Paper on intrepreneurship and organization performance by Samuel Obino Mokaya
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This document discusses intrapreneurship and its relationship to organizational performance. It defines intrapreneurship as entrepreneurial behavior within an existing company that can lead to innovation and improved firm outcomes. The document reviews theoretical perspectives on intrapreneurship and outlines factors that encourage its development, such as supportive environments, rewards for innovators, and loose structures. When intrapreneurship is successfully implemented, the outcomes can include new products/processes, growth, learning, and increased profitability and customer satisfaction. The document concludes that intrapreneurship can provide competitive advantages and that companies should cultivate environments where employees feel empowered to act entrepreneurially.
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Read attachedpages about 3-M and their approach to innovationRes.docx
Read attachedpages about 3-M and their approach to innovation
Research one of 3M’s innovations.
Write a full two page paper in which you respond to the following questions:
1. How did the creative thinking process work in the development of this product? Describe what took place in each of the four steps.
2. Analyze what type of innovation this was—invention, extension, duplication, or synthesis. What characteristics of the innovation have led you to this conclusion?
3. Explain which of the sources of innovative ideas discussed in this week’s reading help account for this product’s success and why?
Include a minimum of two sources
The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
Thus, 3M’s philosophy was born. Innovation is a numbers game: The more ideas, the better the chances for a successful innovation. In other words, to master innovation, companies must have a tolerance for failure. This philosophy has paid off for 3M. Antistatic videotape, trans- lucent dental braces, synthetic ligaments for knee surgery, heavy-duty reflective sheeting for construction signs, and, of course, Post-it notes are just some of the great innovations devel- oped by the organization. Overall, the company has a catalog of 60,000 products.40
Today, 3M follows a set of innovative rules that encourages employees to foster ideas. The key rules include the following:
•
Don’t kill a project. If an idea can’t find a home in one of 3M’s divisions, a staffer can devote 15 percent of his or her time to prove it is workable. For those who need seed money, as many as 90 Genesis grants of $50,000 are awarded each year.
• Tolerate failure. Encouraging plenty of experimentation and risk taking allows more chances for a new product hit. The goal: Divisions must derive 25 percent of sales from products introduced in the past five years. The target may be boosted to 30 percent in some cases.
• Keep divisions small. Division managers must know each staffer’s first name. When a division gets too big, perhaps reaching $250 million to $300 million in sales, it is split up.
• Motivate the champions. When a 3M employee has a product idea, he or she recruits an action team to develop it. Salaries and promotions are tied into the product’s progress. The champion has a chance to someday run his or her own product group or division.
• Stay close to the customer. Researchers, marketers, and managers visit with customers and routinely invite them to help brainstorm product ideas.
•
Share the wealth. Technology, wherever it is developed, belongs to everyone.41 3-4c structuring the Work environment
Structuring the Work environment
When establishing the drive to innovate in today’s corporations, one of the most critical steps is to invest heavily in an innovative environment. A top-level manager’s job is to create a work environment that is highly conducive to innovation and entrepreneurial behaviors. Within such an environment, each employee has the opport ...
A minimum of 100 words each question and References (IF NEEDED)(Re.docx
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.
Innovation Capability for Sustainable Competitive Advantages
Innovation is perennially at the top of CEO agendas, yet many executives continue to be frustrated with their transformation programs' hit-or-miss pace and results. The problem isn’t usually a lack of good ideas. Initiatives take too long, non-strategic projects get greenlighted at the expense of game changers, and dynamic ideas remain captive in the heads of employees.
Innovation contributes to competitive advantage for companies and therefore many researchers have sought to understand how to strengthen the company’s capability to innovate, as this makes enterprises more competitive and perform better financially (Henderson & Clark, 1990).
What’s missing is a system of enablers that work together to support innovation. Our experience with industry leaders shows that when the right people, processes, and metrics come together in a “growth factory,” they can transform how innovation happens, galvanize employees’ creativity, and create long-term competitive advantage.
Innovation is not inherently unpredictable and does not require a heavy dose of serendipity to succeed. When companies take a systems approach, they can pursue innovation in a way that reliably generates repeatable results.
