Growth, Innovation, Scaling, and the Pace of Life in Cities
Growth and innovation are related as presumed by Bettencourt et al. (2007), who argue that the predominant status of cities cannot be related to biological perpetuation. This argument introduces a clear fact that the growth of living things is limited to area and nutrients. It implies that organisms cannot perpetuate and increase in population without limitations. However, the growth of the population in cities can improve continuously since innovation is a strategy that regulates this enormous advancement. In this perspective, innovation is marked by the developments observed through urban infrastructures and economic status. Primarily, this is practical for most cities since they are the centers of economic improvement.
In my opinion, the idea presented by these authors is outstanding and therefore innovation should be counted as one of the factors facilitating this growth. Knowledge must be a component of development, which should be implemented through proper channels of seeking innovators or innovative ideas from within a nation and outside the nation. The argument has been supported by the empirical analysis of the prevailing urban systems in various countries. In this light, the pervasive assumption that urban growth is as limited as biological organisms is not upraised. Instead, urban growth is not limited to an area like living things. The growth may continue for a long time and in a consistent manner.
Leadership, Innovation Climate, and Attitudes Toward Evidence-Based Practice During a Statewide Implementation
Pillar of Innovation
Innovation should create things that matter to the people (Aarons & Sommerfeld, 2012). Usually, innovating something arises from filling an observed gap within the surroundings leading to the establishment of a solution.
Strategy
To create something substantial, an innovator has a point to start. In essence, this is the point where he rests the foundation.
Getting ideas out of any situation
An innovator should be inspired by the surrounding people like the business partners, advisors, advertisers, and team members.
Work as a Team by Sharing
As an innovator, a person should share the preceding in the process of innovation with his team members. Sharing encourages suggestions and the exchange of skills that may result in newer creations. Hence, it is recommended to work in small manageable teams.
Business Model Innovation Leadership
When conducting a feasibility analysis, it is essentially critical to consider the market (Lindgren, 2012). In this regard, various aspects are included in the market feasibility analysis. First, the businessperson must determine whether there is a market for the products. The evaluation must be based on whether the market availability can be proven or not. If it can be proven, the owner of the business should identify the size of the market as a pertinent issue when determining the scope of operation. Further, the analysis should identify the target market because the business must not serve the entire scope due to high cost and initial capital. The target market comprises the portion that the business can consider for the provision of services and goods. This is based on the market share that the company can influence and control once it starts providing the products. Importantly, the market feasibility analysis should make future projections and determine possible fluctuations that may affect the business’s financial solvency. Also, such aspects as the expected annual growth of the market and the factors that affect its development must be discussed in detail. Essentially, market feasibility is the most challenging part of the entire undertaking. Extensive research should be conducted to determine the highlighted issues.
DU telecommunications and Etihad Airlines are some of the most innovative companies. They have been in business for less than one decade, but they have made a huge impact as far as innovation is concerned. Besides, it has been established that feasibility analysis should include a detailed description of the product, market, price, and futuristic plans among other things.
Knowledge Management and Knowledge Creation in Academia
Application of Theories to Real-Life Issues
In essence, IBM noted that customers in the modern world have changed how they purchase and connect. This implies that there is a fatal problem regarding marketing since the old strategies have been rendered ineffective (Tian, Nakamori, & Wierzbicki, 2009). Consequently, the disruptive theory of innovation becomes important in this case. IBM implemented this theory based on the premise that the development of Social Business Software was meant to satisfy the technological needs of customers and replace the old ones. However, this theory has not been implemented entirely without considering the theory of sustaining innovation. In this case, the software was not meant to replace all other ways of marketing and communicating. In this regard, there were also strategies developed by IBM to sustain the existing frameworks.
It is noted that the adoption rate of Social Business Software is very high, and it is expected to rise to 38 percent by the end of 2014. Consequently, the company is aware of the effectiveness of their idea rather than implementing it blindly. It also helps in evaluating whether their marketing strategies are effective or not. Besides, this theory seeks to evaluate the spread of the idea in different cultures bearing in mind that various backgrounds have diverse exposures. For example, even if social networking has become very popular, some cultures have remained conservative regarding adopting the technology. After considering this situation, the application of the theory enables the company to make fundamental determinations on cultural variation regarding using the business software.
References
Aarons, G. A., & Sommerfeld, D. H. (2012). Leadership, Innovation Climate, and Attitudes Toward Evidence-Based Practice During a Statewide Implementation. Journal of the American Academy of Child & Adolescent Psychiatry, 51(4), 423-431.
Bettencourt, L. M., Lobo, J., Helbing, D., Kuhnert, C., & West, G. B. (2007). Growth, Innovation, Scaling, And The Pace Of Life In Cities. Proceedings of the National Academy of Sciences, 104(17), 7301-7306.
Lindgren, P. (2012). Business Model Innovation Leadership: How Do SME’s Strategically Lead Business Model Innovation?. International Journal of Business and Management, 7(14), 140-246.
Tian, J., Nakamori, Y., & Wierzbicki, A. P. (2009). Knowledge management and knowledge creation in academia: a study based on surveys in a Japanese research university. Journal of Knowledge Management, 13(2), 76-92.