ITC571 Emerging Technology and Innovation

1. Communication and promotion of cultural innovation are important methods for proper communication and development of the organization. Managers need to guide the team members to achieve organizational goals. Various communication styles like workshops, emails, focus groups, and videos are the modes that are used to communicate in our industry. Whereas, to promote a culture of innovation, our managers focus on staff loyalty and commitment, motivating employees to increase flexibility and adaptability; offering rewards based on performance and creative ideas (Aksoy, 2017).
2. Innovation is recognized by learning lessons from the competition and applying the same for a better outcome for the organization. The employees who actively take part in this method are rewarded with incentives and non-cash benefits.
3. Methods that could be applied to know the status of potential success or failure of an innovative idea would be past failure evaluation which would guide the right path to success and provide more modifications. Using SWOT analysis (strength, weakness, opportunity, and threat) would also identify the status of success and failure of an innovative idea. Other methods like communicating with employees, shareholders, and customer feedback, competitor research, and financial aid analysis would help determine what more innovative ideas could be applied to gain market share (Neumeier,2017).
4. Failure is one of the ways to develop more efficiency in an organization. With failure comes success, so if the business faces failure, then there should be a detailed market research analysis of why did the plan failed, what were the root causes that drove the idea to failure, how did physical events like important tools and machinery cause unexpected damages, how did systematic errors caused inefficiency of working practices, and if there was any human intervention that led to failure.
5. Continuous improvement strategies that are followed are rewards and accountability of the employees in the work environment, focusing on clear and distinctive communications, creating a vision for change where employees forecast their roles and responsibilities of their work culture, ensuring sustainability for the business, applying SEO strategies to gain improved search engines rankings (Swapna & Anuradha, 2018).
6. The strategies are well planned before implementing them on key business groups. The strategies comprise of ensuring sustainability, which focuses on the organization's long-term success; training is provided to the organization's representatives, which drives them to a positive outcome. Detailed market research is done based on consumer taste and preferences, making it more feasible for the business to produce the right product and service for the right customer (Caputo, Evangelista & Russo,2018).
7. The organization approves implementing innovative ideas by continuous improvement frameworks like Kaizen method where identification of process is involved, which delas with various improved strategies that could be implemented for better production (Santos et al.,2018). The use of total quality management is achieving the aim to satisfy customer demands and wants. In lean manufacturing, managers who are involved in implementing this method identifies the reasons for wastage.
8. Speed and efficiency could be improved by creating effective communication channels within the organization. Developing reasonable timeframes would also lead to systematic engagement of training employees would create motivation and flexibility to work effectively (Brodin & McLaughlin, 2019).

The methods that could limit negative impacts of change are investigation and detailed analysis of the emerging challenges. Knowing more about the rivalries approaches towards the market and providing training to employees on handling customer taste and preferences (Ahani et al.,2019). Other factors like managing emerging opportunities would rapidly advance in technological factors, making working in the environment more flexible than a traditional working environment.

1. Methods like contingency plans would store data about the success and failure of innovative strategies, which would decrease the effect of damages to property and tools. This would further secure employees' decision-making authority and promote healthy relationships in the working environment.
2. This information could be stored by using a contingency plan template where a type of event would describe what the event about was, the likelihood would investigate on facts of probability, what would be the potentiality of the impact and with appropriate responses which would apply to the staff members involved and how required resources were used to complete the task (Rauter et al.,2019).

Reference

Ahani, A., Nilashi, M., Yadegaridehkordi, E., Sanzogni, L., Tarik, A. R., Knox, K., ... & Ibrahim, O. (2019). Revealing customers’ satisfaction and preferences through online review analysis: The case of Canary Islands hotels. Journal of Retailing and Consumer Services, 51, 331-343.

Aksoy, H. (2017). How do innovation culture, marketing innovation, and product innovation affect the market performance of small and medium-sized enterprises (SMEs)? Technology in Society, 51(4), 133-141.

Brodin, T. M., & McLaughlin, M. K. (2019). Creating Powerful Personal and Professional Relationships Through Effective Communication. Journal of Family and Consumer Sciences, 111(2), 17-24.

Caputo, F., Evangelista, F., & Russo, G. (2018). The role of information sharing and communication strategies for improving stakeholder engagement. In Business models for strategic innovation (pp. 25-43). Routledge.

Neumeier, S. (2017). Social innovation in rural development: identifying the key factors of success. The geographical journal, 183(1), 34-46.

Rauter, R., Globocnik, D., Perl-Vorbach, E., & Baumgartner, R. J. (2019). Open innovation and its effects on economic and sustainability innovation performance. Journal of Innovation & Knowledge, 4(4), 226-233.

Santos, G., Afonseca, J., Lopes, N., Félix, M. J., & Murmura, F. (2018). Critical success factors in the management of ideas as an essential component of innovation and business excellence. International Journal of Quality and Service Sciences.

Swapna, B., & Anuradha, T. (2018). Achieving Higher Ranking to Webpages Through Search Engine Optimization. In Proceedings of International Conference on Computational Intelligence and Data Engineering (pp. 105-112). Springer, Singapore.

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