Unit IV Assignment OT&B

Running head: Unit III Assignment 1

Unit III Assignment 2

Unit III Assignment

Justin Erby

228342

BBA 3451-17M-6A21-S1

Organizational Theory and Behavior

Introduction

In exchange for money, businesses offer the products and services that they have created for their targeted customers. Thus, it through the products and services that are offered by businesses that they can make profits and collect the revenues that their business operations generate for their business. Thus, the creation of new products and services guarantees a brighter future for a business organization. In a nonprofessional’s language, creation of new products and services by business owners can be said to be the lifeblood of that business organization (Info entrepreneurs, 2009). Thus, investing in the creation of new products and services is a crucial element for every business that is operating.

Ailcyons is a profit organization that has various products and services. The company has majored in the creation of portable gadgets that can be used to play music at any place. These gadgets have been created in such a way that they offer the best sound quality that can make an individual feel the grove of the music that he or she listening to and still listen to the lyrics that are being sung by the musician. The company also offers music licensing services to musicians and also helps content creators to sell their creativity through the online platform. Thus, the company gets a cut for all the royalties that are accumulated by musicians and content creators. So that the company can maintain its sustainability in the business world and have a guaranteed future in business, we have decided to create an audio gadget that does not external memory to play music.

New Product SMART Goal Analysis

Goals such as the new product that is being proposed for the business need to be specific so that they can be accomplished with success (Corporate Finance Institute, 2020). To be specific, the people within the organization that are involved in this product’s creation are the organization’s technicians, the project management team, the management, and the company’s stakeholders. After the product has been designed and made ready for the market, the majority of the task will be left to the marketing and sales departments of the company. The company’s technicians need to identify the necessary resources that are needed to make the product a success. This product will be available for the market and can be bought by consumers of any age.

There are various ways that the organization will be able to measure its success on this product’s design and lifespan. The progress will be measured by analyzing what will have been designed by the team and the first samples that will be tested. After doing this the company’s shareholders will determine the investment that they will make for the product in terms of cost. The price of the product can then be determined after calculating the profits that will be accumulated on a certain number of sales. The creation of this product is achievable. It is achievable because the product is not complicated to create given that many smartphone developers are creating devices with inbuilt memories. Thus, we need our experts to synchronize this technology into the creation of smart audio devices.

Goals that are designed “must be realistic in that the goal can be realistically achieved given the available resources and time (Corporate Finance Institute, 2020).” This business goal is achievable given that the business creates and sells portable audio devices. Thus, we only need to integrate the inbuilt memory technology into what we are doing. The time that will be taken by the company to realize and achieve this goal depends on the time that will be taken by the technical team to determine the resources and technology that the needs. After this has been done, we can then come up with a plan of how we can initiate the product. We need to allocate the technical team 1 month of researching how we can do this. We will then take 2 months to develop and test the new product. After we are certain about its effectiveness, we will make it available to the consumer.

References

Corporate Finance Institute. (2020). SMART goal - Definition, guide, and importance of goal setting.  https://corporatefinanceinstitute.com/resources/knowledge/other/smart-goal/#:~:text=A%20SMART%20goal%20is%20used,chances%20of%20achieving%20your%20goal

Info entrepreneurs. (2009). Develop new products and services. Info entrepreneurs | Info entrepreneurs.  https://www.infoentrepreneurs.org/en/guides/develop-new-products-and-services/