Assignment Cover Sheet

Student Name: Student Number:

Syed Redwanur Rahman
Unit Name:

S239377
Unit Code:

School of Law and Business Charles Darwin University Casuarina NT 0909
Phone: (08) 8946 6830

Managing Innovation
Lecturers Name:

PRBM005

Abhishek Shukla
Assessment Title: Innovation Space Analysis using 4P Semester: 1 Applied for Extension:
N/A NO YES – to

Year: 2013

Assignment 2
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12-04-2013
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12-04-2013

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Assessment 2_PRBM005

Syed Redwanur Rahman_s239377

Page 1

Rolls-Royals power by hour shift. who argues that the same innovation space is applicable for any organization involved with innovation process. In doing so. Examples given below: Innovation Product Process Position Paradigm Incremental Windows XP. 4. Paradigm Innovation: Changes in the underlying mental models which frame what the organization does.Introduction: In today‟s highly competitive business world. ebay Shopping Tata Nano. strengths and weaknesses of the company‟s portfolio of innovation activity have been measured and finally an effort has been made to identify the new targets for the company to come up with better and more effective strategic innovation. Page 2 Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 . Moreover. (2008). 2. The 4P framework: Bessant and Tidd (2009) came up with the “4Ps” framework of innovation that basically deals with four major dimensions toward the change that is achieved by innovation. Using these four critical dimensions. By incremental change. Innovation plays a vital role for the companies to achieve competitive advantage. Process Innovation: Changes in the way the offering is created and delivered. it is meant that the changes are not drastic or the changes that are happened due to continual small improvements or innovation. Vista. On the other hand. LED TV Skype. innovation is successful commercial exploitation of new ideas. 1. Position Innovation: Changes in the context in which the product or service is introduced or placed. 7 Fixed Line Telephone Services Low Cost Airlines Ryan Air IBM Service Shift Radical Toyota Pirus. In this report. a map of innovation space (Appendix: 1) has been developed by Bessant and Tidd (2009). radical changes indicate those changes which bring a complete alteration in one of the four mentioned dimensions. Understanding each of these dimensions can certainly help an organization identifying what type of idea has been generated. The form of innovation varies from organization to organization and according to Dodgson et al. Product Innovation: Changes in product or service offering. a fabric innovator with ISO 9002 and Okeotex Standard 100 accredited products (Stretchtex 2013) and a global supplier of a range of swim and sportswear fabrics. an incremental and radical change domain has been suggested and these have been indicated by arrows on the innovation space map. innovation activities taken place in Stretchtex International Fabrics. 3. for each dimension. have been analysed using the 4Psframework of innovation developed by Bessant and Tidd (2009).

Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 Page 3 . Their fabrics are particularly good for swimwear applications due to their chlorine resistance properties (Samson 2010). Stretchtex has had to maintain continual innovation over the years in order to survive and prosper in the specialized niche market. The customer specifies a „wish-list‟ of properties and benefits desired from a fabric. **How does the innovation process work at Stretchtex? The usual process for a new product development at Stretchtex is an initiation with a customer requirement. which has accounted for some 70% of their sales for some time. basketball.Stretchtex International Fabrics: An award-winning Fabric Innovator Stretchtex has always endeavoured to innovate in creating fabrics for clothing with superior qualities which offer best customer satisfaction. Stretchtex has benefitted in market terms by supplying fabrics that were worn by medal winners in the Beijing Olympics (Samson 2010). In all these sports. and triathlon. Their main line of products is in the swimwear market. meaning swimwear for Muslim women (Samson 2010). chlorine) Examples of innovative fabrics produced by Stretchtex have been for elite athletes in sports such as water-polo. This is a team effort conducted by a group of very experienced staff. where sales volumes are not large compared to quite high price. sportswear and performance fabrics are some of the areas where the company has been proved especially successful. Fibres often need to be combined and many test runs and cycles of trial and error are conducted to optimize fabric performance and match the requirements. Another innovation from Stretchtex is the “BURQINI”. Swimwear. Perhaps one of their best known customers is the well-known branded company and product line of Speedo. Some examples of requirements are (Samson 2010):        Colour fastness Stretch and recovery Weight Water repellence Moisture management Sun/UV rating Chemical resistance (eg. Stretchtex then works to develop a fabric that responds to those customer requirements.

