Geeti Swagatika Mishra

BIM1520BM032
Subject-Entrepreneurship
1. The Culture at HFL demands “involvement and communication” which plays an important
role to reinforce both the informal and formal techniques in an organization.
• The informal techniques reinforces formal techniques at HFL which mainly develop
around social or in project groups which enforce camaraderie among people that often brings
a more immediate response from individuals. David instituted informal techniques like
‘coffee and cakes’ sessions on Monday mornings to help communication and get people to
mix across boundaries and functions which results in building mutual trust and personal
relationships resulting in automated motivation among the employees at HFL.
2. The informal techniques reinforces formal techniques at HFL which mainly develop
around social or in project groups which enforce camaraderie among people that often brings
a more immediate response from individuals. David instituted informal techniques like
‘coffee and cakes’ sessions on Monday mornings to help communication and get people to
mix across boundaries and functions which results in building mutual trust and personal
relationships resulting in automated motivation among the employees at HFL.
The technology had been used for innovation and creativity for ideas. Every idea is posted
on the company’s intranet and staffs are invited to comment in a common HUB. The best
ideas might be taken forward by project teams.
• Business Intelligence Group, which is being used to trawl outside the world for
generating new ideas.
7. As in order to sustain in the market and to have a competitative advantage “change in
organization” is required. Change includes the cost, technology, and talent implications. It is
important to replace the senior managers who block change in an organization. Change
management is required:
• Enables the organization to sustain in the market along with the competitative
advantage.
• Expansion.
• It would fail to meet the needs of the loyal customers.
• Reduce growth opportunities.
The senior managers are the ones who must analyze the change and should apply the changes
in real. But if they are only reluctant to change and would sink then it will directly affect the
performance of the HFL and the objectives would remain.
3. Over the last decades, innovation and creativity have become critical skills for achieving
success in developed economies. The need for creative problem solving has arisen as more
and more management problems require creative insights in order to find suitable solutions.
Creativity goes hand in hand with innovation. And there is no innovation without creativity.
While creativity is the ability to produce new and unique ideas, innovation is the
implementation of that creativity - that's the introduction of a new idea, solution, process, or
product. Creativity is the driving force behind innovation and the incorporation of looking at
things from a different perspective and freedom of restrictions by rules and written or
unwritten norms.
 Geeti Swagatika Mishra
BIM1520BM032
Subject-Entrepreneurship
4. Creativity and innovation within a well-run companies have always been recognized as a
sure path to success. Stimulating creativity and exploring completely new and unknown
before territories lead as result to increasing the productivity of the organisation. Encouraging
the employees to think outside of the box and giving them time and resources to explore new
areas for innovative ideas is the key to cost-effective business solutions.
Creativity improves the process of solving problems. It doesn't matter if we're talking about
developing a new strategy or an innovative way to stay ahead of the competition. Creative
problem solving gives that competitive edge that any business is striving to achieve.
6. Hall himself is a great example of how to rise to the top job through hard work, strategic
intent and a willingness to embrace new challenges.
Hall began his career as a chartered accountant. He spent seven years with Deloitte in
Melbourne and London, then worked for several mining companies including Rio Tinto in
finance roles. Returning to Australia, he spent five years gaining treasury experience with
NAB and ANZ investment banking.
5. HFL uses what it calls a ‘strategy map’, divided into four interconnecting areas: customer,
reputation, people and finance. The aim in the ‘customer’ area is to become, or remain, ‘first
choice for analytical chemistry’ by improving loyalty, building relationships and innovating’.
HFL aims to be the best customer choice, but not necessarily the cheapest. To achieve this it
has to remain at the leading edge of its science and at the forefront of innovation. But
innovation need not always be scientific. So, for example, to help cement customer
relationships it set up a Customer Club for clients around the world.