Corporate Innovation and Entrepreneurship : Assignment

Corporate Innovation and
Entrepreneurship

EXECUTIVE SUMMARY
The present report described the use and importance of Creative thinking and Innovation
within Matchbox Architects. It identified that there are many issues and problems faced by the
company such as over budget of business functions, unproductive meetings, Fire fighting and
under on quality. It is also identified in this report that an organisation needs to focus on
motivating employees for developing unique ideas and plans for betterment of its functions as
well as improving performance. This report also stated that the demand for problem solving has
enhanced due to which in current business environment management needs highly unique ideas
or insights to discover suitable solutions to avoid any type of obstacles or barriers for obtaining
success.
Creative thinking and innovation helps a company to design a highly productivity and
profitable organisational system within a competitive marketplace. This study also determined
various approaches and theories related to creativity and innovation at workplace such as
Componential theory, Interactionist perspective approach, Model of employee creative action
and concept of cultural difference and creativity. The report also examined that all these theories
can help Matchbox Architect to design and implement new ideas, methods and innovative
working practices which can help in achievement of business goals or objectives effectively.
Various steps of creative thinking and innovation were also discussed in the this
examination such as Writing down all ideas, tough problems to solve, increasing knowledge
which can assist the cited firm in developing and implementing unique plans for their business
easily. Furthermore, the report also included a recommendation plan for Matchbox Architects
consisting activities such as Brainstorming, Asking “What if” questions, Fostering collaboration,
role playing scenarios and Provocation techniques which can help in developing creative
thinking among employees working in the organisation.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
ANALYSIS......................................................................................................................................2
Creativity, innovation and corporate entrepreneurship..........................................................2
How organizations might effectively orchestrate organisational systems to promote and
sustain creativity, innovation and corporate entrepreneurship and manage change..............3
Start-ups needs to consider challenges and opportunities as the organisation grows in size. 5
CONCLUSION................................................................................................................................7
RECOMMENDATION...................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The corporate innovation and entrepreneurship approach is created to assist an
organisation or company for developing unique and problem solving abilities along with the
skills to identify trends, determine opportunities and make strategies for enhance highly effective
ideas. According to Achilov and Shaykhutdinov (2018) the concept on innovation is linked with
creative thinking and problem solving ability of an employee or entrepreneur while operating its
business functions. It is very essential for any business owning a firm to have effective skills
such as innovative thinking and designing, problem solving and motivating employees. In order
to overcome various issues raised in a company and increasing competition in the market every
entrepreneur requires to have these skills.
The present report is in context to Matchbox Architects (MBA), a successful architecture
firm in UK. It was established in the year 2009, with a aim of performing vibrant RIBA
Chartered practices dedicated to the delivery of impressively designed spaces and building. The
entire team working in MATCHBOX ARCHITECTS are trained and perform effective functions
for creating well designed buildings reflecting personalities or brands of their clients (Achilov
and Shaykhutdinov, 2018). Due to increase competition and cost of operations it was essential
for this cited organisation to make various innovations such as implementation of Top down
versus bottom approach, promotion of creating thinking in each and every level or function of
the organisation etc.
The report will also focus on strategies or plans to address current issues and problems
faced by MATCHBOX ARCHITECTS for example – Unproductive meetings, over on budget,
low quality and so on. This report will also determine various contemporary theories assisting in
analysing organisation system or structure of Matchbox Architects in detail. Main aim and
objectives of this report is to identify the importance of corporate innovation and creative
thinking within entrepreneurship to eliminate various issues related to a business (Tschimmel
and Santos, 2018).
