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INVENTION, INNOVATION AND DESIGN

INVENTION, INNOVATION AND DESIGN. Invention: A new way of making a product (e.g. walkman) or process (e.g. spray painting).

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INVENTION, INNOVATION AND DESIGN

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  1. INVENTION, INNOVATION AND DESIGN Invention: A new way of making a product (e.g. walkman) or process (e.g. spray painting). Inventions usually come from company research programmes and not the lone inventor (even though one of the most successful modern inventions, the cyclonic vacuum cleaner come from this later method). Innovation: Making an invention into a commercially viable and profitable product. This requires business skill as well as inventive talent. Nowadays this is vital if firms are to keep their portfolio up to date in the face of stiff competition and shortening life cycles. Design: This includes appearance, shape, function, quality, durability, etc. CAD has had a huge impact, why? Every designer considers 3 main factors. • Invention and innovation allows in: • Marketing: Premium pricing, differentiation, etc. • Finance: Efficiency, improved ratios, etc. • People: Specialists, research teams, etc. • Production: Productivity, reduced development times, etc. Aesthetics Function & quality Economy of manufacture

  2. RESEARCH & DEVELOPMENT • Research: Inquiry and discovery of new ideas. • Development: Involves changing ideas into commercial products • The pace of technological change, coupled with rising wants and spending power have forced firms to respond by investing in R & D. • Nowadays firms need to create new products not just to grow but to survive. • R & D is very expensive so is mainly carried out by large companies. • It can act as a barrier to entry or Economy of Scale. • R & D is also done by Universities and scientific research centres.

  3. CRITICAL PATH ANALYSIS (CPA) • This is a technique which allows a business to estimate the minimum time needed to complete a complex task by identifying which jobs can be performed simultaneously, when resources are needed and which tasks may cause delays in the operation. • It is a key feature of time based management and should help businesses improve their efficiency with regard to time and resources. • Can you think of any simple examples of CPA? • Nodes are circles which contain a wealth of information including the node number, the Earliest Start Time (EST) and the Latest Finishing Time (LFT). These will all be explained later. • Arrows show the order in which tasks take place, the activity is shown on the top (usually a letter) and the duration of the activity is on the bottom. • The total float is the spare time which is available. The formula for Total Float is : • LFT (this activity) – Duration – EST (this activity) = Total Float • We can now work through some simple examples • P 121 Hall Ed 1 • P371 e.g. 2 Marcouse’

  4. APPLICATION OF ICT WITHIN AND BETWEEN ORGANISATIONS Impact on Stock Control Stock is held on databases, additions and used/sold stock is automatically and immediately accounted for. Bar coding and scanning can automatically re-order when stock gets to a certain level. EDI is a permanent link between computers on different sites. It can be therefore used for automatic reordering. For example: Heinz link with Tesco. What are the benefits to Tesco and to Heinz of using EDI? Impact on Production (CAD/CAM) CAD: Designs can be produced altered and stored for very little cost. It allows customers needs to be satisfied. Firms can therefore produce to order, satisfying customers and the requirements of JIT production. CAM: Integrated software capable of supplying instructions to computer aided machines. A CAD/CAM production site should be quick efficient and flexible, allowing for flexible specialisation. MRP11: A software package which models an entire production process, stating labour, material and time requirements. It is very useful for contingency and JIT planning.

  5. MAKING THE LOCATION DECISION Fixed cost associated with location Site costs: Land can vary across the regions, however short term gains from cheaper sites must be balanced against the longer term cost of lower sales, poor infrastructure, etc. Availability and cost of ‘enterprise’ personnel. Regional incentives: Local, central and European government help. Potential revenue associated with a location. A site can add value e.g. made in Germany adds value to cars. Convenience for customers, this is why Corner shops survive despite cheaper competitors and higher rents in shopping centres can be justified by higher sales. The land must be ‘fit for purpose’. The image a location creates can be important. The local economic and business climate is important.

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