Bsbsus501 - Develop Wrkplace Assessment Answer

Assignment Task -       

conditions

Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A student can only achieve  competence when all assessment components listed under procedures and specifications of the assessment section are  Satisfactory. Your trainer will give you feedback after the completion of each assessment. A student who is assessed as NYS is  eligible for re-assessment. Should the student fail to submit the assessment, a result outcome of Did Not Submit (DNS) will be  recorded. 

Student should be provided with an appropriate time frame in which to resubmit their work, according to the RTO’s re-assessment  policy and procedure.

Instructions for Students

Please read the following instructions carefully 

• This assessment is to be completed according to the instructions given by your assessor. 

• Students are allowed to take this assessment home. 

• Feedback on each task will be provided to enable you to determine how your work could be improved. You will be provided  with feedback on your work within 2 weeks of the assessment due date. 

• Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge. You will  be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit of competency.  

• If you are not sure about any aspect of this assessment, please ask for clarification from your assessor. • Please refer to the College re-assessment and re-enrolment policy for more information. 

• Please provide required references of the sources, if you use any information from any sources (such as: learner book, power  point and online resources) to answer the assessment questions and make the required changes to justify that it is your own  work.

Questions 

1. What is innovation? 

2. Outline the differences between Incremental and radical innovation  

3. What are Key Performance Indicators and how can they be used to monitor performance? 

4. Outline the reasons for supplier evaluation. Why would businesses benefit from undertaking and  evaluation of their supply chain? 

5. Describe 2 performance management tools and their applications. 

6. What would you expect to find in a contingency plan? 

7. Describe 2 risk mitigation strategies. 

8. Innovation has been identified as the last competitive advantage available to organizations in a turbulent  and hyper-competitive global market. Therefore, a number of key drivers are needed to encourage and  foster innovation in organizations. What do these include?

1. Strategy for Innovation 

A clear and articulated strategy for innovation must be developed and accepted to encourage innovation  across the organization. Strategy development first requires an understanding of the business and its  environment, and should involve stakeholder input to ensure buy-in across the organization. Innovative  companies have a clear vision and core values that encourage the pursuit of organizational objectives,  including innovation initiatives. 

2. Innovation Leadership throughout the Organization 

Commitment and support from top management is the cornerstone of successful innovation. Management  influence is necessary to overcome the barriers to successful change, which innovators often encounter.  Identifying “champions” in the organization to drive the innovation agenda can make a significant difference to  innovation diffusion and adoption. Innovation champions can also provide the leadership required to stimulate  innovation throughout the organization. Effective change management will ensure that improvements will be  easily implemented. When top management is pro-active and becomes a catalyst for change, the organization  has a better opportunity to adopt an innovative culture. 

3. Culture and People 

Establishing a culture that is conducive to innovation requires building a work environment where trust, open  communication and teamwork are the norm. A team is capable of significant achievements because individual  abilities can be pooled towards achieving a common objective. The use of cross-functional teams helps break  down the barriers by transcending the existing organizational structure. An environment that encourages  participation, learning and fun allows new ideas to be generated and improvements implemented. Harnessing  the creativity of the workforce forms a critical component of an innovative culture. Therefore, professional  development of employees should include skills development in creativity tools and techniques. Other  characteristics of an innovative culture include, tolerance of ambiguity, challenging the status quo, asking  “Why?” and not being afraid to speak your mind. 

4. Tolerance of Risk 

The innovation process generally has an element of risk since any change involves uncertainty. Some  organizations are risk averse and usually struggle to become innovative. Organizations that incorporate a  higher level of risk tolerance in their business processes are more successful in adopting an innovative  climate. The downside of risk is failure. However, “failure is not built on success: success is built on failure”.  Sagacious or calculated risk taking is therefore the preferred option, because this implies that outcomes,  consequences and contingencies have been considered in advance. 

5. Open Communication 

The existence of free and open communication channels is favourable to innovation because it provides the  opportunity for ideas and information to be relayed throughout the organization. It is also important that, in  addition to vertical communication, an organization maintains lateral relationships between functional areas to  break down any silos. Collaborative information technology solutions, such as Microsoft Sharepoint or Lotus  Notes, encourage information sharing throughout the organization and provide a repository for  or knowledge and ideas. 

6. Flexible Operating Structures 

Establishing adaptive organizational structures, which are characterized as flat, organic and cross-functional,  is a key characteristic of innovative organizations. For example, 3M is a large global company that operates  small autonomous cross-functional business units to encourage innovation and participation. In an organic  structure job definitions are flexible, and both vertical and lateral communication flows exist. Power and  authority are generally shared across team members. 

7. New Ideas and Opportunities  

The continuous flow and capture of new ideas provides organizations with a source of new products and  services, product improvements, and novel processes that contribute to the organization’s survival and  growth. Creativity is therefore an important key driver of innovation by providing new ideas and new ways to  solve organizational problems. Organizations also need to adopt a formal ideas management process to  capture, develop, evaluate, protect and implement ideas and suggestions, which form the foundation of new  opportunities that satisfy needs and wants in the market. 

If organizations and their leaders readily embrace the concepts of innovation and successfully implement  innovation strategies and processes, they would have made the first steps towards achieving growth and  sustainability in the hyper-competitive global arena. Creativity is a skillset that, despite popular belief, can  actually be learnt and nurtured within an organization. Senior managers and leaders need to take responsibility to foster an internal culture that recognizes and supports creativity and innovation to ensure they  sustain their competitive advantage in the marketplace.

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