3608QCA Innovation and Entrepreneurship

Creation of ecosystem and innovation.

For any organisation the concept innovation is integral in all possible manner. Innovation can be stated as the foundation of success for any organisation and for organisations that are at a level where the can consider themselves to be successful and have a variant range of products and services under the rain the possibility of a creation of an ecosystem is even more important (Masaviru,2016). An ecosystem enables the company to have a better control at all it's possible variant products and services without getting any kind of problems in the management of the process. Presenting a certain manner or certain level of strategy that can execute both of these concepts together for any organisation has to work with the problems that an organisation is facing.

 Some of the best organisations in the market also has problems that needs to be looked upon and issues associated with its own ecosystem that has to be worked upon. Some problems are restricted to a single product from the ecosystem however some problems are based on an organisational problem that the whole company is facing. For Nike that essential problem has to be two of its main threats and weakness that one can recognise. The company at present is facing a major issue of legal impacts related problems that has to be dissolved in an urgent manner (Flynn,2015). Apart from that the level of popularity that night he has gained over the years have made it a very important commodity for the society which has led to various different kinds of counterfeit products that are in the market under the name of night. The following essay will create an understand a proper way to implement an open ecosystem strategy that will tackle with these two problems income of the two solutions that has to be recommended to the organisation’s framework.

Process of finding and open innovation process for an ecosystem begins with the identification of a certain problem or market drivers that need to be looked upon furthermore it is integral to understand who are the real target market who will get affected from these issues. The target market that will get affected from the changes that will be made in the legal as well as taxation issues of the company will be the complete stakeholder list of the company which includes the employees, shareholders, customers, suppliers and retailers among others (Parker,2015). However, in terms of fighting the counterfeit issue of the company there are various people who can be stated as the target audience will directly get affected from this issue who will be the companies and the people who are working on creating counterfeit products of Nike. With the change in the attitude and the change in this complete circuit of counterfeit production many customers will also be affected by who are buying cheaper products in the name and idea of actually buying a Nike (Childs & Jin,2018). For the app on understanding who are the target audience of this open innovation process of the ecosystem it is integral to understand and realise the ideas and the open innovation platform that will be used in making sure that this problem is dealt with.

After realising you are the company's major target audiences who will get affected with these new innovation strategies it is integral to address those issues in the very first place. Legal and taxation issues a something that the company is facing for the longer period of time. As a company that works with third party companies’ retailers and suppliers more than presenting its own product to the customers directly the company has to have a whole legal and taxation issue at hand because of the company's whole spread out being International in nature (Brohi et al.,2016). It is extremely difficult to keep up for any organisation the complete idea that all countries where the company is a part of having different legal and taxation issues from one another. Legal issues are generally laws and regulations to do for a business to work within a country. The legal issues can arise often for a company as big as Nike. The best way to tackle the following problem has to have a legal team that is dedicated completely to certain Nation but the company is operational. As night has a global setup and is opened a corporate office in almost all major countries and even some major countries of the world the company should have a dedicated legal team in all these Nations and also focus on having a more elaborate legal team in Nations where its production process takes place. It happens because of the whole idea that in nation where the production process takes place the legal team has to also look into the laws and other factors of a company's factory and production system that have to follow rules and regulations by the governing bodies (Mahdi et al.,2015). The company can also focus on having a year-round check up within the legal teams of all the Region complains that the company has faced and ensure that these issues can be resolved in an easier manner. When it comes to the taxation process every company has a different process of dealing with taxation yet the amount of taxation and its general rules and regulations stay the same for all as the whole taxation processor organisation only differ depending upon the country, they are walking in. Taxes and not only dependent upon the nation where Nike has its headquarters but in All the Nations where it has opened a corporate office and factory as well as if selling its products because of which they have to pay excelling tax to the nation and the government. To understand and implement this process properly and to ensure that the company pays its taxes properly and under proper regulation it is integral to also have a team of proper Chartered Accountants to look into these issues in every Nation the company is operational in (Byun & Bae, 2015). This will ensure that the chartered accountants will look into the taxation process of the country which differ from one another and has to focus on having a different kind of approach in paying the taxes as well like many Nation have a tax charged for selling the products where as many Nation who endorse companies of the foreign nature to come and be part of their companys economy these companies have lower tax percentage for the companies so we whole process of having people to look into the taxation process depending upon the nation is integral.

