...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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...ability to involve business groups throughout the planning process, while maintaining integration of the processes from within things like their corporate planning schedule, Intel’s plans should rapidly change within the market, and staying abreast of the technology curve while simultaneously achieving the largest returns conceivable on every initiative and areas of focus. Intel’s has shown us a strong desire to maintain accomplishments in the production of the fastest and most powerful CPU’s in the industry. An effective approach to Intel retaining these goals would be for Intel to know exact what strategy is effective to manages strategic planning. Intel’s strategic planning process should be able to address long-term direction for IT leaders and develop strategies that address future goals and objectives. Furthermore, the integration of Intel’s strategic planning calendar with the corporate planning cycle will ensure that Intel will preserve the synchronicity of these aspects with the company’s planned direction. Also, the collaboration and consolidation of Intel’s experts and ideas garnered from all Intel IT will convey numerous viewpoints in an efficient way. Similarly, quick responses to variances in the market with evaluations and strategic plan adjustments will help to ensure that Intel will always stay abreast in the market. Intel’s strategic plan should be integrated with Intel’s IT Management System to ensure that the planning, decision making, and Intel’s evaluation techniques...
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...Incremental Innovation in Technology, Advantages and Disadvantages. Introduction: The objective of this paper is to examine the techniques related to incremental technological innovation in light of its advantages and disadvantages. Many studies focus on techniques of speeding up the cycle of product design. However, the fastest and most effective way to speed up the introduction of a product is to execute an incremental improvement – to an existing produce - that could serve a new and particular need. On the other side of the spectrum, there is what is called the megaproject. A project that starts out with over-the-top ambitious objectives, it requires almost extraordinary effort to accomplish, it demands enormous financial budgets, it typically runs over time and misses many deadlines, and at the end, few examples make a splash and many are written as “tax deductions”. While these heroic projects make good news stories, they do not always make money. They can fail very dramatically and expensively. Since these failures do not make such good new stories, we hear less about them, and overestimate the success rate of megaprojects. We underestimate the importance and value of incremental programs and mislead ourselves about the true risk of the megaproject. We need to look more carefully at these two approaches. Therefore, the opinion expressed here is that the incremental innovators are in fact the unsung heroes of product development. In examining the advantages...
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...Leadership Supporting Innovation in Organizations Introduction Leaders come in all shapes and sizes; this is evident from the many varieties of leaders in many different organizations. Whenever there is a crisis, all leaders have to step up and become innovative thinkers in order to successfully achieve the goals set forth. But there are some leadership practices that support and foster innovation within organizations. “Among the factors that influence employees’ creative behaviors and performance, leadership has been identified by many researchers as being one of the most, if not the most important” (Jung, Chow, & Wu, 2003, p. 526). Leaders have the ability to affect an employees’ creativity by catering to their needs and motivation, and by setting up an organizational culture and environment that will allow for employees to attempt different methods of thinking and speaking up with ideas or concepts without fear of being punished. (Jung, Chow, & Wu, 2003, p. 526) Leadership Practices Supporting Innovation A few key practices particular, in my opinion, spurs innovation, including leading people, strategic planning, participative management, and change management. A final leadership practice – transformational leadership – is an essential practice in supporting innovation in organizations. Leaders who can effectively lead their members ensures that members are motivated and develops an environment that supports innovation. “Leaders who have good skills...
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...TL 038 INNOVATION PROJECT MANAGEMENT: A RESEARCH AGENDA SERGEY FILIPPOV; HERMAN MOOI DELFT UNIVERSITY OF TECHNOLOGY, DEPARTMENT OF INNOVATION SYSTEMS RESEARCHER AT DELFT CENTRE FOR PROJECT MANAGEMENT (THE NETHERLANDS) Abstract th Originally developed in the mid-20 century, project management has become a distinctive way to manage business activities nowadays. Another important development is virtually universal recognition of the role of innovation and technology in the corporate change, growth and profitability. It is unsurprising that development of innovation is often run as a project. Yet, theoretically both project management and innovation studies have evolved over time as distinctively separate disciplines. In this paper we make an attempt to conceptualise the innovation project management and to specify the idiosyncratic nature of innovation projects as opposed to conventional projects. By doing so, we contribute to the nascent academic debate on the interplay between innovation and project management. Key words: project management, innovation, technology 1. Introduction This paper is concerned with three topics and the interplay between them, namely “Innovation”, “Research and Development (R&D)” and “Project Management”. The interest in these topics has exploded recently as they emerged both on the policy agenda and in the corporate strategies. The contribution of technological innovation to national economic growth has been well established in...
