Critical Successful Factors Affecting Innovative Services
Date Issued
2010
Date
2010
Author(s)
Chen, Juin-Shing
Abstract
Enterprises are facing international economic downturn in recent years. There are sub-prime crisis and the financial tsunami. Businesses require constant innovation and sustainable development in order to foster long-term success. The ways to identify which key factors will affect the outcome of launching a new innovative service is the focus of this study. Although there are many analytical tools available to management teams before launching a new service, decision makers will inevitably face a multitude of analytical results without having proper reference points to know which decisions to make. Therefore, this paper would like to highlight the key factors affecting the innovative service and the findings will serve as a reference for future strategic development to obtain a greater chance of success.
The study concludes that there are four key factors affecting the success of innovative services, namely value, resources, time and environment. Value is determined based on customer’s perceived value over the price they paid. Resource refers to the key resources available to a business; Time refers to two things: the timing of product or service launch and the time to success. Finally, environment is concerned with public policy, region, market scale, and participation. Innovative services are more likely to face the problems with laws and regulations, and public policies can easily dictate the chance of success. By analyzing the critical successful factors, decision makers can better understand the company’s position in the industry it operates and make adjustments in accordance with the findings to increase the possibility of success.
To gain real evidence on how these key factors affect innovative services, we have implemented the concept of a telecare. We hope that our model of key factors will not just be limited to innovative services, but can be further applied to other business activities as well, helping management teams make informed decisions that can lead to success in a variety of new endeavors.
Subjects
value net
Co-opetition
Five force analyze
Product life cycle
Telecar
Type
thesis
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