...main approach to ensure innovation is successful is to develop an internal marketplace. Internal Market Place: where the ideas and functions of innovation can flourish in a supply-and-demand environment. Then, the true commercial value of every idea is reflected in the management attention and funding it receives. How: 1. Internal marketplaces weigh, select and prioritize innovations for their creative and inherent commercial value and worth. 2. Management funds only the projects that they perceive have great commercial value. Organisation Cycle: 1. Introduction (Start-up Companies): Creative Market. Bias toward creativity, creativity is usually bigger than value creation processes, which is a problem since value capture helps companies develop faster, better, and cheaper deliveries. They usually focus on radical innovation. 2. Growth and maturity: Balancing creative and value capture, they need adequate measurement systems to avoid bias. Mixed portfolio of incremental, semiradical, radical innovations. 3. Greater Maturity (decline): Commercial Market. Strong commercial yet weak creative functions, they just do incremental innovation. A lot of successful innovations fail because they never find a marketplace where innovative ideas can flourish and the company can recognize and support their value. Five steps to balancing creative and commercial markets: 1. Develop innovation platforms for different types of innovation you...
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...Innovation allows for a new idea or creation of a new product or service. In my line of work, a new process or system can be innovative in which we improve a way to better manage student records therefore improving the quality of work and time efficiency. expected and use different avenues for improving a process or product. Design “Good design is about looking at everyday things with new eyes and working out how they can be made better. It is about challenging existing technology” (Stamm, 2003). This could get confusing as it sounds much like creativity and innovation. an architect, to create a design for a new product or a new service. Creativity To be creative is to be able to see things from a different perspective. It is like looking through a special lens and being able to see beyond what is in front of you Differences and Similarities In comparing Creativity, Design and Innovation, it is easy to confuse each of these ideas because they are so similar. They all deal with a new way of looking at an idea however; designing is done with a purpose or an intent to do something with that idea. Creativity is to think outside of the box and view things in a different light. Creativity challenges a person to seek a certain level of uniqueness in their way of thinking based on an idea. Innovation differs from both in the sense that this is where the idea begins. Innovation calls for something new and different. Conclusion Creativity, design and innovation...
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...Promoting and Maintaining Innovation NAME University of Phoenix OI/361 Innovation, Design, and Creativity for a Competitive Advantage Promoting and Maintaining Innovation Innovation is a combination of creativity, to come up with ideas, and implementation, putting those ideas into practice. Implementation is a three step process: idea selection, development, and commercialization (Von Stamm, 2003). Innovation is required in order for an organization to grow and remain ahead of the competition. Organizations use motivational tools to promote innovation in the workplace. This paper will evaluate the roles these motivational tools play in promoting innovation and the leadership required to maintain innovation in an organization. Roles of Motivational Tools To promote innovation, organizations use incentives, training, and education to motivate employees. Incentives come in the form of monetary rewards such as a bonus and non-monetary rewards such as a reserved parking space. Incentives attract employee’s attention and motivate them to work harder. Employees in the sales department tend to work harder knowing that at the end of the quarter there will a bonus based on the amount of revenue they generated. Training and education have the same overall result. They both provide knowledge to employees in their area of work thus helping them be better at their job. Training however is more specialized than education. Some organizations...
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...Innovation, as a significant competitive advantage to gain profits in the complicated competition, is valued highly in knowledge-intensive organizations. Some former scholar simply regards innovation as the process of inventing new things (Barnett, 1953). Miller (1989) argues innovation is one of crucial elements of competitive strategy for organizations. In knowledge-based organizations, the definition of innovation becomes abroad. It covers four stages: including discovering new ideas, identifying the strategic creativity, implementing useful creativity and maximizing the largest profits of useful creativity (Dundon, 2002). As a result, knowledge-based organizations invest a lot to facilitate innovation. Lee (2002) suggests that knowledge-based organizations are not able to compete in the current global markets without hiring flexible knowledge workers or applying latest information technology to management. Recently, with blindly investing in innovation, efficiency seems to be neglected by many organizations. Efficiency, not only refer to lower cost, but also how to use the existing knowledge, expertise and resource effectively. Without efficiency, organizations cannot plan all the working processes properly. Therefore, in order to survive, even gain profits, a firm cannot ignore either innovation or efficiency (Tushman & O’Reilly 1996). Nevertheless, it is not easy to achieve balance between the two aspects. In the following session, this paper will illustrate from four...
