Corporate Innovation and Entrepreneurship : Assignment
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Added on 2020-12-18
Corporate Innovation and Entrepreneurship : Assignment
Added on 2020-12-18
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Corporate Innovation andEntrepreneurship
EXECUTIVE SUMMARY The present report described the use and importance of Creative thinking and Innovationwithin Matchbox Architects. It identified that there are many issues and problems faced by thecompany such as over budget of business functions, unproductive meetings, Fire fighting andunder on quality. It is also identified in this report that an organisation needs to focus onmotivating employees for developing unique ideas and plans for betterment of its functions aswell as improving performance. This report also stated that the demand for problem solving hasenhanced due to which in current business environment management needs highly unique ideasor insights to discover suitable solutions to avoid any type of obstacles or barriers for obtainingsuccess. Creative thinking and innovation helps a company to design a highly productivity andprofitable organisational system within a competitive marketplace. This study also determinedvarious approaches and theories related to creativity and innovation at workplace such asComponential theory, Interactionist perspective approach, Model of employee creative actionand concept of cultural difference and creativity. The report also examined that all these theoriescan help Matchbox Architect to design and implement new ideas, methods and innovativeworking practices which can help in achievement of business goals or objectives effectively. Various steps of creative thinking and innovation were also discussed in the thisexamination such as Writing down all ideas, tough problems to solve, increasing knowledgewhich can assist the cited firm in developing and implementing unique plans for their businesseasily. Furthermore, the report also included a recommendation plan for Matchbox Architectsconsisting activities such as Brainstorming, Asking “What if” questions, Fostering collaboration,role playing scenarios and Provocation techniques which can help in developing creativethinking among employees working in the organisation.
TABLE OF CONTENTSEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1ANALYSIS......................................................................................................................................2Creativity, innovation and corporate entrepreneurship..........................................................2How organizations might effectively orchestrate organisational systems to promote andsustain creativity, innovation and corporate entrepreneurship and manage change..............3Start-ups needs to consider challenges and opportunities as the organisation grows in size.5CONCLUSION................................................................................................................................7RECOMMENDATION...................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONThe corporate innovation and entrepreneurship approach is created to assist anorganisation or company for developing unique and problem solving abilities along with theskills to identify trends, determine opportunities and make strategies for enhance highly effectiveideas. According to Achilov and Shaykhutdinov (2018) the concept on innovation is linked withcreative thinking and problem solving ability of an employee or entrepreneur while operating itsbusiness functions. It is very essential for any business owning a firm to have effective skillssuch as innovative thinking and designing, problem solving and motivating employees. In orderto overcome various issues raised in a company and increasing competition in the market everyentrepreneur requires to have these skills. The present report is in context to Matchbox Architects (MBA), a successful architecturefirm in UK. It was established in the year 2009, with a aim of performing vibrant RIBAChartered practices dedicated to the delivery of impressively designed spaces and building. Theentire team working in MATCHBOX ARCHITECTS are trained and perform effective functionsfor creating well designed buildings reflecting personalities or brands of their clients (Achilovand Shaykhutdinov, 2018). Due to increase competition and cost of operations it was essentialfor this cited organisation to make various innovations such as implementation of Top downversus bottom approach, promotion of creating thinking in each and every level or function ofthe organisation etc. The report will also focus on strategies or plans to address current issues and problemsfaced by MATCHBOX ARCHITECTS for example – Unproductive meetings, over on budget,low quality and so on. This report will also determine various contemporary theories assisting inanalysing organisation system or structure of Matchbox Architects in detail. Main aim andobjectives of this report is to identify the importance of corporate innovation and creativethinking within entrepreneurship to eliminate various issues related to a business (Tschimmeland Santos, 2018). Creative thinking and innovation in a business is very essential in achievement oforganisational goals and objectives. The need for problem solving has increased due to whichmanagement issues require highly unique ideas or insights for finding suitable solutions to avoidany type of obstacles or barriers for obtaining success. In other words creativity refers to skill orability for producing new as well as different ideas and innovation can be referred as1
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