Creative thinking and innovation in a business is very essential in achievement of
organisational goals and objectives. The need for problem solving has increased due to which
management issues require highly unique ideas or insights for finding suitable solutions to avoid
any type of obstacles or barriers for obtaining success. In other words creativity refers to skill or
ability for producing new as well as different ideas and innovation can be referred as
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implementation of that creativity. Creative thinking or skills is a key force behind innovation and
looking at things from a different point view. These unique ideas can developed from business
partners, customers, employees, market experts etc. It is very important for organisation such as
Matchbox Architects to encourage their employees to think out of the box, engage them in
decision making process, take feedbacks and allow them to exchange new ideas related to
business functions, organisational system and behaviour. In order to analyse and identify
significance of corporate innovation within the cited firm for achieving success and eliminate
various issues or problems related to current marketplace, business environment and structure of
the company.
ANALYSIS
Creativity, innovation and corporate entrepreneurship
Creativity is that ability to generate ideas and possibilities of which is useful into problem
solving and communication with people and employees so that they could be entertaining
themselves and others as well. This will include all type of thinking and ideas that will be
discovered by identifying with many problem and opportunities (Malinowski and Howkins,
2018). So it is required that each of the business are having their chance of fighting with their
competitors on local and global level as well. There need to be new ideas generating from
novelty which the ability of person to come with whole new idea with unique solutions to the
problems which are identified. Creativity also includes doing new things with the old objects so
there include certain steps of improving the creativity of mind like that of:
 Writing down all ideas- This will include mentioning each of the new ideas which are
coming into mind of person so that they could look upon to these ideas and looking upon
to them carefully.
 Tough problems to solve- there are many things which each organisation would need to
learn and include which are generally new to them all (Tschimmel and Santos, 2018).
This means that indulging into more problem solving activities or creating new idea to
make decision about how to indulge employees within organisation.
 Increasing knowledge- This would be meaning that company is indulging themselves into
more market research activities so that they are able to gain more and more information
about their product and choice of customers as well. Employees working into companies
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must be more into gaining and obtaining information so that company is able to use that
data.
These are some of steps which will engaged organisation into having more creativity
knowledge that will be based on intense market research. Whereas innovation will be doing up of
things with an ability to apply all creative solution to problem with having opportunity so that
they could enhance organisational working with enriching live of people. Innovation is regarded
to as the most important of company like that of Match Box Architects which is specialising in
engineering of buildings and shaping the future of UK. They are inspiring the younger
generation with their great idea and innovation with ethical designing and social responsibility as
well (Innovation in business, 2016).
As both creativity and innovation will be resulting into entrepreneurship and management
of change as well. It is required by MATCHBOX ARCHITECTS to be creativity in their idea so
that they are following code of conduct and having better designing process as well. There are
many characteristics of entrepreneur which need to be followed and important for MATCHBOX
ARCHITECTS as well.
How organizations might effectively orchestrate organisational systems to promote and sustain
creativity, innovation and corporate entrepreneurship and manage change.
According to Taylor and While (2017), it was included that creativity and innovation are
both important for any type of business and this will be especially working for MATCHBOX
ARCHITECTS as well. Innovation and creativity will be leading to attain all organisational
objectives and determine which type of entrepreneurial activity is done. It is required that all
entrepreneur are setting themselves for higher challenges which are easily attainable with use of
innovation. As MATCHBOX ARCHITECTS is mostly using and promoting innovation among
their employees and organisation as whole so that they are been able to manage change. It was
included by Tschimmel and Santos (2018), there are many ways which will be included by
company that is encouraging innovation within their management and production of goods.
Various ways to encourage innovation within MATCHBOX ARCHITECTS will be
helping them to be ahead of competition and then taking their business to whole new level only.
So companies must be following many theories or models which are based on creativity and
innovations.
Componential theory of organisational creativity and innovation-
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Inner motivation, expertise and creative thinking skills as per Quinn (2018), which are
most important components which will be contributing into creativity among team. Thus they
will be having wider working environment which is influencing creativity of employees with
impact of motivating managerial practices, resource including both human and financial with
innovation as well (Innovation in business, 2016). The underlined model of creativity is very
important as per the role of motivation which is influencing working environment of
MATCHBOX ARCHITECTS.
