...That is, the learning will include both listening, watching and doing. It would probably be a good idea to arrange with your other group members to participate in the online lecture together; that will ensure that there is somebody else that you know completing the online exercises at the same time that you will be. Furthermore, what you will also find is that the lecture does use a lot of what is covered in the textbook; so it may be a good idea to have the textbook open as you go through this online lecture. I hope that you find these online lectures engaging and that there is a positive learning outcome by participating. Start of Online Lecture on Innovation and Change . Overview A good starting point for this online lecture should be to understand that we have a fair way to go in terms of really knowing what innovation is and how it provides...
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...management is key to longevity and sustainability of an organisation. In the context of Read Construction Holdings Ltd (the writer’s organisation), there are significant changes currently underway – a new business plan targeting significant growth over 3 years, new directors and ownership and a marketing strategy targeting increasingly large complex projects of a Design and Build nature. To achieve this, some form of change is required and much of this change may come through innovation. This assignment will distinguish between product, process and organisational innovation and discuss which is likely to be the most important for the growth of Read Construction Holdings over the next three years. In order to distinguish between the different types of innovation, the essay will begin by setting out a clear definition of innovation. The main discussion will go on to discuss limitations, barriers and enablers of innovation and how that might impact on the organisation, summarising which type is likely to be the most important for the business in support of its goals, the essay will also evaluate the potential for consecutive innovative approaches and what limitations and barriers / enablers may be encountered. What is Innovation? In defining innovation, it is important to clearly differentiate between innovation and invention. Fagerberg (2004) suggests that invention is the first occurrence of an idea...
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...Problem Solution Best Snacks, Inc is a 150 year old company that has been held publicly for more than 100 years. Although the company has enjoyed many years of success, it has recently failed sustain its success due to the lack of innovation and creativity over the last 5 years. In today’s business environment innovation is necessary to sustain success and is an integral part of the business model. The ability to learn faster, better, and more cheaply than the competitor can mean the difference between maintaining market leadership and barely surviving (Davila, Epstein& Shelton, 2006). To regain its long held standing as a leader in the snack industry Best Snack, Inc must implement a plan that focuses on creating a culture that cultivates innovation, developing management systems that are aligned with the new strategy, and creating a new product line that will bring the company back to the forefront in the snack industry. Describe the Situation Issue and Opportunity Identification Best Snacks, Inc has been a leader in the snack industry for many years. As the snack industry began to change to meet the demands of a consumer market that is more health conscious, Best Snacks has failed to meet the challenge. Best Snacks has been slow to adapt to change and stray away from its tried-and-true research, development, and marketing activities (University of Phoenix, 2006). The complacency of Best Snacks, Inc has caused it to have falling sales and stock prices. Successful organizations...
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...Manage the innovation process Describe the practices and routines that an organisation can implement to help manage the innovation process and, in so doing, maximise the probability of success in innovation. In global market with shortening product life cycles for example when the life of some models of mobile phones or computer is just few months.(Tidd 1997) In Kucrmarshi (2003) opinion innovation could generate new way to extend profit margins if it successful and could became very powerful competitive weapon. Innovation in nowadays is the most important competitive advantage for a company. The future of many businesses depends on their ability to innovate, to be ahead of their competitors. Organisations have to go through a process of practice, mistakes and to bring together different knowledge, skills and ideas to manage innovation process to success.( Tidd and Bessant 2010) This essay will try to describe the practice and routines that any organisation can follow to achieve success in the innovation process. Definition of innovation The word innovation comes from the Latin word “innovare”, which means “to make something new” (Tidd and Bessant 2010). Innovation is a deceptive thing. People usually relate it to a development of a new or better product or process, but it is only one part of process called innovation (Trott 2008). Porter,M., 1990 defined “...approach innovation in its broadest sense, including both new technologies and new way of doing things...
