Innovation and Its Essence in Workplaces - Coursework Example

Innovation and Its Essence in Workplaces Name: Institution: Innovation and Its Essence in Workplaces Innovation in workplaces is considered as a process through which different economic and social values are extracted from knowledge using generation, development and the implementation of ideas in ways that ensure the production of new or improved strategies, capacities, services, processes or products (Terziovski, 2007). The main objective of any innovation process in a business platform is considered a workable strategy when the ideas generated are converted into useful products. How managers encourage innovation in a workplace The ability of an organization to thrive in the market is based on the capability of the management to create an environment that encourages innovation. This is because the process of innovation often requires an organization to have the capacity to attract ideas from different platforms, convert these ideas into workable strategies to boost the reputation and the competitive advantage of the organization in the market (Terziovski, 2007). Managers in an organization can encourage innovation using an idea portal. This is an intranet-based tool that assists the management in tracking ideas from the initiation stage to the implementation. This is considered as a relatively easier way of promoting innovation since the use of such a portal is often accessible to employees hence making it easier to generate ideas with transparent origins (Terziovski, 2007). The use of an idea portal can also be possible in situations where a company has a research and development department that assesses the possibility that the ideas proposed will lead to the development of a new products, service or process in ways that boost the competitive advantage of the company (Høyrup, 2012). The use of an idea portal is also possible when the customer service desk is charged with the responsibility of documenting useful information from customers. When employees are allowed to share information from customers, it is possible for these employees to generate ideas on ways through which they can improve on different process such as customer service and the design of products. Companies such as Coca-Cola have been instrumental in the use of idea portals to develop ways through which the company can develop in specific areas (Butler & Tischler, 2015). This explains why Coca-Cola has been able to thrive in the beverage industry through the development of soft drinks that provide customers with variety of products (Butler & Tischler, 2015). Managers can also promote innovation in workplaces by rewarding good ideas. This positive reinforcements increase the probability that more employees will be involved in a process that encourages rewards in the form of incentives and promotions often increase the ability of employees to engage in more innovative techniques (Terziovski, 2007). One way through which the reward systems can be effective in an organizational setting is by promoting the employees to be part of the team that builds and develops the idea until the implementation stage. The integration of employees into the workforce that endeavours to implement their ideas creates a sense of ownership and motivation towards the development of the organization. BMW is considered as one of the most successful automobile companies in the world in terms of innovation. One way by which BMW has been able to boost its reputation as a successful company is by embracing new technological ideas and promoting employees in charge of the ideas (Gaubinger, 2014). The management can also initiate a process of courting long time employees. This is based on the realization that companies often attract a pool of employees with different levels of experience, level of expertise and creativity (Gaubinger, 2014). The management has the responsibility of identifying the employees who have the ability of generating ideas for the growth of the organization. In addition, the process of identifying these employees must also be related to the tenure, salary, age and position of the employees. This means that for innovation to arise in any company, employees must be engaged in processes that promote their wellbeing and that of the company. Managers have the responsibility of training their employees to embrace analytics. Analytics help employees to understand that every idea has the potential of improving the company in different ways (Høyrup, 2012). For companies such as Toyota, the improvements in the design of different cars are inspired by suggestions from employees. The ability of the company to embrace every suggestion is a way that encourages employees to share their ideas with the managements and other employees (Høyrup, 2012). Apple Company is also considered as one of the most successful companies in terms of innovation. This has been attributed to its ability to create an environment that promotes proposition, discussion and sharing of ideas among employees (Zufi, 2013). The process of analytics can also help companies in testing and refining ideas prior to their implementation. Types of innovation Innovations can be in the form of radical change to services and products. This approach to innovation often originates from research and development or formal creativity from employees. The process begins with the desire to introduce a new product or services based on in-depth