Innovation and Management Decision Making

Running head: INNOVATION AND MANAGEMENT DECISION MAKING
Innovation and management decision making
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Table of Contents

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INNOVATION AND MANAGEMENT DECISION MAKING
Introduction................................................................................................................................3
Company related innovation challenge......................................................................................3
Proposing of a leading edge strategic innovation solution.........................................................4
Application of strategic innovation model.................................................................................5
Strategic innovation model........................................................................................................6
References..................................................................................................................................8

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INNOVATION AND MANAGEMENT DECISION MAKING
Introduction
The report is prepared to discuss about the formation of an effective strategic
innovation solution and address the issues and challenges in the area of sustainability
considering the business organisation named Mitsubishi in Australia. To do this assignment,
the strategic innovation model will be applied consisting of the 13 stages that can facilitate
the development of innovation action plan and ensure proper leadership management and
fostering a great culture within the organisation too. This innovation implementation will also
benefit the organisation by improving the business functions and processes along with the
improvement of organisational structure, systems and also enhancing the performance of the
entire team too (Markides 2013). Thus, the entire report will prioritise on the innovation
solution that can help in addressing and resolving the sustainability challenges and even
ensure fulfilling the corporate social responsibilities for creating a positive impact on the
environment as well as on the community.
Company related innovation challenge
Mitsubishi Motors Australian Limited is one of the largest car manufacturers from the
parent company named Mitsubishi Motors Corporation of Japan, which has established a
good position within the Australian marketplace. The company has delivered good quality
motor vehicles to clients for meeting their demands and expectations and ensured presenting
a positive brand image in Australia as well (Casadesus‐Masanelland Zhu 2013). It has been
found that often the business organisations are blamed for social, economic and
environmental issues and challenges, which enables the organisations to respond trough
innovation solution and ensure benefiting both the community as well as the environment. It
should not only help in enhancing the business performance, but could even facilitate the
management of business value and ethics along with providing support to facilitate the

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INNOVATION AND MANAGEMENT DECISION MAKING
process of decision making largely too (Massaand Tucci 2013). With the management of
innovation solution and by overcoming the sustainability challenges, the business values and
ethics would be maintained at Mitsubishi Motors Company Australia, which should also
result in creating higher morale among the staffs, strengthen the customer base, retain the
existing clients and also create a positivemind set among people and impact the community
and environment positively as well.
The company related innovation challenge pertaining to a sustainability challenge or
problem has been related to exceeding the rising expectations and change in demands of
the stakeholders of Mitsubishi Motors Company in Australia. To deal with the global
sustainability issues including the excessive rising demands and expectations of the
stakeholders, which has also affected the long term growth and ability to remain competitive
in business (Schneiderand Spieth 2013). With the changing demands and expectations of the
stakeholders, the company has often faced issues and challenges related to lack of sufficient
working capital and also not being able to contribute positively to the environment and the
community. This has also reduced the generation of economic, societal and environmental
value, which could affect the company’s ability to focus on the vision and mission of the
organisation along with deterioration of the management based strategy implemented within
the workforce (Afuah 2014). John Elkington’s Tripe Bottom Line should also allow the
company to focus on the bottom line that could generate higher revenue while at the same
time, facilitate protection of people, planet and environment with the management of
sustainable development initiatives too.