CUSTOMERS, MARKETS AND TECHNOLOGY MODS 1-8
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COURSE: CIS605: CUSTOMERS, MARKETS, AND TECHNOLOGY
MODULE: 4
SPAWN: 10-27-20 TO 12-21-20 (117W8)
DUE DATE: 11/23/20
INSTRUCTOR:
STUDENT:
RUBRIC GRADE: (You may have to zoom in to read the fine prints)
SUMMARY FEEDBACK: FAILED GRADE
Thank you for the submission. The above rubric represents the numerical grade you have received.
Please number the problems to match the assignment. This appears to be a general run-on paper. Specific solutions to each assignment problems are not very clear. The paper is all textual and on the terse side.
There are some great ideas. However, it would be even stronger to go beyond basic descriptions and provide more insights into the methodology of evaluations and control metrics in terms of the technology that can be applied.
Utilizing visualizations (i.e. charts, graphs, tables, diagrams, images, etc.) could be instrumental in delving deeper in analysis. The contents are reasonable. But some sections are very short.
ADDITIONAL:
MODULE 4: INNOVATION: EVALUATION AND CONTROL (CHAPTER 5)
The problems for this week are:
1. Use your favorite Internet search engine and find an example of a successful evaluation and control process in an R&D firm. What attributes are described as contributing to the success of the evaluation and control process? What factors impact the choices the organization makes in designing its evaluation process? What factors help it to be successful? What do you think about the long-term viability of the process the firm uses?
2. Find a site that discusses the Balanced Scorecard approach to evaluation and control. This method is considered a relatively new technology or approach to evaluating organizational performance. In addition, some control processes are embedded in it. What do you think of the measurements suggested, the process itself, and the potential outcomes? What are the strengths and weaknesses of the Balanced Scorecard method?
3. Find an article or website that provides guidelines for the evaluation and control of an innovative strategy. What do you think of the advice given?
4. If you are part of an organization that has an innovative strategy, what are the key inputs from the environment that you need to implement the strategy? What steps will you take to be sure the inputs exceed minimum acceptable levels? What will you do to ensure your output to the environment is acceptable? How are these two periods of evaluation and control the same and how are they different?
Strategy for success:
For problem #1 above, it is crucial that you can pinpoint a good R&D firm from which to work from. It is important to identify the attributes, factors, and viability of the control and evaluation process. Please concentrate on the control and evaluation process. Please do not digress into a general discussion of the company in other aspects.
For problem #2 and #3 above, please find the proper references as required. Since #2 deals with Balanced Scorecard and #3 deals with guidelines, it would be very helpful if you can instill these ideas into problem #1.
For problem #4 above, you will take it a step further and offer some role play. You will project recommendations into the success of a firm given proper control and evaluation.
Please be as technically involved as possible. Be specific about the actual systems suggested, algorithms intended, management paradigms used, and so on. Please make sure that there are analyses of performance (i.e. metrics, ROI, KPI, etc.), which may including financial outcome. The submission should not be textual, general descriptions. CIS knowledge and implementation should be comprehensive and methodical. Visuals are always helpful.
SUBMISSION FORMAT REMINDER: (Please ignore if your naming convention already conforms)
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FIRSTINITIAL.LASTNAME-COURSENUMBER-MODULENUMBER
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Better example: J.Smith-CIS675-1.docx
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Your effort is greatly appreciated.
Best regards,
Dr. Shiaw
CUSTOMERS, MARKETS AND TECHNOLOGY
Week 4
HYS8
November 17, 2020
Evaluation and Control in R&D firms
Amazon is considered to be among the heaviest spenders on R&D activities. The evaluation process that Amazon uses to manage its R&D activities is concentric diversification of its technological activities. The firm continually evaluates its technological capabilities to succeed in business activities by ensuring that its cost leadership techniques derive customers' highest value. The firm also utilizes control measures to manage its financial spending activities to regulate its spending to ensure that even though spending on R&D is enormous, it can sustain these costs (Managementstudyguide.com., 2021). The successful management of finances used in the firm's evaluation and control process has contributed to its successful R&D activities. The firm's technological capabilities impact the choices the firm makes in designing its evaluation process. Its cost leadership techniques help the firm to be successful. I think the cost leadership techniques will sustain the long-term viability of the firm's R&D process.
The Balanced Scorecard Approach
I think the measurements suggested in the balanced scorecard approach are vital for measuring four significant business aspects, which are finance, business processes, growth, and learning. I think the process is easy for any firm or organization to integrate into its business functions. The potential outcomes can enable a business to establish a competitive advantage in the market. The balanced scorecard approach's strengths are its ability to structure performance measures of business functions, facilitating better alignments to company goals, mission, and vision, and making communications easier. On the other hand, the balanced scorecard approach needs to be tailored to organization functions. This is considered a major weakness of the approach because it is a time-consuming process. Secondly, understanding the balanced scorecards' functions and operations could be complicated because there are countless case studies and resources that provide different applications of this approach (Mehralian et al., 2017).
Strategic evaluation and Control of an Innovation Strategy
The purpose of the strategic evaluation and control of innovation strategies is to keep organizations on the right track concerning the innovation systems it adopts. In the absence of practical strategic evaluation and control measures, organizations are likely to fail in achieving the desired effects of innovation strategies. According to the article, the most vital strategic evaluation and control measures for adopting innovative strategies are appraising present strategies both internally and externally, taking corrective actions, and measuring adopted innovations' performance. Strategic evaluation and control measures in evaluating the process of adopting innovations enable businesses and organizations to evaluate their capacity to meet desired objectives and assess whether the business leaders and managers are doing what needs to be done (Biemans, 2018). I think this advice is essential for organizations seeking to be successful in implementing innovative strategies consistently.
Key Environmental Inputs
Suppose I am part of an organization that has an innovative strategy. In that case, the critical inputs from the environment that I need to implement the strategy are the supply of technological knowledge and economic conditions, competitors, regulators, legal, labor market, suppliers, and customers (Popp, 2019). I would use the balanced scorecard approach to ensure that sure the inputs exceed minimum acceptable levels. To ensure that my output to the environment is acceptable, I will ensure I research on the acceptable environmental output levels for various sectors. These two periods of evaluation and control are the same in that they are both essential for determining the effectiveness of adopting innovation strategies. They are different in that while inputs contribute to the organization's innovative strategies' fundamental nature, the output levels determine the effects of innovative strategies on the external environment.
References
Analysis of Amazon's Corporate Strategy. Managementstudyguide.com. (2021). https://www.managementstudyguide.com/analysis-of-amazon-corporate-strategy.htm.
Biemans, W. (2018). Managing innovation within networks (Vol. 7). Routledge.
Mehralian, G., Nazari, J. A., Nooriparto, G., & Rasekh, H. R. (2017). TQM and organizational performance using the balanced scorecard approach. International Journal of Productivity and Performance Management.
Popp, D. (2019). Environmental policy and innovation: a decade of research (No. w25631). National Bureau of Economic Research.
