Create an Innovation (Benchmark Assignment)
Maree29
CLC.GroupB.ENT435.Phase3.pptx
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GENYTEX Inc. Organizational Team Ken Wiechert Robert Varela Lakisha Trammel Venessa Long Grand Canyon University: ENT-435 06/16/2019
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It is imperative to influence innovation in an organization to stay in existence with other competitors. Innovation is a team activity that involves the intersection of different fields, bringing together diverse ideas, abilities, and/or methods that result in a physical product, a process, or a service that impacts society in a timely manner (National Academy of Engineering, 2015). This new innovative product is marketed toward worldwide gamers and whoever is wanting to get in on the action. The implementation plan is to motivate investors to invest and to gain alliances with Sony and Microsoft. This presentation includes the description and values, introducing the team, the objective plan, goals, cost and benefits, and concludes a NOMMAR model.
Innovation
Introducing a new innovative gaming console called GenY Xploit.
Will give gamers a whole new level of competitive gaming experience.
Allows gamers to perform cross-platform gaming to compete with other gamers online no matter what gaming console they are using.
https://images.app.goo.gl/caWk9DNqLf2k8yCs9
The latest market for the gaming industry includes only two models. That means there are literally only two main competitors in the industry. Introducing the GenY Xploit gaming console into the world of gaming industries will create a whole new experience for consumers and the organization alike.
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Values to the consumer
Will boost larger capacity for resolution.
Higher Ram and processing power.
Equipped with USB & Bluetooth software compatible with other gaming accessories.
GenY Xploit Arbitrator Bluetooth racing style gaming chair..
https://images.app.goo.gl/sdiHfKj899TnMkma8
With the new GenY Xploit and promoting their Arbitrator high tech Bluetooth racing style gaming chair (Wiechert, 2019) geared toward multi-compatible accessories will enable every gamer to have a unique experience right at home.
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Values to the Organization
Potential growth for the gaming industry.
Increased revenues and Return Of Investments (ROI).
Generate strong alliances with competitors.
Has the potential to revolutionize the gaming industry worldwide.
https://images.app.goo.gl/AfQRsFE5ML7m8jTu7
The Gen Y Xploit will be ahead of the technology industry with this product. In addition, forming alliances with competitors will allow this product to dominate the market. This product can change gaming around the world. The chart above shows the potential growth for the future of the gaming industry within the US alone. The trend looks like it is going to continue to grow. The Gen Y Xploit is an investment that also shows a potential for major growth within the gaming industry for gamers as well and with revenues for the organization itself.
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GENYTEX Inc. Organizational Chart
It starts with our team. Unlike most traditional organizations who have a top-down hierarchy that will normally have a one-way communication with one person at the top with all the information and power (Morgan, 2015). We believe as well as implemented a flatter organizational structure that allows a larger more diverse ability to communicate and collaborate amongst one another in an organization; while removing those bureaucratic layers that sometimes can lie within the most organizations (Morgan, 2015). Leadership beyond lack of communication can make or break any innovative structure or organization. So, we feel that by having a flatter organizational chart it allows our team to incorporate a good support system that captivates the innovation spirit that will be critical to making the future of GENYTEX Inc’s and its new Gen Y Xploit gaming system a success throughout the world.
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GEN Y Xploit Gaming System
Ken Wiechert
Robert Varela
Vanessa Long
Lakisha Trammel
Implementation Objective Plan
Patient GENYTEX Inc. name, GenY Xploit gaming console and GenY Xploit Arbitrator Bluetooth racing style gaming chair.
Affiliate with Umbrella Corporation an investor group.
Break ground for GENYTEX Inc. Facility
Expand GENTEX Inc. team
Form an alliance with Sony and Microsoft.
https://images.app.goo.gl/zaytHAfny9vQaheLA
The implementation plan should include a greater business plan in which objectives will need to be clarified, a task with deadlines will be assigned, implementing charts that show progress towards organizational goals and milestones that show growth within the organizations (Richards, 2019). For GENYTEX Inc. we feel the time is right for us to implement our new gaming system into a market that is already occupied by only a few gaming industry giants like Sony, Nintendo and Microsoft. We also understand that for our highly complex gaming systems to be successful we must be on the mark, eliminate unnecessary timely mistakes in addition to unexpected developmental cost that can occur.
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Implementation Objective Plan (cont.)
Team up with Taiwanese Manufacturing a Contract Manufacturing (CM) firm.