Interactionist perspective of organisational creativity
As per the view of Serrat (2017), it was included that there are more complex and hard
relationship between or working environment of all level of organisation. There are many level
of creativity of which will be having resulting from conditions under which they are working.
But at the level of will be aligned with that of team creativity so that there is interaction between
all members of group.
Model of employee creative action-
According to Rivas (2017), there will be argument based that either employees will be
taking up all sort actions which they are doing on daily bases or they will be starting something
new. As per this particular model there are 3 type of factors which are influencing decision
making process of like that of motivation, knowledge, skills and sense of making process. This
will be resulting into inclusion of all these factors and if there is lack of any of the above
included points then they could engage into creativity. Fabian (2018), included that all sort of
motivation will be creating same of regular type of actions so that future goal of are determined.
Rather Mumford and McIntosh (2017), argued about this model that it is not attracting any type
of attention of researchers due to complexity of this framework.
Cultural difference and creativity-
This is the most common question which needs to be answered including that is there any
sort of difference between cultures or creativity that will be having positive implication for the
practice of management. There are inclusions of many sort of cultural difference that are on
creativity of creativity which is having relationship between values of and their creativity as
well.
Thus it is noticed that it the duty of organisation that they are including many type of
innovation and creativity so that are changing their lifestyles. Sloane (2017), included that
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innovation and creativity both are linked to entrepreneurship which will then be leading to
change of management. For this organisation need to follow or bring about many sort of changes
so that they could be having so that they are promoting sustainable innovation. Creativity will be
having more long term impact onto development of company with including success of
organisation (Turner and Pennington, 2015). Managing changes are that type of process which
include many type of changes and innovation within organisations so that they are using
creativity and indulging into innovation as well.
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Start-ups needs to consider challenges and opportunities as the organisation grows in size
According to Kuratko, Hornsby and Hayton, (2015) every business requires effective
strategy and plans in order to accomplish its desired goals and objectives. A lot of challenges are
faced by start-up businesses as they are new in the market and successful firms are already
operating in that particular sector effectively. In addition to this, opportunities are also available
for them to expand their business in terms of increasing profitability and production. A lot of
chances are there for a new venture in order to expand their business and productivity such as
increasing sales by promotional activities, improving quality of products and services by
recruiting qualified and skilled employees, training and development programs etc. this will help
to towards business success and accomplishing desired goals and objectives. Firm at the initial
stage of starting requires a lot of time for overall management and increasing effectiveness of
operational activities. As organisation grows, it requires talent to ensure right programs and
benefits are used. It is big achievement for many entrepreneurs Del Giudice and Della Peruta,
(2016) to start a new firm but managing and controlling activities involved in operations is the
larger challenge.
This includes hiring right people to build business a brand soon effectively.
Entrepreneurs also faces challenges such as cash flow management which is very important for
business survival and many of the entrepreneurs struggle to pay the bills, hiring employees for
production activities, time management, delegation of tasks and marketing strategy. In addition
to this, strapped budget, capital management and choosing what to sell are also some issues
affect perception and motivation of entrepreneur which have a significant impact on firm
efficiently (Kuratko, Hornsby and Hayton, 2015). There are some common issues such as
uncertainty about the future, financial management, monitoring performances, technology
development, exploding data competencies and recruiting right talent and customer service faced
by both business and entrepreneur which is essential for growth and development.
Turner and Pennington, (2015) stated that there are many ways from which the
entrepreneur is able to solve business challenges such as taking time to describe problem clearly
and effectively, challenging the definition from all angles, multiple possible solutions, making
decisions right and assign responsibility as well. An entrepreneur requires creative thinking in
order to expand business that they are known for thinking outside the box. In addition to this,
they also act as a leader within firm in order to guide and lead people working under to improve
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their performances. Innovation is a strategy used by business in order to increase effectiveness of
their products and services. They are also able to create different product which is not yet exists
within market by using unique selling concept. This will help to make a difference between
competitors and business so that customers can easily recognise with product available in the
market. Innovation also refers to adding something new or effective to existing process or
product that helps to achieve speed, efficiency, convenience and comfort. This helps to maximise
creative assets within firm. Clear sense of direction changes minds and make a clear sense about
target of firm to speed the journey.
