Management Assignment: Reflective Journal on Ideation in Enterprise

Question

Management Assignment Purpose: The reflective journal challenges students to critically and deeply think about how their learnings in this course are developing their knowledge, skills and abilities to Ideate.

Description: The reflective journal is an account of the learning experience in the Ideation in Enterprise course. It is a means for students to engage analytically with the module content. A critical component of this journal is students reflecting on how they navigated their own biases and how this impacted the outcome.

Rubric: Critical reflection (20%), Use of research and evidence (Evidence of relevant and wide reading, breadth and depth of the integration of relevant literature into the reflections) (10%), Organisation and structure (Clear structure, logical flow, level of written expression, appropriate citations [including self] and reference list) (10%).

Answer

1. Introduction
The management assignment sheds light on the concept of Ideation in Enterprise that helps in conveying and developing prescriptive ideas in a business setting that helps in reaching organisational goals. In this case, the concept of innovative ideas in this changing world that requires developing a better business approach is the key aspect of this reflective journal. Two crucial aspects of this entire reflective journal include reflecting on assessment experience and reflecting on the learning process. For example, the learning process that has astonished me in this module is business model innovation in implementing innovative ideas. On the other hand, the experience of my learning revolves around changing the business model of Mobile Fitness Training Classes.

Hence, in this reflective journal, I am going to present a detailed report on my learning process and assessment experience. However, while reflecting on the selected area I am going to use derived questions from Gibbs Reflective Cycle to express my thinking, feeling, and experience about a specific situation. This reflective model will also help me to interpret a situation to develop a better understanding and action plan on the basis of present experience.

2. Reflecting on the learning process
2.1 Description: Selected theory for this reflection is Business Model Innovation (BMI) that creates a supportive and value creation environment along with getting competitive advantages. Most important reason for selecting this theory to reflect on is the importance of this model to help companies in taking advantage of changing expectations and demands of consumers (Faghih et al. 2018). I have come to know about aspects of the organisation's value proposition when it comes to the underlying operating model and customers. On the other hand, revenue model, service or product offering, and choice of target segment are critical aspects of driving profitability. I felt an amazed situation while learning about a keen relationship between business transformation and business model innovation. It is worth noting that I came to know about the capabilities of business models in shaping up organisational structure and creating better revenue from business transformation. It is the key factor within companies to attract a large number of consumers even after learning about essential to success factors and competitive edge in the market field.

Therefore, it is not possible for marketers and entrepreneurs to manage an entire business effectively and gain competitive advantages without understanding essential approaches for a company to develop business model innovation. Following are factors regarding innovative models that I have noticed while learning about innovative ideas in enterprise in different conditions.

The reinventor approach
Reinvention is deploying an approach of mitigating industry challenges such as new regulation and commoditisation (García et al. 2016). In such a situation, reinvention of the business model helps in creating better customer-value propositions to avoid uncertain and deteriorating growth. This approach comes with new superior offering and profitably delivered approaches.

The adapter approach
Approach of an adapter plays a vital role in saving a business organisation while facing fundamental disruption even after reinventing the customer value proposition. In such a condition, new core space is required to be built up to explore adjacent markets and businesses.

The maverick approach
Business model innovation is the key aspect of this approach that helps core business to become more successful. Mavericks can be both insurgent established and a start-up business; however, the primary intention of this approach is to gain competitive advantages through revolutionising ideas in industry by setting new and innovative standards (Heikkilä et al. 2018). It is crucial to mention that I have found this approach of innovation as the most effective approach in reaching organisational goals and objectives.

The adventurer approaches
Expanding the business footprint in an aggressive manner is the crucial part of this business model that helps in improving overall condition regarding getting advantages and success in new markets.

After going through all approaches while learning about innovative ideas and ideation in enterprise I have identified the importance of sustainable approaches regarding gaining competitive advantages through BMI. Hence, I have identified and explored various dimensions and layers of innovation management and implementation of BMI in the form of different frameworks, theories, and models. Most importantly, business model and innovations in marketing that comes with classified innovation in improving overall condition and performance of a company (Smajlovi? et al. 2019). Moreover, BMI is all about the capacity of organisations in rethinking and reshaping the core business values and process of revenue streams to gain competitive advantages. This approach helps in providing value to companies in new ways.

2.2 Analysis: Envisioning possible innovations in future helps in improving overall condition regarding business approaches and core values regarding customer proposition. In this concern, I came to know about processes regarding utilising BMI systematically that can help business organisations to manage overall business conditions through enterprise ideation. Moreover, followings are crucial factors in this learning process that have intrigued my interests:

Analysing current business model
I felt interested to know about the relationship between offerings and target market of an organisation that helps in generating revenue and creating value proposition, and this approach helps in analysing present business models (Spieth and Schneider, 2016). In this specific place, business model canvas helps in identifying present aspects of an organisation that helps in identifying places for improvement.

Confronting current business model
Enterprise ideation plays a vital role in managing overall business assumptions and managing things effectively along with the challenging present environment of business. Confronting present business models helps in identifying places that are creating blocks for businesses to work more effectively. Moreover, generating new ideas and innovative approaches help in utilising ideation tools.