Begin designing and manufacturing GenY Xploit gaming console and GenY Xploit Arbitrator gaming chair.
Sales and marketing team sets aggressive pricing for a projected 175K gaming consoles to be sold within the first year at a cost of $499.00 each.
https://images.app.goo.gl/S5SiZu1HrHUzN1Kz9
With the recent trends that are now showing steady increases throughout the gaming industry for the next decade. We believe that it is imperative for us to meet each one of these implementation objectives above and beyond so that we can introduce our gaming system to the world. We understand our time will be tight but if these gaming trends continue, we believe there will be nothing but success in our near future.
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Business Goals for Success
Motivate employee innovativeness
Allow interdepartmental collaboration to flourish
Provide and set clear goals for our employees
Continue to move GENYTEX Inc. forward with innovation advancements.
https://images.app.goo.gl/2JWbaF9QzGNdTwjJ8
GENYTEX Inc. is a gaming corporation that is looking to make a splash within the gaming community. We believe that our GenY Xploit gaming system it has the potential to revolutionize and take the gaming world by storm. With the above goals that we have laid out for our organization as well as our approach to aggressively target hardcore gamers of all ages throughout the globe. We promise the gaming system will provide the indulgence beyond the desires that video gamers crave throughout the world when it comes to the GenY Xploit. It is critical for companies to bring change and diversity in innovation that inspires employees a voice, creating an environment of interdepartmental collaboration, provide clear concise goals, and continue to move the organization forward (Richards-Gustafson, 2019). With that said our GENYTEX team believes that we will be able to accomplish each one of the above goals to ensure that we not only create a great gaming system but also create a fun environment for our employees who will also benefit from our success.
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Encompassing a Roadmap to Success
Develop our Goal
Develop a Vision
Develop a Mission
Develop a Strategy
Develop an Implementation Plan
Develop a Successful Gaming System
https://images.app.goo.gl/fSmuZQta5RHK6EHD7
Finally, it is hard for anyone to deny that a great implementation plan can be the key to an organization's success; it can also make or break an organization. There are five key factors or components that can ensure the success of a strategic implementation plan. It begins with five key to success with starts with people who are essential to implementing the plan, then there is the allocation of resources, next up having a solid structure with lines of authority as well as responsibility defined, next is systems tools as well as capabilities that facilitate the implementation of the plan and finally culture which creates an environment where employees are to be respected as well as thrive within an organization (Anastasia, 2017). With that said GENTEX Inc. is a company that has been built for success, we also, believe that we are on the cusp of something great that may revolutionize gaming systems throughout the globe for years. Our team has spent countless hours of time creating an implementation plan that we feel will not only meet each one of the keys to success we have stated above; but may also surpass each one of them.
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Cost / Benefit Analysis (Cont.)
Cost associated with purchasing and renovating a R&D facility
Human resources – Hiring R&D personnel
Contract Manufacturing (CM) Firm
Innovation – developing, designing and engineering
Marketing – research and advertising
Sales – aggressively promoting and selling the GenY Xploit gaming console and subscriptions.
A cost benefit analysis (also known as a benefit-cost analysis) is a process by which organizations can analyze decisions, systems or projects, or determine a value for intangibles. The model is built by identifying the benefits of action in addition to the associated costs and subtracting the costs from benefits. (Brook, C 2013)
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Cost Analysis Summary
Payroll Material Cost Marketing & Sales Remaining Investment Cost 16000000 10000000 3000000 36000000
Cost / Benefit Analysis (cont.)
Having Sony and Microsoft as an alliance we predicted our sales will increase 35% across the board, for the next four years.
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Cost /Benefits Analysis (cont.)
“The best cost-benefit analyses take a broad view of costs and benefits, including indirect and longer-term effects, reflecting the interests of all stakeholders who will be affected by the program.” (Brook, C 2013)
The prediction in sales and the overhead cost we show that GENYTEX Inc. profit margin for the first year will be 32% increase. After that, we will see our profit margin grow 47%, 59% and the fourth year 69%.
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NOMMAR Model
Customer Needs - Gamers from all over the world are ready for GenY Xploit Cross-Platform gaming system
Technology Options - GenY Xploit has far more advanced technology than the Microsoft Xbox One X and the Sony PS4 combined.