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...Marketing and Innovation, the same fate. Sandor Luis Miranda. Student Number: 20145716003 ABSTRAC In this paper a literature review on the development of the innovation process in the course of the years and the importance of SMEs for the same is made. Turn reference to the relevance of the innovation process presented in the marketing strategy of companies to succeed in an increasingly dynamic, demanding and competitive market is. The article also different classifications of innovation are explained according to their degree of implementation, degree origin effect of innovation and its origin, as well as generations or models that have characterized the process of innovation over time. Key words: Innovation, Marketing, Management INTRODUCTION. In an era of globalization and high competitiveness of products, as it is in the changing world of marketing you need to be alert to the demands and expectations of the market, it is vitally important innovation factor. Competitiveness and the need to innovate to continue and grow in the current and future market are concepts used daily in many institutions. The marketing of innovation is a novel approach to technology management to solve the problem of linking research, technological development and the world of new business efficiently. Innovation and marketing are, in competitive markets today, two fundamental tools for business differentiation. Two tools capable of supporting a company as a market leader. The...
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...Importance of Innovation has been discussed for decades and continues to be the most talked about management issue these days. Today, knowledge in all its forms plays a crucial role in economic processes. Organizations with more knowledge systematically outperform those with less. Within the knowledge-based economy, innovation is seen to play a central role. It was believed that an enterprise can maintain competitive advantage through quality and price. However, the research at the Ernst Young Centre for Business Innovation (CBI) has revealed that innovation isone of the most valuable differentiator for sustainable competitive advantage. Firms innovate to defend their competitive position as well as to seek competitive advantage. Innovation is at the heart of economic change. In Schumpeter’s words, “radical” innovations shape big changes in the world, whereas “incremental” innovations fill in the process of change continuously. Innovation is the motor of the modern economy, turning ideas and knowledge into products and services. 1 Apple, Google, 3M, Toyota, Microsoft, GE, and P&G were the most innovative companies in the year 2006 as per the annual list of the world’s 25 innovative firms. Innovation has been mostly discussed related to technology, product and processes. It has been argued that product and process innovation are not the main bottleneck to progress. The bottleneck is management innovation. But what is management innovation? Why is it so important? And how...
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...definition of orgazational change is ‘new ways of organizing and working’ it is the process of moving from some current state to some future state that, whether planned or unplanned, compromises the unexpected and unforeseen as well as the expected. Questions like how does useful innovation happen in an organization or how do you encourage innovation are the questions faced by many organizations in today’s economy. Rather than survive as organization, there is a new strategy to survive which innovation; innovating knowledge sharing and creating within the organisation. Introduction I’m going to discuss how innovation can be used to support knowledge sharing/creation and learning in an organization. Businesses emphasize knowledge management for a number of reasons, one is to encourage innovation. Bessant and Tidd (2007;29) summarise innovation as ‘ the process of translating ideas into useful - and used - new products, processes and services’. Innovation can take many forms but these can largely be reduced to four dimensions of production innovation, process innovation, position innovation and paradigm innovation. They view innovation as a process involving the generation of innovation possibilities, Andriopoulos and Dawson (2009;28). Processes of Business Businesses are continually changing to achieve competitive advantage through innovation and productivity improvements; as a result ways to design and change processes are becoming increasingly...
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...LEVELS OF CORPORATE PLANNING AND INNOVATION Name: Institution: Date: Executive Summary One student in an Executive MBA class based his response on introduction of a self scanner in checkout terminals in a British supermarket to an assignment that required them to link a significant innovation that an organisation had introduced with strategic change in the organisation. The student failed the assignment. This report will examine the reasons why the student failed by looking at the differences between strategic, tactical and operational planning. The report analyses what causes the strategic changes in an organisation and what qualifies as strategic change. The report also discusses innovation and the different levels of innovation. This report also discusses whether the student was right to classify self-scanner checkout terminals as a significant innovation that could be linked to strategic change in the organisation. Table of Contents Executive Summary 2 1 Introduction 4 1.1 Business Policy 4 1.2 Strategic Change 4 2 Strategic, Tactical and Operational Planning 5 2.1 Statement of the Objective 5 2.2 Differences between Strategic, Tactical and Operational Planning 5 3 Innovation 8 3.1 What is Innovation? 8 3.2 Impact of innovation on growth strategies 10 4 Conclusion 11 Introduction This report will identify reasons the student failed his assignment...
