MGMT223 Management | Reflection on Personal Innovation Capability

There are three aspects to this assessment:

Section A is a summary of an interview with an entrepreneur/innovator.

The selection of the individual to interview is left up to the student but it is expected that they will find someone who is useful in terms of developing their own understanding of concepts of managing  Students are expected to adequately address the following questions in this section:

a.Why did you select this individual tointerview?

b.What insights did you gain from talking tothem?

c.What will you do differently based on yourdiscussion?

d.What advice could you offer thisentrepreneur?

e.As well as provide a summary of the date and time of the interview, length of the interview, format of the interview (i.e. in person, phone or video). Please note email “interviews” are not appropriate for this activity, you need to have a discussion with the

Section B (15% - 1600 words)is a personal innovation capability audit where students reflect on their own skills and plan how they intend to develop these going 

This section will be marked according to two aspects:

Reflection: Using the assessments completed during the semester, as well as data from other sources (e.g. feedback from others, past experiences, etc.) students are required to reflect on their innovation capabilities. Provide insight into where data was gathered from and discuss perceived strengths and areas for

Planning: Students are required to develop a plan of how they intend to maintain/develop their capabilities on an ongoing basis. Students are required to discussstrengths in terms of innovation management and also how they will capitalize on these strengths going forward. In addition, students need to consider which skills and capabilities they should focus on  Plans for how to develop these skills should be laid out using the SMART framework (S = Specific, M= Measurable, A=Aligned, R=Realistic and T=Time bound).

It is appropriate to write this section from the first person perspective (e.g. “I have identified…”)

Section C is a toolkit for innovation management which covers an overview of the models of innovation; selection and application of the most appropriate model that suits the entrepreneur interviewed and his/her industry; and advice for the entrepreneur moving forward.

Based on all of the content covered throughout the unit and own research, students are required to identify and briefly describe the key models and frameworks for effective innovation management. Using a table for this section of the paper is recommended.

Answer:

Section A

Background to the interview 

Management of innovation refers to the process of combining innovation procedures with that of change management. In order to understand and gain insight into the various concepts pertaining to innovation management, I was required to interview an entrepreneur. The entrepreneur I chose is Alastair Coleman, who founded the company “Nothing but Web”. In the past few years, the company started by this man has turned out to be one of the most prominent firms in the field of website design and development. The company is based in Melbourne and helps their clients develop professionally designed and exemplary websites. They also provide web and data related solutions to their clients.

Analysis of the interview 

I had shortlisted a number of entrepreneurs and innovators for my interview, which included some experienced business owners as well. However, I decided to proceed with Coleman because his background fascinated me. Coleman is currently the senior digital strategist and founder of the company. The company provides marketing and website development solutions to the clients. Coleman believes that innovation is the only means of achieving the strategic goals of his company. The main reason I preferred him over experienced businessmen is because he would be able to give me insight into the contemporary world of entrepreneurship and innovation. Moreover, a younger and more enthusiastic entrepreneur would be more inclined towards innovation and management of innovative practices within his organization. The interview took place a week ago and lasted for approximately one and a half hours. I insisted on a face to face interview because it would help me understand his perspectives better. The interview began with me asking general questions about him and his background. This put him at ease and he soon began to talk to me freely. I gradually proceeded to ask questions on what made him leave his job and start his own company, how he came up with the idea and the business strategies he implements at his organization. I also asked what made him consider his organization to be an innovative one and what the various innovation management practices are that he employs to ensure optimized results.