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...Summary Jordan Cohen, a senior director at the global pharmaceuticals company Pfizer, realized that a lot of skilled employee time was in effect “wasted” on routine tasks such as using Excel and PowerPoint and doing basic research. The PfizerWorks team managed to do what many consider an impossibility to devise a successful innovation from the bottom up in a big company. It was possible because Mr. Cohen already had years of experience in the company, so he could understand and navigate general company politics. Lone, obsessive geniuses may do well in a garage start-up but, in big companies, to make innovation happen, the manager first needs to embrace both the corporate machine and the people in it. On a personal level, Mr Cohen had a keen grasp of his shortcomings and knew when to recruit different thinkers for his team. He understood the iterative nature of the innovation process, accepting that nothing is perfect in the beginning. As a result, while Mr Cohen did run some personal risks in undertaking such a project in this way, he minimized the risks through a careful management of the various stakeholders and created his dream job as head of PfizerWorks. Discussion question 1. Pfizer is the world’s largest research-based pharmaceuticals firm and also a well known Pharmaceutical company. So their most of the work depends on research, developing Strategies and innovate. They were trying to find a new way of system...
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...and to some extend, it is a process of wealth accumulation under capitalism. (Karl, 1848&1857&1863) In the long run, it would result into a high rise of service and products quality, a progress in the humanity society. However, if focusing on the individual unit, creative destruction is a challenge. Those who do not play well, like because of lacking skills or technology, will be eliminated out of the game. In the following sections, this paper is going to illustrate the importance of innovation strategy in this game from the enterprise perspective, how could innovation strategy fit the strategic planning well, and how big data could work for the strategic planning process. 1 Innovation Strategy As defined, innovation strategy is a plan conducted by the organization to encourage advancement in technology or service. (Businessdictionary.com) Innovative technology is the soul of the business, which differentiates the firm from the others and brings profits to stakeholders. However, innovation does not equal product development. Product...
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...Globalization Starbucks is a global company. Globalization affects the four functions of management in many ways. Being that it is a global company there must be more use of the functions. It must be done on a larger scale than with a smaller company. The different sites have to communicate on the plans of action. It could affect the functions negatively , in that there are so many sites that need to be considered when planning. It could be hard to get all of the management team onboard at the same time., Technology Starbucks has always been on top of it in regards to technology. They are one of the first coffee places to offer free wi-fi. They are known for being an upscale coffee spot. This is where technology comes into play. Starbucks has to be on top of the technology scene being that they are a worldwide company. The functions can be affected by this fact. For the company to stay as successful as it is, they need to stay up to date with the latest technology. If it has the most up to date technology then it can interact with the stores with efficiency. Innovation Innovation parallels with technology. If the management team at starbucks is trying to get more innovative. They need to make sure they have younger management teams. The younger generations are able to think “outside of the box”. The younger generation is more up to date on the new technologies that are coming out. They have graduated recently so they know what the younger people are interested in. This can affect...
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...NEW PRODUCT INNOVATION No. 9 in a Series of Papers Reference Paper by: Teresa Jurgens-Kowal PhD, PE, NPDP Global NP Solutions 2323 Clear Lake City Blvd., #180 Suite 177 Houston, TX 77062 PHONE: 281-280-8717 FAX: 281-280-8689 www.globalnpsolutions.com page 1 © Copyright 2010 Global NP Solutions, LLC changes in the market or technology environments. In this paper, we present four idealized case studies, representing one view of innovation strategy types. These were first described by Raymond Miles and Charles Snow in 1978 Miles & Snow’s structures, response characterization and to in changes (1) THE ENTREPENEURIAL PROBLEM As with any strategy assessment, a choice must be made regarding the market arena, the technology, and the products or services to be offered. Miles & Snow identify this as “The In short, how . Despite the intervening thirty or so years, of in management management’s particular Entrepreneurial Problem.” should the company manage share? it market technology or markets, remains as a dominant theory for Innovation Strategy. Many other papers have evaluated Miles & Snow strategy typologies (2) (3) (4) , yet few In NPD terms, we would say that The Entrepreneurial Problem should be addressed is Stages 1 and 2, or the Fuzzy Front End, such that we have identified a clear and present market need for our new product, service, or program. authors have specifically address how each would approach and implement the...
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...maintain their competitive advantage they have to become innovative, creativive and design their own products. These are three important compatants for a company to keep their competitive advantage and to be profitable in their markets. Innovation Innovation is a vital concept it can have many meanings depending on who is defining the process. Creativity and implementation are the two components of innovation. Inventors uses the creative process to construct an idea, the implementation process is used to bring the idea to reality. The three components of the implementation stage are idea selection and development. The implementation process also consist of creativity ,the idea is devised is implemented as part of the creative process. When planning the implementation process it must be planned clearly step by step from the beginning to the end. Design Design is defined in many different ways all of the well known dictionaries contain a wide range of definitions. "It is a concept of realization or configuration of an idea or plan, model, drawings; pattern that assists to develop and achieve the items designated objectives (Business Dictionary, 2010)"."Creativity is what results in different approaches to services, goods, and innovation (Business Dictionary 2010)". Design is important to companies when deciding on new products and what will be developed. According to Von Stamm design "is the conscious decision making process by which information as an idea is transformed...
