EXERCISE
Question: Part A
A paradox in innovation is that sometimes “smart” firms-especially those which have been successful innovators in the past, find themselves in difficulties under discontinuous conditions. Why does this happen and what might they do to avoid it?
Answer: Part A
The firms those which have been successful innovators in the past, find themselves in difficulties under discontinuous conditions because of the following reasons:-
1. The product/process/service which may have been innovative in the past, may not be innovative in the present/future as it may have reached its maturity/decline phase.
2. The product/process/service may not be adaptable to the future changes. If you always do what you have always done you will always
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Inclusion of outside Start-Ups, inorder to leverage from their Innovation skills etc can help Organization Workflows and Product Development to attain its own Innovation Strategy.
26. Recognize the teams involved during Innovation & reward them accordingly.
27. Create the short term wins & encourage determination, persistence.
28. Highlight the achieved & future milestones during Innovation.
29. Remove Inadequate Problem awareness
30. Remove Inadequate analysis of strategic & operative challenges
31. Speed & workload during Innovation process should be balanced.
32. The firm should adapt quickly to the pace of change.
Innovation initiatives frequently fail & successful innovators had hard time maintaining their performance. The commonly cited cause for this is a failure to execute. The issue with innovation improvement effort is lack of proper Innovation Strategy. Have transparency and learn from the failures.
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Question: Part B
Think about your company…What disruptive innovation / technologies will affect your organization?
What preparations needed to meet this challenge?
Answer: Part B
The disruptive innovation / technologies that will affect my organization are as
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Preparing for the Innovation i.e. Assessment, Preparation & Strategy Development.
2. Managing Innovation i.e. Detailed Panning & Innovation implementation
3. Re-enforcing Innovation i.e. Data gathering, Recognition & corrective action
Mobilization Moving Stabilizing
Creating sense of urgency Form Coalitions Develop Vision & Strategies Communicate
Vision
Implement
Vision
Realize
Quick
Wins Consolidate
Results Embrace
Success in
Company’s
Culture
How to Facilitate & Enable the Innovation from Managers, perspective?
1. Why we have to innovate? i.e. The objective of Innovation
2. What we want to innovate & the innovation initiative?
3. What we want to see as the successful outcome? i.e. The Final Destination of Innovation
4. Where we are today? i.e. From the Perspective of Innovation
5. How Innovation impacts the organization? i.e. The Macro Level
6. How Innovation impacts People? i.e. The Micro Level
7. What shall be the barrier?
8. What shall be the Plan for Innovation?
9. What shall be the Milestone & Map of Innovation?
10. What shall be the enabler for milestone?
11. How shall be the people & structure aligned for innovation?
12. Is the Business ready for Innovation?
13. It should make the customer a critical starting point for idea generation/innovation
Question 2 Advances in technology drive a great amount of the change that occurs in business organizations. The competitive advantage in today 's business environment includes staying on top of technological advancements that impact your industry. Business strategies that include acquiring new technologies should be guided by best practices that consider the impact on the firm, customers, employees, vendors and other stakeholders. Dream Destinations has too many odds against them in such a competitive market and so technological changes must be implemented if they wish to satisfy their shareholders. Dream Destination goals must be revisited.
With the proceeding with development of innovation, it 's not amazing how patterns are always showing signs of change too. A major number of organizations attempt to make new patterns or keep up and ride with the present ones as they make new tech new companies that will snare general society and keep them needing for additional. Take Flappy Feathered creature for instance. In spite of the fact that the application was discharged May of 2013, it made colossal waves in 2014 and even turned into the most downloaded free amusement in the Apple Application Store. It even earned $50,000 a day!
What is more interesting to note, Davidson implies that people are hesitant to change. Very few people take risk in creating a new system that might be better than the standard business practice. In a normal business days, people may see that there are no problems as everything is regulating orderly. However, due to the same routine people may not see that they are not setting up for success at all. Davidson wants to prove and motivate others that new differences is the key to becoming successful.
Performance objectives? Strategies? Action Steps for
Organization is the major key to making anything happen successfully. First off you have to designate a strong leader. You need someone who knows what is going on so that they can successfully lead the movement and make wise choices when it comes to whatever kind of plan you’re going to make. You also need a leader who is fair, willing to listen to everyone’s suggestions, and not willing to give up on the rest of the group. Besides a good leader, one must also make a clear and organized plan.
Slow speed will give more time while fast speed of technological disruption may give a business little time to cope and be profitable. Technology analysis involves understanding the following impacts: Recent technological developments by Nordstrom competitors Impact on value chain structure in services sector Technology 's impact on product offering Impact on cost structure in the
Indeed, current change models having certain limitation on implementing changes and current models only helpful when the change known and outcomes are expected. But change is an inevitable process we cont suspect when will new problems arises and all technology related changes need an alternative model for implementing change. So, in this paper I am going to explain process of
Advances in technology created new opportunities for business and bolstered the
Progress and challenges will be tracked by managers. Celebration will be in order when goals are achieved and challenges will be handled as they arise. Culture Objective 1 Develop a vision and mission statement
The world is ever changing through technological advances, innovative ideas and a need to further advance our society. Innovation has become an essential part of society. Individual viewpoints have been provided to understand concepts leading to improvement however the most prevailing viewpoints being that of Gerhard Lenski, Leslie White, and Alvin Toffler. To get a predominant cognizance of these thoughts, it is fundamental to take a look at and get these three viewpoints and the crucial part they play in depicting the improvement for development. Gerhard Lenski specified that technological progress is the motivation behind civilization evolving throughout history.
Some of the people are rejecting new things because they do not want to start all over again. Some people will still accept the innovations because of their jobs need or the interest of the new things around them. According to the article the ordeal of change written by Eric Hoffer, the author states that a workingman will do his job leisurely because he is sure about his skills. However, when things change totally different, the workingman must to do the job and unwilling to work in the new environment. The workingman needs to adjust in a new situation for a period of time and get used to the new working environment.
Expanding into Latin America New markets for any company can be anywhere in the world and since this world every day is becoming more globalized every single company around the world is targeting moving into new places and being able to expand their horizons around the world. Latin America is a region that is becoming more and more approachable to companies from around the world. It provides with a fast variety of raw materials and labor possibilities for them to exploit. Before any organization moves into a new market it must first evaluate it and scan its possibilities in order to determine the best option for it. The following is a description of this process and the best options that the company selling high quality distance measuring technology
Thus, it is analysed that change is not hindrance to work progress and advancement. It is but an opportunity to exceed what is expected
b) Analyze the potential implementation of the strategies into the
To innovate successfully a company should develop and stimulate the culture of innovations. When the clear vision for changes is created it should be communicated to the employees to involve them into the change process. Most people do not like changes. But in every company there are people who can become leaders for innovations. The company management should search such people and develop the company environment to stimulate initiative and reward innovations.