The Other major issue that can only be stopped or regulated with proper innovation has to be the issue of fake counterfeit that the company comes across on a regular basis (Pisano,2015).Brands as big as Nike and Reebok as well as Adidas fan following in terms of shoes sales in the market accompanied by luxury brands like Balenciaga are all facing this issue which causes them to have losses among billions every year due to the increasing popularity of selling counterfeit items. To understand the reason behind the same it isn't able to understand that Nike along with all its other competitors can be stated as a luxury items because it is not extremely affordable in nature. This Pushes customers you can't afford the general Nike shoes which is extremely expensive for many people and on the other hand the counterfeit shoes come at almost 10% of the original shoes price (Nylén & Holmström,2015). Early on these counterfeit products used to be easily recognisable among the original one but with time and the development of Technology as well as the development of the whole basic manufacturing technique and its understanding people who are in the counterfeit business and now able to create more believable products that even make people who buy the original product confuse them with the original one. This has led to billions of dollars of losses for companies like Nike.

The best way to come out with innovative way through which the company can tackle with such creators who make fake products and the name of the brand is to focus on creating brand stamps properly on the product. Instead of just putting the logo of the product on one or two places the company should focus on putting it on rear sides of the shoes like under the sole or even inside the shoes or below the tip side which will make it a more expensive Affair to counterfeit the Nike shoes (Varadarajan,2018). The company should also come up with unique code that has to be given to each pair of shoes which may be a difficult job at the beginning of the change but it will help the company are sure that fake products cannot get mix up with the original one. Other than that, the company can also come up with code scanners that can be found under the soul of the shoes on the side of the shoes that will look like a statement piece and will create a sense of originality for the Nike shoes and by scanning those code people can see the real model name as well as special credential given to the shoes which will make it even unique. For $1000 shoe This small change can cost a lot in the very beginning for the company but this complete statement created to tackle fake markets will not only help the company get back the millions and billions of dollars it is losing in the counterfeit market but it will also help the market of the company have a new exclusive approach for its products.

Understanding the need of digital and collaboration Era it can be stated that Nike as a brand has already made known collaborations and is extremely prominent digitally however the whole process of ignoring legal as well as tax issues will ensure that the company remains with a good reputation that will help them have a better digital presence as well as have a controversy free behaviour and image that will also help them create more prominent collaborations in the future (Dobni, Klassen & Nelson,2015). On the other hand, the fact that counterfeit products take away the redness of a single product and with the help of creating a method that can help the company fight Back fake Nike products it will help in increasing The authenticity of the product and its general value in the market I will help the company not only ensure proper level of collaboration with better companies in the future as well based on their own terms. The more prominent effect of it can be seen digitally as the company's increase brand value can be portrayed better using influential marketing online but will increase the value of Nike shoes that vintage as well as exclusive there's too even more than the company speculates.

It can further be stated that as an organisation Nike is the Global leader of sports apparel and is one of the biggest and the only seller that is the most known and collaborative in nature in terms of sports shoes and sneakers and only few issues are standing on its way to become a problem free Empire an ecosystem that is completely digital and collaborative in nature (Ezzi & Jarboui,2016). By understanding how to tackle with problems like taxes and different kinds of lawsuits and fighting one of its biggest economic crises which is counterfeit products the company will ensure that the company can have better reputation and at the same time better profits. In today's time companies like Nike are always under the radar of the general public and the industry specialist but with the increasing use of digital marketing it has become even more prominently transparent and fighting away these kinds of issues not only ensure the better quality of the work done by the company but will also ensure the company's brand image as whole (Gao,Hsu & Li,2018). The complexity of understanding taxes and legal issues is integral for the brand while also ensuring that the benefit of all these changes with completely impact the ecosystem of Nike in a positive and profitable manner.

