...1 McKinsey Global Survey Results McKinsey Global Survey Results: Assessing innovation metrics Assessing innovation metrics A recent McKinsey Global Survey shows that companies are satisfied, overall, with their use of metrics to assess innovation portfolios—though many findings suggest that they shouldn’t be. The companies that get the highest returns from innovation do use metrics well; these organizations tend to assess innovation more comprehensively than the others. Even in the current economic turmoil, innovation remains a high strategic priority for most companies, and many see it as a strong contributor to growth. Yet many also struggle to measure the performance of their innovation portfolios. In a recent McKinsey Global Survey,1 we asked senior executives which types of innovations their companies pursue, which ones they measure and with what metrics, what goals they have in using metrics, and how satisfied they are with the metrics they choose. Companies reporting the highest contribution to growth from their innovation projects tend to be more interested in pursuing and measuring their innovations as a portfolio and therefore use metrics across the whole innovation process. In the end, they are more satisfied than others with the ability of such metrics to help their organizations do everything from aligning individual performance incentives to improving innovation performance to communicating with investors. 1 Conducted in October 2008, the survey had...
Words: 2767 - Pages: 12
...Analysis of Leaders in Innovation March 17, 2014 Introduction In today’s ever changing global economy, even the most innovative organizations constantly have to reshape themselves, in order to maintain their positions as industry leaders. In reshaping their organizations, leaders must have the ability to drive innovation and help their organizations to become even more innovative then they are. As global trends emerge, they influence the need for organizations to innovate in order to have a competitive advantage and be successful. When we examine the case of HCL Technologies (HCLT), it is evident that the former CEO, Vineet Nayar, planned and executed a clever strategy to turn around the company’s fate from a suffering IT service provider to an industry leader. This paper will analyze Nayar’s leadership behaviors and skills; and how he applied these to combat the global trends affecting HCLT and create a more innovative organization. In assessing Nayar’s discovery skills in his innovation leadership, opportunities will also be evaluated for ways in which Nayar can improve these skills in support of leading HCLT further in innovation. Global Trends Affecting HCLT Overall, Nayar’s success story with HCLT comes from his ability to drive innovation and transform HCLT into a more innovative organization, despite the global adversities that the company faced. In his article, Nayar (2010) tells us that HCLT’s revenues were growing by about 30% a year when he became...
Words: 2358 - Pages: 10
...Department of Technology Management and Innovation MG 7953 Global Innovation Fall 2014 Professor: Tom Helling Saturday @ 1:30-6:00 pm (see dates of class per session dates below) Contact Details: th930@nyu.edu 917-593-0946 (mobile) Course Description: This course focuses on the global dimension of technology-enabled innovation. Topics covered include: motivation for a global business outlook, how to proactively access global sources of innovation, coordination and organization of innovation-oriented activities around the world, new product development on a global basis, the role of revitalized global R&D, the growing of prominence of IT, virtual organizations and e-Business, and the increasing role of alliances and linkages with customers, suppliers, and other third parties. Course Structure: This course introduces the latest and most relevant thinking, research and best practices, with an emphasis on learning based on the experiences of actual firms around the world. Individual and team-based project work is an important part of this course. We will be discussing a number of research papers, case studies and relevant reading material during this course. Class interaction is vital to understanding many of the central themes and issues in the area of global innovation. Textbooks: Reverse Innovation, Govindarajan and Trimble, 2012 ISBN-10: 1422157644 ISBN-13: 978-1422157640 The Innovator’s Dilemma, Christensen, 2011 ISBN-10: 0062060244...
Words: 1966 - Pages: 8
...locations in 57 countries ("Johnson and Johnson Company Structure", 2011). In JNJ’s century plus experience and business operations, adjusting and adapting the functions of management to meet operational goals and public demands is a testament to their longevity. From their worldwide expansion, innovations in healthcare, business ethics, contributions to technology, to their community diversity, JNJ provides a “How to Succeed in Business” guide for others to follow. Internal and external factors involved in technology affect management’s efficiency in planning, organizing, leading and controlling. The new advances in technology have provided new production techniques and new ways to manage and communicate such as telecommuting and robotic manufacturing. The technology of computers has increased productivity and performance. Management is able to watch and learn what the competitors are doing and improve the efficiency in decision making. There are also threats involved with technology when ensuring the most up to date technology and developments are used. Johnson and Johnson’s management uses technology daily for effective use of the four functions. The organization has a number of advantages being broadly based. Johnson & Johnson uses insights about technology around the world for marketing insights and manufacturing expertise. The broad base has helped bring...
