Corporate Innovation and Entrepreneurship - Doc

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Corporate Innovation andEntrepreneurship
EXECUTIVE SUMMARYThis report is encompassed for critically analysing the way enterprise may effectivelydirect organisational system to promote and sustain innovation, creativity and corporateentrepreneurship to manage change. Appropriate action plan of Matchbox Architects (MBA) isgiven for enhancing innovation and critical thinking skills in the firm. Innovation and creativityare competitive necessities for an organisation.In this report, analysis of creative thinking and innovation is done. Process of creativethinking is identified and eventually the opportunities of creative thinking and innovation in afirm are determined. Report also identifies various individual blocks or other barriers tocreativity that an organisation faces while idea generation or creative thinking. Blocks andbarriers exist at individual and organizational levels.Using details from live project, for solving various problems or challenges, company usesCreative Problem Solving (CPS) Model which was framed by Alex Osborne and Sidney Parnes,who were two pioneers in the area of creative thinking. Then how Matchbox Architects promotecreative thinking within the organisation, followed by conclusion and recommendations is given.Convergent and divergent thinking tools are used as well. It has been suggested that to foster keybehaviour conductive to creative thinking, wide sets of methods and tools must be used withincompany. Creativity must be promoted within Matchbox Architects for effective idea generationand problem solving through brainstorming, providing training and mentoring to employees orstaffs, setting specific objectives or goals, being supportive, etc. are recommended to companyfor having better productivity and sustainability.Environment must be created within company where innovation and creativity canflourish. Social, organizational and personal benefits are to be engaged in organisation for bettercreative thinking. Convergent and divergent thinking tools should be used or implemented withinorganisation. Approach based on solution for problem solving Design Thinking methodology isto be used for designing decision process in an organisation. Further, inspiration, ideation andimplementation are steps that are to be included in this process.
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ANALYSIS......................................................................................................................................2Opportunities of creativity and innovation.............................................................................4Challenges or barriers to creativity and innovation................................................................4Architects as qualified professionals vs. effective/contemporary leadership or management6Creative Problem-Solving Model...........................................................................................7Design Thinking.....................................................................................................................8Top down versus Bottom-up approach...................................................................................9Promote creative thinking.....................................................................................................10CONCLUSION..............................................................................................................................11RECOMMENDATIONS...............................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONAccording to Drucker (2014), creativity refers to the act of generating new andinnovative ideas for business and then turning it into reality. It is an ability of an individual toperceive different aspects in new way for getting solutions or ideas for problems or challenges.Creativity is one of the most vital leadership qualities required for success in business.(Creativity and innovation, 2017). In this report, critical analysis of how business mighteffectively organize organisational systems for promoting and sustaining innovation, creativityand corporate entrepreneurship to manage changes in enterprise are discussed.This report states various opportunities and blocks or barriers to creativity that occurs inorganisation. Critical evaluation of creative thinking skills by using various models andapproaches such as Creative Problem-Solving Model, Design Thinking and Top down versusBottom-Up Approach is given. The aim and objective of this report is to give a recommendationsto Matchbox Architects by using different approaches and models for improvement based onconclusion, stating how value can be added to organisation.Matchbox Architects is a vibrant RIBA Chartered practising architectural company,devoted to deliver well designed buildings and spaces. It was incorporated in 2009 andheadquartered at Chaff House, Strixton manor, Strixton, Northamptonshire, UK. Withincommercial, residential and industrial sectors, company has a holistic and sensitive approach forsustainable design. Matchbox Architects has brought value to their design process using theirbase of technical knowledge and experience.Innovation and creativity are very much important for an organization to survive orsustain their business. With creativity, new ideas or opinions can be taken from employees as itencourage them to think out of the box.Throughcreativity, effective and cost efficient methodcan be determined for solving problems. Creativity and innovation brings improvement in theprocess of problem solving.One of the barriers or obstacle to creative thinking is lack of clear objectives or goalswith written down detailed action plans. When an employee becomes crystal clear about whathe/she has to do and how to achieve those, their mind gets creative and better plans can be made.Through creative thinking, an organization can retain its competitive position in the market.Innovative thinking and managing new kinds of issues help to manage personal obstacles that1
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