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...Making innovation work: How to manage it, Measure it, and Profit from it By Davila Epstein and Shelton Summary In this book the authors provide clearly defined methods and guidelines for creating and sustaining innovation strategies that best fit a specific company. The book covers a lot of topics about innovation from the management’s prospective. It starts from evaluation the innovation state of one company to how to design an innovation strategy while integrating /balancing innovations between technology and business model; it talks about how to manage innovation by fighting organizational antibodies (from bureaucracy to not-invented-here syndrome) and leverage technology to design innovation process; and finally it touches on how to measure and reward innovation using incentives, designing measures. Overall opinion My overall impression about this book is it is insightful as well as practical. I like the way how the authors explained innovation using matrices, tables, figures, cases instead of plain theories so that readers could use the tools to troubleshoot their company’s situation and relate real company cases to innovation and identify what needs to be improved to maximize value and profits. I also like the fact that this book looks beyond product, process innovation to address the business model innovation and the balance one company should find between innovating business model and technology. Something I do not quite like about the book it’s the cases selected...
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...management practices, and organizational culture to facilitate the changes needed to strengthen its position in the snack industry as a model of innovation and creativity. Describe the Situation Issue and Opportunity Identification Despite its huge success, Best Snacks is facing several major issues within the organization. One of the issues is compatibility of organizational structure and organizational culture. Another issue the company is growing rapidly, so change is inevitable in the near future. In this environment, a project manager plays a crucial role in initiating new ideas and processes and influencing employees to accept these changes. Thus, appropriate and superior leadership style is essential during the transition. If Best Snacks wants to be a constant presence in the industry, the company must address these issues. “Innovation is the process by which organizations use their resources and competences to develop new or improved goods and services or to develop new production and operating systems so that they can better respond to the needs of their customers” (Jones, 2004, p. 403). Because change requires innovation to be successful, Best Snacks must assess and restructure the company, allowing for the introduction of new processes, technologies, and services for the organizational to move toward this new strategy and way of business. Best Snacks must plan accordingly and establish the steps they must take in order for the new direction to be of any success...
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...Pimenta de Devotto, R. Adaption- Innovation Theory and Kirton Adaption-Innovation Inventory (KAI): contributions to collaborative problem solving. Rita Pimenta de Devotto “The process of collaborative problem solving needs to be better understood so that it can be applied more insightfully.” Kirton, 2003. SUMMARY This article aims to introduce Adaption-Innovation Theory (A-I) and the Kirton AdaptionInnovation Inventory (KAI) to readers not familiar with this subject. It will explain the origins of both, the theory and the psychometric instrument and give an overview of the core concepts of the theory. It will also discuss the contributions of A-I and KAI to management practice and explore its current use in organizations for improving team’s problem solving. Introduction In a world of complex and diverse problems, where change is constant, which is better: Adaption or Innovation? Following the current trend we probably should choose innovation betting it will solve most of the problems. However, accordingly to Kirton (2003), which is better depends on the problem-solving context. The current trend underplays adaption and ignores all creative solutions that come from “doing things better” (Kirton, 2003 p.55). Adaption-Innovation theory (A-I from now on) proposes that a diversity of problem solvers (“more adaptive” to “more innovative”) is required to solve a diversity of problems. Not only innovators are creative and capable of bring about change...