Words: 1943 - Pages: 8
...Personal Definition of Innovation Innovation has a different meaning to different people. Innovation in simple terms as I see it is creativity and problem solving. Thinking outside the normal realm of everyday life whether as an individual or an organization. Innovation is about addressing issues and challenges and brainstorming for new ways to grow as individuals. Innovation takes chaos and turns it into order. Creativity is a thought in our minds and taking that thought and improving on something that already exist or an idea of something new. Invention is taking that creative idea and put it into form that can be used. Innovation is taking this idea or product/idea to the market. Creativity consultant Joyce Wycoff (1991) defines creativity as "new and useful". Creativity is the act of "seeing things that everyone around us sees while making connections that no one else has made." (p. 22). Inventions are new to the world, never seen before or to put it into a better perspective, to discover something new. Nevertheless, innovation is about changing or improving something or some would say ideas to improve the quality of life or business. For example, the phone was an invention where cell phones are an innovation. In some form, creativity, invention and innovation work together to bring the idea/product to life. With the changes that have taken place over the last century, Organization has had to face the realization that in order to move...
Words: 1149 - Pages: 5
...Analysis of Leaders in Innovation Leading Innovation in the Global Organization Dr. Jane Gibson Capella University Timyra L. Carter November 10, 2015 Introduction A global trend is a general development or change in a situation that affects many countries of the world. Innovation is a creative idea, process or product. The two together are a powerful team. Without one or the other a company is likely to fail. Global trends provides direction for a company and affects the company’s strategic plans for the future goals. The purpose of this paper is to analyze and identify the global trends that influenced the need for Vineet Nayar, former CEO of HCL Technology, to create a more innovative organization, explain the relationship between the global trends and Nayar’s role as a leader of innovation, evaluate Nayar’s use of the five discovery skills and make recommendations for improvement of Nayar’s use of the five discovery skills. When Nayer was appointed as president of the Delhi-based IT services provider HCL Technologies he had many challenges. Even though HCL Technologies revenue was growing by 30% a year, it was losing market share and mindshare and its competitors were growing at the rate of 40% or 50% a year (Nayar, 2010). The IT service industry was changing rapidly, customers didn’t want to work with an undifferentiated service provider that offered discrete service; they wanted long term partners that would provide end to end services (Nayer, 2010). Within four years Nayar...
Words: 2224 - Pages: 9
...successful CEO of HLC technologies. The analysis will highlight the skills and behaviors of this leader and others and how they prepare their organizations to be more innovative. Not only will this paper highlight the global trends that influenced Nayar to create a new, innovative organization, but also will use the model of assessment that will be used is based on the five discovery skills from the “DNA Disruptive Innovators” of Dyer, J. H., Gregersen, H. B., & Christensen, C. M. (2011) Innovator’s DNA, how did Nayar use these discovery skills to create an innovative organization and what recommendations that Nayar can use to support and encourage an innovative organization. When one thinks of innovation, it is a term used to described new ideas and new beginnings. One who introduced this concept to a failing organization, was an innovative leader named Vineet Nayar. In 2007, Nayar was named CEO of IT Services and Outsourcing Firm HLC Technologies. With his strategic vision and global outlook, he catapulted the then dismal firm into the leader of the organizational pack in a short amount of time. First, this analysis will take a deep look into the strategic vision and global outlook that Nayar used to catapult HLC Technologies. Also, the analysis will introduce the five discovery skills and how Nayar used these skills to create this organization and what steps he needs to take to continue shaping HLC into a more innovative company. In the beginning of Nayar's 2010 article "A Maverick...
