Ashar Jamal Paracha

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Assessment Task 1
Knowledge Questions
Answer#1
Thirty years ago, innovation was not the trendy topic it is now. We must take care to prevent marketing
departments from appropriating the phrase and stealing its genuine meaning. Innovation is a problem-
solving process that must continue as long as difficulties and impediments are there. When describing
the result of this process, the word "innovation" is frequently employed, and this is where we need to
be cautious. We must distinguish between the process and the result, which is frequently the
consequence of putting into practice a commonsense solution (one of many) that comes from a never-
ending effort to comprehend the issue more thoroughly.
The innovation process starts the minute we pause to ask questions to learn more about the issue at
hand, the moment we set our preconceptions aside (or even realize them), and the moment we look at
the issue from fresh perspectives. In addition to challenging the status quo and normal operating
procedure, questions open a small window to more information and data. As we get more knowledge,
we may work to create a stronger solution, but as we put that solution into practice, we learn new facts.
And so does the invention cycle.
I have too much to say on how many industries and sectors have transformed in the last thirty years
(and how many more are still undergoing significant upheaval). I'll thus keep it to the first three ideas
that occur to me for each of these five topics:
• Impact on Economy:
Nowadays, entrepreneurship relies heavily on innovation as new technology fundamentally alters
traditional business structures, technologies, services, and cultural norms. Entrepreneurs have made
conscious and deliberate attempts over the past ten years to invent and promote novel, disruptive
products.
• Impact on Culture:
The benefits of diversity of opinion and viewpoint to any innovation culture are only now beginning to
be understood.
• Impact on government:
The benefits of diversity of opinion and viewpoint to any innovation culture are only now beginning to
be understood.
• Impact on global development:
Emerging markets are starting to develop new technologies, tools, and services that will have a
significant influence, both to suit their own local requirements and to serve a worldwide market.

Answer#2
• Disruptive innovation:

When a smaller firm enters the market at the bottom and keeps moving upwards, it might threaten an
established corporation (sometimes referred to as a "incumbent"). This process is known as disruptive
innovation.
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Innovations known as disruptive technologies fundamentally change how markets, industries, or
enterprises function. Because it possesses characteristics that are unmistakably superior to the systems
or practises it replaces, disruptive technologies sweep aside their predecessors.

• Dual innovation:

The dual innovation theory focuses on two factors—the mobility of information and technology and the
openness of the innovation system—that have a significant impact on an innovator's capacity for
creativity and serve as a foundation for the long-term growth of the innovation system.
Exploitative and exploratory innovation are both included in dual innovation of firms, which highlights
their balanced development. Exploitative innovation builds new goods on top of current ones using data
and expertise from consumers, other businesses, and the market. Exploration innovation, in contrast,
entails a greater time and financial commitment as well as a higher level of risk. Exploitative and
exploratory innovation complement one other to increase the efficacy of innovation initiatives and may
help businesses develop by giving them durable competitive advantages.

• Open innovation:

A corporate management strategy for invention called "open innovation" encourages cooperation with
individuals and groups outside the enterprise. Open innovation challenges represent a genuine cultural
shift away from the corporate silo mentality and the secrecy that have historically been associated with
corporate R&D cultures. When the business recognizes that there are many intelligent individuals and
larger expertise outside the corporation, this innovation model becomes practical. Currently, there is a
greater chance than ever to draw in those outside people and/or businesses. Companies use a variety of
strategies to execute open innovation methods, including corporate collaborations, university research
chairs, crowdsourcing competitions, and innovation ecosystems.

• Design thinking:

Design thinking began as a method for developing cutting-edge new goods and technologies. However,
this technique is now widely applied in both the public and commercial sectors, for both professional
and non-professional projects, all over the world.
Organizations are able to provide consumers with enduring value because to design thinking. Because of
this, the approach is helpful in any complex system not just design systems.

Answer#3
Numerous academics think that firms will face major internal and external changes as a result of
globalization. In fact, the modifications have a significant influence on the organization's productivity
and other management activities, demanding the creative and imaginative minds that may propel them
to higher levels of development. Although to varied degrees, the researchers point out that many
employees—possibly all of them—have some degree of creative potential that the company may be
unable to tap into in order to enhance productivity.
Additionally, how the company responds to an employee's creativity and invention may demoralize
them, prevent them from accomplishing the goals, or inspire them to go above and beyond with such
creative ideas. The Jenga theory of creativity, systems theory, functionalist theory, interpretative theory,
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radical humanism theory, and radical structuralism theory are only a few of the ideas that researchers
have employed to describe the notions of creativity, invention, and change.
Creativity and innovation inside well-managed businesses have long been

Answer#4
• Directive leadership:
In situations when there is no direction, directive leaders create structure. These managers clearly
communicate what must be done in order to accomplish goals. There isn't much space for speculation or
uncertainty.