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...the market. In strategic aspects, technology acquires optimum performance from a company in a bid to attain superiority in the market. Discuss the role of innovation in the strategic management process. Innovation is an effective tool that offers value to an organization. In the commercial world, there is one thing that is persistent and constant; that is change. Therefore, this necessitates innovation, and creativity to serve as the backbone in organizations. These two principles are vital in every organization that aspires to remain a going concern in the market. A company that embraces innovation assures positive performance in the market as compared to its competitors. Innovation is a market positioning tool in the strategic placement of its products. This ensures a company is able to handle any changes the market will pose. The market is controlled by choice. The customers are those who determine how competitors react to the needs, and demands of the clients. If companies are innovative, they ensure they are prepared at all times through adequate planning. This reduces expenses in terms of risks. Innovation is the mode in which a company maintains its image in the market. A company like Apple Incorporation uses innovation and creativity as a way to brand itself different from Microsoft, and other companies. Innovation maintains the freshness, and the company’s competitive position in the market. Define...
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...TABLE OF CONTENTS: INTRODUCTION 1 1. CREATIVTY TOOLS, INNOVATION MANAGEMENT & FINANCIAL SERVICES 1 2. RBS INTRODUCTION 3 2.1 RBS Innovations 3 2.2 RBS Creativity Tools 4 3. SANTANDER INTRODUCTION 5 3.1 Santander Innovations 5 3.2 Santander Creativity Tools 6 4. SUGGESTIONS FOR FURTHER CRETIVITY TOOLS 6 FINDINGS AND CONCLUSIONS 8 REFERENCES 9 INTRODUCTION The aim of this report is to introduce the latest innovation end products and service and identify and describe creativity tools used by Royal Bank of Scotland (RBS) and by Banco Santander (Santander). Furthermore this report seeks to explain why the tools applied are useful for a particular organisation’s innovation management. This report will also suggest 2 additional creativity tools for each organisation and will also explain why these tools are useful. To achieve the above a short introduction about organisations will be provided and secondary research resources: companies’ websites, journals, books and articles will be used. 1. CREATIVTY TOOLS, INNOVATION MANAGEMENT & FINANCIAL SERVICES Creativity tools can be described as combinations of factors that can help to engender new ideas (Fig 1). Fig.1. Creativity tools in organisations Source Aurnhammer, 2013 There are different factors that can contribute to successful innovation in organisations. Fig.1 shows tools covering People, Methods and Platform combining to create the optimal conditions for the creation of innovative ideas and concepts...
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...University of Phoenix Material Creativity and Innovation Table Complete the following table by describing creativity, innovation, and the rules of innovation in your own words. Include the following in your response: a. One real-life management example of using creative intelligence b. One real-life management example of innovation c. List all of the rules of innovation and include at least one sentence describing each rule in your own words Format any references used in APA format. This assignment is due in Week One. |Creativity and Innovation | |Creative Intelligence |Describes an individual perspective or belief on how they see and understand the world also the | | |aspect of personality | |Innovation |New way or method of doing the same thing but different and better | |Rules of Innovation |“ 1. Exert strong leadership on the innovation strategy and | | |portfolio decisions. | | |Integrate innovation into the company’s basic business | | ...
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...talented Individuals and maintaining the current work culture environment with growing staff PremiumSoft is a company that provides Software solutions. Lin and Roy Choi primarily founded it as a Web design company in year 1999. However this web design company provided the seed money to grow it into a software development company. PremiumSoft’s main software solutions are “Navicat” and “ Navicoder”. Navicat was launched in 2001 as a database tool that manages and administers multiple databases across different operating systems like Linux, Windows, Mac OSX using a graphical user interface. (GUI). Whereas Navicoder was launched in 2009 as source code editor, compatible for windows. PremiumSoft is small scale organization comprising of 24 staff members. Its organizational structure is provided in appendix {1}. PremiumSoft work culture is based on trust and sense of belonging among employees, imparting a mix of “ Authoritative”, “Affiliative “ and teaching style of management and employee interaction, which results in high innovation and productivity in the organization. However with the expansion in staff this work culture may impose restrictions on company’s overall growth and productivity hence a stricter and more compelling employee workplace guidelines need to be incorporated. As for recruiting talented individuals and retaining them, Management primarily needs to extend its hiring process internationally attracting candidates from global talent pool followed by encouraging...
