Main learning points for a student in human resource managementInnovation means something new in a business, which is substantially different. This change should add some value to both the products value, the customer’s value, and the producer’s value. According to C. K Prahalad and R. A Mashelkar in their article Innovation’s Holy Grail innovation is a process built on the assumption of affluence and abundance. As they put it, both the rich and the poor in developing and developed countries looking for alternative ways by applying innovation in order to reduce prices of the basic commodities (Gupta, 2007, pp.
78-150). This is achieved by demanding for environmental friendly products and services. They insist that innovation today should be based on affordability and sustainability but not on the premium pricing and abundance. Innovation calls for companies to manufacture more using the minimum available resources and cost and sell the products at a lower price for more people to afford. This will call for the need to employ more talent since it will lead to a more complex knowledge network. As a human resource management student, the innovation issue is of paramount importance since it requires trained individuals to introduce new and unique ideas to the market.
Innovative ideas will also help in organizational performance which is one of the duties of a HR manager (Govindarajan & Trimble 2010. Pp. 99- 146)One of the ideas is to use the clinical and qualitative data to develop the aim plans that will pass the pre-clinical and clinical research test. In the resource management the important goal is to develop innovation ideas that will go beyond expectation of the innovator.
This can be achieved by using the alternative means, with the same end result but the cost are cheaper which will reflect a relief to the customers and the company at large. Another idea is to diversify the innovation criteria, whereby the innovator has to use a wide range of innovation skills like the technology and creating a room for allowing new ideas. This idea calls for the need to use all means necessary to reduce the cost of production using new research and technology. The need for small size, low prices and big ambition is another idea for innovators and has also called for big and different managerial skills.
The manager of a company should seek for innovator who will implement the three criteria. One, the innovator should produce items that are small in size which will consequently reduce the price of the commodity, and big ambitions in the future of the company that will help the management to make good returns. As a HR manager, my goal is to develop abroad commitment to inclusive growth which will force innovators to think of un-served customers (Gupta, 2007, pp.
234-300). By so doing, the innovators will come up with ideas that will solve the problems at hand. The innovator should always accept that constraints will always exist and creativity operates within them. They should therefore come up with ideas that are beyond the resources and the capability of the company at least to give the company a challenge that will keep them going.