Strategy Must Address Three Hulus Innovation Stra
Scenario: You have been appointed as an external innovation and change consultant to an organization. This organization has been in existence for a number of years. Conscious of the fact that an inability to be innovative can lead to failure, the leadership of the organization has appointed you to assist them in developing an innovation strategy to ensure that the organization maintains an innovative culture and that this, in turn, will lead to a sustained ability to deliver innovative products and services to the market.
Task: An approximately 3,000-word paper in which you recommend an innovation strategy for your organization and analyse the implementation of that strategy within the organization. The paper will have four parts:
- The organization: 300–500 words to select and identify the organization that you wish to study and the industry in which it operates. Provide some background information on the organization you have selected. You should identify (but not be restricted to) the following:
- Sources of innovation The focus of this Project is the creation of an innovation strategy based on your critical analysis of how to foster an innovative culture within an organization with which you are familiar. You will consider how you might apply the concepts of sources of innovation and service innovation to the organization you selected. Submit an analysis of your company in approximately 1000 words to explore the following questions:
- Applying innovation, creativity and diversity For this part, consider how to apply the concepts of managing innovation, a creative workplace culture and workplace diversity to the organization you selected. With your understanding from the readings, submit approximately 750 words addressing the following:
- Final part – approximately 1000 words in which you recommend an innovation strategy for your organization and analyse the implementation of that strategy within the organization. This strategy must address three important elements:
- The organization
- The products or services that it offers
- Its position within its industry in terms of market share and size
- The extent of competition within its industry
- Outline why this organization requires your services as an innovation and change consultant.
- Outline how your role as a consultant will impact the immediate and long-term success of this organization.
- What sources of innovation can the organization use in order to achieve its objective of sustaining a pipeline of innovative products and services? You should consider the roles of lead-user and open innovation, indicating whether or not these are relevant.
- To what extent is this organization faced with disruptive innovation?
- Is service innovation something that can be developed by this organization?
- The impact of the changes you propose on the organization you selected
- Whether these changes involve a change to the organization’s culture
- Whether workplace diversity, or lack thereof, impacts the innovation of the organization
- The influence of the organization’s workplace diversity on the changes you propose
- The possible resistance that your changes may face from owners/managers and employees
- What you propose the owners/managers should do to address these challenges and overcome them
- Firstly, your strategy must illustrate that the changes you propose will have a positive commercial impact on the business.
- Secondly, your strategy must show that the people within the organization are able to deliver the plan you propose.
- Finally, the strategy must outline that the business which was at risk of failure now has the resources and capabilities for a sustainable competitive advantage within its chosen industry.
- This part of the Module Project should be linked to the Cooper and Edgett (2010) model (Provided in the attachment)
- In particular, the final part of the Module Project will show the following:
- What the medium- and long-term goals of the organization are
- How the organization will implement these goals
- How the organization will deploy and develop resources to achieve these goals
- The impact of the innovation strategy on the triple bottom line of the organization
Note: All research should be from secondary, desk-based sources e.g. academic journals and public websites. You should not collect primary data such as interviews or questionnaires