Week 6 - Assignment

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University Of Arizona *

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639

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Business

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May 30, 2024

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1 Innovative Technology Solution Proposal Alina Zargaryan The University of Arizona Global Campus BUS 639: Technology & Innovation Dr. Salvatore Ferraro May 20, 2024

2 Executive Summary DargeanGrix is a reputable international venture capital firm specializing in product development markets, with an average annual income of $250 million over the last seven years. Building solid and warm relationships with prospective and existing clients is critical to their success. The firm relies significantly on video conferencing and telepresence technologies to have global meetings with new entrepreneurial enterprises and manage its portfolio of current entrepreneurial clients (University of Arizona Global Campus, n.d.). However, there is a growing sense of dissatisfaction among employees with present video conferencing systems. Customers are increasingly dissatisfied with DargeanGrix's technical concerns, jeopardizing the company's image. Fostering connections inside the firm increases employee cooperation and productivity, which DargeanGrix is aggressively seeking. As technology advances, many organizations, like DargeanGrix, are building methods to reduce local and international travel costs and enhance their bottom line. Using Teams will allow the company to replicate in-person interactions effectively, promote transparent communication, cultivate connections, and foster a strong camaraderie among team members (O’Sjea, 2024). This technology can also contribute to reducing stress and saving costs related to domestic and international travel. In addition, with the implementation of this new program, DargeanGrix will achieve seamless connectivity with all company locations, both locally and internationally (Ashford University, n.d.). This proposal is designed to convince that the innovation is beneficial to DargeanGrix, its employees, and its customers by presenting a balanced view of the problem and discuss the benefits for each stakeholder in the endeavor.

3 Problem Summary At DargeanGrix, developing intangible assets has been critical to gaining and retaining a competitive edge. Three important intangible expenses pose considerable difficulties to the company's future performance and stability. These include managing the company's reputation, addressing employee unhappiness, and promoting wellbeing, all of which are linked to overall productivity and corporate culture. 1. Company’s Reputation: DargeanGrix has built an excellent reputation by regularly delivering products and services that satisfy market demands. Over the last seven years, it has generated a fantastic average yearly revenue of $250 million (Ashford University, n.d.). A company's intangible yet important reputation is primarily shaped by how its consumers perceive and interact with its goods. DargeanGrix's success is built on strong relationships with clients and prospects. These connections are important because they develop trust and loyalty, allowing the firm to assist consumers in meeting their financial goals. However, any emergent concerns, such as the recently reported technological frustrations, have the potential to erode this carefully constructed confidence. Addressing these challenges is critical to the integrity of DargeanGrix's service delivery, the company's reputation, and the intangible rewards of excellent customer relationships. If left untreated, these issues might worsen, causing unhappiness and eroding consumer trust, affecting the company's financial performance and competitiveness in the marketplace (Bondar et al., 2023). 2. Employee Dissatisfaction: DargeanGrix Inc., faces particular issues with employee unhappiness due to its reliance on virtual communications. DargeanGrix's technology is designed to imitate face-to-face encounters to promote open communication, establish

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4 connections, and encourage camaraderie among team members. However, the inability to fully duplicate in-person subtleties and emotional relationships via digital means might result in a lack of deep involvement and happiness among workers. First, insufficient emotional involvement can result in diminished employee motivation and productivity, which are essential drivers of the company's inventive output and overall success. Second, more virtual engagement might be necessary to form solid interpersonal ties and trust among team members, both of which are required for collaborative success in a venture capital business. Employee turnover may also rise due to isolation or detachment, which increases recruiting and training expenses and affects productivity and team dynamics. DargeanGrix could look at methods to improve virtual interactions or include more personal engagement in its operational architecture to address these difficulties (Kumar, 2024). Addressing these components of employee unhappiness is critical to the workforce's well-being and motivation and to preserving the firm's intangible assets that contribute to its reputation and success in the competitive venture capital market. 3. Employee Wellness: DargeanGrix acknowledges the critical role that well-being and connectedness play in creating a productive work environment, which is why the firm seeks to improve its wellness program. Despite the advantages of lower travel expenses and better process efficiency, DargeanGrix's existing technical setup for conferences and meetings has proven inadequate, resulting in substantial employee unhappiness and discontent. Intangible costs connected with technology failures include lower staff morale and productivity, increased turnover, and poor internal cooperation. These issues might hurt the company's operational efficiency and, eventually, its bottom line. Intangible assets, while not physical, deliver demonstrable economic advantages such as increased

