Innovation

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Innovation Portfolio of

Gibraltar Solutions.Inc

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Executive Summary

The process of turning knowledge into commercial solutions is known as innovation.


The introduction of innovative thinking and inventive approaches to address present
problems or improve the organization's operations is referred to as business
innovation. Most organizations use business innovation to acquire a competitive
advantage over their competitors, thus this innovation is crucial.

Tidd and Bessant's idea is incorporated into the research. Evert Rogers' diffusion of
innovation idea is also taken into account. With roughly 50 workers, Gibraltar
Solutions. Inc is classified as a small and medium-sized enterprise (SME). The
company's problems are highlighted, and an innovative solution is proposed. Internal
resources and this one organization study are carried out, as well as potential external
challenges and the importance of organizational culture.
Table of Content
Executive Summary..................................................................................................................2
Innovation management....................................................................................................6
Innovation Process model..................................................................................................6
Search........................................................................................................................7
Select.........................................................................................................................7
Implement..................................................................................................................8
Capture......................................................................................................................8
Innovation in Practice........................................................................................................9
Company context...............................................................................................................9
Innovation in action:..........................................................................................................9
Challenge 1:...............................................................................................................9
Challenge 2:.............................................................................................................10
Challenge 3:.............................................................................................................10
Challenge 4:.............................................................................................................10
Challenge 5:.............................................................................................................11
Importance of leadership:................................................................................................11
Internal Resources...........................................................................................................12
Strengths:.................................................................................................................12
Weaknesses:.............................................................................................................13
Opportunities...........................................................................................................13
Threats:....................................................................................................................13
Porter Five Forces ( External Resources)........................................................................14
1. Threat of New Entrants........................................................................................14
2. Bargaining Power of Suppliers............................................................................14
3. Bargaining Power of Buyers................................................................................15
4. Threat from Substitute Products...........................................................................15
5. Rivalry among the existing players......................................................................15
Development & Implementation.....................................................................................16
Conclusion......................................................................................................................17
References.......................................................................................................................18
Innovation management

During the last three decades, businesses and researchers are found to be more
focused on innovation management (Lindgren, 2012). This ambition is most likely
motivated by the realization that innovation is critical to an organization's
existence(Sorescu, 2017). There is always a competition for market share, whether it
is a corporation or a service (Gottinger, 2016). Businesses are indeed highly interested
in the process of innovation and the identification of activities that will assist them in
technological advancement (Silva, Styles and Lages, 2017). Innovation can be
regarded as gradual, radical, or revolutionary depending on whether it originates from
inside or outside the pattern, and if it replaces an existing technology (Hussein, 2018).
The ability of businesses to innovate, as well as interactive learning processes that are
socially and economically oriented, determines their competitive edge. As a result, in
today's global business environment, innovation is essential for economic and social
success (Johnsson, 2018).

Innovation Process model

Innovation is a critical component of a successful business strategy. The majority of


innovators fail because they attempt to apply innovation using the inappropriate
paradigm (Andries & Debackere, 2013). If there are lack of necessary skill it may lead
to failure. An innovation model is a methodical structure for generating, developing,
and implementing ideas (Acklin, 2010). Thus the emphasis of business innovation is
on implementing ways to generate the required value for the company(Kozioł-
Nadolna & Świadek, 2010).

According to Tidd and Bessant (2018), the innovation process model is the four-stage
process of getting concepts to life and deriving value through them. As illustrated in
Fig 1.1 these four steps are:1) Search ,2) Select, 3) Implement and, 4) Capture .
Figure 1.1 Innovation Process Model (Tidd & Bessant, 2018)

Search

To begin, organizations look around them for essential traits related to opportunities,
dangers, and competition, both internally and externally (Cantarello et al., 2012).
Ideas may strike at any moment and from anyplace. Many sources of invention have
both push and pull features, and relying just on one of these innovation drivers may be
risky (Poetz & Prügl, 2010). It is critical to understand your clients' demands and
behaviour. If an issue that affects just a small fraction of the population is addressed,
the proposal is unlikely to catch on. As a result, it is critical to ask a lot of questions,
to be as varied as possible, and to seek for any relevant tendencies to steer idea
development. It's critical to identify experts who can offer suggestions and ideas for
what the project genuinely requires. Outline the project's objectives so that they may
be utilized as a guide to meet project goals (Whyte, 2010).