practicing a limited form of open innovation. compression fabrics have become an area of large potential growth. They have worked with leading designers like Peter Alexander and Body Science groups. weight and other properties are constantly sought. and universities such as RMIT. Improvements in water repellence. **Weakness Apart from coming up with the highly innovative products. So. led by the executives who always encourage the staffs to come up with the innovative ideas and concepts. Stretchtex always tries to move side by side with new and latest technology and product features. Stretchtex International Fabrics falls into the category of Incremental Product Innovator. the above discussion clearly suggests that the company is involved with a continuous product innovation and development process. Stretchtex has not done much process innovation over the years and there is every possibility that its competitors might come up with a better and innovative process which can steal the market share away from Stretchtex. APANZA. Stretchtex has productive relationships with many organizations. and plays the role as a first mover in the market. Staffs of the company are involved in innovation at all levels. Stretchtex has opportunistically moved forward with UV protecting fabrics. Hence. These fabrics came originally from NASA. in order to be competitive. efficiency in process is highly necessary. such as Cancer Council endorsed fabrics for beachwear. in the market. in recent years. according to the map of innovation space. AWTA (wool testing authority). such as stretch performance. Moreover. distance from its high profile customers can be a concerning factors in the coming days. for example.**Strengths Stretchtex continually tries to create innovative applications for differentiated products. and Stretchtex innovated “Skins” fabrics from this source of a new product category (Samson 2010). stretch and return. The company‟s innovation and development processes are supported by various subsidies that from time to time come from government: textile industry support and R&D support schemes help and provide incentives to develop new products (Samson 2010). Stretchtex continuously focuses on the development of its products‟ performance. In this category. Stretchtex has a technical edge over its competitors in the speed of its innovation cycles and product performance (Samson 2010). Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 Page 4 . These partners include CSIRO.

according to the map of innovation space. So. the company can look forward to get involved with process innovation along with the product innovation in the coming years. So. Their strengths prove that they possess the endeavour and culture to cater innovation in their product development process.Time for Process Innovation: Based on the weaknesses sorted out in the previous page. Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 Page 5 . which. though they lack innovation in their process and distribution. the company must find out a better product creation and distribution process which would help the company to come up with even more innovative products and make those innovative products available to a larger amount of customers all over the world. is called process innovation. the company can certainly look forward to bring in innovation in the product manufacturing and distribution process. Conclusion: The above analysis using 4Ps framework of innovation has shown that Stretchtex International Fabrics is involved with continual product innovation over the years.

Appendix 1: Figure: The 4Ps of Innovation Space (Bissant and Tidd 2009) Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 Page 6 .

45175338. Managing Innovation: Integrating Technological.pdf&ei=te FnUaqECqfxiAfS2oCoCA&usg=AFQjCNHPJKGQkG8KAnfePflOwxfIdoYNQg&bvm= bv. J.au%2FIndustry%2FIndustryInnov ationCouncils%2FDocuments%2FInnovationforbusinesssuccessTechstrat. D. Oxford University Press. Innovation for business success: Achieving a systematic innovation capability. (2010).References: Bessant. Stretchtex 2013.. Market and Organizational Change.d. UK: Wiley. D. viewed 27 March 2013. Science and Research. Australian Government Department of Innovation. (2009). and Tidd. Gann. http://www. About Us.com. Stretchtex: a specialist niche innovator.stretchtex. J. http://www..com.au/about-us. Canberra. Samson. (2008).html Assessment 2_PRBM005 Syed Redwanur Rahman_s239377 Page 7 .google.gov.au/url?sa=t&rct=j&q=Innovation+for+business+success:+Ach ieving+a+systematic+innovation+capability&source=web&cd=1&cad=rja&ved=0CDQ QFjAA&url=http%3A%2F%2Fwww.dGI Dodgson. D. viewed 3 April 2013. Salter. A.innovation. 4th edn. Industry. The Management of Technological Innovation.