Innovation In Business Through Open Data: A Comprehensive Research Proposal

Objectives of the Research

The following report aims to present a proposal regarding the innovation of the modern business through the help of open data. Innovation in business has seen a new revolution since the advancement of modern forms of technology that has been helpful for the growth of the business. The main research will aim to determine and analyze the different process of innovation that is prevalent in the modern business world (Culpan 2014.). The scope, objectives and the questions of the research has been discussed. A detailed literary review of the project that explains the topic of the research in different angles and different possibilities has added to the scope of the research.

The report has some specific objectives to fulfill that deals with the different types of the latest technologies especially in mobile computing, development and the contribution of the business opportunities. The fulfillment of the objectives of the business will highlight the importance of the mentioned data forms in the business.

The report will try to highlight all the different elements and concepts that are related to innovation in the business organization. The implementation of all such elements along with the introduction of the different types of the business elements will be increasing the scope and limit of the research and it will be then referred to by other researchers to use in any future researches concerning the similar topic as the one mentioned here. The varied range of the research scope will be providing an opportunity for the formulator of the research to get a more compact and detailed research result and meet the goals of the project.

The concept of the open data has been one of the main factors that have steered most of the business organizations of the modern business world to the path of success. The management of the business organizations gives utmost importance to the storage and security of the data as it is believed to be the most important component of the business(Angelidou and Psaltoglou 2017). The information varies from organizations to organizations. The range of the information varies from the likes of the customer-related data, financial data, market data and many more as such. The information may be technical or semi-technical in nature depending on their uses by the organizations.

There are some standard features that are unique to open data. Such a feature makes the open data free for everyone to access and share in a proper way. This also implies that there will be no such legal regulations to the obtaining of the data and also for using it for multiple purposes(CohenAlmirall and Chesbrough 2016). The open data is also available in the internet and is free for access and unlimited use. Therefore open data is generally used by a large percentage of people who prefer to use the unlimited advantage to full extent both in their personal as well as in their professional business lives. The existence of the different users of this particular data most of the business enterprises have focused in the delivery of the open data in different formats, in different ways for the large number of global users. There are both technical as well as semi technical data users as well as the casual users who have their own style of using the open data. The casual users have no such technical knowhow of the data that they use and use them just for meeting their different needs. On the other hand, the semi technical data users have some amount of professional knowledge and technical skills on handling the data. Last but not the least the technically skilled and able users of open data have a thorough knowledge on everything related to the uses and the technical skills to operate the data properly(Chesbrough Vanhaverbeke and West  2014). They also have the capability to transform the data into other different formats just according to their exact requirements. This helps them to meet up their needs. The open data policies reduce the barriers to entry into the business and thereby increase competition between the corporate bodies sponsored by the government and the fully owned private enterprises. However there have been many recent improvements in the adoption and the implementation of the open data. It has been able to meet the objectives of the government but have significantly improved the private sector as it present both the public and the private sector of the organization to make use of the platform and increase the potential value of the business for the customer. Open data has been able to provide the business sector the much needed innovation by providing the management of the different business enterprises the chance to identify the current business patterns and implement such kinds of strategies to remain a competitive force in the market and make proper profit in the market.

Scope of the Research

The Hypothesis that will be developed while doing the research is as follows;

H0-Business Innovation has no impact on the growth of the organization

H1-Business Innovation has an impact on the growth of the organization

The research questions that can be formulated from this particular research are as follows;

The primary research questions will be based mainly upon the different aims and objectives of the research. This includes the likes of;

1. What is the impact of business innovation on the modern business organizations?

The secondary research questions are as follows;

1. How have some business organizations utilized the open data policy to gain profit in the market?
2. How can open data provide essential insights into customer data?
3. Name some of the challenges to business innovation as a result of open data?
4. What are the advantages of business innovation and how can they help the firms to attain a competitive advantage? And what are the ways by which the open data is utilized by the business organizations?

The nature of the study is one of the most key elements in the research. It prepares the ideal base for the preparation of the methodology for the study(Boyack et al. 2018). The methodology part will describe in detail about the particular methods and processes to derive the way of deriving the results of the research and also deriving the strategies of the research. The use of both qualitative and quantitative data will be used in the particular research to make an in depth analysis of the different forms of innovations that are being currently undertaken by the global organizations to expand their business. The combination of the two different types of methodology will help the research to be more compact and detailed in nature(Creswell and Creswell 2017).

Research Design

The objectives of the following research will be evaluated by means of analytic or descriptive research designs. The descriptive research design will be chosen over the other two research designs mainly because the following research design has the capability to provide a perfect analysis of the different types of theories and concepts that are related to the following topic(Brunswicker. and Vanhaverbeke 2015). This will help the formulator of the research to gain an in depth understanding of the different trends of innovation used in the modern business organizations. The descriptive design thus provides a transparent and theoretical view of the given topic and will act as a great source of knowledge. Apart from the above mentioned importance of the use of descriptive design one of the most important reasons for the selection of the particular design is its wide scale acceptability which makes it one of the best in the organization (Culpan 2014).