5 revenue, cost savings, and improved market visibility. DargeanGrix's existing technology needs to capitalize on these potential advantages, resulting in a reduction in staff well- being and productivity. DargeanGrix may address these difficulties by modernizing its technology infrastructure, resulting in a more satisfied and efficient staff (Team, 2024). Improved technology would not only alleviate the annoyance caused by insufficient systems but also improve the quality of communication and cooperation within the business. Such changes will result in immediate economic advantages such as more significant revenues from higher productivity and personnel efficiency, cost savings from lower attrition, and a more decisive competitive edge via better execution and employee engagement. Addressing these concerns through a streamlined wellness program involving an extensive technological revamp is critical for DargeanGrix to preserve its competitive position and recruit and retain top people. Addressing these intangibles properly is critical for DargeanGrix to improve internal operations and employee happiness and maintain its market position, assuring long-term development and success in the competitive world of venture capitalism. Intangible Costs of the Problem DargeanGrix must overcome major obstacles of tangible and intangible expenses to preserve its place in the market and guarantee its long-term viability. These costs show a complicated relationship between the business's activities and overarching strategic objectives. DargeanGrix's financial breakdown identifies actual expenditures such as 250 staff wages, maintenance of 10 offices in 10 states, upkeep of two abroad sites, video conferencing technologies, and operational travel expenses (Ashford University, n.d.). These charges are easy to track and directly impact the company's financial statements. For example, staff wages, which

6 total around $11,000,000 annually, account for 11.81% of total expenses, suggesting a significant investment in human capital (Figure 1). Operational expenditures for managing office buildings and travel charges total $8,000,000 annually, highlighting the company's significant physical infrastructure and transportation costs. While more challenging to define, intangible costs account for a significant amount of DargeanGrix's spending, including business reputation, employee unhappiness, and wellness program investments. These intangible costs make for a significant 71.96% of total expenses (Figure 1). The company's reputation alone, worth $37,000,000 per year, demonstrates the significance placed on maintaining a good brand image, which is critical for customer trust and market competitiveness (Figure 1). Employee unhappiness costs the organization around $13,500,000, demonstrating the financial effect of attrition, lost productivity, and recruitment— areas that are directly related to employee morale and engagement (Figure 1). Furthermore, the wellness program, which costs $16,500,000, demonstrates the company's commitment to improving employee health and morale, which is critical for long-term retention and productivity (Figure 1). Figure 1 : Table with Approximate costs Associated with Each Elements DargeanGrix Costs Dollar Amount (Yearly) Percentage of Total Cost Intangible Costs Company Reputation $ 37,000,000.00 39.74% Employee Dissatisfaction $ 13,500,000.00 14.50% Wellness Program $ 16,500,000.00 17.72% Tangible Costs 250 Employees' Salaries $ 11,000,000.00 11.81% 10 Offices in 10 States $ 6,000,000.00 6.44% 2 Overseas Locations $ 1,100,000.00 1.18% Video Conference Tools $ 14,000.00 0.02% Operational Costs - Travel $ 8,000,000.00 8.59%

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7 Total $ 93,114,000.00 100% Notes: Each element in this table corresponds to intangible and tangible costs. Furthermore, DargeanGrix's strategic focus on creating a sustainable work environment and maintaining a robust market presence is evident through its significant investment in intangible assets like company reputation and employee satisfaction. Despite their lack of physical presence, the company derives significant value from these intangible assets. They significantly improve the company's capacity to generate revenue by fostering stronger brand loyalty and effectively managing intellectual property (Goldstein, 2023). For instance, strong brand recognition attracts customers and enables businesses to command premium pricing, directly impacting revenue streams. The significant investment in these intangible costs highlights their crucial role in the company's strategic goals, including attracting and retaining top talent, establishing customer loyalty, and promoting innovation through solid intellectual property (Goldstein, 2023). Considering these factors, DargeanGrix must maintain a delicate equilibrium between its tangible and intangible investments. This will ensure a thriving work environment and sustain its competitive edge. If these costs are not properly managed, they could have negative consequences such as lower employee morale, decreased customer satisfaction, and a potential decline in market value. Therefore, it is essential for DargeanGrix to effectively manage both tangible and intangible assets in order to sustain growth and profitability in a competitive market. Proposed Solution DargeanGrix's strategic choice to implement Microsoft Teams aims to optimize tangible and intangible assets, ultimately improving the company's overall operational health and

