Innovation, Collaboration, and Global Delivery Strategies - Free Paper Sample

Example of Analogy Innovation

An example of an analogy innovation is the use of logistics process, in this case, the analogy innovation would be for example, how the ship’s freight container would be filled logistically because much less time would be needed in the loading and unloading of the ship than if it was done in a stationary warehouse.

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Differences Between Licensing and R & D Collaboration

Understandably, in the modern technological and innovative advancements, the exchange of technology has increased tremendously. Firms and individuals who are unable to build their technology can acquire such technologies from parent firms. In the case of R & D, which is known as research and development collaboration, it involves working with others or jointly together in intellectual and research and development programs to achieve the goals (Sargiacomo, 2018). However, in technology licensing, it only takes place where one of the parties involved owns valuable assets also known as intellectual property. Because of such ownership rights, he has the legal capacity to prevent the other party from accessing or using it. Therefore, a license acts as consent or agreement by the owner to the use of the rights in exchange for the money or anything of value.

Technology Acquisition Channels

Technology can be acquired using different channels. For example, in the case of R & D, it can be acquired through a minority investment in other technological firms. The investment will mean that a given business shares the ownership with the technology firm. In the case of licensing, it can be acquired through the acquisition of intellectual property rights (Sargiacomo, 2018).

Benefits of Producing Overseas

Over the years, overseas production has increased tremendously. However, this is attributed to some of the advantages that it offers to manufacturers. There is a lower production cost as compared to producing locally. This is because the raw materials that would otherwise be imported if production were to take place locally are now available at low prices (Gkypali, Filiou and Tsekouras, 2017). Other costs are also reduced. Another benefit is that there is the possibility of mass production because production cost is reduced hence allowing goods to be produced in large volumes. Further, there is an increased scale and flexibility in production.

Example of a Company Using Adapter Approach

An example of a company that uses an adapter approach is IBM Company (Gkypali, Filiou, and Tsekouras, 2017). With the increased marketplace volatility coupled with rising differences in customer needs; various business models are quickly outdated (Gkypali, Filiou, and Tsekouras, 2017). As a result, there is an increased need for business model innovation. This approach is applied when the core business, even when reinvented, cannot combat fundamental disruption. It helps to explore adjacent markets or businesses. The adapters must always build an innovation system that helps to continuously drive experimentation so that it can find a successful new core using the right business model

The Method I Would Use to Deliver Products Between Omnichannel and Multichannel

It is important to note that omnichannel marketing involves delivering a consistent and personalized experience for shoppers across all devices and channels (Silva, Duarte, and Sundetova, 2020). However, multichannel delivery focuses on many different channels that involve direct mail, mobile, social media, and even physical location. Therefore, to be able to deliver the jewelry to my warehouse, I would consider using a multichannel type of marketing as I will be able to market the products in different channels. As a result, this will enable me to capture a large number of customers (Silva, Duarte, and Sundetova, 2020).

References

Gkypali, A., Filiou, D. and Tsekouras, K., 2017. R&D collaborations: Is diversity enhancing innovation performance? Technological Forecasting and Social Change, 118, pp.143-152. https://e-space.mmu.ac.uk/618027/3/TFSC_Gkypali_et_al_Full%20Manuscriptsymplectics%281%29.pdf

Sargiacomo, M., 2018. Accounting, the ‘Art of Interessment’and the ‘Good Spokesperson’: innovation in action in luxury high fashion (1959–1979). Accounting History Review, 28(1-2), pp.85-127. https://www.tandfonline.com/doi/abs/10.1080/21552851.2018.1501399

Silva, S.C., Duarte, P. and Sundetova, A., 2020. Multichannel versus omnichannel: a price-segmented comparison from the fashion industry. International Journal of Retail & Distribution Management. https://www.researchgate.net/profile/Paulo-Duarte/publication/339985215_Multichannel_versus_omnichannel_a_price-segmented_comparison_from_the_fashion_industry/links/5e72602f92851c93e0ad33ef/Multichannel-versus-omnichannel-a-price-segmented-comparison-from-the-fashion-industry.pdf