• Participative leadership:
Through participation in decision-making, a participative leader develops human aptitude, ability, and a
sense of responsibility. Participation in decision-making fosters psychological empowerment, self-
efficacy, and the perception that employees are important assets to the company.

• Transformational leadership:
A greater level of participation in the work of subordinates is produced by transformational leaders.
Higher efficiency and satisfaction as a result of this participation boost management and organisational
performance. Theoretically, transformational leadership is associated with a number of organisational
outcomes in a beneficial way.

• Innovation leadership:
Innovative leaders have bold ideas and imaginative visions, but they also possess the ability to inspire
those around them to make those ideas a reality. It's not necessary for innovative leaders to be the ones
that come up with the idea for an invention.

Answer#5
In order for businesses to adapt and face the difficulties of change, innovation is frequently required. It
encourages development Stability might be really harmful to your company. In today's fiercely
competitive environment, innovation is essential to achieving organizational and economic progress.
Innovation can provide important advantages. It is one of the essential abilities for succeeding in any
line of work. You may use it to overcome obstacles, make money, expand your market share, and
outperform rivals.
Advantages of innovation in business:
Some of the key practical benefits of innovation are:

• Improved productivity.
• Reduced costs.
• Increased competitiveness.
• Improved brand recognition and value.
• New partnerships and relationships.
• Increased turnover and improved profitability.
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Answer#6
External and Internal Conditions:
Numerous internal and external influences might have a positive or negative development on how
inventions arise. Firm size, market structure, the level of industry concentration, and macroeconomic
variables are examples of external influences.
Firm internal factors that influence their innovation behavior. Many of these studies take the resource-
based perspective (RBV), which emphasizes the diversity of organizations and the significance of internal
factors in business strategy. According to this viewpoint, every company has a distinct collection of
resources and capabilities that it has amassed and developed through time. The level of efficiency and,
consequently, the strategic choices made by organizations, such as whether to engage in innovation, are
further influenced by their unique resources and capacities.
• Firm Size:
In manufacturing and profit-making organizations, as opposed to non-profit organizations, size of the
firm tends to be more positively related to innovation. The relationship between size and innovation will
also be stronger if non-personnel or a long transformation measure of size has been applied, as opposed
to application of a personnel or a raw measure of size.

Answer#7
Following are the typical risk strategy used to identify, assess and manage risks associated with
innovation in an organization:
• Recognize risk as an opportunity
Even while we tend to shy away from taking chances, they may be advantageous and lead to novel or
inventive solutions to challenges. Risk-taking may also lead to the discovery of a previously unidentified
problem's solution. Trying something and having it not work might help you come up with better ideas
for alternate tactics.

• Assess your risks and risk acceptance levels early

As soon as you can, evaluate your risks. Utilize a joint strategy because there are several varieties of
dangers (technical, business, safety, legal, etc.). Get opinions from both individuals on your project team
and those outside of it, especially if they come from diverse backgrounds and areas of expertise.
Identifying your stakeholders' level of risk acceptability is also crucial.

• Eliminate or mitigate your biggest risks first

This is the most crucial recommendation I can make because it is frequently disregarded. Eliminate or
reduce the major risks upfront to prevent them from totally derailing the project later. It's known as "fail
quickly, fail often." Working on features that have a high likelihood of success and minimal risk at the
beginning of a project might result from an overabundance of excitement.

Answer#8
Following are the five (5) examples of innovation drivers in an organization:
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• Make Everyone Responsible for Innovation:

Make it everyone's responsibility to innovate. They may add to the production of new value no matter
where they are in your value chain. They require the innovation-related abilities and resources to
accomplish their jobs successfully. Give that instruction. They require help while utilising these abilities.
even if they mess up! Think of productivity as an invention. Everyone aspires to be successful. They are
given the knowledge and resources to increase their productivity. Managers assess them based on their
output.

• Develop Innovation Processes that Everyone Can Use (Process):

Processes in innovative firms foster creativity. They both employ a systematic creative approach as
individuals and teams. There are numerous, including TRIZ, Design Thinking, and Lean Six Sigma. The
Universal Creative Process is the method we found to be the most reliable. Its seven processes assist
you in selecting the appropriate problem to address, producing a ton of ideas, improving those ideas,
prototyping the best ideas, developing an execution strategy, and tracking progress.

• Go Beyond Developing Products (Offerings):

Big breakthroughs go beyond simple items. Large-scale innovations change channels, processes, or
services. For instance, the iPod was more than just a stylish device with the ability to load music.

• Create Teams that Support Innovation (Team):

Innovation is a personal responsibility, but no one person can drive it. To be innovative, a team needs
members. A creative team requires a lot of effort. Everyone must continue to be observant, modest, and
diligent.