Open communication between employees and management sets stage for an atmosphere
of trust. A more trusting culture could be made by entrepreneur that employees are not able to
take the first step (Sahut and Peris-Ortiz, 2014). Leadership qualities and process for open
communication use information to be shared on a regular basis. Communication is a key for
employees and manager to understand various things effectively in order to manage operations
and further activities. Ownership creates a strong incentive for inventive thinking. Once
employees are clear and aware of their interests within firm, they have a better reason for
working hard in order to achieve their employee goals and objectives. Risks and failure of tasks
is a common part of operational activities that encouraging innovation is an important part of
growth and development of workers. They are not able to take risks until they understand their
roles, responsibilities and goals effectively.
Sahut and Peris-Ortiz, (2014) stated that the role of management is very crucial for
business in terms of innovation and other activities that can enhance performance of employees
and business to achieve desired goals and objectives. Task engagement could be increased by
imposing time pressure. Time management is very important for creativity that it helps to
provide high performance in an obsessed world. Only a few firms believe that they understand
their culture within operations and how it can affect them positively. Improving feedback process
of business is a saving for money and time. Feedbacks are the actual demand of customers in the
market and also things which should be noticed by business and management in order to improve
and develop. Reward and incentive also shapes performance of workers that it helps to motivate
them for their best performance which also has a positive impact on other employees. There is a
big drive toward decentralising workplace structure by empowering the front-line with more
autonomy. Motivation is required at all levels that help to keep people on their toes. Different
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working styles, procedures and viewpoints are important to see solutions for any issue. Proper
tools and techniques are required to enhance effectiveness of operational activities to achieve
profitability and production targets. Innovative team within business also deliver high and
quality performance to business that helps to satisfy customer needs. Thus, adding value,
creativity and innovation within business helps to improve overall performances effectively.
CONCLUSION
The above report concluded that it creativity, innovation and corporate entrepreneurship
is very essential as well as beneficial for each and every business or organization. It includes
writing down all ideas, tough problems to solve, increasing knowledge etc. Creative thinking and
innovation in an organisation is very important in accomplishment of business goals and
objectives. The demand for problem solving has enhanced due to which in current business
environment management needs highly unique ideas or insights to discover suitable solutions to
avoid any type of obstacles or barriers for obtaining success.
This report identified that as both creativity and innovation leads to success of a business,
MATCHBOX ARCHITECTS needs to be creativity in their ideas so that they can follow better
code of conducts and have better designing process. It is also identified from the above report
that there are many ways to encourage innovation within MATCHBOX ARCHITECTS will be
helping them to be ahead of competition and then taking their business to whole new level only.
So companies must be following many theories or models which are based on creativity and
innovations such as Cultural difference and creativity, Interactionist perspective of organisational
creativity, Model of employee creative action and Componential theory.
Furthermore, discussion related to different theories and models of innovation identified
that underlined model of creativity is a very significant factor responsible for motivation which
also affects working environment of Matchbox Architects (Del Giudice and Della Peruta, 2016).
The above report also helped in preparing and developing an effective plan for cited organisation
in order to encourage innovative thinking with a different view of creativity. In company creative
or innovative thinking is promoted through removed the restrictions from working function and
culture, conducting training program for each and every employee and giving them technical
knowledge, management support staff members to think creative for growth and innovation
which helps in generating different views to complete desired or clear objectives of the
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company. It is not at all easy for employees or workers to apply various innovative ideas in
organization, they faced many barriers and restrictions.