Words: 1713 - Pages: 7
...MBA 6006 Leading Innovation in the Global Organization Analysis of Leaders in Innovation November 9, 2014 Introduction A leader is known as someone that people follow and guides and directs others. Having a leader within an organization is extremely important for an organization to function. Not only is it important to have a leader within an organization but it is also vital that a leader understands the importance of innovation within an organization. The primary goal for most companies is to be successful. Success is usually measured by the growth of a company or organization but how does a company reach growth? A companies’ success would be almost impossible without innovation. In addition to innovation it is also important for companies to recognize global trends when devising a strategy for innovation. This paper will discuss the global trends related to the Nayar article to create a more innovative organization as it relates to the five discovery skills. It will also discuss recommendations for improvement of the use of the discovery skills. Influence of Global Trends In the article “A Maverick CEO explains how he persuaded his team to look into the future”, Nayar was appointed president of the Delphi based IT services provider HCL technologies. When Nayar was appointed he knew that he had some challenges ahead of him. There were some challenges that the global economy was experiencing at that time and he had to find a way to make the company successful despite...
Words: 1937 - Pages: 8
...McDonald's is a global company that faces many challenges that the management team must overcome to achieve continued success. Internal and external factors affect how management plan, control, organize, lead their teams to deliver their brand of excellence. Globalization, technology, innovation, diversity, and ethics are management areas that are affected by both internal and external factors. Commitment and leadership is very important when getting involved with the global market in addition it should also come from the owners and stockholders including the managers. The international training should accessible during the hiring process or the employee should already have this knowledge of the company. By having the employees with international knowledge of the company this will give McDonald's the opportunity to be in high demand in other countries. Many positive outcomes result from going global which include the willingness to go into a partnership with businesses in other countries, the strength the company will gain, and the flexibility the company will have. The negative outcome to going global would be the limited knowledge that an employee may have about the business, and the adjustment one would have to make to assimilate in another country and their culture. This would be a major change for a business to adjust to a different culture and the way they operate. And by doing business with another country they would have to change how they do operate within the company...
Words: 1380 - Pages: 6
...Name: Instructor: Course: Date: Management, Innovation and Organizational Performance Introduction Innovation is central to the understanding of how organizations sustain themselves over a certain period of time. This is because innovation enables organizations to create or generate new and multiple products and services. The process of innovation among organizations is to develop the basis of assessing creativity among organizations. More so, it enables managers to identify measures aimed at improving or changing organizational operations and functions. Through management innovation, new measures to plan, organize, coordinate, lead, and motivate the organization are identified. This can lead to achievement and sustenance of a competitive advantage in the industry. This is because principles of innovation involve creating long-lasting advantageous processes producing dramatic shifts in the competitive position. Global organizations therefore rely on innovation to systematically reinvent functions and operations being undertaken to enhance speed, effectiveness, and efficiency leading to a long business life (Alice 3). Organizations are referred to as open systems due to various reasons. Foremost, organizations are developed in order to produce new products and services regularly and successfully without facing barriers. As a result, they are referred to as open systems as they can determine market needs and technological capabilities to apply to ensure the products...
Words: 2842 - Pages: 12
...Table of Contents Global Networks and Innovation of Unilever Company 3 1. Introduction 3 2. Internationalization strategy 3 3. Visualization and interpretation of the parent-subsidiary network 4 3.1 Betweenness Centrality 5 3.1 Density of Network 7 3.3 Degree Centrality 8 4. Analysis of the organization’s Network 8 4.1 Locational aspects 8 4.2 Activity aspects 9 4.3 Size aspects 9 5. Implications for the innovation strategy of Unilever 9 5.1 Meeting consumer needs 10 5.2 Introduction of new products 10 5.3 Sustainable Innovation 11 6. Conclusion 11 References 12 Global Networks and Innovation of Unilever Company 1. Introduction Unilever is one of the best companies with its headquarters in London, UK that focus on the wellbeing and health of people by providing products such as affordable soaps, ice creams, household care products and luxurious shampoos (Weingardt, 2007). Unilever has been recognized as a leading provider of brands such as Omo, Knorr, Lipton, Hellmann’s and other trusted local names such as Suave, Pureit, and Blue band. The company has presence all over the world and increased sales gave accounted to increased turnover that hit €53.3 billion in 2015. There are more than 172,000 workers who work for Unilever, and the company has been selected as number one as the fast-moving consumer goods employer, according to the selection of students in 26 countries (Wolf, 2011). 2. Internationalization strategy Unilever...