Potential Market – Gamers from all over the world
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NOMMAR Model
Business Model – Establishes an attractive Return on Investments (ROI) for our investors,
Realistic Approach that consists of Three R’s; Resources – Organizing alliances with Contact Manufactures, Microsoft and Sony; Risk – Convincing investors to fund a new gaming console that is not yet a giant in the gaming industry; Resistance – IP protection
Relevant – Yes, very fitting from the technology standpoint of a gaming console as well as the strategies and image that is support for the market.
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The presentation included the description and values of the GenY Xploit, introduced the GENYTEX Inc. team, implemented the objective plan with encompassing a roadmap to success and delivered a cost and benefit analysis that concludes a NOMMAR model. The GenY Xploit gaming console will offer gamers a new level of gaming expedition with a new jolt of cross-platform technology geared toward compatibility with other game and accessories. Implementing a strategic plane to team up with Taiwanese manufacturing a CM firm, affiliating with the Umbrella Corporation an investor group and becoming an alliance with Sony and Microsoft a competitor in the game industry will gear us toward a thriving business that will revolutionize the gaming world for decades.
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References
Anastasia. (2017). Essentials steps to a successful strategy implementation process. Retrieved from https://www.cleverism.com/strategy-implementation-process /
Brooks, C. (2013). Entrepreneurs Answer the Question: 'Why Is Innovation Important'. Retrieved from https://www.businessnewsdaily.com/5167-innovation.html
Morgan, J. (2015). The 5 types of organizational structures: Part 2, 'Flatter' organization. Retrieved from https://www.forbes.com/sites/jacobmorgan/2015/07/08/the-5-types-of-organizational-structures-part-2-flatter-organizations/#549f6e7a6dac
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References
National Academy of Engineering. 2015. "3 What Is Innovation?”. In Educate to Innovate: Factors That Influence Innovation: Based on Input from Innovators and Stakeholders. Washington, DC: The National Academies Press. doi: 10.17226/21698.
Richards, D. (2019). How to Create a Realistic Business Implementation Plan. Retrieved from https:// www.thebalancesmb.com/writing-a-business-plan-implementation-plan-1200844
References
Richards-Gustafson, F. (2019, April 10). The Importance of Business Implementation. Retrieved from https://smallbusiness.chron.com/importance-business-implementation-34571.html
Wiechert, K. (2019). KJW Marketing Firm. Unpublished manuscript, Department of Business, Grand Canyon University, Phoenix, AZ.
COMPANY NAMEDATE CONDUCTED6/2019
PROPOSED PRODUCT/INITIATIVE/SERVICECOMPLETED BYTeam B
PREDICTED SALESYEAR 1YEAR 2YEAR 3YEAR 4TOTAL
FORECAST FOR FOUR YEARS2020202120222023
Hardware (Unit Sales)175,000 236,250 318,938 430,566 1,160,754
Price Per GenY Xploit Console ($499)87,325,000.00$ 117,888,750.00$ 159,150,062.00$ 214,852,434.00$ 579,216,246.00$
Software (One Year Subscription/Gaming Store)7,875,000.00$ 10,631,250.00$ 14,352,210.00$ 19,375,470.00$ 52,233,930.00$
TOTAL SALES95,200,000.00$ 128,520,000.00$ 173,502,272.00$ 234,227,904.00$ 631,450,176.00$
Gaming Console Technology
GENYTEX Inc.
OVERHEAD COSTYEAR 1YEAR 2YEAR 3YEAR 4TOTAL
2020202120222023
Companies Payroll (5%)16,000,000.00$ 16,800,000.00$ 17,640,000.00$ 18,522,000.00$ 68,962,000.00$
Material Cost (3%)10,000,000.00$ 10,300,000.00$ 10,609,000.00$ 10,927,270.00$ 41,836,270.00$
Marking and Sales (3%)3,000,000.00$ 3,090,000.00$ 3,182,700.00$ 3,278,181.00$ 12,550,881.00$
Other Investment Cost (4%):36,000,000.00$ 37,440,000.00$ 38,937,600.00$ 40,495,104.00$ 152,872,704.00$
Utilities -$
Machinery, etc. -$
TOTAL OVERHEAD COSTS65,000,000.00$ 67,630,000.00$ 70,369,300.00$ 73,222,555.00$ 276,221,855.00$
TOTAL NET PROFIT30,200,000.00$ 60,890,000.00$ 103,132,972.00$ 161,005,349.00$ 355,228,321.00$