Linking Theory & PracticeNavigating the innovation landsca.docx
Linking Theory & Practice
Navigating the innovation landscape: past
research, present practice, and future trends
Shanthi Gopalakrishnan1,
Eric H Kessler 2,
Joanne L Scillitoe3
1School of Management, New Jersey Institute
of Technology, Newark, NJ, USA; 2Lubin School
of Business, Pace University, New York, USA;
3School of Management, New York Institute of
Technology, Old Westbury, NY, USA
Correspondence:
Shanthi Gopalakrishnan, School of
Management, New Jersey Institute of
Technology, Newark, NY 07102, USA.
Tel: þ973-596-3283;
Fax: þ973-596-3074
Abstract
The management of innovation is among the most critical capabilities
contributing to the success of modern organizations. It is also complex and
frequently misunderstood. In this paper we first provide a broad overview of
the organizational innovation literature [the Past] to distill five fundamental
themes: What is innovation, why is it important, where does it come from,
who engages in it, and how can it be best executed? Second, we illustrate how
these concepts are applied by three companies on the vanguard of innovation
management [the Present] – Google, Walt Disney, and Johnson & Johnson.
Third, we project the discussion forward by considering key issues and emerging
trends [the Future] of innovation management such as nanotechnology, ethical
dilemmas, information technology, globalization, and sustainability. Fourth,
we derive from the above analyses concrete guidelines for managers to
leverage these insights and enable more effective innovation practices.
Organization Management Journal (2010) 7, 262 –277. doi:10.1057/omj.2010.36
Keywords: innovation; management; industry; organization
Introduction
In today’s increasingly turbulent business environment, largely
attributed to continual and rapid globalization and technological
advancements, change has become a ubiquitous phenomenon.
Innovation has emerged as an important mechanism to facilitate
adaptation to this shifting competitive landscape. Although
considered controversial by some skeptics, innovation plays a
critical role in nurturing the economy, creating and radically
transforming industries, sustaining the competitive performance of
firms, and improving the standard of living and creating a better
quality of life for citizens. Understandably, research that is focused
on this climate of change displays a strong “pro-innovation”
perspective (Kimberly, 1981; Abrahamson, 1991) and visualizes
innovation as an inherently beneficial organizational activity with
profound consequences for multiple constituencies. Indeed, it is an
organization’s capability for sustained innovation that oftentimes
determines its success. However, when discussing the management
of innovation, one must also consider the more ambiguous,
potentially destructive, and less readily understood social and
ethical dynamics of the innovation process.
This paper attempts to provide a broad overview of the
innovation management landscape. First, we ...
Linking Theory & Practice Navigating the innovation landscape pas.docx
Linking Theory & Practice Navigating the innovation landscape: past research, present practice, and future trends Shanthi Gopalakrishnan1 , Eric H Kessler 2 , Joanne L Scillitoe3 1 School of Management, New Jersey Institute of Technology, Newark, NJ, USA; 2 Lubin School of Business, Pace University, New York, USA; 3 School of Management, New York Institute of Technology, Old Westbury, NY, USA Correspondence: Shanthi Gopalakrishnan, School of Management, New Jersey Institute of Technology, Newark, NY 07102, USA. Tel: þ 973-596-3283; Fax: þ 973-596-3074 Abstract The management of innovation is among the most critical capabilities contributing to the success of modern organizations. It is also complex and frequently misunderstood. In this paper we first provide a broad overview of the organizational innovation literature [the Past] to distill five fundamental themes: What is innovation, why is it important, where does it come from, who engages in it, and how can it be best executed? Second, we illustrate how these concepts are applied by three companies on the vanguard of innovation management [the Present] – Google, Walt Disney, and Johnson & Johnson. Third, we project the discussion forward by considering key issues and emerging trends [the Future] of innovation management such as nanotechnology, ethical dilemmas, information technology, globalization, and sustainability. Fourth, we derive from the above analyses concrete guidelines for managers to leverage these insights and enable more effective innovation practices. Organization Management Journal (2010) 7, 262–277. doi:10.1057/omj.2010.36 Keywords: innovation; management; industry; organization Introduction In today’s increasingly turbulent business environment, largely attributed to continual and rapid globalization and technological advancements, change has become a ubiquitous phenomenon. Innovation has emerged as an important mechanism to facilitate adaptation to this shifting competitive landscape. Although considered controversial by some skeptics, innovation plays a critical role in nurturing the economy, creating and radically transforming industries, sustaining the competitive performance of firms, and improving the standard of living and creating a better quality of life for citizens. Understandably, research that is focused on this climate of change displays a strong “pro-innovation” perspective (Kimberly, 1981; Abrahamson, 1991) and visualizes innovation as an inherently beneficial organizational activity with profound consequences for multiple constituencies. Indeed, it is an organization’s capability for sustained innovation that oftentimes determines its success. However, when discussing the management of innovation, one must also consider the more ambiguous, potentially destructive, and less readily understood social and ethical dynamics of the innovation process. This paper attempts to provide a broad overview of the innovation management landscape. First, we survey the exi ...
