Importance of Innovation for Employees in Mark and Spencer : Report
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Added on 2020-06-06
Importance of Innovation for Employees in Mark and Spencer : Report
Added on 2020-06-06
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INNOVATION
Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2P1 Meaning and importance of innovation for employees within Mark and Spencer................2P2 The vision, leadership, culture and team work in the organisations......................................3Task 2...............................................................................................................................................4P3 4Ps of innovation and use of innovations..............................................................................4P4 Use of frugal innovation in the company...............................................................................5Task 3...............................................................................................................................................5P5 Importance of commercial funnel and its application on the new products' development....5P6 Case study on business innovation........................................................................................6Task 4...............................................................................................................................................8P7 Various tools used in the organisation to develop, retain and protect knowledge andintellectual property....................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................101
INTRODUCTIONInnovation in the organisation plays an important role with the several modification interms of its business practices, workplace organisation and the external relations. The variouschanges required in the organisation to achieve the firms objectives. The report will consist ofMark and Spencer which is associated with retail industry on United Kingdom. Further, theimportance of innovation of for workers and vision, leadership, culture and team work withincompany. The cited firm develop frugal innovation and the significance of commercial funnelwith the application of New Product development. The Various tools that the Mark and Spencerutilise to develop retain and protect knowledge also the intellectual property.TASK 1P1 Meaning and importance of innovation for employees within Mark and Spencer.Innovation:It is defined as the procedure of forming new ideas or invention in terms of products andor services. The new idea and invention is not the main aim of the innovation for the organisationbut to brings impact on market with proper development in the firm. While the innovation foremployee is different from the organisation (Ashcraft and et.al.,2017). In the mind set ofemployee innovation is to bring effective policies and equipment which are advance technologyfor faster operation and productions. The employee of the organisation get the several benefitssuch as travel facility and gym subscription are the part of innovation. There are various elements which reflect the significance of innovation to employees withinM&S such as follows:Effective leadership: In the organisation involvement of leader brings the innovationwhich can be done with the help of effective leadership. The leader will assist and givedirection to the employees to achieve organisation goals and objectives. These will givebetter outcomes in employee performance when the leader will motivate and allocate thetask equally on the basis of potential and various traits and skill of worker. The contribution of worker in the organisational Growth: In the M&S various role of employees are not able to give their opinion which can becontributed in the growth of firm. The innovation in the company is not up to development ofproducts but to implement the various system which will be benefited to the employees and feelmotivated at workplace (Bashmakov and et.al., 2015). The suggestion of the employees brings2
the most important aspect for organisations which will help to contribute of worker in growthwith the application of new ideas and system in the company. The M&S provides the employeeperformance incentives in which the model Rosie Huntington whitely establish her firstfragrance, all the worker were informed that whichever store sold the most bottle would get avisit from the head of beauty or regional manager. Employee shared the best practice tips andideas of how to drive sale on social media. M&S also introducing innovation recognitionmethods for employees (Breznitz and et.al., 2016). These all the aspect will help to contributionof employee in growth of organisations.P2 The vision, leadership, culture and team work in the organisations.Vision of Mark and Spencer: They have set of standard against which other aremeasured benchmarking in the retail industry with the innovation goods and services by addingvalue for customer and inspire the emotion as well reflect the value.Leadership: The Mark and Spencer have effective leader which plays a transformationalleadership role in which the leader will make over an inspiring vision of the forthcoming of theorganisation. These can be creating values and ethics for firm. It is the important for theorganisation if leader will make efforts on the various system to implement effective changes(Eberhardt and et.al., 2017). The transformation leader will motivate employees to purchase intoand delver the vision for improving the employee performance with the help of creating missionfor a particular task which is important to share with employees for more effective outcomes intheir work. The policies and process for various operation will modify with the help ofemployees opinion and as per the requirement of organisation to establish the working culturewith the positive environment. The another aspect of transformations leadership role is sharetheir idea during the conflicts situations to solve the issue with idea which can be easy toimplement for effective outcomes.Culture of the M&S is workaholic where work will be priority for the company but theemployees or the other stakeholder opinion is not important (Gummesson, 2014). As the culturemend the collective experience which reflect in the firm daily operation and strategy of thecompany tend to be moulded by its culture only. For that a various strategy will be impact on theorganisation culture due negative working environment. So an effective environment,capabilities of the organisation will help to implement the better culture where all the employeefeel motivate and work to achieve personal as well professional objectives.3
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