Select

The next step is to come up with a set of selection criteria to use when evaluating your
ideas (Eling et al., 2015). Agree on the criteria as a group and assess how each one fits
into your business in specific areas. The company should assemble a broad group of
individuals with a diversity of experience from throughout the organization
(Henttonen & Ritala, 2013). Include subject area experts as well as creative thinkers
who can think outside the box to guarantee the ideas are feasible (Jha, 2018). Perform
a preliminary assessment of all concepts. Those who refuse to address the issue or are
ineffective should be sacked. Consider which of the remaining ideas has the most
potential for collective growth. It is quite likely that one will generate a few solid
ideas that will lead to more investigation (Bonecki, 2016).

Implement

The capacity of a corporation to transform a concept into a successful implementation


may make or break its competitive advantage. Before converting ideas into realistic
offerings, it's critical to grasp the company's strategic direction. Inspiration can strike
at any time and any place inside the organization (Sari et al., 2021). Problem
resolution, data collection, and successful product launch that meets customer needs
are all part of the implementation (Voss, 1992). Awareness, testing,  appraisal, and
market acceptability are all phases that a new product goes through. It should be built
around a number of trial and error identification (Ozer, 2010). A supportive
workplace culture aids inspiration in a variety of ways, including fostering
information exchange. It is critical to gather and analyse data during the
implementation phase in order to guide future innovation. Employees are more likely
to learn from past failures if a company's culture is creative (Ramus, 2001).

Capture

To capture value, the company must have a strong negotiating position with the
owners of the synergies that are required to harness innovation (Oksanen &
Hautamäki, 2015). Businesses must have market domination over crucial resources in
order for an innovation to generate maximum revenue (Roos, 2014). Such resources
include suppliers, production capacity, sales networks, maintenance facilities, and
advertising teams. As you move up the value chain, more information will become
available and company can analyze the flaws for future improvements (Greenacre et
al., 2012).
Innovation in Practice

Company context

Gibraltar Solution is a top Canadian technology corporation with over 20 years of


expertise (Crunchbase, 2021). They are based in Mississauga and specialize in the
design, integration, and optimization of enterprise-level IT infrastructure for
businesses, industries, and governments (Gibraltar, 2022) . Customers expect them to
assist them in automating, streamlining, and managing their IT operations, as well as
digitally transforming their enterprises for increased productivity, performance, and
profitability (yahoo finance, 2012). Their solutions span from point solutions to fully
managed project implementations and are intended to meet the changing demands of
today's modern industry(Hewitt, 2015) . Gibraltar Solutions Inc employs 51
employees and generates $10.11 million USD in sales across all of its locations (Staff,
2014). The primary purpose of Gibraltar Solutions is to assist clients in achieving the
maximum degree of business performance possible by utilizing cutting-edge
technology (Nguyen, 2015). They provide a wide range of services by utilizing a
diverse set of new technologies gained through vendor agreements. Their services
assist enterprises in hastening their digital revolution. All through years, they've
completed hundreds of projects for a diverse range of clients, ranging from huge
multinational enterprises to tiny regional firms. Because of their extensive expertise,
they have been able to develop and apply the most effective methods for delivering IT
solutions(Gibraltar Solutions, 2022). Small businesses are the core of every economy,
and their protection is more crucial than ever given the global economic implications
of COVID-19 (Chundakkadan et al., 2020).

Innovation in action:

Challenge 1:

During the epidemic, there were several salary cuts to deal with the financial load. As
a result of the lockdown, several employees were unable to work (Brown, 2021).
Employee-centered cooperation have certainly performed better and is responding to
the economy's eventual reopening more quickly and efficiently. Working from home
has become a need for many businesses around the world due to the Covid-19
epidemic lockdown , but it is not without risks and concerns (Hassan, 2021).

Challenge 2:

In today's security environment, cyber attacks are becoming more complex and
persistent. Attaching sensitive content directly to an email poses a security risk,
ranging from the most basic action of forwarding the email to those who should not
receive it to the more serious threat of malware-infected attachments (Horowitz &
Lucero, 2017). However, due to the fact that different companies utilize different
systems, transferring files outside of your company is getting increasingly
complicated. In order to complete their tasks on time, employees resort to using a
technology that is not licensed . This might expose sensitive company and client
information to the internet (Marcinauskaitė et al., 2019). Cyber security must become
more strong, aware, and responsive in order to guard against these attacks.