Running Head BENCHMARK – CASE STUDY POTENTIAL RESOLUTIONS1BENC.docx
Running Head: BENCHMARK – CASE STUDY POTENTIAL RESOLUTIONS 1
BENCHMARK – CASE STUDY POTENTIAL RESOLUTIONS 3
Benchmark - Case Study Potential Resolutions
In the current age of revolutionary change, an organization is as healthy as its sustainability prowess. Today’s company’s unlike past generations, operate in complicated and fast-paced regulated environment. There is an increased need to satisfy current stakeholders, safeguard future generations, and optimally use natural resources. It is in this breadth the Purple Cloud Company thirsts to speed up their product development, widen its market share, and seize new opportunities. The company’s sustainability strategy is acquisition and expansion as they aim to increase value above $100 million and increase the organizations stock price above $71.
Acquisition is a strategic measure implemented by the Purple Cloud Company as a corporate sustainability resolution. The company purchased ABC-Tech, and the acquisition allowed the parent company to intertwine its services with the acquired developed organization. The purchase yielded goodwill for the company’s stakeholders, provided a competitive edge, and reflected positively on the organizations financial bottom line. By acquiring ABC-Tech, which is a company that offers a simple technology platform, allows the organization to reduce customer support costs from $7,000 to $6,000, increase ABC-Tech revenue from $24 million to $48 million, increase revenue from $70 million to $100 million, and increases the profitability index from 17.2% to 18.7% market share, this will attract talent, and drive innovation. (Spears, 2012).
Additionally, the Purple Cloud organization should deploy an expansion strategy. This step will expand their market share, especially if the home market is saturated by their products. This is an inevitable venture given the prospect of it promoting access to new territories that will boost sales volume, allow diversification thus reducing risk exposure, facilitate access to better talent pools, build strong public relations, bring forth a competitive advantage, and most importantly provide opportunities for direct foreign investment.
Management Theories
Today’s organizations are comprised of individuals who manage the employee pool based on the science of humanistic approaches, which has evolved from the authoritarian mindset of the past generation. Purple Cloud has benefited from various visionary methods of operating sustainable companies commonly referred to as, management theories. A primary management theory is classical theory. The use of data and measurements allows the Purple Cloud management team to observe and evaluate business functions in numerical terms. The quantitative focus on the operations, and the production of services allows the company to achieve informed decision-making, and effective profitability.
Domestically, the company has a larger market share, and this motivates the organization to locate emerg.
The concept of change management in today’s business world
International peer-reviewed academic journals call for papers, http://www.iiste.org/Journals
INNOVATION ARCHITECTURE1Innovation.docx
INNOVATION ARCHITECTURE 1
Innovation Architecture
Ronna Coffman
Grand Canyon University: ENT-435
April 21st, 2017
Innovation is much more than just design thinking workshops. In fact, innovation is a challenging undertaking. For the success of an organization it requires repeatable and rigorous system of innovation. Creativity and ideas are essential ingredients of innovation. The seeds of innovation are provided by individuals, but innovation is a team effort that turns ideas into reality and delivers tangible outcomes. (Elliott, 2014)
Companies today face a harsh ultimatum: Innovate or die. Senior executives repeatedly tell to their employees that failing to innovate would create a critical risk to their enterprise’s growth, even its survival. Organizations rate themselves lowest on one aspect of innovation i.e. the ability to implement a “system of innovation” – a defined, consistent and effective innovation process. (France, Mott, & Wagner, 2014)
Innovation involves the introduction of something new, particularly something radically different. The something new could be products and services, product/service delivery, business designs, business processes, or new ways of managing.
Business Innovation can be differentiated from other types of initiative such as efficiency, continuous improvement, transformation, optimization etc. by its purpose. The purpose of business innovation is to create new future value for the organization. Innovation is strongly connected to strategy since the focus of strategy is to consider the constantly changing context and envision the future to define the best competitive position to achieve future goals.
