Professional Documents
Culture Documents
PROJECT
PORTFOLIO
STUDENT VERSION
BSBSTR801
LEAD INNOVATIVE THINKING
PRACTICES
Contents
Assessor:
21october2022
Date:
Prime TM 100
Organization this
assessment is based
on:
Documentation
reviewed as
preparation:
2 Research innovation:
2.1 Choose at least one past and one current innovation theory. Compare
and contrast these theories and the associated thinking behind these
theories.
One The Diffusion of Innovation (DOI) Theory, developed by
E.M. Rogers in 1962, is one of the oldest theories in social science. It was
initially employed in communication to explain how an idea or product gains
popularity before it diffuses (or spreads) among a population or social
system. Marketers frequently employ the principle of the spread of
innovations to encourage the adoption of their goods. When this occurs,
marketers typically identify a group of people who are enthusiastic about
the product early on. These early adopters are in charge of promoting its
usefulness to general audiences.
A foresight technique that can help us organize our future thinking in a way
that encourages creativity is the "Three Horizons" framework. It explains
the relative importance and relationships of three patterns or ways of doing
things, as well as how they change through time. The second horizon's
activity links the established pattern of the first horizon to the emergence of
fundamentally new patterns in the third. According to the diffusion theory,
time, communication, and social systems, also known as adopter
Categories, are the main elements that affect the adoption of a new idea or
product. According to the three horizon model, if you don't strike a balance
between all three viewpoints, you can't guarantee a bright future. By doing
this, you'll not only maximize your development potential but also reduce
the risk in your firm portfolio.
B. Critical thinking
It is easy to understand why critical thinking encourages innovation: it is
used when judgment is needed to get a desired set of desirable results.
Because of this, the majority of innovations arise in little advancements
built on well-considered concepts.
C. Change management
Both the execution of innovations and the adoption of innovation
management necessitate change. These changes won't succeed unless all
workers agree with them and the workforce is ready to change. As a result,
change management is a very important talent that every innovation
manager needs to have.
b. Judgement
Criticism and perhaps harsh judgment are common signs of fear about a
novel idea. People make fun of and mock what they don't comprehend.
Employees who have ideas are reluctant to share because they worry that
no one will like the idea. They are afraid of ridicule or the implications of
possible failure.
c. Policies by rules
Policies and procedures, rigid organizational structures, traditions, and a
culture of obeying the rules all prevent employees from participating and
stifle any innovative or creative initiatives.
d. Hard work
It frequently takes a lot of work or time to turn concepts from development
into results. The majority of businesses and employees are unwilling to put
in the necessary time or effort to finish a creative project.
b. Closed-minded leadership
Due to the alleged costs, delays, and hazards associated with innovation,
many managers are apprehensive. Yes, it can be challenging to assess
return on investment, and risks must be carefully considered. However, this
shouldn't make CEOs and managers overly risk-averse. Then again,
employees won't feel comfortable sharing their ideas unless they believe
management will do so.
b. Operational risk
Innovations don't always work out. While some don't achieve the desired
results, others succeed in surprising ways. The business might not be able to
meet its goals for quality, pricing, or timing.
B. Incentive structure
By offering financial rewards for innovative ventures, bonuses, like Google
does, or even potential equity in the product if it becomes successful, can be
a smart approach to influence culture. All of these can encourage your staff
to work on innovation projects, which will ultimately impact the culture of
the company.
2.5 Summaries at least four techniques and tools that can be used in your
organization to generate ideas and facilitate creative thinking.
The four techniques and tools that could be used in organization to generate
ideas and facilitate creative thinking are:
1. Brainstorming
Your ability to generate fresh ideas may be aided through
brainstorming sessions. They help you come up with additional
ideas, so they're especially helpful if you have a big team. Include
every member of the team or group, even if they aren't actively
working on the project or have jobs that don't frequently need
problem-solving. These people could provide fresh ideas since
they have different perspectives and may approach the issue
differently than you do.
2. Affinity Diagrams
You usually wind up with a ton of information that needs to be
sorted through and organized after a brainstorming session,
meeting, or research. The affinity diagram is useful here. Using
the affinity diagram, you can organize your data into themes. This
makes it simpler to identify connections and patterns among the
data you have acquired, enabling you to generate fresh concepts
or solutions.
