Manage Innovation and Continuous Improvement - Desklib

This article discusses different methods for analyzing and evaluating business performance, supply chain management, performance measurement methods, and more. It also explores continuous improvement strategies and approaches to innovation. The article provides valuable insights for students studying management and related courses.

Running head: MANAGE INNOVATION AND CONTINUOUS IMPROVEMENT
Manage Innovation and Continuous Improvement
Name of the student:
Name of the university:

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Assessment part 1
Topic 1
1. Different methods are available in the market those are widely used by the business
organizations for analyzing and evaluating the performance and sustainability of the key systems
and processes (Zimoch, Kolb and Reichert 2016). For different business organization market
sustainability is very much important however different organizations use different approaches
for increasing the overall market sustainability. The followings are the different methods used for
analysis and evaluation.
Benchmarking approach: Benchmarking is referred to as a method that involves the
comparison between the business competitors considering both the target market and the outside
marketers. In addition to this the companies are required to consider the strength and weaknesses
for the service and processes offered by the companies (Yoo 2015). Over a defined time phase,
the performance levels are measured.
Interview and question: Both the employees and the consumers are required to ask
question for understanding their actual needs. Based on the answers gathered from the
questionnaires, the companies should improve their service approach.
Business meeting: The companies are required to arrange business meetings to give
perspectives on business requirements. In order to gain effective competitive advantages and
commercial revenue it is necessary for the company to arrange proper business level meetings
(Viljoen 2012).

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Social media monitoring: With the help of social media monitoring the business
organizations will be able to build a presence on different social media network. It will help to
follow the profiles of the business consumers for giving feedback on the performances.
Financial analysis: This is another important method that is used for analyzing and
evaluating the sustainability of the business organizational performances (Rosemann and vom
Brocke 2015). It is the responsibility of the finance manager to develop a budget plan or
feasibility study to understand whether the business is beneficial or not.
Answer to question 2
Supply chain management is referred to as a building process that helps to deliver desired
services and products to the consumer s per their requirements. There are five different phases
used by the business organization for the successful implementation of the supply chain
management (Zimoch, Kolb and Reichert 2016). It is necessary for any business organization to
implement all the phases step by step. The four stages or phases of supply chain management are
as follows:
Plan: Planning is a strategic phase that is used by the project managers to initiate the
supply chain management process.
Source: The stage helps to emphasize the production procedure.
Execute: In order to execute the processes this particular phase of supply chain
management is required.
Deliver: The designed process should be delivered considering all the necessary actions

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Return: Based on the feedback or invoice generated from the consumers the overall
process of supply chain management is required to be returned.
3. Performance measurement methods
 Graphic rating standards
 Performance standards
 Management by objectives
4. Analytical steps
 Defining the questions
 Setting the measurement priorities
 Data collection
 Analysis of data
 Interpret results
5. Sources of information about the trend specifics:
 Intern and industrial information
 Competitive information
 Governmental information
6. Role digital specialists:
System developer: The system developers are responsible to develop and design the
digitized system
Technical architect: Outlines the technical specifications of the system

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Web operation engineers: The web operation engineer’s jobs are to control and
monitor all the operations of the system that has been developed.
Topic 2
1. Continuous improvement strategies
The strategies those are widely used for the successful continuous improvement
implementation are as follows:
Lean technology
Lean technology is also known as the lean manufacturing and the technology is consists
of three factors in terms of people, processes and technology. This strategy comprises of small
cycles and much focused on the total quality improvement and continuous improvement at the
same time (Saidani and Nurcan 2014). Toyota company has evolves this particular continuous
improvement process. This approach was implemented for streamlining the production chain of
the companies in addition to its dramatic reduction in operations and overhead cost.
Six Sigma
Six Sigma is referred to as another continuous improvement strategy which is used by the
business organizations for the successful delivery of their products and the services at the same
time. This strategy is much focused on achieving the highest level of quality that is obtainable
within any business organization. It has been found that the companies those have used the Six
Sigma continuous improvement plan reached the perfection level of up to around 99% most
cases (Sila 2013). The business owners do utilize this approach for identifying the root cause of
the risks and then develops risk mitigation strategies simultaneously. Hence; it can said that the

