iResponders

  Innovation.  Innovation describes an entirely new idea, product, or process. It could improve an existing tool or project ( Kojabayev & Maziliauskas, 2017). Inventions are compelling and exciting goods or ways of doing things. They are so crucial that consumers are willing to pay extra to enjoy the speed and ease they provide.  Private and public investors channel funds into Human Resources, research, and development activities targeted toward innovation. Decision-makers in various countries have created policies that promote research and innovation. They award scholarships and funds to students and schools to encourage innovation. Serendipitous Innovation. We can call them accidental discoveries because researchers stumble on them unconsciously (Miller, 1998).  In 1754 Horace Walpole coined serendipity and referred to it as a “happy accident.”  Alexander Fleming’s discovery of penicillin in 1928 is an excellent example of a promising innovation. Before hi...

  Dreams and Finances Dreams result from love or passion for a place, person, or profession. However, finances, talents, parents, and location often limit people’s ability to pursue their dreams (Conger et al., 2000).  Education Learn at least five languages viz; French, German, Spanish, Chinese, and Arabic. I would use applications like Duolingo to learn these languages, visit the countries and attend schools.  My interest in meals would drive me to learn how to make various African dishes, mainly from Ghana and South Africa. To promote healthy living and eating while having various products, I would learn and cultivate the habit of gardening. I will buy a farm and learn how to plant, water, and weed. Although most individuals cultivate the habit of speed reading themselves, I would learn the act of speed reading to increase my retention and reading ability. I have always loved business; however, I didn't take professional courses or study it full-time. With the resource...

  Hewlett Packard In 1939,  David Packard and Billy Hewlett founded the Hewlett-Packard company, which we call “hp.”  It is a multinational technology company specializing in hardware development (Black, 2009). This hardware includes personal computers and printers. The firm also develops software and provides various computing-related services to businesses and individuals worldwide. Before splitting into two companies, they had their headquarters in Palo Alto. HP The firm's merger with Compaq computer was the beginning of its problems, and we can blame this on a lack of good scenario and strategy planning from both companies. According to their forecast, the partnership would have been beneficial. However, the lack of planning made it difficult for the employees and management to adjust to each company’s culture or create a better one. In addition to poor scenario planning, family feuds contributed to the firm's problems. They eventually decided to split the company int...

  Scenario Planning Private and public business practices make assumptions about the future of the business environment and changes that might ensue. They envision scenarios and predict the results of those happenings.  Scenario Planning & Forecasting Scenario planning identifies and evaluates possible outcomes, risks, and opportunities (Chermack et al., 2001). It involves visualizing and documenting possible occurrences. Scenario planning is a  tool that organizations use to estimate their growth, earnings, and overall outcome. They use it to combat uncertainty in the business world.  Traditional Forecasting. Traditional forecasting involves using records and observations to predict future business KPIs (Weatherford & Kimes, 2003). People who use this method believe that historical records play a vital role in determining future events.  Comparisons Between Scenario Planning and Traditional Forecasting. They both use records to make predictions. However...

  Forecasting & Prediction in an Innovation Context. The world is facing increased growth and change. The changes make the future uncertain as no one knows what new changes can occur tomorrow; no one knows that future. However, forecasts and predictions can help us get a close result on the changes and uncertainties in the future. Both play a vital role in determining a business’s success in the future. Forecasting estimates the characteristics, success, and demand of a product or technology (Watts & Porter, 2017).  Predictions and forecasts identify possible strengths, weaknesses, opportunities, and threats. When firms use them correctly, they enjoy growth and development. Firms and researchers use the results from forecasts for appropriate decision-making and business planning.  For accurate forecasts and predictions, firms use a combination of scientific analysis of previous data and subjective considerations. Nikola Tesla’s Prediction of Phones and the Interne...

  Innovation. Innovation involves producing or discovering a new idea for the benefit of society. We can also refer to the invention as a process that covers creating new machines, products, services, or software (Kojabayev & Maziliauskas, 2017). A new device, equipment, or machinery is also an innovation. It covers processes researchers and technicians develop to solve problems and make life easier. Although some experts accidentally created specific ideas, processes, or machines, various individuals and organizations around the globe have enjoyed particular benefits due to innovation. Due to the tremendous benefits for society, more individuals, organizations, and government agencies are investing in research and development to promote innovation. Accidental Game-changing Innovations (Ideas) While some researchers and experts consciously created some ideas and machines, they accidentally did some. For some products, they conducted research, monitored processes, and ran tests ...