From the interview and what the interviewee said, I gained a clearer understanding of what innovation management is and what innovation really means in an organization. According to him, innovation is about doing something new, something that has not been thought of previously. However, he asserted that innovation would not be simply about discovering new things. He claims that true corporate innovation lies in being able to uncover new ways of doing things. His business in the information technology industry is not a novel concept. There are several others who have started similar businesses before. Yet, he stands out because of his innovative practices and innovative ways of managing business. From the interview, I also understood the difference between innovation and creativity in an organization. While the terms are often used interchangeably, they are quite different when it comes to business. For instance, creativity may be defined as the critical thinking capabilities of an individual which enables them to discover new and improved ways of dealing with conflicts and problems. It also provides new opportunities for growth. Innovation takes it one step further and converts these novel ideas and concepts into reality. I also understood that simply incorporating innovative practices into an organization will not be sufficient. Instead, an organization would have to implement effective innovation management practices as well. However, there are a couple of things that I would do differently. For instance, I would ensure first that my existing management practices are improved and enhanced. I would try to come up with ways of revamping these existing practices and optimizing to such an extent that they yield generous profits for my firm.

Based on my understanding of innovation and innovation management, there are three recommendations that I would like to offer to the entrepreneur I interviewed. One, the thin line of difference between an innovative practice and invention must be highlighted. Invention, which refers to the process of creating something that did not exist previously, is rarely found in business. Innovation, on the other hand, is the process of discovering new ways of doing old things. I believe that an entrepreneur should be more focused on the latter than the former, because innovation can help improve the management process and increase the revenue outcome for an organization. Two, I would advise him to have a chief innovation officer or a chief sustainability officer. The role of this person would simply be to look into the innovation management practices at the organization and ensure that they are implemented in a smooth manner. Three, I would advise him to remember that his innovative practices should be customer oriented. At the end of the day, the main purpose of a firm is to ensure that the needs and demands of the customer are met. While innovation drives the business strategy of the company, the customer should be the goal in mind when it comes to innovative practices.

Section B

Reflection on personal innovation capability 

The interview compelled me to reflect on my own personal innovative capabilities. I attempted to do so based on what others think of me, since that would give me an objective account. I spoke to my school teachers and my university professors. I had also briefly interned at a firm for a period of six months. I spoke to my supervisor there as well. I asked these individuals to objectively review my work and comment on my innovative capabilities. These are my perceived strengths based on the data I gathered:

• Innovative capability in an individual refers to the ability to do things in a different and more creative way. I believe that I have always been able to think out of the box. Even in school when we had to work on group projects, I preferred to do things in a different manner than the other groups. I always try to come up with more efficient and convenient ways of dealing with situations placed before me.
• I also consider myself to be suited for leadership roles. I have functioned in several leadership roles before – both in university and at my internships. I have had to lead groups of people on projects and assignments. I followed a flexible leadership style that allowed me to deal with situations and issues as they arose, enabling me to adapt to the situation. I also have the ability to stay calm under pressure, which helps me think with clarity. I am thus able to devise innovative new ways of dealing with problems and conflicts in projects and assignments.
• My supervisor commented that I was able to consistently deliver a high level of performance. I believe this is mainly because I am excited and passionate about every task that comes my way. I consider each project or each situation to be an opportunity for growth or something to learn from. This motivates me to innovate and work on chalking out new strategies and methods of tackling old issues.
• I usually have a different outlook in the case of challenging situations. I am optimistic by nature, which enables me to look at the bigger picture and the brighter side of things. I always look for the silver lining in such situations. This provides me with a visionary perspective on issues and obstacles.
• I am also open to change. I believe that every aspect of our lives is dynamic in nature. As a result, we are constantly subject to change. Even in an organization, frequent changes are implemented to improve operations and optimize business processes. Most of the people are usually resistant to any kind of change. On the other hand, I believe that embracing change would help me progress and succeed. I generally take proactive stances in such situations, which is usually much appreciated.
• I am also very thorough when it comes to research, solutions, presentation or any such aspects. Whenever I am assigned a task or a project, I prefer to carry out significant research before proceeding. I like to have sufficient data and resources that would make my work easier in the long run. My ability to focus on details helps me enhance my innovative capabilities.

However, the data I gathered also shed light on room for improvement. Focusing on these skills would help me develop my innovative capability for the long run.