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...Summary for “Targeting innovation and implications for capability development” Francis, D., & Bessant, J. (2005). Targeting innovation and implications for capability development. Technovation, 25, pp.171-183. In the introduction, the authors point out the important role of innovation in organizations and argue that innovative organizations generally possess innovation capability which can be managed. The authors then discuss in detail the four types of innovation capability (4Ps framework) and the challenges they may bring. Cases are cited to illustrate how those enterprises managed innovation capability and cope with challenges. The 4Ps framework works well in ‘steady state’ context, under which the aim of enterprise is ‘do better’. However, when discontinuity comes into play, the ‘do better’ innovation strategy is not sufficient as demonstrated by the fact that incumbent firms tend to be outperformed and thus displaced by new entrepreneurial players. Therefore, a ‘do different’ innovation strategy must be pursued by enterprises who want to explore ‘outside the box’. The authors develop an ‘innovation agenda’ covering the entire spread of 4Ps in two dimensions, ‘do better’ and ‘do different’. Managers are encouraged to specify their innovation agenda in the form of diamond diagram, including all possible innovation activities. The 4Ps model was tested through a preliminary study in an effort to assess whether this model provided a useful heuristic device capable of being...
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...Managing Change and Innovation Geronimo L. Jamisola II MBE-TEP PLM Learning Objectives At the end of this presentation, you should be able to answer the following questions: • What factors create the need for change? • Is change a continual or occasional process ? • How do organizations manage change and resistance to change? • What are some current issues in managing change? • How to make change successful? • What is innovation and how does it occur in organizations? • How do organizations stimulate innovation? What is Organizational Change? • Organizational Change – Any alterations in the people, structure, or technology of an organization • Characteristics of Change – Is constant yet varies in degree and direction – Produces uncertainty yet is not completely unpredictable – Creates both threats and opportunities • Managing change is an integral part of every manager’s job Forces For Change • External forces – Changing consumer needs and wants – New Governmental laws and regulations – Changing Technology – Labour markets shifts – Economic and social changes • Internal Forces – New organizational strategy – Change in composition of Workforce – New equipment – Changing Employee attitudes – Compensation and benefits Two Views of the Change Process • The Calm Waters Metaphor – Kurt Lewin: Change is a break in the organization’s equilibrium state. 3 Step Change Process (see exhibit 1): • Unfreezing the status quo • Changing to a new state • Refreezing to make the change permanent...
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...Innovation is a hot topic in modern society (Bessant and Tidd, 2007). Bessant and Tidd (2007) defines innovation as the process of translation new ideas into useful practice and use them, like new products, processes and services. Many studies about innovation management have been done and theories about innovation are various, like theories about different types of innovation, the process of innovation, and assessment tools of innovation capability and so on. There are many different types of innovation, but traditional research on innovation has been focused on product or process innovation (Peterson, 1972; Brown, 1995). Tidd and Bessant (2009) presents a model of the innovation process with four phases: generate new ideas, select the best one, implement and capture the benefit. Innovation has become more and more important and is discussed by researchers, policy-makers and companies on a daily basis. The governments mention the topic about innovation increasingly and frequently (Swedish Government, 2008). Different authors defines innovation differently and classifies innovation in various types. The Austrian economist Joseph Schumpeter (1934), a pioneer of innovation management, described innovation as “creative destruction”- a new association of production factors and production conditions. Schumpeter defined innovation from five aspects: The introduction of a new goods – which customers are not familiar yet, or a new quality of a goods. The introduction of a...