Challenge 3:

There are situations when a company must pay hefty fees to employ cloud computing.
When resources are mismanaged, such as servers that aren't used to their maximum
capacity, hidden expenses emerge (Froehlich, 2017). If application performance is
impeded, or if consumption spikes, it adds to the total cost.  Another key cause of cost
increase is unused resources. Company might  have to spend more money without
even using the resources if they activate cloud services and then forget to turn them
off when they are not in use (Vakilinia, 2018).

Challenge 4:

Cloud computing is involved with real-time resource allocation, and it frequently


demands enormous amounts of data transfer between computers (Vakilinia, 2018b).
This task requires the use of the internet. Even if these data and resources are
transported across the network, they may be particularly vulnerable if bandwidth is
limited or if there is a sudden interruption (Pallis, 2010). Even if a company saves
money on hardware, it must ensure that it has enough internet bandwidth and no
network problems, or it will suffer financially (Wei & Blake, 2010). As a result,
maintaining network capacity at a high cost is a key challenge for Gibraltar solutions.
Challenge 5:

Working with the cloud can be time-consuming due to its complexity and high need
for research (Sebastian, 2021). It requires extensive subject skill set. Although there
are professionals in this industry, skill development and upgrading is very necessary
as technology advances (Oreste & Christopher, 2018). Because of the wide gap
between demand and supply, cloud computing is a lucrative profession but there  are a
limited number of experienced cloud programmers, engineers, and specialists
available (Cusack & Adedokun, 2021). The organization must focus on employee
skill development in order to actively comprehend, manage, and design cloud-based
systems with the least amount of complexity and maximum efficiency (Ibrahim &
Bassiouni, 2020).

Importance of leadership:

When it comes to managing innovation, leaders perform a very significant role. They
encourage people and organizations to come up with creative solutions from the
bottom up (Ideascale, 2013). The most successful approach for a company to achieve
its top-down innovation goals and projects is through its leaders (Philmckinney,
2016). Executives at Gibraltar Solution provide effective leadership by collaborating
with the board of directors and other executives to develop short and long-term goals,
policies, and strategies (RocketReach, 2021). The leader is responsible for the overall
administration of the Gibraltar team, including resource allocation and budget
management (Indeed, 2022). Leadership drives the company's goals while also
holding shareholders, customers, and Gibraltar workers responsible (Carmeli et al.,
2010). A skilled manager create excellent communication channels both within and
outside of the sales and service teams. It establishes attainable sales and service goals
and objectives that impact individual and organizational performance (Pham et al.,
2021). The leaders are responsible for all procedures and challenges associated with
the sale and delivery of Gibraltar Solutions' goods and services. They develop and
report on metrics that define success for both individuals and groups. Create and
implement initiatives and solutions that increase profitability and help the company
meet its goals. They are in charge of developing and enforcing best practices and rules
that are consistent with Gibraltar's values and aspirations (Gibraltar Solutions, 2022b).
Gibraltar Solutions has a results-driven culture that welcomes change and challenges
while exerting significant effort. A person-driven culture prioritises employee
welfare, and employees who work in a parochial culture exhibit the same
characteristics at work as they do at home. They have a loose pragmatic culture that
allows for procedural flexibility if it means meeting customer needs (Muhammad
Yousuf Sharjeel et al., 2021).

Internal Resources

An internal analysis assesses an organization's capabilities, liabilities, characteristics,


capacities, and market prospects by examining its internal environment (Olsen, 2021).
In a nutshell, it identifies a company's strengths and weaknesses, which may aid
management during the decision-making, development plan, and implementation
phases (Vaněk et al., 2017). The SWOT analysis is a well-known and widely utilized
business analysis approach (Sammut-Bonnici & Galea, 2015). Its appeal stems from
its ease of use, as it covers both internal and external analysis, as well as its
effectiveness.