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...Leadership Practices That Support Innovation in Organizations Leslie’s (2009) white paper discusses twenty leadership practices and how they support innovation currently and how they will in the future support innovation. After reading some of the other classmate’s U1D2, I realized that there were a lot more important leadership skills that were not mentioned that are vital to support innovation in an organization. The skills I feel are valuable are employee development skills, leading people, inspiring commitment and strategic planning. All four are somewhat similar in the aspect that their purposes are merely for some type of employee stimulus. According to Leslie (2009) employee development is coaching and encouraging employees to develop in their career. As Spender and Strong explain, innovative ideas come from employees. “They come from the people who daily fight the company's battles, who serve the customers, explore new markets and fend off the competition (Spender & Strong, 2010)”. Although every employee may not have the best discovery skills they can develop them with the right leader behind the wheel to guide them. Like I mentioned in my U1D2 post, There is no way to lead and create innovation without the employees having complete understanding of how to be innovative. Leading people is directing and motivating employees. Some people need to be pulled and pushed into the right direction in order to stimulate their mind. Leading people into thinking differently...
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...Innovation Planning: Corning Case-Study Reviewing Corning internal processes demonstrate the internal capabilities the firm continuously developed to enhance its innovation process, in terms of planning, implementation and ultimately delivering on innovative products. Innovation by definition is crucially important in these dynamic and rapid changing markets. However, continuous and sustainable innovation remains difficult to most organizations. In all practical terms, it is clear that a huge reliance in consistent innovation depends upon the creative capacity of individuals to come up with new ideas that is compelling and implementable. A second aspect is the ability of organizations to organize and institutionalize the innovation process, from a managerial and technical ways. Since 1908, the firm recognized the need for Research and Development as a way for not just survival of the firm, but as a mean to prosper and dominate its target markets. Starting the R&D as early as the nineteenth century in Silicon Valley enabled the firm to build upon its proven expertise in glass industry to today’s innovative products in fiber optics and flat screens. The firm had adopted internal policies that boost its innovative capabilities supported by commitment to invest 10% of the firm revenues in R&D, and hiring of world experts to its R&D division. Innovation is intrinsically risky. A firm could invest money and efforts, to generate, discover, and build up new ideas into innovations...
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...S COLOPLAST A/S — ORGANIZATIONAL CHALLENGES IN OFFSHORING w 9B08M031 Ivey Management Services prohibits any form of reproduction, storage or transmittal without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Management Services, c/o Richard Ivey School of Business, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail cases@ivey.uwo.ca. Copyright © 2008, Ivey Management Services Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F240103 Version: (A) 2008-06-24 INTRODUCTION Director Allan Rasmussen took a good deal of pride in the achievements of Coloplast A/S1 (Coloplast) in Tatabánya, Hungary. In consecutive quarters in 2004, the plant had outperformed the company’s longer established Danish production units in quality levels (see Exhibit 1). Rasmussen had been the Tatabánya plant’s manager, its first, since 2001. Just three and a half years later, he was responsible for the daily management of a plant with a head count of 550 and production valued at 1.5 billion Danish kroner (DKK). In 2005, he resumed his position as director of Coloplast’s Danish subsidiary and returned to Denmark. With the Hungarian operation, Coloplast had learned important lessons in designing and implementing...
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...function as an inseparable part in the context of economic development since their close involvement in the processes of manufacture, trading and profit generation. However, it also appears that the term entrepreneurship is not easy to understand although this subject seems similar to the term of entrepreneur. Based on this background, this essay will first fully analyze the principal subject of entrepreneurship reflecting various economists’ perspectives, and secondly illustrate the relationship between entrepreneurship and innovation, before suggesting that in general, entrepreneurship is closely linked with innovation and they are both significant elements in the development of economy. Furthermore, this essay will also illustrate that creativity and problem solving are effective capabilities in entrepreneurial processes of business planning and decision making in the realization of innovation. To understand the relationship between entrepreneurship, innovation and economic development, it is crucial and necessary to analyze the keywords in this statement. First of all, what is entrepreneurship? In fact, despite the potential that every individual may take a mutual view directly on the term of entrepreneurship, there is no fixed definition of this term. As is noted by Baumol (1968: 64), the concept of entrepreneurship is in fact obscure and it is not often the case that, this term can be defined explicitly in the theoretical scope. Traced back to the early history in economic context...
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...the value of certain technology for the organization. Continuous development of technology is valuable as long as there is a value for the customer and therefore the technology management function in an organization should be able to argue when to invest on technology development and when to withdraw. Technology Management can also be defined as the integrated planning, design, optimization, operation and control of technological products, processes and services, a better definition would be the management of the use of technology for human advantage. The Association of Technology, Management, and Applied Engineering defines Technology Management as the field concerned with the supervision of personnel across the technical spectrum and a wide variety of complex technological systems. Technology Management programs typically include instruction in production and operations management, project management, computer applications, quality control, safety and health issues, statistics, and general management principles.[1] Perhaps the most authoritative input to our understanding of technology is the diffusion of innovations theory developed in the first half of the twentieth century. It...
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