BUSI48955: Innovation, Creativity and Entrepreneurial Ingenuity Report Assignment Help
Question
BUSI48955: In this Business School Assignment for Nottingham Trent University, UK, the students are required to develop a report assessing the performance and capacity of a specific innovative organization. The report will need to highlight the importance of creativity in the workplace and the ways in which design and new product development management can harness creativity’s value.
Solution
To provide Bachelor in Business Administration Assignment Help in this assignment, our experts have written a well-researched report assessing the performance and capacity of Cisco, as an innovative organization. The report highlights what makes the company innovative and how it flourishes through creativity. In addition to this, our experts have also discussed an opportunity for the company to pursue entrepreneurship as a means of addressing an issue that impacts the industry in which it works, while also proposing recommendations for resolving these issues.
As per the task file, this essay has been divided into the following sections-
Introduction
First, the significance of innovation, creativity, and entrepreneurship skills have been highlighted to orient the reader to the report. This is followed by highlighting the purpose of writing this report.
Innovation is one of the prominent drivers of value creation in businesses and is often underpinned by technological change which enables an organization to create uncertainty in the market while also developing new ways to offer superior value to consumers (Visnjic, Wiengarten and Neely 2016). Due to significance, organisations often engage in sustaining and enhancing innovation. However, on the other side, there are several complexities and uncertainties associated with innovation which makes this process much more challenging (Duarte et al. 2017). Considering the relevance, the aim of this individual report is to critically analyse Cisco in terms of innovativeness and its performance or capability as an innovator.
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Organizational Overview
The next section discusses Cisco’s organizational structure before delving into the company’s creative culture and the ways in which design and new product development generate value for the organization. As you can observe below, our experts extensively research data from credible literature sources to provide the best Business Assignment Help Online to our students.
Cisco is a US-based multinational information and technology (IT) company, specializing in digital communications technology (Cisco 2022). The company was founded in 1984 by two Stanford colleagues Leonard Bosack and Sandra Lerner (Alonso 2022). Cisco is committed towards inspiring change and creating new possibilities for tomorrow. Cisco is a customer centric organization and therefore the focus of the organization is towards six strategic pillars namely optimised application experiences, Internet for the future, secure and agile networks, capabilities at the edge, end-to-end security, and hybrid work (Cisco 2022).
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Innovation and Creativity at Cisco
In the following section, our experts have used the innovation pentathlon framework for analyzing innovation and creativity at Cisco. You can read 50% of this complete analysis below:
3.1 Pentathlon Framework
The process of innovation at Cisco can be better understood by the Pentathlon framework. According to Goffin and Mitchell (2005) climate, culture and the management of change and innovation can play a pivotal role in influencing an organization and its employees’ ability to innovate. Providing a holistic approach to this, Goffin and Michell (2005) proposed a pentathlon framework consisting of five stages namely idea generation, prioritisation/selection, implementation, innovation strategy, and people, culture and organisation. Idea generation is associated with the analysis of the internal and external environment of an organization in order to identify potential opportunities and threats (Hladik, Jandos and Vorisek n.a). This analysis assist organisations in identifying opportunities which can be exploited further or threats which can be avoided in order to continue value creation. Innovation strategy is associated with the development of a strategy from the idea (Costello 2015).
3.2 Radical and Incremental Innovation
Cisco has sustained its growth from the last 35 years and innovation has played a pivotal role in this (Mullins 2017). Over this period, Cisco has engaged in both incremental and radical innovation. Incremental innovation, also known as sustainable innovation, refers to gradual or continuous improvement in the services, products, and processes of an organization (Zhang 2022). This innovation mainly focuses on eliminating flaws in the existing processes and enhancing the performance by making improvements such as product line extension, cost reduction and development of new generation products. However, this innovation is short-lived since it keeps on improving in a short period of time and therefore the value created through incremental innovation is also short-lived (Zhang 2022). Some of the incremental innovations at Cisco include security service edge (SSE) solution, and 8.8Tbps / 36 x 800G line card for Cisco 8000 Series Routers (Cisco 2023; Cisco 2023). These are incremental innovation since these are the improved versions of existing Cisco’s products and are created as per changed consumers’ demands.