Strengths:

1. Strong financial position

2. Strong Leadership

3. Strong relationship and trust with existing suppliers

4. Improved client experience

5. Skilled workforce.

6. excellent operational agility

7. business competitiveness, profitability, and relevance

8. Optimize Centers for Information Technology

9. Outstanding service quality

10. Mobilize Work spaces

11. Improved Cyber security


Weaknesses:

1. Meetings are frequently done online since employees are not constantly at the
office due to the virtual work environment.

2. High profits and relatively less salaries.

3. Maintaining multi-cloud environment is difficult

4. Cyber Security and privacy issues

5. Ineffective financial planning .

6. In the workforce, there is a high rate of turnover.

Opportunities.

1. New marketplaces have emerged as a result of a government agreement.

2. The new technology will assist Gibraltar Solutions.

3. New clients have arrived over the internet.

4. Changes in consumer behaviour may offer up new opportunities for the company.

5. Changes in customer behaviour may open up new market prospects for them.

Threats:

1. Lack of information sharing between stakeholders.

2. The company's profitability is being challenged by rising pay levels.

3. The expanding influence of local distributors

4. Covid-19 strengthened trade barriers and enforced new rules as a result of


counterfeit and low-quality product imitation.

5. Increased trade barriers and new regulations, because of Covid-19.

Gibraltar Solutions, Inc. is a market leader in its sector. Gibraltar Industries, Inc.
maintains its market dominance by thoroughly examining and scrutinizing the SWOT
analysis.SWOT analysis is a fast-paced process that requires great coordination from
marketing, finance, logistics, enterprise resource planning, and strategy
implementation departments (Benzaghta et al., 2021).

Porter Five Forces ( External Resources)

Porter Five Forces analysis can assist a company in examining industry


attractiveness, identifying numerous trends that may effect the competitiveness of
company (Porter, 1979) and determining which industries a company can compete in
in comparison to other firms in the sector to gain a sustainable competitive advantage
(Fung, 2014). The Porter Five Forces are given below:

1. Threat of New Entrants

New entrants into the virtualized and cloud solutions industries bring different
innovative concepts, placing Gibraltar Solutions, Inc. under pressure (Uddin et al.,
2021). As a result, the company has to reduce pricing, minimize expenditures, and
provide new methods to give value to clients (Dan, 2013). Gibraltar Solutions, Inc.
must handle all of these concerns and develop successful tactics in order to keep its
competitive edge (Baker, 2021). The corporation may be able to solve this difficulty
through innovation. New products not only entice new consumers to buy Gibraltar
Solutions, Inc. products and services, but also encourage existing customers to do so.
By achieving economies of scale, it is possible to reduce the fixed cost per unit. They
have the financial means to invest in capacity building as well as R&D (Francois &
Wooton, 2010).

2. Bargaining Power of Suppliers

If the industry is dominated by powerful suppliers, those powerful suppliers limit the
company's scope of profitability since the suppliers make the largest margins and
leave little room for other supply chain partners to gain (So, 2018). Microsoft's
operating system is used by Gibraltar solutions. Raising the price of Windows might
have a significant impact on Microsoft's profitability since the company would have a
difficult time passing on the cost to customers (Bruijl, 2018). Changing suppliers may
be costly and damaging to a company's reputation in the long run. If companies shift
to Ubuntu OS, for example, they risk losing clients who are acclimated to the
Windows experience.
3. Bargaining Power of Buyers

Prominent and prominent buyers can put a pressure on a company's profitability by


demanding more for their money, lowering prices, demanding more services,
comparing companies (Chae & Heidhues, 2003). Buyers may desire the best items at
the lowest possible cost. As a consequence, the long-term profitability of Gibraltar
Solutions, Inc. falls. Business may counteract buyer bargaining power by building a
large client base (Hampton & Stratopoulos, 2015). This is beneficial in two ways.
Customers' negotiating power will be reduced, and the business will be able to
simplify its sales and manufacturing methods. It is capable of rapidly developing new
products (Zhao et al., 2015). Customers often seek discounts and special offers on
well-known goods; therefore, if the corporation continues to produce new products,
buyers' negotiating power may be diminished. Clients who are already customers of
Gibraltar Industries, Inc. are less likely to move to others as an outcome of new and
innovative products (Alexandrou & Sudarsanam, 2001).