8 productivity. The actual expenses of this program include the initial investment in Microsoft Teams software, including license fees, resources set aside for staff training on the new system, and changes to current technology to assure interoperability with the new software. The organization may incur intangible expenses such as temporary decreases in production. At the same time, staff adjust to the new system and the requirement for continuing maintenance, which may include frequent upgrades and troubleshooting. There are significant benefits to deploying Microsoft Teams. Tangible advantages include a considerable reduction in the annual $8 million spent on travel since virtual meetings eliminate the need for actual travel (Figure 1). Intangible advantages include improved video conferencing quality and dependability, which is predicted to raise employee morale, minimize attrition, and lower associated rehiring and training expenses (Keen, 2003). Improved communication and collaboration tools are projected to improve the company's reputation for dependability and responsiveness, increasing customer satisfaction and retention. Using Microsoft Teams will build a more robust company culture through enhanced communication that resembles face-to-face conversations, which is critical for preserving essential client connections. This strategic investment in Microsoft Teams will not only handle present operational difficulties. However, it will also strengthen DargeanGrix's position as a leader in innovation, employee happiness, and client interactions, boosting the company's development trajectory and consolidating its competitive position. Table 1: Visual Representation of Cost-Benefit Analysis Cost/Benefit Categories Description Financial Impact Tangible Costs Licensing, training, hardware upgrades Initial high investment, long-term savings Intangible Costs Transition disruption, maintenance Manageable with proper planning

9 Tangible Benefits Travel cost reduction, operational efficiency Significant annual savings Intangible Benefits Employee satisfaction, enhanced reputation, cultural enhancement Improved productivity, customer retention, and employee morale Notes: Each element in this table corresponds to intangible and tangible costs and benefits. DargeanGrix has successfully integrated Microsoft Teams into its operations, effectively addressing its technological shortcomings. The platform now provides a robust solution for communication within the organization. This transition addresses the practical challenges of operational inefficiency and high travel expenses while promoting ethical and socially responsible business practices (Bocean, et al., 2022). The decrease in travel requirements not only helps to save on operational expenses but also plays a role in reducing the environmental impact of frequent business trips, thus promoting sustainability. In addition, Microsoft Teams offers a range of features that improve accessibility, including subtitles and language translation, which help create an inclusive environment in a diverse workplace (Table 1). In addition, the new system helps alleviate the stress caused by inefficient technology and excessive travel, which aligns with the company's commitment to its wellness program. This highlights the importance of prioritizing employee health and creating a nurturing and long-lasting work environment, showcasing DargeanGrix's dedication to fostering a supportive and sustainable workplace. The proposed investment in Microsoft Teams is a strategic move by DargeanGrix to solidify its position as a frontrunner in innovation, employee satisfaction, and client relations (Table 1). It goes beyond addressing operational challenges and reflects a proactive approach towards maintaining leadership. This strategy will help the company achieve its growth goals and enhance its competitive position in the market, ensuring long-term sustainability and success.

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10 Rationale As DargeanGrix's advocate for Microsoft Teams deployment, I will proactively ensure a smooth and valuable transition for the entire organization. My leadership strategy is based on involvement, education, and exemplification. I will aggressively involve key stakeholders from various departments during the planning and implementation phases, considering their perspectives and needs. This collaborative approach will increase buy-in and allow employees to use the new technologies effectively. To fully realize the benefits of Microsoft Teams, I will oversee a comprehensive training program covering all of its functions, improving corporate communication and cooperation. The "Microsoft Teams Essentials" subscription, priced at $6.00 per user per month, is the most excellent fit for our requirements, including unlimited group meetings, enough cloud storage, and strong security features (Table 1). Given our size, this expenditure is justified by its significant operational benefits, such as lower travel and operational costs and improved remote collaboration capabilities. Through this strategic deployment, we will improve our internal processes and prepare DargeanGrix for long-term success in an increasingly digital corporate context.