studies (Gaily, 2007). This evolves into the formation and commercialization of a new product or service in the market. These products often alter the area of focus of a business in terms of the best place to generate more revenue in terms of profits (Gaubinger, 2014). Radical change products and services that have succeeded include the introduction of laptop computers, windows operating system and the Automatic Teller Machine (ATM). Breakthrough services in the business sector include on-line shopping and the internet among others (Gaubinger, 2014). Radical change processes is another type of innovation that introduces sudden and sporadic change in business and management processes. This is founded on a new way of planning, managing, designing, production and distribution of products and services. Examples of radical change to processes include the introduction of lean manufacturing as a process that reduces wastage in the production process (Gaily, 2007). Innovation can also take the form of incremental improvement to products and services. This process adds or sustains value through the improvement of existing products and services. Incremental changes are often in response to evolving customer needs or ideas emanating from research laboratories. Examples of incremental changes to existing products include the introduction of Microsoft Windows 8 and Apple’s IPhone. Incremental change to services includes online registration services (Gaubinger, 2014). Problems associated with innovations in workplaces One of the major problems associated with innovations in companies is the inability of the organizations to intergrate the past and future aspects of the innovation in relation to the wellbeing of the company. An innovative mechanism is only considered successful in situations where it endeavours to improve a company’s past in ways that will ensure sustainability in the future (Gaily, 2007). Start-ups for instance paly an essential role in identifying unmet needs in the society. However, maintaining this value overtime through high-level efficiency may be cumbersome in situations where the company does not recognize the essence of innovation. An additional problem associated with innovation is the inability of an employee to foresee the role of the idea in the dynamic market. This makes it relatively difficulty for the company to maintain culture while at the same tome satisfying customer interests (Høyrup, 2012). Apple has been successful in its innovative procedures especially when handling challenges related to the production of technological devices due to its ability to maintain its tradition of quality products while at the same time engaging in procedures that improve its innovative ways to satisfy the diverse interests of the customers (Zufi, 2013). This is an indication that the process of sharing ideas on innovation must be accompanied by a series of debates and evaluation on the relevance of the idea in promoting the wellbeing of the company in terms of value provision and the establishing a competitive advantage. Benefits of empowering stakeholder involvement in innovation The current market is relatively competitive and this requires companies to engage different stakeholders as a way of realizing high-level competitive advantage and an improvement in terms of their market share (Gaily, 2007). Companies such as BMW have been able to succeed in the promotion of innovation among different stakeholders due to its ability to invest in start-ups (Gaubinger, 2014). These start-ups have helped the company in learning more about the latest improvements in technology, which allows it to incorporate these developments in the development of its automobiles. In addition, this approach to the promotion of innovations allows the company to invest in ideas that are supported by an established and effective management team (Gaubinger, 2014). The involvement of stakeholders also allows companies to integrate company interests with those of the customers, shareholders and employees. Through innovations such as the introduction of different brands for the same products, Coca-Cola has been able to accelerate the company’s mandate that requires it to refresh its customers, inspire some level of optimism and the promotion of happiness of different stakeholders (Butler & Tischler, 2015). This has been heighted by the ability of the company to create value in the sit drink market as a way of marinating a relatively high competitive advantage. This means that innovation is an integral process in the wellbeing of a company and that of the stakeholders since through the satisfaction of their needs, the company will always improve on its profit margins (Høyrup, 2012). References Butler, D & Tischler, L. (2015). Design to Grow: How Coca-Cola Learned to Combine Scale and Agility (and How You Can Too). Simon and Schuster: New York Gaily, B. (2007). Developing Innovative Organizations: A Roadmap to Boost Your Innovation Potential. Basingstoke: Palgrave Macmillan Gaubinger, K. (2014). Innovation and product management: A holistic and practical approach to uncertainty reduction. Høyrup, S. (2012). Employee-driven innovation: A new approach. New York, NY: Palgrave Macmillan. Terziovski, M. (2007). Building innovation capability in organizations: An international cross- case perspective. London: Imperial College Press. Zufi, J. (2013). Iconic: A photographic tribute to Apple innovation. Atlanta, GA: Ridgewood Pub. Read More