4. Threat from Substitute Products

When a new product or service meets equivalent customer desires in different ways,
profit margin declines (Gupta et al., 2020).  A replacement product or service offers a
significant risk if it provides a value proposition that differs significantly from the
company's current offerings. Gibraltar Solutions, Inc. may avoid the hazards
associated with substitute products / services by focusing on service rather than
product and addressing the customer's underlying need rather than the product they
are getting (Beke, 2017).

5. Rivalry among the existing players

Due to the obvious level of rivalry among current rivals, the firm's profitability offer
may be severely constrained (Bruin, 2016). Existing player competition takes the
form of, among other things, product discounts, new product launches, service
advancements, and advertising efforts (Nicolaides, 1988). Gibraltar Solutions, Inc.
may compete more successfully in the  market by building a sustainable
distinctiveness and magnitude.Rather than competing for a small market,  the business
should work with competitors to expand the market (Scott, 2020).
Development & Implementation

Company can significantly improve financial reporting while maintaining structural


divisions and visibility/posting permissions for users by storing various master
records such as items, vendors, and customers from various corporate entities,
locations, or structures in a single database, similar to a multi-database setup
(Gravelle, 2019). Because of the reduced administrative requirements and increased
productivity enabled by a centralized accounting environment, costs can be  reduced
(Adeoye et al., 2011).

Gibraltar Solutions is a Cloud-based work shift representative but it has fair share of


concerns. Research and the use of modern technology are both required to solve these
issues. Mobile and cloud technologies, when used correctly, can improve corporate
information security and governance, as well as employee satisfaction, engagement,
and retention (Sen, 2013). It can also save money on capital expenditures by
subsidising BYOD (Bring Your Own Device) programme and lowering employee
turnover. Employees are able to work from home or any other location that is
convenient and productive, reducing unnecessary commuting (Park & Kim, 2014).
When employees bring their own devices, employers save money on IT purchases
overall (Beckett, 2014). It also offers unparalleled convenience and flexibility to
employees. This working model, however, poses serious security risks if not properly
managed (Ratchford et al., 2021). Unauthorized third parties can gain access to
sensitive business data via misused or stolen devices, allowing them to breach the
company network or compromise valuable data (Tokuyoshi, 2013). Data breaches
from these devices can be difficult to detect, especially if the proper tools are not
available (Oktavia et al., 2016). Different characteristics of cloud storage should be
defined by a cloud policy (Li, 2021). To begin, decide which data should be stored
with which cloud storage provider. When backing up, balance different providers to
reduce the risk of data loss and exposure (S & Venkateshkumar, 2018). Employers
should ensure that files are encrypted during cloud transit and storage to minimize the
risks (Han et al., 2019).
Conclusion

The purpose of this study was to figure out how to redesign the Gibraltar Solution. Inc
in today's globalized environment. This study looked into Gibraltar Solution.Inc
which is a SME with 50-100 employee. The research assessed the organization's
primary challenges after describing Tidd and Bessant's innovation and process
model.Small businesses are the core of every economy, and their protection is more
crucial than ever given the global economic implications of COVID-19 .In this
situation the already implemented working system of Gibraltar made the business
thrive. It already recognized that few employees love the tedium of the same Monday-
to-Friday schedule, thus the corporation has embraced remote working extensively.
There are no limitations on the number of days workers can work from home.
Employees have more freedom in terms of when and how they work as a result of
these combined benefits. As a result, people will feel trusted and encouraged to
manage their time and responsibilities on their own. Employees like not having to
look over employers shoulders since they can complete so much of their job alone.
Cyber security is also major challenge faced by the company. Gibraltar Solutions not
only defends itself, but also aids the IT team in lowering the risk of cyber attacks and
preventing unauthorized access to systems, networks, and technology.
Furthermore,the business must go through the process of innovation. It must create
new products and services in order to attract customers and generate income. This
corporate performance management is critical for increasing the organization's
efficiency. Internal organizational resources are the most powerful weapons in the
fight against the threat. The company's SWOT analysis is reviewed briefly, as are the
potential external challenges associated with the innovation.  A company's culture has
a direct impact on its performance. The significance of a strong organizational culture
is emphasized. Through the use of innovative strategies, business problems can be
solved and company’s performance can be improved.
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