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An individual, written assignment of approximately 2,000 words, excluding tables, diagrams, headings, appendices, bibliography, etc.
Each person is required to identify IT technological innovation and explore how that innovation is positioning itself to attempt to gain/maintain competitive advantage and lead the IT sector. You should explore any aspect that may be relevant to that technology such as pricing, features, functions, speed, core processors, brand values, etc. This list is not prescriptive and you are free to explore what makes this technology different and explain how it has responded to the market. Ensure you mention how its position has changed in recent years and conclude your work by giving your own opinion on what it needs to do to succeed in this sector in the next 2-5 years.
The topic for the INDIVIDUAL REPORT is 3 D PRINTING as a disruptive innovation .
Students will be required to show evidence of research from a range of sources including credible media sources. Use of academic and industry journals is not essential. You should avoid just relying on corporate websites although you are encouraged to contact your chosen companies in order to get some direct information from the organisations blogs.
I would need 10 references for it , using Harvard referencing style.
With its first pitch in 1995, the theory of disruptive innovation has proven to be a significant thought process for the innovation-driven growth (Christensen, Raynor & McDonald 2015). It is regarded as a guiding star for small to large enterprises. Disruptive innovations are technological breakthroughs that impose pressure on companies to radically rethink their presence in the market. Though emerged as insignificant elements with limited interests, they are capable of overturning the existing products in the market. However, the major issue is that these technologies fail to create an explosive market initially as they emerge prematurely (Economist 2009). One such disruptive innovation technology that is taking the globe by storm is 3D printing.
3D printing is transforming the process in which products are designed, manufactured and distributed across various industries (Cox 2016). Through reduction in overhead costs especially labour wages, enhanced efficiency, speedy process and the utilization of different materials and techniques to generate a final output are making 3D printing as an attractive capital investment for companies. Due to its ability to design unique items, it assists in proving the mechanism adopted in creation and building a specific product (Mooney 2017). With improvements in speed and product quality, it has become a major contender for traditional methods. While the course of raw materials that can be converted increase, the products designed are expected to increase. Further, the availability of hardware and software are highly likely to impact the corporations. 3D printing has already proven is ability for time and cost savings and with the success of companies installing it, the adoption rate is set to increase reflecting the growing interests in different possible usages.
Background of 3D Printing
3D printing has evolved considerably over the last 20 years and so as the innovations resulting from the growth in it. It is often noted that experts tend to make predictions about the ensuing industry disruptions. For instance, in 1977, Ken Olsen commented why an individual would buy a home-based computer which was solely based on the technology at that specific point and he failed to anticipate its future growth (Deloitte 2012). This is applicable to various industries which have possible benefits with the use of 3D printing technology such as the automotive, manufacturing, aviation, medical, do-it-yourself and jewelry industries. The possible innovative outcomes of 3D printing are diverse, dynamic and disruptive, and many industries are expected to adopt it considering its effectiveness and improved efficiency over the years.
3D printing is accessible globally as consumers have begun to use it across the product design for diverse range of industries. This has resulted in industry disruptions arising from additive manufacturing resulting the emergence of new business and failure or stagnation of well-established enterprises (PwC 2017). Companies required strategic foresight to navigate across such disruptions to profit and succeed. Despite being in the development stages, the capabilities of 3D printers have expanded exponentially. Its opportunities in various industries range from urethane, metal, human tissue and even food products.