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Generation of an Innovative Idea for business operations

Semester: E16

Module Code: EIDE4019

Module Title: Effective Idea Generation

Programme: BESBD / BMCI

Level: Level 4

Awarding Body: Plymouth University  


Assignment Task

Formative:
By means of an individual reflective   journal which will be maintained by the student throughout the module and will be the basis for tutorial feedback and discussion and also can be used to support completion of summative assessments.

Summative:
Coursework (80%): Reflective essay. Write about the process of generating a specific idea which you would like to turn into a business / product / innovation. Include reference to relevant academic models / theories from the entrepreneurship / creativity literature. Provide insight into the process / steps you followed. Comment on why you think your idea is worthwhile / feasible / valid and who your key   stakeholders are.


Answer

Introduction

Logistic management mainly supplies chain system of functions respectively. People can find different types of business management in this aspect. Those business managements include transportation management, warehousing management, inventory management and so on. Basically, this management helps professionals to process the goods of those included managements and also supplies these goods and products to those managements positively. Therefore, logistics management has a huge responsibility of providing goods and products to every included management efficiently. In order to describe logistics transportation management, it is to mention that logistics management provides each and every possible requirement of transports effectively.


1. Explain the role of idea generation in business innovation

Logistics management is such an innovative management which provides a chain system of functions in business perspectives. This management provides both inbound and outbound transportation management, fleet management, warehousing management and much more throughout the world (Somech and Drach-Zahavy, 2013, p.684). People need to discuss logistics transportation and the importance of newly generated ideas for this management respectively. In order to develop and improve this management positively, professionals need to generate new ideas regarding transportation. This is because logistic transportation management tries hard to develop transportation management in the recent times. They try to develop this management more innovatively from an early age. This is because lifestyles are improving nowadays and the requirements of these people also increasing rapidly. Therefore, in order to provide the requirements of customers, it is to be said in a word that new ideas are generating rapidly so that these requirements of customers get fulfilled positively. Some ideas are discussed thoroughly:


Involving everyone: The first step in the process of application idea generation technique in transportation logistics is the involvement of everyone in this management (Quist et al. 2013, p.8). In order to innovate this business management, professionals should involve the other persons so that they can provide new ideas and talented strategies so that management of logistics transportation can reach its top as well as can gain valuable marketplace positively. Many people can provide many ideas. There is nobody in this world, who has every possible knowledge regarding business management or something else. In this regard, if in a single management there are a number of people, they can provide individual ideas and plans regarding the improvement of that management and for that customers also get their basic needs and requirements regarding transportation respectively.


Involving customers: Customers are especially another part of business management including logistics transportation management respectively (Zott and Amit, 2013, p.410). In this aspect, regarding new ideas, it is a chief responsibility of the professionals that they must have to involve their customers significantly because customers can also provide their requirements more satisfactorily. Transportation management is for fulfilling the needs of customers as well as improving the business management to reach its top in the marketplace of this logistic transportation. In this aspect, customers are the only one who can specify their requirements more positively and effectively. Therefore, regarding new idea generation, the involvement of customers is needed effectively.


Seeking ideas: Seeking ideas is another responsible part of newly generated ideas regarding logistic transportation management (Hoch, 2013, p.160). Professionals, customers, even new customers all have much responsibility in order to provide their individual ideas regarding newly generated ideas in order to build up this management significantly and fruitfully. It is highly notified that from an individual person, millions of innovative ideas can be overflowed regarding a single topic or matter respectively. Therefore, professionals of this linguistic transportation seek ideas from individual persons including professionals of other management as well as from the customers positively (Norman and Verganti, 2014, p.80). This is because ideas can provide different positive strategies regarding logistic transportation management and implement those strategies and ideas in action; one can improve their business perspective positively and fundamentally.

Therefore, from the above-mentioned discussion, it is clear to all that newly generated ideas for improving logistic transportation is innovatively fruitful and effective.


2. Discussion of the importance of new ideas in gaining competitive advantage 

Nowadays organisations all over the world face the pressures for competitiveness and they try to gain competitive advantage with maintaining profitability and developing the corporate strategy of the company (Song and Parola, 2015, p.190). In general logistics management is the main function of the management of supply chain management. Outbound and inbound transportation management are included in the logistics management, warehousing, inventory management, planning and decision making in an organisation. Logistics management is in general is supply chain management. In today’s competitive environment competitive advantage for a company can be gained through logistics management (Saka, 2016, p.15)

Basic conditions for gaining the competitive advantage should be production and distribution of products and services among various customers in the market targeted by the company. According to Porter’s five forces model rivalry among the organisations and new entrants in the market can also gain competitive advantage for the existing company and also for a new entrants. In this case study importance of new ideas in gaining competitive advantages by logistics management can be explained as follows-


Connection between company and customers: The main aspect of gaining competitive advantages in an organisation is making an interrelationship between the company workers and targeted customers (Wajszczuk et al. 2016, p.50). It is the responsibility of the sales manager for supplying information regarding the customer’s demand and preferences and according to these information the production department can manufacture products and services.


