A minimum of 100 words each question and References (IF NEEDED)(Response #1 – 6) KEEP RESPONSE WITH ANSWER
Make sure the Responses includes the Following: (a) an understanding of the weekly content as supported by a scholarly resource, (b) the provision of a probing question. (c) stay on topic
1) Innovation plays a large part when it pertains to nations, leaders and individual employees, and companies. Many factors come into play such as research and development spending, manufacturing capability, and concentration of high-tech public companies (Jamrisko, 2019).
South Korea is currently ranked as the world’s most innovative country (Jamrisko, 2019). It is imperative for a country to be innovative to support their population. Being innovative as a country allows for better control and planning for its future (Nicholas, 2015). This is important when looking at future budget planning and educational improvements throughout their population (Jamrisko, 2019).
Being innovative can be considered a requirement to be successful when it pertains to being competitive amongst other companies and organizations. As our textbook states, General Motors has spent more on R&D than any other company in the world (Gibson & Skarzynski, 2008). Utilizing innovation as a tool in their company allowed them to be ranked as the world’s third largest automaker (Schmitt, 2017). Repetitiveness in the workplace has the potential of demotivating employees, therefore negatively effecting production. Having leaders that can stimulate their employees by providing innovative ideas can help in maintaining the employment of employees, and improving their productivity. Employees that apply innovation in the workplace allows them to stand out amongst their peers. Showing innovation and a will to improve their organization sets not only themselves, but also the organization up for success.
2) Innovation is the leading way to stay ahead in the modern world that is constantly in a fast pace forward movement. The following definition has been used by businessdictionary.com
The process of translating an idea or invention into a good or service that creates value or for which customers will pay.To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products. In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers. For an employee the use of innovation can bring a task into simpler form of completing the task, this can also be an open door for someone who has a skill set to see things in a new light and who has an innovated mind that could possibly change things i.
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A minimum of 100 words each question and References (IF NEEDED)(Re.docx
1. A minimum of 100 words each question and References (IF
NEEDED)(Response #1 – 6) KEEP RESPONSE WITH
ANSWER
Make sure the Responses includes the Following: (a) an
understanding of the weekly content as supported by a scholarly
resource, (b) the provision of a probing question. (c) stay on
topic
1) Innovation plays a large part when it pertains to nations,
leaders and individual employees, and companies. Many factors
come into play such as research and development spending,
manufacturing capability, and concentration of high-tech public
companies (Jamrisko, 2019).
South Korea is currently ranked as the world’s most innovative
country (Jamrisko, 2019). It is imperative for a country to be
innovative to support their population. Being innovative as a
country allows for better control and planning for its future
(Nicholas, 2015). This is important when looking at future
budget planning and educational improvements throughout their
population (Jamrisko, 2019).
Being innovative can be considered a requirement to be
successful when it pertains to being competitive amongst other
companies and organizations. As our textbook states, General
Motors has spent more on R&D than any other company in the
world (Gibson & Skarzynski, 2008). Utilizing innovation as a
tool in their company allowed them to be ranked as the world’s
third largest automaker (Schmitt, 2017).
Repetitiveness in the workplace has the potential of
demotivating employees, therefore negatively effecting
production. Having leaders that can stimulate their employees
by providing innovative ideas can help in maintaining the
employment of employees, and improving their productivity.
Employees that apply innovation in the workplace allows them
to stand out amongst their peers. Showing innovation and a will
2. to improve their organization sets not only themselves, but also
the organization up for success.
2) Innovation is the leading way to stay ahead in the modern
world that is constantly in a fast pace forward movement. The
following definition has been used by businessdictionary.com
The process of translating an idea or invention into a good or
service that creates value or for which customers will pay.To be
called an innovation, an idea must be replicable at an
economical cost and must satisfy a specific need. Innovation
involves deliberate application of information, imagination and
initiative in deriving greater or different values from resources,
and includes all processes by which new ideas are generated and
converted into useful products. In business, innovation often
results when ideas are applied by the company in order to
further satisfy the needs and expectations of the customers. For
an employee the use of innovation can bring a task into simpler
form of completing the task, this can also be an open door for
someone who has a skill set to see things in a new light and who
has an innovated mind that could possibly change things into a
new form. For an organization innovation can lead the business
forward with new ideas to place on the market for sale to
customers, or other businesses. Trends are constantly changing
leading to new ideas, new products, and technology. For a
business to stay competitive innovation needs to happen to be
able to stay ahead of the game. For the nations innovation can
create new jobs for the people and continued advancements in
the way things are done including new technology. This also
includes safety for people who are working dangerous jobs,
medical technology, life saving devices, and cures for medical
issues that people may have. Without innovation our world
would never change and the same stale environment would
always be here. Problems we face might never find a resolution
to them, and we would be stuck in a rut of never finding new
discoveries that have happened over time that have been a huge
benefit to the way we live our lives.