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...and creative entertainment company. Over the years, Disney has differentiated its products and its market segment. But, since 1995 the company has had trouble with a declining financial performance. This decline in profits will continue until Disney can return to their traditional creativity and innovations and try to recapture their original audience. By controlling cost, Disney drove away its creative talent. The new atmosphere at Disney is all about money, and it needs to be returned to a company based in creativity. 2. ------------------------------------------------- Analysis At the beginning, Disney was a company motivated by Creativity and innovative idea. They came in the market with original characters and innovative product like animated movie with soundtrack. The company was lead by its two creators. The first one, Walter Elias Disney was in charge of the creative and design part. His partner and brother Roy handled the money. At the beginning, the company was guide by creativity and innovation. They first came on the market with Mickey Mouse, the success was immediate and it became very quickly the most famous animated character in the world. Disney was driven mainly by creativity. How the different branches or parts of the company need to work with each other to create new ideas. At the beginning, Eliot was the main...
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...at finding new, more efficient, ways to conduct business. He is proficient at finding ways to improve Baderman Island Resort’s physical attributes to make them more aesthetically appealing as well as physically accessible. Phil’s innovative nature will also be a great asset when dealing with external organizations. Incorporating Phil Heard’s innovative attribute within the team will definitely have a positive on Baderman’s bottom line. After all, as stated by von Stamm, B. (2008), “Innovative organizations manage their existing business through structured and efficient processes…” Baderman Island Resorts is a beautiful location for business and pleasure. One of the most exciting goals of the company is the future expansion of the resort. As a member of the management team at Baderman, Robert brings great strengths to the management team of five. As an intuitive thinker, Robert brings the properties of resourcefulness, the emphasizing of hard work, achievement, hard work and the ability to find good answers quickly (Rowe, 2004). In a management test to evaluate the management and innovation team’s strengths, Robert scored a 56 which is eight points below the standard of 64. This indicated strong intuitive tendencies. The management team’s goals are to bring additional innovations to the organization. Roberts’s intuitive management strength is results oriented, and believes in experimentation to find logical, common sense answers to innovation problems. Robert has been with...
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...management, no more innovation, loss of sales.. SYMPTOMS | EXPLANATIONS | Innovation | A lack of innovation capabilities | Creativity | Employees and managers have not the reflex to be creative and take initiatives | Employee behavior, attitude | There are a lot of employees that are really against any changes | II. Root causes of problem We have to define the root causes of problem. These root causes of problem could be: motivation, “the wrong man in the wrong place”, leadership, injustice, team-work, corporate culture… CAUSES | explanations | Management | Managers doesn’t support enough the creativity, innovation, and the initiatives of their subordinates | Leadership | Not yet transformational CLD program very useful to change the behavior of the top management (so they are able to explain why the company has to change) | Employee performance evaluation | RPC (Relative Performance Clustering) is not compatible with the new organization. * Link to the classification system of employees for merit increase. * Three classifications of the employees (Star performer, World class contributor, unsatisfactory | III. Changes, Objectives HRD strategy: CPI emphasizes people development as one of the important strategies for gaining competitive advantage * In-house training program * SDP = develop quality manager Change in organizational structure: * Manager should behave as facilitators * Favorise creativity and innovation * Manager...
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...of education is to prepare people for both present and future generations. The world is becoming more technologically advanced each day. Notwithstanding, education is a paramount tool to understand these new conceptions completely. Thus, education is the key to a successful and fulfilling life. Accordingly, educational systems play a preeminent role all over the world. Educational systems define society and the way citizens perceive reality. Nevertheless, educational systems should provide pupils with opportunities to ascertain a sturdy sense of confidence in them and develop a strong sense of creativity, high self-esteem, and a life-long respect for learning. An educator is a professional who helps students learn and progress along their way through life. Educators practice our profession eagerly to be able to give a first-rate education to our students. As a matter of fact, educational systems doubtless have a preeminent role in the development of society, but educators and students have to deal with a lot of problems and there are urgent changes to be made on the way in order to strengthen the teaching-learning process. Educators, around the whole world, have to deal with many vital functions within the learning process. Assuming that the teaching-learning process is a social task for both present and future times, all of us should not delay our efforts to improve this process. It seems to me that the ultimate purpose of the diverse components of our educational policies is...
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