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...025-1065 The firm’s operational capability and innovation: Comparative studies of innovative firms from the south of Brazil. PAULO ANTÔNIO ZAWISLAK Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil paz@ea.ufrgs.br ANTÔNIO DOMINGOS PADULA Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil apadula@ea.ufrgs.br LÁZARO SUMBA QUIMI Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil lsumba@hotmail.com CAROLINE PRATES Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil carol.prates@ibest.com.br POMS 23rd Annual Conference Chicago, Illinois, U.S.A. April 20 to April 23, 2011 The firm’s operational capability and innovation: Comparative studies of innovative firms from the south of Brazil. Abstract: In emergent economies, firm’s innovation is often a survival issue. This research is focused on the operational capability concept and it is intended to explain, in a comprehensive way, how this capability matters and supports innovation. This paper analyzes firms, which working under standard technology...
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...The Innovation Process Learning Team A OI/361 July 2, 2012 The Innovation Process Nokia’s cellular phone battery problem requires a creative innovative approach to problem-solving. Innovation is a process organizations engage to gain a competitive advantage. The following discussion focuses on the innovative process. Discussion begins by indentifying each of the four steps of the innovation process. Steps include generating new ideas, researching new ideas, development of a product or service, and distribution, or delivery of products or services. Additionally, this portion of the discussion will focus on the application of the innovation process as it pertains to Nokia’s cellular phone battery problem. The discussion concludes with identification of appropriate tools for use regarding the four-step process and an explanation for their selection. Also, the discussion concludes with a focus on measuring results, monitoring, and controlling to ensure continual improvement. Innovations Process The four basic phases of the innovative process are generating, conceptualizing, optimizing and implementing. Innovation begins with generating. This phase is where brainstorming leads to viable solutions for customers. Generating can also entail some designing and modeling. Conceptualizing is the phase in which ideas accepted from the generating phase are passed along to research and development. Ideas are designed and tested in this phase along with planning the product development...
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...The main alternative energy sources to fossil fuel are biofuels which have received much attention worldwide and they have already generated 45% of all energy from natural fuels in Brazil.(Sims & Taylor, 2008) The most widely used biofuel is the first generation biofuel which is make from plants like sugarcane, oilseed. By using these kinds plants, ethanol and oil can be produced.(Ahmad, Mat Yasin, Derek, & Lim, 2011) In this essay, innovations in biofuels will be divided into 3 sectors with examples illustrated. 2. The Innovation Dimension 3.1 Innovation Type Innovation can be divided into four types: production innovation, process innovation, position innovation and paradigm innovation. (Tidd, Bessant, & Pavitt, 2005)In the biofuel sector, product innovation and process innovation are widely used. Product innovations are changes in the products which an organization offers. Process innovations are changes in the ways in which they are created and delivered. 3.2.1 Product Innovation Product innovations take place when the market requires new features of the established product. (Tidd, Bessant, & Pavitt, 2005)For example, first generation biofuel has been used as vehicle energy source for decades and become mature. However, it was not able to apply in the aircraft engine. New regulations were made...
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...DEVELOPING INDIVIDUAL INNOVATION Entrepreneurship Imagination & Creativity: Imagination and Creativity goes hand by hand i.e. with out imagination you cannot be creativity. This combination is the key to success for entrepreneurs. Potential entrepreneurs always analyze from every possible angle. What is the problem? Whom does it affect? How does it affect them? What costs are involved? This is the type of analysis that blends creative thinking with systematic analysis. The Role of Creativity: Creativity is generation of idea that results in improved efficiency or effectiveness of a system. Two important aspects of creativity exist: process and people. Process: it is goal oriented and designs to attain a solution of a problem. People: they are resource who determines the solution. Table 5.1 shows two approaches for distinguishing innovative entrepreneur from adaptive entrepreneurs and found their application very effective. The Nature Of the creative process: Creativity is the process that can be developed and improved. Many people incorrectly believe that only a genius can be creative, but it is not like that. It’s the negative phrases prohibit people from thinking further. Negative phrases are shown in table 5.2. There are four steps in creativity process Step 1: Background and knowledge accumulation: Successful creations are generally preceded by investigation and information gathering. This people investigate in both related...
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