Trident Stephen T. Baker BUS499 BSBA Integrative Project The Learning and Growth Perspective Dr. Darlene Pomponio Introduction: Innovationand learning is critical for continuous improvement and value creation of any organization. People aspect in any organization is significant in attaining strategic competitive advantage and market leadership. Product diversification, commercial product leadership, and excellence in service provision objective of Octawise Inc. are hinged on innovation and learning. (A) Increasing Employees Skills and Commitment: Skill development process is significantly engraved in the strategic vision of Octawise Inc. aimed at ensuring that the organization has enough of stock of skills and expertise in tandem with its objective of becoming the market leader in the development of commercial products, and it’s positioning in the market.
Technical infrastructures and machineries can be easily matched by the competitors, but one aspect that remains unique and a clear source of strategic competitive advantage is the investment in skills. (B) Increased creativity and Innovation: Open communication and spread of knowledge throughout the organization is greatly encouraged by the Octawise Inc. This is essential for learning within the organization as it allows free permeation of expertise and skills among the individuals.
Closed communication lines tend to strangulate internal spread of knowledge which is highly detrimental to an organization aiming at attaining market leadership. For Octawise Inc. Open communication lines and structures enhance its employees learning and development, which in turn leads to increased chances of innovation and creativity. (C) Continuous product improvement: According to Ingram (2012), lean personnel structures enable employees irrespective of their positions to share ideas on how well to improve the organizational performance. Organizations that have lean personnel structures create a ground for greater innovation and creativity when compared to organizations with complex personnel structures.
For Octawise Inc. to achieve its objectives of becoming a market leader in the development of commercial products and being able to offer diverse products to the market, it is essential for its employees to submit new ideas and report valuable feedback and customer responses on operational processes and offerings of the company. This is critical in enhancing continuous improvement on product offerings and the development of new and diverse products. (D) Enhancing leadership within Octawise Inc. : According to Sheri-Lynne and Parbudyal (2007), leadership development is of strategic importance in the current business environment.
The objectives of market leadership by Octawise Inc. call not only for the development of strategic and innovative products, but also clear development programs for its leaders. It is for this reason that Octawise Inc. has put in place a robust leadership development program that anchors on participation, honesty and dialogue. Objective Measure Target Action/Initiative To enhance continuous Improvement on product development and service delivery Number of positive customers’ feedbacks. Market share gained To position Octawise Inc. as a market leader in the development of commercial products and prepare for future challenges Embracing lean personnel structures Encouraging free flow of new product development ideas within the organization To increase creativity and innovation Research and development as a percentage of sales To enhance customer satisfaction Investing in training and reskilling initiatives Establishing reward systems for creativity and innovation To increase employees commitment and Skills Number of employees suggestions registered Employees to be committed to attainment of goals and objectives as set out by Octawise Inc. Putting in place skills development programs Summary and Conclusion: As spelt out by Gordon (2008), the 4 perspectives of the balanced score card build on each other and supplement one another in the attainment of the overall organizational objectives.
The objective of increasing employee commitment and skills in learning and growth perspective of Octawise Inc. works towards enhancing excellence and quality in service delivery which in turn leads to increased customer satisfaction, which translates to greater market share and R. O.I. Increased creativity and innovation enhances customer satisfaction and attainment of strategic competitive advantage by Octawise Inc. Finally, continuous improvement is critical in offering products and services above competitors, meeting customers’ expectations, and providing superior customer service.
References Gordon, S. R. (2008). Supplier Evaluation and Performance Excellence: A Guide to Meaningful Metrics and Successful Result. New York: J. Ross Publishing. Ingram, D. (2012). The Advantages of Flat Organizational Structure. Retrieved from: Sheri-Lynne, L., & Parbudyal, S. (2007). Leadership development: learning from best practices. Leadership and Organization Development, 28(5), 5-10.