Designing Innovative Products for the Future Research Paper

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APPLY AND ASSESS REPORT Apply and Assess IntroductionResearch OutcomesOutcome Statement. As a result of researching the cause of Hewlett-Packard’s loss of revenue, the researcher will supply a guide for the company to use to ensure that it can once again be competitive in the tech industry and once again produce revolutionary, innovative new products that are in demand by consumers and that can thus effectively increase the company’s revenue.Research Question. What led to HP’s loss of revenue and how can it reverse this trend?Research Hypothesis. It is hypothesized that by getting away from its core founding principles and values, HP engaged on a losing path. By returning to its core founding principles—namely a focus on innovation—HP will be able to strengthen its brand and become dominant in the industry once more, leading it to increasing sales of in-demand products and thus increase of revenue.Research DesignThe type of research conducted was a descriptive study of the variables that led to HP’s loss of revenue in the first place from the start of the 21st century, when the company was eclipsed by Apple and Microsoft, till now when HP is trying to right itself and get back lost revenue. The descriptive study approach is most appropriate as it provides a suitable means of collecting data to analyze and identify themes and issues that can help to describe the reasons for HP’s loss of revenue (Houghton, Murphy, Shaw & Casey, 2015). De Massis and Kotler (2014) point out that a descriptive study “should be adopted when the aim of the research is to convince someone” of a phenomenon’s basic characteristics (p. 16). Since the goal of this research was to identify the basic characteristics of HP’s loss of revenue and compare them to the characteristics of HP’s earlier years when its revenue was much higher, descriptive study is a logical approach.Review of the LiteratureOutsourcing and Bad AcquisitionsHP began turning over its talent and labor to workers in other parts of the world (Mourdoukoutas, 2014). As a result of HP’s outsourcing, much of its manufacturing went to other countries, and more than half of its production was done overseas by the early 21st century (Bandler & Burke, 2012). This caused big problems for worker morale in the States as no one was quite sure whose job was safe and where the next relocations would occur. There was no incentive to commit oneself to the company and no long-term vision. A revolving door of CEOs with murky led the way to HP’s decline as outsourcing and bad acquisitions continued for years (Woolley, 2010). The company tried to buy its way into relevance again with strategic acquisitions that proved costly and ineffective. HP made a number of unwise acquisitions in an effort to be relevant in the tech sector. However, the company was looking backwards instead of forwards. By purchasing Compaq, Palm and Autonomy in 2001, 2010 and 2011 respectively (at substantial cost to the company), HP thought it would be able to scale in the PC, mobile phone, and software markets (Bandler & Burke, 2012).Falling Behind CompetitorsHP was constantly having to play catch-up with its competitors (Kalb, 2012a). Even when it had the opportunity to invest in a new idea, HP let the idea get away—as was the case with Apple’s Wozniack who offered his new PC ideas to HP 5 times before linking up with Jobs at Apple and going on to produce some of the most dynamic, ground-breaking equipment in the tech world (Ong, 2010).Competitors like Apple, IBM, Oracle, Microsoft and Amazon were arriving on the scene with new products that were changing…

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…you agree with this statement? HP is the best brand in the business.

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a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree10. To what extent do you agree with this statement? HP is the most innovative tech company in the market.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree11. To what extent do you agree with this statement? HP effectively uses social media to alert its base about great new products year round.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree12. To what extent do you agree with this statement? HP’s brand image is viewed favorably by my peers.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly AgreeCost.13. To what extent do you agree with this statement? HP offers great innovation at low cost to the consumer.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree14. To what extent do you agree with this statement? HP’s prices are very competitive.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree15. To what extent do you agree with this statement? HP products are very affordable.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree16. To what extent do you agree with this statement? HP’s prices often beat competitors’.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly AgreePromises.17. To what extent do you agree with this statement? HP has kept its promises regarding product releases.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree18. To what extent do you agree with this statement? I expect HP to continue to deliver quality innovative products in the future.a. 1—Strongly Disagreeb. 2—Disagreec. 3—Neither Agree Nor Disagreed. 4—Agreee. 5—Strongly Agree19. How likely would you be to buy only HP products from here on out?a. 1—Not Likelyb. 2—Somewhat Likelyc. 3—Likelyd. 4—Very Likelye. 5—Always20. How often do you buy….....

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