The first step of the model is entrepreneurial goals and context Before

The first step of the model is entrepreneurial goals

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The first step of the model is entrepreneurial goals and context. Before investing in technology, technology needs to be compatible with the goals and contexts of the organization ( Bessant and Tidd, 2007 p.6) . At Chelsea and Westminster NHS Trust, the staff and services provided put the patients first and are also determined to develop. The characteristics of the patients served by the NHS Trust require critical care due to their age and chronic conditions. Since the facility puts its patients first, implementing the Neuralink BMI technology would be
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INNOVATION AND ENTREPRENEURSHIP 7 vital to improving the care of the patients in a critical state. The Trust is also determined to develop and therefore, adopting the Neuralink BMI technology would be a big step in improving its services to care for the patients. The second step in this model is recognizing the opportunity. NHS Trusts cannot implement new technologies if there is no opportunity for new technology to be utilized. Nuralink BMI innovation will be more useful to patients with neurosurgical problems and those who are very old. The Trust reports that there have been more admissions in the emergency room, which may be resulting from poor care of the patients from their homes. Therefore, there is an opportunity for the Chelsea and Westminster NHS Trust to implement BMI to improve health the patients. This would reduce admissions in the hospital. The third step in this entrepreneurship model is finding resources. Every innovation may be costly, and therefore, an organization needs to have adequate resources to successfully implement an innovation ( Bessant and Tidd, 2007 p.7) . Chelsea and Westminster NHS Trust have enough resources as it had a profit of $9.9 million for the fiscal year of 2018/2019. This resulted in an adjusted surplus of $40.4 million, which means that the facility can invest in BMI technology. However, incentives and additional financing will be required to supplement the Trust's resources. The fourth step in this model is developing the venture. In order to develop the BMI venture, the Trust should outline its main goal, values, key indicators of performance, and find a market that would allow for implementation of the BMI technology. The development of a
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INNOVATION AND ENTREPRENEURSHIP 8 venture would ensure that Chelsea and Westminster NHS Trust follows a certain procedure in implementing and applying the technology. Therefore, there would be no case of the venture failing to deliver the desired results. The last step is creating value. Any innovation implemented with a health system should add value to the services offered to the patients ( Bessant and Tidd, 2007 p.7) . Based on the characteristics of Chelsea and Westminster NHS Trust population, deploying the Neuralink BMI technology would create value to the services offered by the Trust as the patients would be able to obtain improved care by controlling robotic arms using their thoughts. Question 3 Personalization policies require health care provided to focus on the outcomes of the services they offer instead of the number of patients attended. Since 2007, it has been the government policy to transform social and health care in the United Kingdom ( Slasberg, Watson, Beresford and Schofield, 2014 p. 184). The move has seen the UK government develop health
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  • Fall '19
  • NHS trust, Westminster NHS Trust

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