The idea of working in a group gives a visual sense of understanding that the particular job not only be interesting to work on but will also help them gain a certain level of knowledge and experience. For me working on this following group project was such an experience due to various factors (Chen et al.,2018). That the topic itself was something I am keenly interested in as well as the fact that I got the opportunity to work with some of the best people of my own class help me feel assured that I will be able to score good grades while also learning new things and experiencing new discoveries while working in a group.

The biggest task is not the assignment itself but the factor of having similarities with one another. During the very beginning of the task when we realise the problems that are faced by Nike as a brand, we brainstormed ideas and innovation plans for the company that we think will be the best of all to work for (Driskell, Salas & Driskell, 2018). But that different people have different mindset different kinds of issues that were a part of Nike is different Threads and weaknesses that also looking to be important to various others in the group. But coming to the conclusion choosing the following two issues of taxes and legal issues as well as counterfeit products was an initial success for all of us as we were able to finally decide what according to us is important to be acknowledged.

Apart from that the complete idea of innovation for all of us were different. One individual it was all about the development of the company economically while for the other one it was development on social basis which look more important (Salas et al.,2015). These Experiences make you understand more about  the general mind of an individual which holds different things as priorities in life as well as according to them different things are important for a brand even if there are various aspect that together create the success of a brand and in reality, each of us were right in our own way and all of these factors together are creating a successful brand image and a successful ecosystem for the company.

When I got to think of the role of an innovation consultant who was what I was playing in the team along with my teammates for night the whole responsibility and Idea became extremely important. An innovation consultant is a Consulting job which comes out to create a very important factor for any company and an innovation consultant is one of the recent roles which has been recently added to the Consulting industry (Valentine, Nembhard & Edmondson, 2015). The Consulting industry has become a widespread possibility of a career for any individual and while making myself participate in the following team project I even founded upon the idea of hoping to become one someday. Innovation consultants are outside forces that are hired by bigger organisations like Nike itself to come up within the organisation and analyse its problems and lacking in any other field which should be improvise and as an individual who understand how to innovatively tackle that issued the innovation consultant comes up with various ideas and prospects and cease to help that its implementation takes place in a successful manner within the organisation (Haas & Mortensen,2016). For me will be an understatement to say that the following job held huge level of responsibility and the person who has to do it has the ability to make or break a well-established organisation such as Nike. While working on the following project in order to pointer What was our weakness and what was our strength, I would say that our biggest strength was the fact that all of us were creative in nature. When working together is creative people are part of a group the chances of coming up with a better and more perfect and ideas become a reality very easily. Apart from that according to me the weakness that we held as a group was that all of us had ideas of our own which made it difficult to come up with a single plan in the very beginning as none of the square extremely keen on coming to a decision that will be mutually agreeable (Rosen et al.,2018). It does not state anything negative about one another but it shows the quality of leaders who are all part of a single team who are innovative in nature and wish to implement their own plants which according to them is better than what anyone has to offer. However which time and mutual understanding through proper mingling and talking with one another we will be able to come to a conclusion point during the whole process.

According to me the limitations of this whole group project was the abundance of assumption and the abundance of material that we could get on an organisation as big as Naik and the fact that most of the ideas that we were generating the already implemented by the company or was suggested by someone or the other through their own research journals. However, we did our best in making sure that whatever we do will create a positive impact on the organisation’s current status (Volkov & Volkov,2015). My own contribution to the following project was to create the whole steps of the innovation strategy and how each and every step will be implemented. Process of putting up a backbone or in simple words creating a skeleton for a body was my own job in the following process which according to me did justice to the innovation ideas that we all came up with. I can further state that this experience has helped me as an individual to learn how to be part of a group and work together with innovative and understanding people at the same time, this experience will stay in my mind for a very long time and help me be motivated to the time when I will actually become a innovation Consultant for company as successful and big as Nike.

References

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