more substantial scale.

Identifying needs of customers

The founders of Ihavemoved. com first suggested to first start a website which would be list and selling properties. But later they developed a better idea of setting up something that would allow home movers to change their address with multiple partners without much hassle and present the companions data in the exact format that matches their data source. This shows that the founders were very apt in discovering the needs of these clients which enabled them to kick off such a successful service which was profitable as well as helped them to accumulate a whole lot of valuable databases which would be beneficial over time.

Collaborations with PowerGen

Ihavemoved. com made collaboration with PowerGen under which Powergen included the services of ihavemoved. com with their own website. This meant customers could change their address with PowerGen using the service of ihavemoved. com. This step provided a fresh outlook to the company wherein collaborations with various companions could provide set income based on their services and an increased rate of payment for notifications and other services.

Strategic Blockages for Innovation

The creativity process in an organisation can face many blockages or obstructions which hamper the innovation in an organisation. A more in-depth understanding of these blockages can permit the process of innovation to keep and get the most from it.

Limited resources

The founders of ihavemoved. com started out the company with the own money and resources in the original stages. That they had maxed out their bank cards and sold their homes to fund this job. Even the loan from the united kingdom government Guarantee Structure had not been very sufficient to meet their quick expansion plans. They needed more staff, new premises, a significant upgrade to the website and a marketing campaign to keep subscriptions taking place. For all of this they required money which was very hard to procure under market conditions. This hampered their development process and growth strategies. Also more focus on the managing the existing operations put technology on the extra preference.

Collaborations

Collaborations of ihavemoved. com with particular companies in a sector like PowerGen was a great development but that increased costs of the company because every partner associated by doing so would need dedicated designs and maintenance. Also this might have an impact on the other lovers in the same industry as they would not like to be associated with the company wherein the other spouse has a special collaboration with the company. This would impact revenues as well as partner amount within the industry. Also

Approach to Innovation

The founders of ihavemoved. com didn't did not take up a formalised method of innovation. The idea was actually accidently developed after the original idea was turned down. Even in the later periods, if the founders got little knowledge about the innovation methodology and followed the process, the outcome could have been better in all respects.

Lack of technical expertise

After procuring money because of their company, the next aim for was to redesign the web site with the aid of Bluewave. But even after putting in the extra resources and funds, Bluewave was fighting technical imperfections and design issues which was looking difficult to rectify prior to the deadline of the unveiling of the new website. Nothing of the directors possessed a technical expertise to identify or fix the problems. For this, they had to employ a Chief technological official, Andrew day who helped the company to meet their time constraints. If it was not for him, the kick off would have been postponed and ultimately affected the company's reputation.

Recommendations

Formalised Method of Innovation

Entrepreneurs with a fresh service idea generally are driven by a fresh drive to find the project off by making use of their knowledge in this sector. Rarely have they taken into account the necessity to take a formalised method of advancement in their task. This is credited to a self-assurance on their skill packages and first idea which places advancement on the extra list. This isn't always a downbeat for the idea on the whole but a formalised approach can help the enterprisers to analyse the idea in an improved way and therefore reduce the likelihood of error or failing in the job. The stages of idea verification, selection, execution and ends in the innovation process can be of great use within putting the project into an effective place to be able to get optimum responses for the theory and best results from the job. At ihavemoved. com, the founders did not take in the formalised innovation process but did a detailed examination of the idea and only then launched the job for his or her clients.

Human source Management

An ideal management team is always needed for any organisation to operate to its most effective level and grow at its ideal rate. Plus a perfect human source team, it is very essential that the employees and management of an company are encouraged and believe in the values of the organisation. Motivation also needs to be in the sense of invention in today's activities and process to increase efficiency. This is only possible when the right people are recruited which have an inner drive to excel in their position. Along with the best employees, the professionals also have to be at their finest in harvesting ability and inculcate creativity amongst their employees to get the best out of them.

Incorporation of Invention Culture

Innovation within an organisation can only be fostered when the organisational worth and culture are so integrated. The culture within an organisation is established by the most notable management considering the type of organisation and its own goals. The culture should always be in a way that employees have that instinct to innovate atlanta divorce attorneys aspect of the organisation, whether it is marketing, sales, clients, partners, etc. It's the duty of the most notable managers to see to it that the company culture is undoubtedly set that employees have a say in process they may be incharge and change them for good.

Effective Public relations and marketing

Public relations and marketing are very essential for a service which is new. For the best results, the marketing campaign should be such designed that the target audience is come to in the least possible resources and cost. Also the campaign should be focussed not only on mainstream methods like billboards or radio but also other mediums of advertising like online, mobile advertising on cars, events sponsorships, flyers, mascot, etc. These mediums can be affordable as well as far better than traditional mediums of advertising.

Client led Innovation

Innovations in the service industry always have to be customer centric and focused towards customer satisfaction. Since there is absolutely no tangible copy of any goods, the service delivery performs a very important role in determining if the service supplied was adequate or not. Comments from customers atlanta divorce attorneys step and its adaption operating delivery and define if the service is acceptable or not. It can help bridge the distance between expected service and service delivered. This difference can be finished by applying service innovation and consequently customer satisfaction.

White label Integrations

White label integration takes place where one company rebrands the service of another company to make it seem as their own. That is a very impressive method to gain better market exposure and customers because of the goodwill of both brands. PowerGen integrated the services of ihavemoved. com for their own customers. When this happens ihavemoved. com would lose its branding and the sole reference point would be 'driven by ihavemoved. com. The business needs to become more careful in future for white label integrations so the goodwill increases and its own name is not hidden behind the partner's goodwill. Also collaborations with other partners have to be in such a way that both parties

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