Proposal For Product Innovation

Question: Describe about for Proposal For Product Innovation? Answer: Introduction: According to Stania, (2013) implementation of innovation in existing products not only improves its quality but also provides organization with new business opportunities. However, innovation can be implemented at two stages. Generally the organizations bring innovation in their existing products continuously in order to enhance efficiency of these products. However such innovations are cost effective to the organizations as bringing gradual changes in a product has less negative impacts on the number of sales (Ford and Paladino, 2013). On other hand, Lee et al. (2013) opines that bringing disruptive can lead to significant financial losses for an organization. According to Jackson (2013) chances of product failure is high in case of disruptive innovations. However, often the companies launch new products to attain competitive advantages in market. The current proposal deals with designing Driverless cars. Although Google already designed a prototype of automated cars, driverless veh icles are not commercially available in market. Apart from this, driverless vehicles are completely new product in automobile industry and these cars can be considered as example of disruptive innovation. Description: Driverless cars will not require any human input for navigating. The car will contain different applications of network technology such as radar, GPS and computer vision. In the proposed cars sensors will be used for identifying the obstacles. However the sensors will also be used to identify the track for reaching destination. The car will use GPS technology to create a map for its surrounding areas (Anderson et al., 2015). However, the map will be updated regularly. Driverless vehicles can benefit its users in various ways. It can reduce the chances of accidents and traffic congestion. Use of driverless cars can reduce the chances of car theft also. Justification of Innovation: As this car will sense obstacles on its way, the chances of accidents will reduce significantly (Miller, 2014). On other hand, if any obstacle comes suddenly in front of the car, reaction time will be lower than that required by human driver. Thus the chances of accidents will reduce. Sensors in autonomous cars will direct to maintain minimum safety distance from other cars. It indicates that increase in the number of fully autonomous cars will reduce traffic congestion. As the maximum speed will be limited in driverless cars, number of accidents due to reckless driving will reduce. Apart from all these benefits, parking efficiency of cars will increase. It will provide better riding experiences to the passengers. However, functioning of autonomous cars depend on the quality of software used in design. As it uses Wi-Fi and Bluetooth networks, incidents related with privacy loss can increase. Technology requirement: Driverless cars will use sensors for getting information regarding the environment surrounding it. The cars will contain GPS technology to get information about its destination. However, the prototype car of Google used laser technology for mapping the environment (Miller, 2014). In the proposed car, laser technology can also be used for creating map. As the car will not use any human input, different applications of communication technology will be used in the design so that it can interact with other cars on road. In the proposed car, short range communication technologies such as Bluetooth or Wi-Fi will be used. Target market: It is expected that the driverless cars will be used extensively by transportation service providers (Lee et al.2013)). However these cars can also be used for transportation of products. Use of automated cars can be effective for testing the condition of a road. However use of driverless cars is expected to be high among visually impaired and aged persons as it does not require any input from passengers. Competitive advantages: As the need of fully autonomous cars is increasing, organizations in automobile industry are focusing more on the research and development of driverless cars. Most of these companies are expected to launch driverless cars in market by within a few years (Miller, 2014).as the demand of this car is high; launching such products earlier than other organizations can be advantageous for an organization. However, the organizations can also focus on keeping the prices low for attaining competitive advantage. Viability of products: Design of the driverless cars is based on the use if different technologies such as GPS, laser, Bluetooth, WI-Fi etc. However, the applications of these technologies are easily available in market. It indicates that manufacturing of driverless cars will be cost effective. On other hand, it is expected that autonomous vehicles will account for almost 75% in 2040 (Ieee.org, 2015). It indicates that the number of sale and revenue will be high. Conclusion: Although the analysis indicates that manufacturing of automated cars will be profitable, more research is required on its design to enhance the efficiency. It is also important that the proposed car will be user friendly. The design requires to be modified to keep the manufacturing cost lower. References: Ford, D. and Paladino, A. (2013). Enabling Innovation through Strategic Synergies. Journal of Product Innovation Management, 30(6), pp.1058-1072. Ieee.org, (2015). IEEE News Releases. [online] Available at: https://www.ieee.org/about/news/2012/5september_2_2012.html [Accessed 9 Mar. 2015]. Jackson, P. (2013). Integrated synoptic surveys using an autonomous underwater vehicle and manned boats. [Reston, Va.]: U.S. Department of the Interior, U.S. Geological Survey. Lee, S., Yoon, K. and Lee, J. (2013). Frontiers of intelligent autonomous systems. Berlin: Springer. Anderson, J., Kalra, N., Stanley, K., Sorensen, P., Samaras, C. and Oluwatola, O. (2015). Autonomous Vehicle Technology. [online] Available at: https://www.rand.org/content/dam/rand/pubs/research_reports/RR400/RR443-1/RAND_RR443-1.pdf [Accessed 9 Mar. 2015]. Miller, J. (2014). Google's driverless cars designed to exceed speed limit. [online] Available at: https://www.bbc.com/news/technology-28851996 [Accessed 9 Mar. 2015]. Stania, M. (2013). Mechatronics Systems of Autonomous Transport Vehicle. SSP, 198, pp.96-101.