MANAGING INNOVATION

Managing Innovation



Summary

The paper discuss about the importance of creative and innovative management in our given organization Tesco Plc. This paper analysis defined different task that relates to the efficiency and managing innovation as being the Organization Development Officer in Tesco. There are total four tasks to be performed and the evaluation will be based on those factors. The aim is to critically evaluate the current practices at the target organization in forecasting the demands of the firm. It was observed that for Tesco, the efficient planning for workforce is being considered as very necessary factor of the organization is aiming to meet its future demand for the staff. Tesco's main objectives are to grow the core UK business and a successful international retailer and, in striving to meet these objectives they need to accept challenges and risks. Changes in the environment in which companies operate normally, have produced a series of innovations aimed at redesigning or streamlining of existing processes many years ago and to this perspective, the Company proposes to adapt the systems in order to provide the management tools to facilitate the achievement of strategic objectives, known as "Management Control". In managerial decision making one is concerned with behavior that is designed to cause things to happen or not to happen. Thus, important thing to keep in mind is that mistakes are acceptable if they aims for enhancing learning, and solid thinking for what will work or what will not and they are being caught early before the damage is being served. It is a fact that management leads to become important that are concerned with the implementing innovation, since management relaters to defining the goal more clearly and implementing the strategy effectively.



Summary2

Introduction5

Discussion and analysis5

Aims7

About The Company7

Task 18

a)Organizational Core Competencies8

Value creation8

Technological Factors8

Environmental Factors9

Capabilities9

Leading and Embracing Innovation and Change10

b) Innovation and Changes10

Anchor Innovation in Strategy10

Build An Innovation Culture On Participation11

Organisation Structure &Innovations11

Task 211

A)Influence Of Vision And Mission On Generation Of Creative And Innovative Management Processes11

Tesco Mission Statement11

Strategic Innovation12

Effective Internet Marketing Strategy13

b)Analytical Tools To Identify Potential Innovative Ideas13

Analytical tools to identify potential innovative ideas14

SWOT of Tesco14

c)Risks And Benefits Of Creative And Innovative Management Ideas15

Technological Risk16

Market Risk16

Organizing Risk16

External Environment Risk17

D) Using Change models18

Task 319

A)Characteristics of Main Groups of Stakeholders Producing a Rationale to Persuade Stakeholders of the Benefits of a Creative and Innovative Idea19

Stakeholder Analysis for Tesco20

Competitors20

McKinsey's 7 S20

STRATEGY (Strategy)20

STRUCTURE (structure)20

SKILLS (Skills)20

SHARED VALUES (Shared Values)21

SYSTEMS (Systems)21

STYLE (Style)21

STAFF (Personal)21

B)Evaluating the communication of a creative and innovative management idea to stakeholders of an organization21

C)Feedback from Stakeholders to Identify Key Goals and Priorities for Innovation23

Focusing on Customers23

Allow Enough Time23

A)Overcoming Barriers24

De-bunking the Myths of Innovation24

The New Product Myth24

The Breakthrough Idea Myth24

The Creative Chaos Myth24

The Creative Individual Myth25

B)Plan a Strategy to Overcome These Identified Barriers25

C)Explain how the strategy plan will help overcome resistance26

Conclusion27

References29

Managing Innovation

Introduction

One of the most important and critical activities of organisations is to make decisions. The decision might involve the strategic direction of the organisation or just simply deal with the day-to-day activities of ...