• I would have to work on my communication skills. My superiors said that although I had some good ideas and demonstrated creative thinking, I often failed to communicate my ideas effectively. In order to be an innovator, one needs to have proper communication skills and persuasion power. An innovator should be able to convince the others about the potency of his ideas in order to win them over. I would thus have to start working on my communication and persuasion skills. This would also enable me to inspire others and motivate them on a similar path.
• I lack experience, which would have further enhanced my effectiveness and efficiency in terms of work. I would like to gain more professional experience which requires me to exercise my critical thinking and evaluation powers.
• Another problem I encountered, according to my teachers and supervisors, was team effort. I preferred to work alone; instead, I should be able to collaborate with other members of the team. With more people working towards the same goal, there would be a diversity of knowledge and greater flow of creative and innovative ideas.
• I would also like to work on my analytical skills. This would help me tackle any kind of situation with ease and without hassle. I should also be able to take more risks. Innovation requires some amount of risk on part of the innovator. A person would be required to devise new ways of operations and managing situations. This would be dicey, because it has not been tried before. If I were to work as an entrepreneur in the future, I should be able to take calculated risks.

Planning for improvement 

Innovation management refers to the ability to effectively manage the various processes of innovation and that of change management. A person who is an innovator should be efficiently able to manage business processes in such a way that it paves the way for innovative capabilities. Some might consider innovation to be an innate quality; however I believe that one can always work on developing these skills. Here are some of the strengths that I have identified as important for innovation management:

• Persistency – An individual should be persistent and dedicated to his line of work. He should be passionate about what he does and should strive to come up with new and innovative methods of doing the same old things. The innovative individual would also have to be persuasive in nature so as to convince those around him of the importance of change.
• Change management – This is another important characteristic of an innovative individual. Innovation of any kind would involve change on some scale. This could be change in business models or business processes. Thus, effective change management practices would have to be implemented for innovation management.
• Diligence and curiosity- These are two other characteristics of innovation management. A person, in order to be innovative, should be curious about whatever he sees around him. He should be diligent and committed to the task in hand. He should constantly strive to discover new ways and methods and improve existing methods.
• Leadership – Innovation cannot be implemented in the workplace without effective leadership. There has to be a strong leader, who is guided and directed by the vision and mission of the organization and is capable enough to lead the other members of the organization. An innovative leader would be able to inculcate the same in his subordinates as well.

As mentioned in the previous section, there are three skills that I would like to work upon. I have identified that four major strengths or traits are essential for an innovator or an innovative entrepreneur. I have mentioned earlier that I have faith in my leadership skills, yet I need to work on my communication skills and understanding of change management. I intend to take necessary measures to improve the same. I will be applying the S.M.A.R.T framework to accomplish these goals.

Specific

I want to work on my communication skills so that I can effectively convey my ideas to those around him. I realize that simply having innovative ideas would not suffice. I need to be able to deliver the message to those concerned and also convince them about the need for innovation. I also want to gain more insight into the practices of change management so as to prepare myself for leadership roles in the future. I would also like to exercise my innovative thinking capabilities more frequently. This would ensure that I am able to come up with new ideas and am able to develop a new perspective on every situation that I am faced with.

Measurable

I hope to be able to work in an innovative organization in the future, like Nothing But Web. I would want to exercise these acquired capabilities in all roles in my future. I know I have the potential to make progress in such fields and have faith in my analytical skills. I am always looking out for new ideas and concepts which would help me attain my goals. I hope to be able to practically use my knowledge on change management so as to derive maximum results from them.

Attainable

My goals are simple, straightforward and attainable. I want to hone my communication skills and gain more knowledge on change management and its relationship with innovation management. I intend to take coaching sessions for communication, which would help me convey my ideas to my peers in a clear, convincing and concise manner.

Relevant

My goals are, without a doubt, relevant to the subject of innovation management. In the future, I would like to work in innovative organizations, where I am given an opportunity to come up with new ideas and concepts every day. That would be the ideal occupation for me. Apart from innate qualities, there are certain other things I would need to work on, as mentioned earlier. Working on these goals would prepare me for my career in the long run.