Marketing changes and economic development: Marketing changes means changes in demand and preferences of consumers, technological changes, political and environmental changes. Every organisation has to keep a sight on the marketing changes and according to these changes organisational management team should implement new operational strategies and make decisions. In this way the company can meet customer demands which will lead to competitive advantage for the organisation.


Effective coverage of requirements in marketing: For the logistics management to gain effective competitiveness in the market product differentiation, segmenting and targeting are the main aspects which should be included in evaluating the effective coverage of requirements in marketing. In order to target maximum number of customers in market evaluation of marketing segments are important (Lu, 2015, p.115). Transportation management can give powerful result in logistics management to cover maximum part of a market and can increase the number of customers to purchase their products. Effective transportation can raise customer service, profitability of the company and mainly it can reduce the cost of transportation and can lead the organisation to gain competitive advantage.


Identification of customer service components and brand loyalty: Brand loyalty is an important term used in logistics management which refers to the customer purchasing same product of a specific brand. Loyal customers buy goods and services from preferred brands and this will lead the company to gain competitive advantages (Timm et al. 2016, p.210)


Advancements in technologies and quantitative techniques: Advancements in technologies and quantitative techniques in an organisation can lead to gain competitive advantage. If the changes are made regarding the changes in the market and customer needs and preferences profitability of the company can also increase with reduction in cost. In this way through supply chain management a company can gain competitive advantage.

Therefore from the above discussion one can get the reflection of the new ideas in logistics management, to gain competitive advantage and higher level of profitability. 


3. Application of idea generation techniques to business scenarios 

Definition: Idea generation is the exercise of creative brainstorming procedures to generate innovative solutions to practical challenges. In general such exercises are performed within a multinational corporation to evolve specific and effective resolutions to existing impediments in terms of business activities (Fleisher and Bensoussan, 2015, p.125). 


Explanation: Idea generation is a multi phased process in which people of varied credentials and capacities get involved. Such processes include the group performance of problem solving and idea generation functioning includes a group of participants providing diverse range of solutions and ideas to overcome any particular or a host of impediments (Hair, 2015, p.131). Idea generation is a multi phased process in which people of varied credentials and capacities get involved. Such processes include the group performance of problem solving and  idea generation functioning includes a group of participants providing diverse range of solutions and ideas to overcome any particular or a host of impediments (Zikmund, 2013, p.140). The culmination of the process of idea generation or brainstorming sessions necessitate the selection of a group of probable solutions of the problem under discussion, continuing further discussions and deliberations to screen the suggested solutions, then create a roadmap to formulate the best possible strategy to implement the selected idea into the practical field of application and then putting into motion the final process of applying the idea to the predesignated purpose (Ferraro and Brody, 2015, p.136).


Methods: The methods of generating ideas are wide and varied in nature. Some practices are co-creation of ideas using the cerebral capacities of more than one individual in the pursuit of any singular idea and hackathons which is another important idea generation method which is often utilised in business circles which is basically the programming of different computer software simultaneously by a large group of individual experts (Cairns et al. 2013, p.05).  


Application of the idea generation techniques to business scenarios

Ideas generated in such brainstorming sessions that are applied in specific scenarios concerning the activities of multinational businesscorporations come in two formatssuch as the tangible and intangible (Bocken et al, 2013, p.490). Tangible ideas are capable of being felt through the senses but the intangible ideas are mostly applied in case of long term perspective planning which are mostly symbolic in nature. For most of the successful companies, utilising the methods of ideation to generate problem specific strategic responses become the initial point of meeting prevalent challenges (Rohrbeck et al. 2013, p.16). 


Conclusion

Logistics management helps people by providing and supplying finance, transportation, warehousing and much more. In a word, logistics management is a supplying business of chain system of different business management. Therefore, a logistician has a huge responsibility regarding the improvement of his or her business management. In order to grow up its market value, logisticians must have to gather different innovative ideas from professionals and customers of the management. This is the only way out of improving business strategies including this logistics transportation management respectively.

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