Consistency of business model
Developing a new and innovative business model with a sustainable approach helps in working for long-term goals and vision statements of the company (Antunes et al. 2017). Due to this reason, consistency in creating value is an essential part that considers improving overall condition regarding managing business and approaches of meeting needs and expectations of consumers.

Pilot BMI and test
Iterations play a crucial role in getting competitive advantages and helping to go beyond pitfalls. Thus, implementing a pilot BMI and testing it with consumers assists in analysing findings to work on places that need improvement.

I have gone through different aspects of BMI and sustainable approaches that help organisations to utilise advanced technology. However, it is worth noting that, organisations always do not need to spend large amount of money in employing tech savvy personnel and workers to implement costly technology. For example, after occurrence of COVID-19, organisations have sought new paths and found ways to reach existing and new customer base on basis of online services. I prefer usage of technology in accelerating innovation processes after identifying the importance of utilising immersive technologies in improving overall condition regarding the organisational process of business operations.

Realising new possibilities in the market is another critical aspect of developing a better condition regarding marketing conditions. Ideation in enterprise gets a proper shape with the hands of technology when it comes to implementing innovations and building a better consumer base. For example, companies such as Apple and Amazon have become successful in generating billions of dollars in revenues only because of implementing technology in the right places (Balabuti, 2017). However, testing new concepts and experiments are critical aspects of managing business. Creating models on the basis of services and products help in marketing effectively.

Organisations must focus on product innovation even after analysing product development and business model. Marketing innovation is a process of promoting products and services through unique tactics and channels. However, I have also faced challenges while learning concepts such as product innovation and implementation of technology in product innovation along with relationship between these two aspects. Primary reason for such a fact is that I learnt about innovation processes and technology along with product development from different aspects and separately (Gebauer et al. 2017). However, in this case, I am finding all these factors together and this factor has challenged my previous learning regarding the importance of business models. Along with that, with changing time, everything has changed regarding affirmation of the working process.

I have also developed understanding regarding different techniques and tools of implementing innovation within an organisational setting. Previously, I went through the importance of leaders and management teams in motivating employees and implementing innovation within the business and workplace environment. However, in this case, I have come to know about innovation practices and implementation of these techniques in professional life. I have also gone through a process of affirmation when it comes to managing overall business through an innovation model. The concept of innovation was not unknown to me; however, I did not have a detailed knowledge on the minute processes of implementing innovation.

2.3 Outcomes: I explored different dimensions and layers of innovation that were unknown to me. However, every part of this course has helped me in developing better understanding regarding the process of managing business through better approaches regarding innovative processes. Moreover, I have got to know about the detailed process of managing business and delivering better conditions of work. On the other hand, I was curious about learning and developing knowledge on specific case studies and examples of organisations that help in improving overall conditions regarding improving business performance. Furthermore, I am interested to know more about innovative models in business along with the process of sustaining the effects of business management and innovation to gain long-term success.

I have also decided to work effectively on developing better understanding regarding innovation along with implementing this learning in future to develop a better career in business management. Relationship between Innovation management and BMI is another place of interests of mine that has influenced me to create a better approach towards implementing innovation in future (Hernandez et al. 2016). I am interested in becoming an entrepreneur or working with small business organisations to exploit innovative approaches in mitigating challenges regarding high competition and quality of products and services.

3. Reflection on assessment experience
3.1 Description: After learning about innovation, I went through assessment regarding ideation in enterprise that have helped me to develop deep insight regarding innovation challenges within organisations. For example, after the occurrence of COVID-19 scarcely the pandemic has spared any organisation or industry from its wrath. Every part of life and business organisation faced a challenging environment and fought hard to come back with a splash of fresh air. In this case, I came to know about challenges faced by the fitness and gym industry that tried hard to cope with the present environment. Individuals and groups of people faced issues in managing businesses and reaching consumers in any way (Tchuta and Xie, 2017). However, innovation has magically worked along with BMI that has helped in implementing new processes of innovation and business.

The assessments I have gone through required me to identify challenges in the fitness training industry along with developing a mind map regarding this industry challenge. Along with that, I have gone through innovative ideas that had potential to mitigate challenges in the fitness training centre through AI-based systems. Along with that, I have gone through different approaches of innovation and approaches of organisations to resolve issues regarding managing working processes within this training centre that can help people to overcome health-related issues after COVID-19. This pandemic has affected the entire world with different issues and factors. However, I have learnt about factors that can help in resolving issues regarding implementing modern technologies and tools in the Assessment 1. The Idea of enterprise has provided an opportunity for me to create a better understanding of the processes that can help in working most effectively even in this time of global health issues. Along with that, the primary concern of developing a better and innovative approach is to create a better dimension regarding improving the overall condition of managing the working process through implementation of both inward and outward changes.

Moreover, while the first assessment has provided a chance to develop an idea regarding innovation, the second assessment (assessment 2) has helped in developing a critical and analytical view regarding working on innovative approaches and processes of better quality of work. It is not possible for any organisation to improve overall conditions regarding improving business processes without helping the management and leadership team to place the entire organisation in one platform (Wangand Xu, 2018). For example, utilising technology to create mobile applications that will help people to get training from fitness trainers directly from home. People do not need to go outside of home or to the gym to stay fit.