Time bound

I plan to accomplish these goals over a period of the next six months so as to prepare me for future roles.

Section C

Overview of innovation management theories and models 

In an organization, innovation management refers to the practice of managing the innovative procedure (Volberda, Van Den Bosch and Heij 2013). It begins with the conception of a novel idea and ends with the implementation in the final stage. Innovation management would entail the various activities, decisions and practices which would help in the implementation of innovation strategies (Martin De Castro 2015). The main purpose of innovation management is to create a sustainable culture of innovation and creativity in an organization (Buschgens, Bausch and Balkin 2013). In an era of technological advancement, the need of the hour is to innovate more and quickly, so as to promote growth for the organizations (Caniels and Rietzschel 2013). There are a large number of theories and frameworks which regulate the process of innovation management (Spieth, Schneckenberg and Ricart 2014).

One of the earliest models of innovation management would be the linear model of innovation. This model suggests that innovation in an organization is a linear process. Technical changes or innovations happen in an organization starting from invention, before it moves to innovation and diffusion (Kasempap 2014). This theory claims hat scientific research is of prime importance in the case of any kind of innovation. However, such a simplistic model of innovation was deemed simplistic. Accordingly, a number of other theories and models have been devised. For instance, one of the most common models of innovation management would be that of the quasi competitive model. The model was introduced by Amendola and Musso a few years ago and it discusses the various aspects of innovation management with respect to competitiveness. According to this model, competitiveness of an organization would depend on its innovative capability. Innovative means would help in the reduction of distribution and production costs and would enable organizations to penetrate new markets (Casadesus?Masanell and Zhu 2013). This model claims that innovation in an organization cannot be a spontaneous decision. It does not simply encompass the adoption of new business models, new technologies, new products or new organizational forms. It is rather focused on the substitution of the old with the new which is a time consuming process.

Disruptive innovation is another concept that can be used in innovation management. This theory was developed by Clayton Christensen and studies why certain traditional large scale companies lose to smaller ones (King and Baatartogtokh 2015). The theory states that if a small scale company can disrupt the existing market of that industry by offering products or services that are new or an improved version of the existing ones, they can overtake large scale companies as well (Christensen, Raynor and McDonald 2015). However, there is a common misconception surrounding the theory since it claims to disrupt the existing trends of the market. On the contrary, the practice of disruptive innovation would improve the market by introducing better quality and more enhanced products and services. Another major theory of innovation management would be that of open innovation. Open innovation may be defined as the utilization of purposive outflows and inflows of knowledge in order to aggravate the process of internal innovation (West and Bogers 2014). It would optimize the use of internal and external resources in an organization so as to enable both external and internal innovation. Implementing the theory of open innovation would mean that the company would become vulnerable to the market trends. Closed innovation processes would make use of only the internal resources of an organization. On the other hand, an open innovation system is all encompassing and takes into account both the internal and external resources of an organization (Felin and Zenger 2014).

Another important framework in corporate innovation and creativity is lean innovation management. This framework would help companies work in more agile and flexible ways as compared to traditional ways of project management (Khan et al. 2013). It encourages the use of cost effective methods, allocation of small budgets, a strong feedback system, building of MVPs or minimum viable products and prototypes and change management if the need arises. This kind of innovation management would be most suited to small scale companies or companies with limited resources. Such a lean approach to innovation management would drastically reduce costs involved in the process and simultaneously ensure the fulfillment of company objectives.