3.3 Interactionist Model of Creativity
Organizational creativity is considered crucial for organizational innovation. A study conducted by Bratnicka-Myśliwiec (2015) identified that creativity is generally defined as an outcome in organizations such as a product, work method, business model, and management process which are both novel and useful. However, creating it requires resource and one such crucial resource is human resource. When human resource within an organization feels motivated, interested and satisfied, their internal desire to do something unique and different emerges which further encourage them to engage in creativity (Akanbi and Aun 2015). However, the behaviour of creativity in an organization varies. From the application of the Pentathlon framework applied above, it is clear that Cisco adopts the interactionist model of creativity. This model of creativity states that organizational creativity is associated with the creation of new ideas, services or products that are a result of collaboration in a complex social system (Woodman, Sawyer and Griffin 1993).
3.4 Organisational Ingenuity
One critical factor that has played a pivotal role in sustaining organizational innovation at Cisco is organizational ingenuity. The Oxford dictionary defines ingenuity as being clever or inventive or original (Lampel, Honig and Drori 2014). However, in context of organisations, ingenuity is associated with the ability to create innovative solutions within a specific structural constraint with the use of imaginative problem-solving skill and limited resources. Apart from creativity, ingenuity also requires social, political and communicative abilities. Therefore, the concept of organisational ingenuity is associated with being fluent negotiator within organizational boundaries and capable of identifying and working within limitations and constituents (Kannan-Narasimhan 2014; Lampel, Honig and Drori 2014). Two key concepts related to organisational ingenuity are bootstrapping and bricolage. Bootstrapping method is generally adopted by small businesses and entrepreneurs in order to minimise equity financing or outside debt. Small businesses or entrepreneurs using bootstrapping uses unused equipment or uses them at downtimes such as evening or night in order to save cost and uses former colleagues or college students or even customers to gain knowledge and feedback rather than paying high consulting fee to external entities.
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Problem Affecting Industry
The report has then highlighted an issue impacting the information and technology sector of Cisco. Additionally, some recommendations to resolve this issue supported by evidence have also been provided in the sub-sections below.
4.1 Problem
Data theft or breach is one of the leading problems faced by the IT industry globally. As per IBM (2022) Data Breach Report, approximately 83% of organizations experienced data breaches more than once in 2023. In the US alone, the average cost of data breach was $9.44 million and the global average cost of data breach is $4.35 million. More than half of data breaches occurs in the cloud technology, one of the core services offered by Cisco (2022).
4.2 Entrepreneurial Opportunity
A report presented by the WEF (2023) predicted that the number of cyberattacks will be doubled or tripled by 2030 and therefore more focus would be provided towards resilient cybersecure systems with capacity for recovery as well as acceptance of ongoing cyber risks. From this, it is clear that since the number of such threats is likely to increase further in the future, the demand for cybersecurity measures and solutions are also likely to increase further in the future.
4.3 Optimal Solution
The optimal solution for the proposed problem is use of artificial intelligence (AI) and machine learning (ML) technologies for. A report presented by the WEF (2023) predicted that advancements in AI and ML will play a pivotal role in improving and strengthening cyber security in the future.
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Conclusion
Lastly, a brief conclusion section has been provided to summarise the findings from the analysis done above, a part of which we have provided here.
Cisco is not considered as an innovative company due to its ability to introduce multiple innovative products and services since its inception, rather it is considered an innovative organization due to its constant commitment towards establishing and managing an innovative culture where employees as well as stakeholders are encouraged to engage in creativity and innovation. Cisco has remained committed towards innovation and therefore has taken multiple measures to sustain this including inter and intraorganizational collaboration, reward and appreciation policies, and employees’ knowledge and capabilities management through learning and training programs.
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