4. Mind Map
The central idea of your brainstorming is where the mind map
begins. Lines connecting related concepts to the center. It enables
you to write down your free-flowing ideas and arrange them on a
canvas in a way that will later enable you to make new
connections and potentially find a solution. A more original way of
thinking is possible since it links text and a visual arrangement.
2.6 Identify three examples of leadership styles and discuss the impact on
innovation, specifically whether the style of innovation encourages or inhibits
innovation within an organization.
The three examples of leadership styles and their impact on innovation
are:
Innovation enablers:
The organization's ability to innovate is enabled by the leadership's
vision and support. Every team member in this corporation embraces
innovation, which improves organizational success. Similar to this, an
open mind and staff cooperation for innovative practice are also
organizational facilitators. Manage the risks associated with change for
Incremental, Sustainable and Disruptive Innovation
Time
Time is another essential resource for fostering innovation. You might
not consider time to be a resource as a business. You might not even
give time any thought other than the fact that there is never enough
of it. Do what you can, when you can mentality began to prevail as a
result, encouraging innovation to occur outside of the traditional 9 to
5.
Equipment
This equipment, whether it is software or hardware, is likely being
used for core business purposes. If an employee is not engaged in a
project assigned to them, they are often discouraged from using
workplace equipment or may not have access to it. Sometimes, even
if a company allows its team members to use the equipment for
innovative projects, it is only possible to do so when the equipment is
not being used for something “more important.”
Yes, the organization could use several innovative tools and services that
could enhance innovation and growth of organization.
Pros:
Easy to use
Cons:
Belt can be difficult to clean and generally does not leave a very
successful result
Sticky material can get stuck on the belt and transfer to the return
side, the rolls, idlers and pulleys.
6 Present the work you’ve done in this section as a written report to a relevant
stakeholder (e.g. Board of directors). Use the space below to list which
stakeholders will receive the report.
Note: Attach your report to this section of your portfolio.
The Written report table is given below:
Information sources ☐
Written report ☐
Attach:
Use the work you completed in Section 1 of your Project Portfolio and if
relevant, the additional information in the Simulation Pack to help you
complete this section.
1.3 An explanation how your leadership style already models (or should be
improved to model) positive innovative thinking and practice.
Note: Attach proof of your leadership style assessment to this section of your
portfolio.
Since group members are encouraged to voice their viewpoints,
democratic leadership may result in better ideas and more inventive
solutions to problems. Group members are also more committed to and
immersed in activities, which makes them more likely to be concerned with
the result. According to research on leadership philosophies, democratic
leadership boosts group members' productivity.
2 Develop and apply at least two strategies to make innovation an integral part of
your organization. Complete the table below (you have already identified the
strategies in Section 1 of your Project Portfolio).
Note: Attach proof of your developed and applied strategies. If necessary,
provide separate proof of a develop strategy (e.g. list of rewards) and how it has
Description of the How will you How will you How does the
strategy develop the apply the strategy
strategy? strategy? build/maintain
effective
working
relationships
The inventiveness
Giving the Not giving
and motivation in
precise external the team could be
Motivate employee to objective and intervention to boosted by
be intraprenuer make employee their work properly
act like within the communicating the
goals and
entrepreneur specific time objectives.
within the frame.
organization.
Ensure staff
Meeting and Not giving Ensure staff
psychological safety
discussion on burden of work psychology boost
board about the and keep them creative thinking
psychological away from and spread
state of staff. mental innovative
pressure. technique among
the team
member.
TO
The employees
Prime100
Thank You.
Proof of confirmation ☐
Use the work you completed in Section 2 of your Project Portfolio and if
relevant, the additional information in the Simulation Pack to help you
complete this section.
5 Complete the table below to identify, evaluate and manage at least two risks
associated with the option you selected as part of your stakeholder meeting in
the previous question.
Note: If your organization uses a specific template for risk management
planning, use that template and attach the completed risk management plan
to this section of your portfolio.
7 Make improvements considering the feedback from stakeholders and your own
personal analysis:
7.1 Develop at least one strategy to improve innovation in your organization.
Maintaining favorable culture in the organization. By practicing culture that
provide everyone with their freedom and choice of decision, it will engage them
in goal of organization. Therefore, I will try to maintain diverse networks of staffs
within one favorable culture zone.
7.2 Make at least one change to innovative practices in your organization.
Note: Attach proof of the changes to this section of your portfolio (e.g. amended
fact sheet).
I would like to implement creative working environment which inspire employees
to do their jobs more effectively.