The greatest challenge faced in building innovation architecture is that leaders are not able to create a climate for innovation in an organization. The employees are not recognized and rewarded for the innovative work they carry out. The organizations should look after the employees as they play an important role in bringing out innovation.
Innovation in an organization is everyone’s responsibility, but employees can’t innovate unless their leaders empower them to do so in an environment that values and rewards their contributions. The leaders should create a climate that helps the employees to innovate and even they are allocated accountability for a particular idea. Company can create a center of innovation expertise in corporate headquarters or diversifies ownership of innovation across business units depending on company’s market focus and on its organizational structure.
For bringing out innovation the employees must be involved, motivated and engaged with the leaders. If they do the same things each day, they’re not going to get inspired by new things. To get more than ideas for continuous improvement, people’s minds should be flooded with a lot of new information – and this is where Design Thinking can play a great role.
Building innovation architecture:
Successful innovators .
Discussion 1Post 1Top of FormToday, data quality and privac.docx
Discussion 1
Post 1:
Top of Form
Today, data quality and privacy are important components in any organization around the world. Thus , project managers are required to come up with proper ways of ensuring better data quality and privacy to ensure there is availability and improve customer service that will go to the heart of enabling the organization have a proper and functioning system at the end of the day. The managers need to adopt the following recommendations for the business as follows. The first recommendation is the need to have a high level of accuracy and measurement when it comes to degree where the data values are obtained. Data accuracy is very important in the business as wrong values will produce wrong output and this will affect the quality of decision making process at the end of the day (Chiregi & Navimipour, 2016) Another important mechanism is to ensure that all the data is complete and contains all the required attributes that will ensure there is proper data that will used in the decision making process. Also, there is need for the data to be consistency and this means that all the attributes should be uniform and all the instances and references from the set of data (Pearson & Wegener,2013). Thus, all the data collected need to be accurate and all values be consistent form the source. Finally, there is need to have a unique demonstration of the records that will need to be represented within the data sets and this will remove the element of duplicates at the end of the day.
References
Chiregi, M., & Navimipour, N. J. (2016). A new method for trust and reputation evaluation in the cloud environments using the recommendations of opinion leaders' entities and removing the effect of troll entities. Computers in Human Behavior, 60, 280-292.
Pearson, T., & Wegener, R. (2013). Big data: the organizational challenge. Bain Co.
Response1:
Post 2:
Top of Form
Recommendations that IT managers group collectively provide
In the modern workplace, Information Technology Managers (IT Managers) plays a vital role. IT managers helps to implement and administrate technology within their organization. He gives proper direction to the organization, the communications system and the structure. He ensures that the long-term objectives are translated into concrete plans of actions and understood and supported by people working at various levels. Other responsibility of the manager is a system of communications which enables managers throughout the organization to be aware, and the manager responsible for the systems stay informed of the changes that are taking place (How do Managers (Leaders) Contribute to an Organizations?, 2012). Below are some recommendations that an IT Managers provide:
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Innovation is needed by every human resource to be able to think creatively in producing quality performance in order to realize the vision of the organization. Of course, innovation is supported by competence and talent management. The application of creativity in the form of new and/or different ideas/ideas that can make a form/model/activity/product/service simpler, easier, more efficient and more effective.
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In this review we collects insights from academic research, leading analysts and consultancies and observe related case studies, to come up with best practices for the implementation of innovation in organizations. We review models for innovation leadership, culture, innovation strategy and goals; discuss mechanisms for learning and knowledge sharing, and review the required set of incentives and rewards. Focusing on Innovation challenges we collect insights and best practices regarding strategy alignment, management support, idea generation and commercialization, speed, lean processes, innovation events and sharing platforms as well as innovation metrics. In search for optimal innovation implementation methods, we review studies on high performing companies and present case studies on how innovative companies implement innovation in their organization.
The 130 page PPT report “Organizational Innovation: Implementing innovation in organizations” is targeted at innovation stakeholders and aids in structuring the organization towards effective innovation.
This is a sample report.
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A minimum of 100 words each question and References (IF NEEDED)(Re.docx
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Innovation Capability for Sustainable Competitive Advantages
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Discussion 1Post 1Top of FormToday, data quality and privac.docx
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