Introduction to Business Administration Slide 7

Introduction to Business Administration

Session 7 –Bringing innovation into the business setting

1. Characteristics of a creative business environment
 
a) Freedom
•The ability or opportunity to exercise some freedom in the business environment is critical to the creative process.
•The option for creativity grows not so much from freedom in what we do, but how we do our work.

b)Encouragement
Management must provide encouragement for the development and exploration of ideas. A status quo mentality, or an inability to accept new ideas, will not promote an imaginative culture.

c)Recognition
Rewards or salary structures in which employees progress in orderly increments over a long period of time may generate loyalty rather than achievement.
The challenge for businesses is to provide a range of measures and rewards such as peer recognition, different work opportunities, a better working environment and access to equipment.


d) Desire to achieve a creative culture
- Must understand imagination and how it works.
- Should ensure there are no non-examinable rules.
- Offer opportunities for growth.

2. Building innovative capability

a) Ensuring the commitment of the leadership team
The key to building an innovative business organization is firstly to ensure the constant commitment of top management. Top management must ensure it is willing to be committed to the goal of becoming an innovative business unit.

b)Ensuring adequate management capability
It is important that the managerial leadership has enough horsepower to get the work done.

c) Identifying key skill gaps
Taking the time to understand and identify the gaps and how they can be filled is an essential part of top management’s role.

Barriers to Innovation

a) Underestimating what is required
It is not unusual for top management to underestimate the extent of the change needed to become an innovative enterprise and the adequacy of capabilities to achieve the task.

b)The organizational web
Businesses need to exhibit flexibility and adaptability in order to compete effectively.

c)Identifying strands
• What is it that makes someone come to work?
• What is it that really excites and motivates the workers?

d) Fear of failure
One of the most significant reason why creativity is unrecognized is the fear of failure or the fear of an idea not living up to the complete promise.

e) Inadequate resources for the change process
Many businesses struggle to access resources. Moreover, good help rarely comes cheaply.


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