Design an Appropriate Business Process, Which Can Support the Company’s Current and Future Innovation Activities. Your Assignment Is to Improve the Innovation Management Process in the Company.
Case study assignment
This is a case company assignment. This company wants to become a leader in radical innovation. Your assignment is to design an appropriate business process, which can support the company’s current and future innovation activities. Your assignment is to improve the innovation management process in the company. Specifically, you have two tasks:
1. Describe the stages and activities that enable innovation in a company in general and in the case company specifically. What are the strengths and weaknesses of the current situation in the company?
2. Design an initiative, which can strengthen incremental and radical innovation in the company. This new process should enable the use of innovation management techniques.
For Task (2) you should provide not only a description and rationale of the new innovation management process and the supporting innovation management techniques but also a proposal outlining how the company should implement this new innovation management process.
As a strategy designed to help companies succeed, innovation is rising to the top of organisations’ agenda. For the first time, according to PwC’s 14th Annual Global CEO Survey, CEO’s say they are as likely to focus on innovation to achieve growth, as they are to exploit existing markets.
In this paper I will define innovation, outlining its importance in modern business and describe innovation enablers. I will then discuss the strengths and weaknesses of Lonza, the organisation outlined in the case study.
Finally, I will present how I believe Lonza can develop, implement and embed radical and incremental innovation within its business so that it, like many organisations as described by PwC, can achieve growth.
“Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them” according to Tidd & Bessant (2009). However the challenge is not simply identifying opportunities, but making these work
This is a case company assignment. This company wants to become a leader in radical innovation. Your assignment is to design an appropriate business process, which can support the company’s current and future innovation activities. Your assignment is to improve the innovation management process in the company. Specifically, you have two tasks:
1. Describe the stages and activities that enable innovation in a company in general and in the case company specifically. What are the strengths and weaknesses of the current situation in the company?
2. Design an initiative, which can strengthen incremental and radical innovation in the company. This new process should enable the use of innovation management techniques.
For Task (2) you should provide not only a description and rationale of the new innovation management process and the supporting innovation management techniques but also a proposal outlining how the company should implement this new innovation management process.
As a strategy designed to help companies succeed, innovation is rising to the top of organisations’ agenda. For the first time, according to PwC’s 14th Annual Global CEO Survey, CEO’s say they are as likely to focus on innovation to achieve growth, as they are to exploit existing markets.
In this paper I will define innovation, outlining its importance in modern business and describe innovation enablers. I will then discuss the strengths and weaknesses of Lonza, the organisation outlined in the case study.
Finally, I will present how I believe Lonza can develop, implement and embed radical and incremental innovation within its business so that it, like many organisations as described by PwC, can achieve growth.
“Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them” according to Tidd & Bessant (2009). However the challenge is not simply identifying opportunities, but making these work
References: Abernathy, W. & Utterback, J. (1975) Patterns of industrial innovation. Technology Review 1975 Australian Government (2012) Sectors/science innovation [Online] Cooper, R.G. (2008) Perspective: The Stage-Gate Idea –to-launch Process – Update, What’s new, and NexGen Systems. The Journal of Product Innovation and Management Dosi, G Ettlie, J. (1999) Managing Innovation. New York: Wiley & Sons Ltd. Francis, D. & Bessant, J. (2005) Targeting innovation and implications for capability development. Technovation 25, p171-183 Henderson, R Hollander, S. (1965) The Sources of Increased Efficiency: A study of DuPont Rayon Plants. Cambridge, MA: MIT Press Leifer, R Porter, M.E. (2004) Competitive Strategy. New York: Free Press PwC Schumpter, J. (1950) Capitalism, Socialism and Democracy. New York: Harper & Row Tidd, J Van de Ven, A. (1999) The Innovation Journey. Oxford: Oxford University Press