(Figures: Theories and models of innovation management)

Application of innovation management theories to chosen organization 

The entrepreneur interviewed was Alastair Coleman, the founder of Nothing But Web, one of the most well known companies in Australia dedicated to website development and design. However, it must be asserted that the industry is quite condensed at present with numerous companies providing the same services. Although Coleman has introduced practices of innovation management, it would be beneficial for the company to incorporate disruptive innovation as part of its management. Disruptive innovation would create a ripple in the market and introduce improved versions of existing products and services. These are a few reasons why disruptive innovation would be good for the business:

• Such an innovative practice would enable the organization to launch new products and services into the market. It would also provide the company with the opportunity with the scope of improving upon existing products to offer customers something different and more appealing. It would also provide the company with the opportunity to penetrate newer markets.
• Current practices in the industry would be exposed and placed under scrutiny. This would highlight the weaknesses in the organization processes and also shed light on room for improvement.
• The practice of disruptive innovation would open up the company to a plethora of opportunities. Basically, the company opens itself up to more horizons. By adopting a practice that innovative and creative, the company would be able to improve upon existing market products and develop something that has not been thought of before. When a company plans to grow and expand, they have two opportunities. One, they can take an existing practice or product and improve it to pave the way for sustainable innovations. Two, they could pose a challenge to a competitor, disrupt the market and overtake its customers. Sustainable innovation is one that would improve the conditions of the market and challenge existing, conventional notions of other companies.
• It would also create a favorable reputation for the organization in the market and amidst the customers. The company would promote itself as having a positive learning community which is open to change and new arenas.
• Any kind of innovation starts out as a mere proposition. They are then discussed, evaluated and finally given shape by the senior management of the organization. The plan for innovation and the final outcome are often two quite different entities. Hence, such innovation practices may be implemented with the support of an effective business planning process.

Application of the theory to the organization 

• A definite system of innovation will have to be maintained. When a new idea or concept is proposed, the real life implications will first have to be weighed and evaluated. This can be done by the senior management of the company, including Coleman himself. An effective planning process has to be incorporated. This is why the recommendation for a chief innovation officer was made in the first section. Such a department would entirely be responsible for the innovative practices within the organization and would see it from start to finish (Schneider and Spieth 2013). A budget would also have to be allocated for successful implementation of disruptive innovation. This would comprise funding for development and further research.
• The employees of the organization need to be on board. It is the duty of the board of directors at Nothing But Web to motivate and inspire the employees of the organization in favor of the innovation (Kam Sing Wong 2013). It is also important to boost the morale of the employees and encourage them to come up with new and creative ideas which would promote the quality of products and services offered by the company.
• Change management is another important aspect of such an approach. Implementing any kind of innovation within the organization would require some sort of change, which is usually met with resistance. It is the duty of the organization leaders to lead the change and guide the organization in this aspect.
• Teams would have to be formed within the organization for this specific purpose. The team members would be entrusted with the responsibility of creation, strategizing, evaluation and execution of innovative projects. Clear guidelines and directions would have to be presented to these teams for successful implementation (Laursen and Foss 2014).
• Training programs would have to be incorporated. Such training programs would train the concerned parties in entrepreneurism, change management and disruptive thinking. Such training programs would ensure that each member of the organization is on board. Moreover, it would encourage all members of the organization to think out of the box and come up with innovative and novel ideas which would benefit the organization in the long run.

Conclusion:

To conclude, it can be said that innovative management or management of creativity and innovation in an organization is of utmost importance. It would include management of every practice and approach associated with innovation and corporate creativity. As part of the report, I was asked to interview an entrepreneur who is reputed for coming up with new, innovative practices. I interviewed Alastair Coleman, who helped me gain better understanding of the concepts of innovation management. It became clear to me that innovation in an organization should be customer oriented. Moreover, innovation is not simply about developing new products or practices. It should focus on developing new ways of doing old things or working upon the existing products and services. The report also consists of a self reflection section, where I emphasized on my own innovative capabilities and highlighted room for improvement. The report also studies the various models and theories pertaining to innovation management, like disruptive innovation, open innovation and certain models like the quasi competitive model of innovation. The report also recommends the theory of disruptive innovation for Coleman’s company because it would improve the quality of performance and market positioning of the organization.

References

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King, A.A. and Baatartogtokh, B., 2015. How useful is the theory of disruptive innovation?. MIT Sloan Management Review, 57(1), p.77.

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