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New products and services are at the heart of economic growth. At the heart of this production is the innovative firm, which by definition is one with a positive innovation investment and sales revenue from goods and services introduced on the commercial market. Firms innovate because research shows a significant correlation between profitability, productivity, employment growth and innovation for manufacturing or service firms.
In this assignment for task one, I will analyse AVEVA Group plc, an industrial and engineering software company that offers specialised software solutions to companies in industries and markets ranging from oil & gas, energy production, and manufacturing. The firm’s highly specialised engineering and industrial software is used by an array of clients including oil rigs, power stations, utility companies and airports all around the world, aiding in creating operational efficiencies and digitalisation. The analysis of Aveva will be to examine the impact of innovation on its performance and the role of innovation in economic development.

HARVARD
Kush, Jonathan (2020) "Evaluate the impacts of innovation for Aveva PLC" 123 Writing [Online] at https://www.123writing.com/sample/evaluate-the-impacts-of-innovation-for-aveva-plc

APA
Kush, J. 2020. Evaluate the impacts of innovation for Aveva PLC. 123 Writing. Retrieved from https://www.123writing.com/sample/evaluate-the-impacts-of-innovation-for-aveva-plc

 

Assessement task one (1250words)

The OECD defines innovation as ‘the implementation of a new or significantly improved product (good or service) or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations; it can be ‘new to the firm, new to the market or new to the world’ (OECD), 2010:1).

Evaluate the impacts of innovation for one of the following companies.

  • Britvic PLC 
  • Craneware PLC 
  • Aveva PLC 
  • Card factory PLC  

 


Key Learning Outcomes

By the end of assessment task one, students should be able to:
  • Get indepth knowledge and understanding of technological innovation, and the role of technological change in economic progress.  
  • Identify the financial and ICT issues for key business functions, and how innovation can impact the operations, sales and the profits of a case study company.
  • Appraise and recognise use of corporate governance and ethics within a business context.

 

1.0 INTRODUCTION


New products and services are at the heart of economic growth. At the heart of this production is the innovative firm, which by definition is one with a positive innovation investment and sales revenue from goods and services introduced on the commercial market. Firms innovate because research shows a significant correlation between profitability, productivity, employment growth and innovation for manufacturing or service firms (Lööf and Heshmati 2006). 
In task one, I will analyse AVEVA Group plc, an industrial and engineering software company that offers specialised software solutions to companies in industries and markets ranging from oil & gas, energy production, and manufacturing. The firm’s highly specialised engineering and industrial software is used by an array of clients including oil rigs, power stations, utility companies and airports all around the world, aiding in creating operational efficiencies and digitalisation (Annual Report 2018). The analysis of Aveva will be to examine the impact of innovation on its performance and the role of innovation in economic development.

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