3. 3) In order to stay competitive or gain any type of advantage
innovation allows one’s company to have a sound, strong,
stable, foundation, creating the ability to compete against
domestic as well as foreign competitors, without the assistance
or the total dependability of others. “Many organization leaders
proclaim innovation as an imperative and corporate value”
(Chen, Muller,2010). In order to compete, creativity, and
innovation plays an important part.
Leaders are expected to find new ways to stay ahead of the
competition, increase revenue, decrease waist, have motivated
employees, and create an environment that employees as well as
themselves can strive in. “To stay competitive in a rapidly
changing world, companies need to constantly innovate, and to
remain healthy, companies need to constantly grow their
revenue” (Seitchik,2019). A leader being innovative creates the
condition for all those actions to take place.
Employees can lose motivation, or have no sense of
commitment, or loyalty if they are not given the tools to
accomplish their task, innovation helps create a better working
environment. “Innovative work behavior (IWB) is imperative
for innovation and one of the most widely studied construct.
IWB is an intentional behavior of an individual to introduce
and/or apply new ideas, products, processes, and procedures to
his or her work role” (Akbar, Haider,2017). Employees who
may not see a future in their current position, innovation gives
them something to look forward to, it gives them sense of
learning, and growing with the company they work for,
innovation helps with keeping employees interested, and loyal,
for an individual employee, innovation is something they can be
a part of allowing them to have a better sense of purpose.
4) Innovation is very important in all facets in keeping the
competitiveness of nations, innovation within companies,
leaders, and individual employees. To be able to argue why
innovation is important you must first understand what
innovation is. According to Merriam Webster dictionary the
definition of innovation is: “the introduction of something new,
4. or a new idea, method, or device: Novelty” (innovation, n.d.).
Innovation is competitive to nations because it allows countries
the ability to stay competitive in the market place, and within
the world trade market. It allows countries to introduce, and
open up new markets as well as allowing them to grow easily.
This could be through the engineering sector, or even space
travel. Innovation within companies allow them to grow easier,
and to open up new markets that may be untapped. Growing in
an ever changing market especially in the technological age we
live in now is something that is needed within companies to
keep them competitive. Also keeps pace with the growth of the
economy, and the direction it is headed. Innovation is important
for leaders because it keeps the goal on growth. It is one of the
most important ways for companies to accelerate change. It also
allows growth in business processes. Innovation is important for
individual employees because it can alter the way they work by
innovating ways to make their work easier. It also keeps their
eye on the prize with employee growth. Lastly it allows
employees to connect and communicate through all channels of
the company to ensure company growth continues, and
innovation happens at all levels making the company a better
place to employees up.
5) Innovation to me means, you’re testing something new, a new
way of doing business, eliminating steps from the old process,
or testing out new equipment that gives you an edge over your
competitors; always staying a step ahead. It’s a way of doing
things better. If your current process was 20-steps now it is only
10, you eliminate half of it. The right innovation can help you
save time and money (Henderson, 2018). It means you are
moving in the right direction, thinking outside of the box.
You’re looking at ways to improve your organization, bring in
more investors, and boost income. According to Merriam-
Webster, Innovation is defined as the introduction of something
new or different. The act of innovating leads to the introduction
of new ideas, devices or methods.
5. 6) After doing a lot of research this week regarding innovation
the best definition that I have come up with is: Innovation-The
process of creating an idea or invention into a product or
service that will create value for a company or organization.
The idea or concept is thought up for a company to remain
relevant or up to date with the times and where business is
progressing. This concept or idea will need to be communicated
effectively and executed to the best of the company’s abilities.
It must be feasible and the offering needs to be adopted by
customers of the business (in order to be deemed successful).
Innovation is really to generate more value to the company or
organization. Simply put innovation is the movement into
positive change for an organization.