Lead Innovative Thinking and Practice in Wesfarmers

Running head: INNOVATION
Lead Innovative Thinking and Practice
Name of the Student:
Name of the University:
Author’s Note:

2INNOVATION
Table of Contents
Technique to foster an innovation in Wesfarmers...........................................................................3
Current tool that followed by the organization................................................................................3
Innovative and creative thinking.....................................................................................................3
Specific condition for innovation and issues that impacts on the innovation..................................3
Drivers of innovation.......................................................................................................................4
Leadership style to give shape positive innovative thinking...........................................................4
Method to refine the style and practice............................................................................................4
Establishment of sustainable innovation.........................................................................................4
Method to transfer knowledge.........................................................................................................5
Risk of innovation and resolution....................................................................................................5
Product and service to meet the need of the target audience...........................................................5
Method to communicate and share the information during innovation...........................................5
Techniques to develop communication and initiate employee development..................................5
Resources of innovation..................................................................................................................6
Strategy for innovation....................................................................................................................6
System that support innovation.......................................................................................................6
Strategy to make innovation as the integral part of the organization..............................................6
Monitoring process..........................................................................................................................6
Potential barriers of the strategies....................................................................................................7
Reflection on innovation performance............................................................................................7

3INNOVATION
Technique to foster an innovation in Wesfarmers
Wesfarmers is a popular retail organization in Australia. In the recent years they
want to improve their customer service by developing customer centric innovation through
chatbot and customer centric culture (Bain and Kleinknecht 2016). This will help them to
understand the needs of the customers. To this they need to build effective team, flat structure
and use of benchmarking.
Current tool that followed by the organization
Wesfarmers currently focuses on the TRIZ tool. This tool is beneficial to solve the
problem by carrying out a root cause analysis. This practice is also helpful for generating new
ideas.
Innovative and creative thinking
In the context of Wesfarmers the innovative thinking and creative thinking is customer
oriented. They want to improve the customer service by resolving the problem. In the industry
context it is crucial for the retail industry to satisfy the customers by meeting their needs, which
needs innovation (Wang and Ding 2016).
Specific condition for innovation and issues that impacts on the innovation
In order to implement an innovation funding, policy framework, proper skill, analyses of
market condition are the major components of creating a specific condition of the environment.
The major issues are lack of funding and proper collaboration that may affect the innovation of
Wesfarmers.

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