• Welcome New Ideas (Psychological Climate):

People will come up with additional ideas when you accept their fresh ones. This does not imply that all
of their ideas are sound, though. That's okay; excellent solutions begin with lots of brainstorming,
followed by evaluation and selection of the top ideas.

Answer#9
Following four (4) examples of innovation enablers in an organization:
• Vision:
A captivating vision is one of the most effective accelerators for innovation. A vision must provide a
workable solution to an issue facing customers, whether it be new or old, in order to be appealing. My
boss had an inspiring vision for what our innovation Center might evolve into, what it could do to quicken
the development of creating new products, and how it could encourage a more inventive work
environment at our firm.

• People:
Without the inventive brains and the drive of individuals with a purpose, innovation cannot occur.
Intrapreneurs benefit from using the principles of Lean Startup to rethink their work. I've observed how
the principles of Lean Startup instill a strong sense of enthusiasm in workers and open up fresh
opportunities for engagement.
• Resources:
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Internal startups and intrapreneurs frequently face resource limitations as a result of their nature. Of
course, money is a valuable resource, but it's also necessary to consider other resources like tools,
materials, time, and expertise. Large businesses are infamous for their cumbersome finance methods and
bureaucratic processes. Because of this, intrapreneurs may choose to fund modest expenditures on their
own rather than through the standard procedures for getting senior management's permission.

• Environment:
Another crucial innovation facilitator is a welcoming atmosphere and culture. The innovation Center
acted as a type of holding tank to draw and keep intrapreneurs close to one another. As a result,
communication between internal start-up teams became much more frequent and high-quality. Daily
serendipitous occurrences were place in this cooperative setting. These events at first seemed a little like
magic.

Answer#10
Following are the four (4) mechanisms that can be implemented at the system or policy and
process level to support innovative practices:
• Collaboration:
To accomplish tasks, collaboration is necessary. Challenges are more complicated in today's 24/7 global
and digital environment; it's crucial to break down silos and involve more varied brains in decision-
making.

• Ideation:
Innovative fresh concepts make your business stand out. Organizations must stand out to thrive in the
fierce struggle for resources.

• Value Creation:
If your novel concepts don't add value, you don't have innovation. Organizations must put into practice
the concepts and strategies that have been shown to benefit stakeholders.

• Implementation:
There is no lack of discussions about how technology is altering life and how advancements are being
put into practice at breakneck speed. The work being done at Social Compact is one example in the field
of community development.

Answer#11
Following are the five (5) of the typical challenges and barriers to innovation within an
organization:

• Politics/No Alignment:
The complexity of an organization's internal politics increases as it expands. Because of this, smaller
firms frequently find it simpler to innovate than larger organizations.
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As a result of the extensive internal adjustments that may be necessary to implement a new innovation
program, certain staff functions may improve while others may deteriorate.

• Cultural Issues:
Innovation and risk go hand in hand. You need to break a few eggs to create an omelet, as the saying
goes. Unavoidably, innovation will result in some failures, and for certain firms, any slip-ups are
unacceptable.

• Inability to Act on Signals:

Recognizing the need for the change in the first place is a big part of putting into practice an inventive
new product, service, or technique. According to KPMG, CEOs ranked the inability to respond to warning
signs of market change as the third biggest barrier to innovation.

• Lack of Budget:
It can be challenging to gauge the effects of innovation because it is a continuous process with
frequently long-term objectives. With people in charge of allocating the firm budget, this can result in a
frustrating back-and-forth since if innovation takes time to produce, funding may be reduced. However,
if innovation funding is curtailed, it will be next to impossible to achieve.

• Lack of Strategy, Vision:

The advantages of innovation are widely known to many businesses. For those businesses, being
relevant is crucial, and they actively promote disruption.

• Overcoming these barriers:

Making every effort to avoid these five obstacles can assist in creating the ideal environment for
creativity inside your company.
Keeping this in mind, each firm is different, and there is no magic solution or formula that will ensure
the success of an invention. The AWS study lists a number of additional, less frequent barriers to
innovation in addition to these five, such as a lack of executive backing, poor recruitment, and several
others. Knowing your company thoroughly, warts and all, may help you decide which problems are most
likely to occur when you launch or grow your innovation program. Utilizing innovation's potential may
enhance an existing successful firm and make it even better.

• References:
https://www.wework.com/ideas/professional-development/creativity-culture/what-
is-design-thinking#why-is-design-thinking-important
https://medium.com/nucognitive/https-medium-com-daniel-walsh-four-innovation-
enablers-for-intrapreneurs-in-large-enterprise-a5432b0da400
https://www.innovation-asset.com/blog/9-challenges-hindering-innovation-in-your-
organization