Words: 2565 - Pages: 11
...------------------------------------------------- Innovation From Wikipedia, the free encyclopedia For other uses, see Innovation (disambiguation). Innovation is a new idea, device or process.[1] Innovation can be viewed as the application of better solutions that meet new requirements, inarticulated needs, or existing market needs.[2] This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and, as a consequence, new, that "breaks into" the market or society.[3] While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis innovation is generally considered to be a process that brings together various novel ideas in a way that they have an impact on society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. Contents [hide] * 1 Inter-disciplinary views * 1.1 Business and economics * 1.2 Organizations * 1.3 Sources of innovation * 1.4 Goals/failures * 1.5 Diffusion of innovation * 2 Measures * 2.1 Organizational...
Words: 5808 - Pages: 24
...process of changing organizational culture is a long-term and difficult process. There is an undeniable resistance to change the former way to the new and evolving way of doing business. As businesses continue to expand in the global markets, it will require a strong leadership commitment to change the vision of what the goal of change will be in order to sustain continuous innovation. In the excerpt of Vineet Nayar’s, “Recasting the Role of CEO: Transferring the Responsibility for Change. How Leaders Tap the Creative Energy of Employees”, it demonstrates the concept that if management can remove itself and allow employees to lead that the collaboration process will lead to continuous and sustaining innovation. This assessment will explore the transformation that Nayar implemented within HCLT to change the organizational structure, culture, and processes to support and sustain innovation in the changing global markets. Recasting the Role of CEO is as it states is the role reversal change that Nayar implemented to change the organizational structure of thinking within his organization. From that trend he developed and equally important initiative call Employee First Councils which evolve from EPIC. As Nayar points out he saw that his organization would need to rethink the role of CEO and to transfer much more responsibility for change to the employee (Nayar 2). By reversing the role of CEO the goal was to rejuvenate the management within HCLT. This innovative and practical...
Words: 1272 - Pages: 6
...Purpose HCL Technologies provide a range of outsourcing services, business process outsourcing, and infrastructure services. The purpose of this paper is analyze trends and economic forces that impact changes in the global marketplace, analyze the impact of market trends in driving innovations in organizational, structure, culture, and process, and also to analyze leadership in relation to the effectiveness of general management planning and decision making. Majority of my information will come from HCL Technologies case study with Nayar’s insights about the subject. Analyze trends and economic forces that impact changes in the global marketplace. The product that HCL Technologies sells is a service that customers use to make their business better. Staying with the latest trends is very critical in a service based business like HCL Technologies. The first trend I would like to talk about is Technology trends. Technology trends can drive innovation and influence decision making in the IT service industry. According to Hickman (2010)" Developments in technology lead to new products and services and improve how they are produced and delivered to the end user. Innovations can create entirely new industries and alter the boundaries of existing industries." A future trend that will spread rapidly in the IT industry will be Cloud Computing. There will soon be away a business can obtain and maintain software, hardware, and computing capacity. According to the Nayar Case study...
Words: 1539 - Pages: 7
...The organization that was chosen for this project was Proctor and Gamble. This paper will touch on the global outlooks and strategies in which the CEO A.G. Lafley used. Lafley used these processes in conjunction with the five skills of discovery to promote growth within the company and to increase sales. This paper will discuss the different models that could be used to encourage innovation within Proctor and Gamble that will help innovative leaders in their roles and responsibilities. Lastly, this paper will also discuss how the information discussed correlates with the five skills of discovery. The leader’s actions will then be assessed and scored on how well they implemented change and shaped a culture that is more innovative in their organization. Supportive Leadership Model There is one model in particular that could be chosen to help increase the progression in the Proctor and Gamble organization. The Transformational leadership model could have been a great assesst in the development of new ideas in Proctor and Gamble. Proctor and Gamble first used the “closed innovation” model and then switched to the “open innovation” model to create growth within their organization. According to Venkatesh & Devi (2006), In 2003 Alan Lafley developed the “Connect and Development” model to generate ideas from scientist, engineers, and enterpauners and individuals outside the company. P&G already had some strong models in place to help with the change within their organization. The...
Words: 1356 - Pages: 6