Employee blocks, emotions, worker mind-set, cultural values etc. are few limitations in
the way of creativity. Business environment creates various types of barriers in creativity or
innovation which creates disturbance within a company like lack of good working condition,
noise, office culture for workers. These restrictions control such barrier for creative thinking of
any type of organization. Business use creative problem solving model to create new method for
promoting innovative and creative thinking. Significant recommendations for the company have
been also included in this report which can help MATCHBOX ARCHITECTS to encourage and
promote creative thinking and innovation in the business.
RECOMMENDATION
According to above discussion it can be stated that Matchbox Architects needs to develop
effective strategies for implementing creative and innovative ideas within their business
functions (Tschimmel and Santos, 2018). There are various ways to improve activities performed
by employees working in an organization and encourage them to develop unique ideas and plans
for achieving goals or objectives effectively. It is very important for the company to focus on
each and every employee of the firm such as top-level, medium level and low-level. Different
types of activities can be designed and implemented to promote innovation within business
functions or activities. Recommendation plan for Matchbox Architects can be described as
below -
Activities Priority level Time-scale Resources
Brainstorming
sessions
High 7 days Managers,
Professionals and
employees
Asking “What if”
questions
Medium 10 days Employees ,
Interviewers and HR
Fostering
collaboration
High 10 days Top level management
, Employees and
Managers
Role playing scenarios Low 5 days Customers, Employees
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and HR
Provocation
techniques
Low Innovation in business,
2016,2 days
Marketing team, IT
team and Employees.
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REFERENCES
Books and Journals
Achilov, D. and Shaykhutdinov, R., 2018. Creative thinking and collective mobilisation in the
Muslim world. Religion, State & Society, pp.1-23.
Del Giudice, M. and Della Peruta, M.R., 2016. The impact of IT-based knowledge management
systems on internal venturing and innovation: a structural equation modeling approach to
corporate performance. Journal of Knowledge Management 20(3) pp.484-498.
Fabian, J., 2018. Creative thinking and problem solving. CRC Press.
Kuratko, D.F., Hornsby, J.S. and Hayton, J., 2015. Corporate entrepreneurship: the innovative
challenge for a new global economic reality. Small Business Economics 45(2) pp.245-253.
Malinowski, B. and Howkins, J., 2018. Creative ecologies: where thinking is a proper job.
Routledge.
Mumford, M.D. and McIntosh, T., 2017. Creative thinking processes: The past and the
future. The Journal of Creative Behavior, 51(4), pp.317-322.
Quinn, V., 2018. Critical thinking in young minds. Routledge.
Rivas, P.G., 2017. Strategies for teaching and dissemination of artistic heritage by promoting
critical and creative thinking among future Primary Education teachers. Procedia-Social
and Behavioral Sciences, 237, pp.717-722.
Sahut, J.M. and Peris-Ortiz, M., 2014. Small business, innovation, and entrepreneurship. Small
Business Economics 42(4) pp.663-668.
Serrat, O., 2017. Design thinking. In Knowledge Solutions (pp. 129-134). Springer, Singapore.
Sloane, P., 2017. The Leader's Guide to Lateral Thinking Skills: Unlock the Creativity and
Innovation in You and Your Team. Kogan Page Publishers.
Taylor Buck, N. and While, A., 2017. Competitive urbanism and the limits to smart city
innovation: The UK Future Cities initiative. Urban Studies, 54(2), pp.501-519.
Tschimmel, K. and Santos, J., 2018, June. Design Thinking applied to the Redesign of Business
Education. In ISPIM Innovation Symposium (pp. 1-11). The International Society for
Professional Innovation Management (ISPIM).
Turner, T. and Pennington, W.W., 2015. Organizational networks and the process of corporate
entrepreneurship: how the motivation, opportunity, and ability to act affect firm
knowledge, learning, and innovation. Small Business Economics 45(2) pp.447-463.
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Online
Innovation in business, 2016, [Online]. Available
through:<http://www.innovationmanagement.se/imtool-articles/a-process-for-innovation-
planning/>
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