Self Study

Pablito Nolasco

Student#: 5840

BSBSTR601 Manage innovation and continuous improvement

Watch and research

 How can innovation aid in continuous improvement?

Answer: Innovation is essential for fostering the ongoing development of an organization's

different components, including its products, procedures, and overall performance.

 Why is innovation important for a company that aims to continuously improve?

Answer: In order for a firm to adapt, expand, and prosper in a constantly shifting business
environment, innovation is a critical component of continuous improvement. Long-term success
and sustainability of the business are eventually facilitated by it, which also develops
competitiveness, efficiency, and agility while raising customer and employee engagement.

Which types of brands or companies do you view as innovative and admire? Why?

Answer: Technological advances and innovative business strategies are just two examples of how
innovation can manifest itself. These businesses are frequently admired for their capacity to upend
the established order, resolve difficult issues, and enhance the standard of living for people
everywhere. The general public's perception of these businesses might vary, and discussions
concerning the social and ethical ramifications of their breakthroughs frequently take place.

Practical Activity

Think about a current system you have in your personal or work life. Brainstorm a series of
innovative ideas you could use to improve the current system.

Answer:

* AI-Powered Task Prioritization

* Gamified Productivity

* Virtual Assistant Integration

* Collaborative Task Management

A personal task management system can be considerably improved with these novel ideas, making it
more effective, interesting, and flexible to users' needs and preferences.
Research
Research a company that uses one of the following continuous improvement theories:

 Kaizen

Answer: Toyota is one organization that actively practices Kaizen, a Japanese principle of continual
improvement. Toyota is recognized for its adherence to the Kaizen principles, which have been crucial
to the company's success and have had a significant impact on how many other organizations
approach continuous development. Kaizen is the Japanese word for "continuous improvement."

Japanese meaning "change for the better," kaizen places an emphasis on gradual and ongoing
improvement throughout all areas of an organization's operations. Toyota has incorporated Kaizen
into its corporate culture and production methods, leading to the following important behaviours and
principles:

 Lean

Answer: Toyota is one renowned business that has incorporated Lean ideas and theories of
continuous development. Lean manufacturing has become a cornerstone of Toyota's business
operations and philosophy, and the company is frequently credited with developing and popularising
the concept.

Lean is based on the Toyota Production System (TPS), which was created by Taiichi Ohno, the
founder of Toyota, and has since been widely embraced by businesses across all industries. Lean
aims to give value to customers while using the fewest resources possible by reducing waste,
increasing efficiency, and optimizing operations.

 Six sigma

Explain how the company works using one of these theories.

Answer: General Electric (GE) is one well-known business that has effectively applied Six Sigma, a
continuous improvement technique. General Electric is a multi-national conglomerate with a
distinguished history and a wide array of industries, including power, renewable energy, aviation,
and healthcare. The company's dedication to Six Sigma has proved crucial in enhancing operations
and boosting productivity.

Under Jack Welch's leadership as CEO in the 1990s, GE started using Six Sigma. He adopted Six Sigma
as a way to boost customer happiness, lower defects, and improve quality. Black Belts and Green
Belts were used, along with significant financial investment in Six Sigma training and certification for
the company's staff. These belts are those in charge of directing initiatives for process improvement
who have had significant training in the Six Sigma technique.

Review

Review your assessment requirements for this unit and read through your Project Portfolio so you
know what you will be required to do. Make sure you review your Student Guide if you need to
revisit some areas of your training. Ask your trainer any questions before you begin your assessment
to ensure you understand all of the learning and are ready to be assessed.
Reflection
 Information learned during your training

Answer:
I learned the fundamental ideas behind managing innovation and constant development. A
comprehensive strategy that incorporates leadership, culture, strategy, creativity, and data-driven
decision-making is necessary for successful implementation. Effective management in this field also
requires meeting customer wants, adjusting to change, and taking ethical and governmental
considerations into account.

 Your main key “takeaways” from this unit

Answer:
1) Innovation and Continuous Improvement: An Understanding
2) Innovation Strategies
3) Models for Continuous Improvement
4) Corporate Culture
5) Change Administration
6) Management of Risk
7) Stakeholder Participation
8) Making Decisions Based on Data
9) Considering Legal and Ethical Aspects
10) Assessing Success
11) Skills in Communication

 What did you learn that you didn’t know already? How can you apply this in your study/work/life?

What did you find challenging or confronting? How did you overcome these challenges or barriers?

Answer:

From promoting an innovative culture to overcoming change resistance, managing innovation and
continuous improvement entails many different factors. To handle these issues successfully and
implement the concepts in your professional or organisational environment, it's critical to
consistently learn and adapt.