11 Table 1: Cost of Implementing Microsoft Teams Citation: Microsft Teams. (n.d.). Compare pricing and plans for online business options: Microsoft Teams. Compare Pricing and Plans for Online Business Options. The answer has significant implications for the corporation, its clients, and the larger community. DargeanGrix's implementation of Microsoft Teams will improve communication and reduce downtime, resulting in higher production and lower operational expenses. Clients will have more constant and engaging interactions with our staff, resulting in better service delivery and more satisfaction due to dependable and various communication channels. Additionally, the community will benefit from our reduced carbon footprint due to less travel and our commitment to inclusive practices, backed by Microsoft Teams' expanded accessibility features for disabled personnel. By advocating for these reforms, I want to drive internal improvements and strengthen DargeanGrix's position as a socially responsible and innovative venture capital market leader.

12 Summary Problem Summary: DargeanGrix has severe hurdles, including intangible expenses that might jeopardize the company's brand, employee happiness, and well-being. These issues come from insufficient technology infrastructure, which impedes efficient communication and cooperation, resulting in lower staff morale and productivity and potentially diminishing consumer trust and pleasure. The high cost of travel also increases operating expenditures, lowering the company's profitability. Cost-Benefit Analysis Summary: The practical benefits include a significant decrease in the $8 million per year spent on travel, as virtual meetings via Microsoft Teams eliminate the need for actual travel. Intangible benefits include increased employee morale, reduced turnover, and decreased rehiring and training expenses. Improved communication tools will also help the company's image for dependability and responsiveness, boosting client retention and satisfaction. These enhancements will strengthen the corporate culture and increase the company's competitiveness in the venture capital market. Ethical and Social Responsibility Summary: DargeanGrix's transition to Microsoft Teams reflects its dedication to upholding ethical and socially responsible practices. By reducing travel, not only can costs be cut, but the company can also positively impact the environment by lowering its carbon footprint, thus contributing to environmental sustainability. The platform's inclusive features, such as subtitles and language translation, create a more accessible and diverse workplace. In addition, the new system helps reduce stress caused by inefficient technology and excessive travel, which aligns with the company's commitment to employee health and well-being.

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13 Conclusion: The adoption of Microsoft Teams at DargeanGrix goes beyond being a mere technological upgrade. It is a strategic initiative to address current operational challenges and elevate the company's position as a leader in innovation, employee satisfaction, and client relations. This proposal effectively tackles the pressing issues of communication improvement and cost reduction while also playing a vital role in supporting the company's growth and strengthening its market position. It recognizes the importance of enhancing intangible assets like company reputation and employee wellness. This proactive approach is anticipated to secure long-term benefits for DargeanGrix, ensuring its ongoing success and sustainability in the competitive venture capital market.

14 References Bocean, C. G., Nicolescu, M. M., Cazacu, M., & Dumitriu, S. (2022). The Role of Social Responsibility and Ethics in Employees' Wellbeing . International journal of environmental research and public health , 19 (14), 8838. Bondar, M., Buckley, N., Corduneanu, R., & Levin, D. (2023, November 6). How enterprise capabilities influence customer trust and behavior . Deloitte Insights. Forbes Insights & Dell EMC. (2017). IT transformation: Success hinges on CIO/CFO collaboration . [Report]. Forbes Insights. Goldstein, R. (2023, August 9). Everything You Need to Know About Using Intellectual Property to Increase Your Company Valuation. Goldstein Patent Law | Patent and Trademark Experts for Individuals, Start-ups and Entrepreneurs. Keen, J. (2003, September 1). Intangible benefits can play key role in business case . CIO . Kumar, A. (2024, January 9). how virtual team building activities are beneficial. Resources Library. Microsft Teams. (n.d.). Compare pricing and plans for online business options: Microsoft Teams. Compare Pricing and Plans for Online Business Options. Orlando, J. (2018, April 26). Getting the CIO/CFO relationship right . IndustryWeek. O'Shea, H. (2024, May 8). 3 ways to craft a culture of collaboration in remote work models. HR Executive.

15 Team, U. D. (2024, February 9). How to Modernize Workforce Technology to Stay Competitive - Business IT Services In Johnson City. Business IT Services in Johnson City. University of Arizona Global Campus. (n.d.). DargeanGrix business scenario. Canvas@UAGC.

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