The validity of the different types of information and the different types of research methods must be measured and tested according to the basic standards. The degree to which the assessment tool can easily produce the stable and consistent result of the information can be defined as reliability(Creswell and Creswell 2017). The validity and reliability of the information and the research as a whole is very much important for making the research flawless in nature. The formulator of the particular research must collect the information related to the innovative measures that business organizations undertake, from genuine and trusted sources.

Open Data and Business Innovation

The use of purposeful sampling method will be followed by the formulator of the research to complete the research procedure. This includes the detailed responses from the participants of the research which in turn helps the research to be more specific and theoretical in nature.

The sample size of the research will be determined by considering a number of elements. This will include the budget of the research, the time limit of the research and some other major to minor considerations. The survey will include the employees of a selected group of organizations. Initially it can be estimated that around 50 employees will be selected for the survey. The sampling process will continue for the following research until and unless a saturation point is achieved within the research.

The research methods that can be used to collect the data are performed by conducting interviews and focus groups. The interviews will be used for exploring the views, experiences and beliefs of the different participants of the research. The focus groups on the other hand will be used to generate qualitative data that will focus on the challenges faced by the organizations and the ways by which success can be achieved by them.

The variables of the following research will be focusing on the dependent as well as the independent variables that will be used to analyze the contents of the research and provide the results. The variables will help the research to focus in the right direction.  

Research design process

The quantitative research can also be used in the following research to carry out the statistical analysis of the following research. The data regarding the innovative concepts of the business organizations would be collected through a particular process of structured and semi structured research instruments and the results of the research will be based on the larger size of the research participants.

The research instrument for the particular research can be either online questionnaires or face to face interviews.

The SPSS method have to be to analyze the contents of the research. The SPSS method will involve statistical analysis from various angles and will involve a large number of different considerations.

The quantitative analysis will involve a greater sample size and will also involve the backup of a healthy budget to complete the survey in a proper way.

The questionnaire can be provided to the participants of the research survey through internet. The interviewing of the participants can also be done face to face to save the costs involved in online chats or online conversations.   

As mentioned for the qualitative data, the quantitative data need to be collected from genuine sources to ensure the accuracy of the different calculations.

Limitations in a research are quite common. There may be situation where the theories and models used to conduct the research are not appropriate to provide the exact requirements of the research. There are also possibilities that the resources are limited in nature which restricts the researcher to provide quality sources and proper research materials for the research. However the research needs to be done accurately and properly to ensure success.

 Time Schedule

Table 1- Time Schedule Table  

Source: (As created by the author)

Conclusion

The research that will be done in the coming days will highlight quality information regarding the provided topic of the organization. The proposal has provided a brief yet compact picture of the upcoming research. It can be concluded that the research will provide a much better scope for the given research topic.

Reference

Angelidou, M. and Psaltoglou, A., 2017. An empirical investigation of social innovation initiatives for sustainable urban development. Sustainable cities and society, 33, pp.113-125.

Boyack, K.W., Smith, C. and Klavans, R., 2018. Toward predicting research proposal success. Scientometrics, 114(2), pp.449-461.

Brunswicker, S. and Vanhaverbeke, W., 2015. Open innovation in small and medium?sized enterprises (SMEs): External knowledge sourcing strategies and internal organizational facilitators. Journal of Small Business Management, 53(4), pp.1241-1263.

Chesbrough, H., Vanhaverbeke, W. and West, J. eds., 2014. New frontiers in open innovation. Oup Oxford.

Cohen, B., Almirall, E. and Chesbrough, H., 2016. The city as a lab: Open innovation meets the collaborative economy. California Management Review, 59(1), pp.5-13.

Creswell, J.W. and Creswell, J.D., 2017. Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.

Culpan, R. ed., 2014. Open Innovation Through Strategic Alliances: Approaches for Product, Technology, and Business Model Creation. Springer.

Jetzek, T., Avital, M. and Bjorn-Andersen, N., 2014. Data-driven innovation through open government data. Journal of theoretical and applied electronic commerce research, 9(2), pp.100-120.

Marczyk, G., DeMatteo, D. and Festinger, D., 2017. Essentials of research design and methodology. John Wiley.

Mohalajeng, L.E. and Kroon, J., 2016. Innovation through accelerators: A case for open innovation. The Southern African Journal of Entrepreneurship and Small Business Management, 8(1), pp.1-9.

Neuman, W.L., 2016. Understanding research. Pearson

Patten, M.L., 2016. Proposing empirical research: A guide to the fundamentals. Taylor & Francis.

Vega-Jurado, J., Juliao-Esparragoza, D., Paternina-Arboleda, C.D. and Velez, M.C., 2015. Integrating Technology, Management and Marketing Innovation through Open Innovation Models. Journal of technology management & innovation, 10(4), pp.85-90.

Zuiderwijk, A., Helbig, N., Gil-García, J.R. and Janssen, M., 2014. Special Issue on Innovation through Open Data: Guest Editors’ Introduction. Journal of theoretical and applied electronic commerce research, 9(2), pp.i-xiii.

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