Direct help from workers in this place will help in improving overall conditions regarding health and fitness. Challenging business climate can be mitigated and managed through better approaches to technology and innovation. Along with that, I have learned about the process of reaching a conclusion by identifying needs, collections, findings regarding innovations and business environment.

3.2 Analysis: Situation of brick-and-mortar gyms and fitness centres is not good when it comes to managing entire business processes effectively. Along with that, the fitness regime of people started to intrigue the impatient behaviour of fitness lovers. I have identified a challenging environment for organisations to pay rents and to manage service providing costs effectively. Primary reason for this issue is restrictions regarding socialisation and gathering in a specific place. Along with that, uncertainties in the process of managing the entire business are another critical aspect in this case that has affected salaries of employees and electric bills. In this specific place, I started to relate my previous learning on business innovation and model of innovation that have helped in creating a better understanding regarding processes to meet expectations of s consumers (Smajlovi? et al. 2019). For example, a better approach of this company to developing mobile applications has helped this organization to reach a large audience with a limited rent. In this way, the present company has become successful in communicating with consumers and providing a better service to people through online processes.

I have gone through a mixed feeling on creating practical knowledge after developing a theoretical overview regarding any project. For example, I have gone through Innovation management theory and Business Innovation Model from a sustainable approach while completing these assessments. For example, this model has helped me to understand the importance of the process of completing tasks regarding managing the organisational process of creating customer proposition Value (Zizlavsky, 2016). This innovation management theory has helped me to understand the importance of using new and advanced technology and to develop a mobile app. This application has helped in completing tasks of providing services regarding training through online classes. In this way, the present company has also become successful in utilising talent and skill of experienced and expert trainers on the freelance basis. I had only views on innovation through marketing. However, I did not have any idea regarding the practical process of managing innovation. Hence, my views were challenged through the basic process of completing tasks regarding marketing and product innovation along with technological innovation in a sustainable way.

3.4 Outcomes: I have learnt in these assessments regarding critical processes of managing an entire business along with developing considerations regarding better processes to meet consumers. In this case, innovative technology and processes to turn business models by staying consistent towards values and vision have helped in working effectively (García et al. 2016). Along with that, I have worked effectively in understanding different dimensions of work in which I was involved. For example, it was not possible for me to analyse the process of implementing innovation without knowing the gravity of the challenges. Hence, I developed a keen knowledge on the importance of research and development before working on any area along with developing a better understanding regarding the process of managing a business.

I have learnt the process of implementing theories into practice to become successful in reaching organisational goals and objectives (Faghih et al. 2018). For example, in this case, values of the company remained the same while providing services to customers through online services viea fitness programmes and personalised diet charts. It is also essential for this business organisation to work on motivating consumers to stay tuned with this mobile app by providing engaging contents. This experience has helped me to develop my skill of entrepreneurship regarding converting ideas into reality. Utilisation of existing technology is an essential part of BMI that helps in transforming the entire business model into better approaches that play an essential role in managing innovation. Innovative approaches of companies create efforts that help in utilising marketing innovation or product innovation. In this case, service innovations have been identified by finding new value propositions.

Ability of technology, business model, and products are parts of creating different value propositions and segments when it comes to the purpose of inventory management. Generating desired results is only concerned with gaining competitive advantages when it comes to getting return on investment (ROI). ROI is an essential part in analysing and evaluating efficiency of organisations in going beyond the competitors (Heikkilä et al. 2018). In this case, use of experience and skill regarding entrepreneurship come with categories such as offering and configuration. I have also developed understanding on importance of overcoming dilemma of innovators.

4. Conclusion
In conclusion, I have gone through an effective learning process that has challenged my views and thoughts along with attempting to explore and unfold factors that were unknown to me. Knowing different aspects of a complex phenomenon always helps in developing a better approach regarding managing business. However, in this reflective journal, I have documented my feelings and experience while working on the assessment and creating learning’s regarding effective processes to implicate innovation. Innovation management was the key concern of this reflective journal that has helped in gaining a detailed knowledge on ideation of entrepreneurship. Along with that, I have come to know about the importance of theories and management models that create beautiful aspects of reaching long-term goals. Technological, product, and marketing innovation are the most critical parts of my learning and developing assessments in this course. In the future, I want to work on differentiation between sustaining and disruptive innovation while helping an organisation to grow faster.

Reference list
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Balabuti, M. G. (2017). The leadership's creativity or the management's innovation? Manager, (25). pp. 17-23. https://www.proquest.com/scholarly-journals/leaderships-creativity-managements-innovation/docview/2213788618/se-2?accountid=30552

Faghih, N., Dastourian, B., Sajadi, S. M., Henten, A., andForoudi, P. (2018). A framework for business model with strategic innovation in ICT firms: The importance of information. The Bottom Line, 31(1). pp. 16-41. http://dx.doi.org/10.1108/BL-01-2018-0002

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