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issues those interrupt the success of any business can be resolved with the help of the technology
called six sigma. The problems those may reduce the effectiveness of the process will be reduced
with the help of six sigma. The continuous improvement strategy or philosophy is consists of
progressive improvement until it reach the maximum level of perfection.
Time audit
Time audit is a key approach that is used for incorporating continuous improvement in
the business organizations. This kind of improvement is possible by cross checking the project
audit report that has been developed by the business organizations at the very initiation phase
(Yoo 2015). In order to track the time proper benchmark is also required to be set by the project
managers and the business executives. For the successful job specification the time audit is very
much important part to be considered. Though at the leadership level or at the employees level
the time audit is not possible to implement or even apply. In order to complete any task it is
necessary for the owners to estimate the total time that may be required and the same time the
total that the employees are taking for the successful completion of the project.
As soon as all the required information are recorded the study can be run for examining
the data in order to establish he standard through which the project and business owners can
track the total time that the company may take for completing the task or project (Zimoch, Kolb
and Reichert 2016). Successful time audit gives better control to the project in terms of products
and services.
Answer 2.

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The different types of work groups exists in the businesses are functional work team,
interworking team, project team, self management team, task force team and trouble shooting
team.
In order to promote interaction between the work team it is necessary for the project head
to implement open communication to share the ideas and creativity among the working team
members.
Answer 3.
Actively solicit ideas, stress the importance of creativity, act of ideas and reward
creativity are the methods to be used by the business use to inspire and reward the generation of
new ideas
4. Identification of the ways to trailing the innovative ideas
 Generation
 Development
 Execution and
 Evaluation
5. Risk assessment steps:
 Identification of hazards
 Analyzing the risks
 Assess the risk and undertaking actions
 Recording the findings
 Review of the risk assessment results

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6. Steps to be taken for approving the innovations within the business organization
 Mobilization of the generalized idea
 Advocacy and screening
 Experimentation
 Commercialization
 Diffusion and implementation
Topic three
1. Lean manufacturing the most suitable continuous improvement plan that has to be used
for the business. From the consumer’s perspectives this key process or idea is completely based
upon the continuous improvement. It helps the employees to understand the value of the products
and services. After analyzing the existing details business approaches this strategy should be
applied to eliminate all unwanted wastes, errors. The project driving and overall business driving
cost will be reduced with the implementation of lean technology continuous improvement plan.
Proper organization of this process will drive more than which the consumers are willing to
invest.
The steps will be followed for the successful implementation of lean manufacturing
technology includes the following:
 Elimination of waste
 Unwanted inventory reduction
 Production cycle shortening
 Speed up of response cycle
 Quality testing

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 Employee autonomy
 Solicit consumer feedback
If these phases are properly followed then the issues of business will be reduced both in
terms of cost and time.
2. Three positive and three negative consequences of business change
Positive
 Keep up to date
 Encouraging innovation
 Efficiency increment
Negative
 Loss of loyalty
 Over stress
 Staid leadership
Answer 3.
The company is required to implement open communication method to maintain the
interaction among the project team members and the working employees.
4. Contingency plan
Type of
Event
Likelihood Potential
impact
Appropriate
response
Staff members
involved
Resources
required

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Risk
assessment
Possible High Risk
management
matrix
design by
prioritizing
the risks
Employees
belongs to
troubleshooting
team
Project
manager
and
business
analyst
5. a) After failure proper follow up[ is required to avoid future failure.
b) For avoiding the future failure the steps are to be followed include the following:
 Discussion
 Written communication
 Mediation session and
 Work on a compromise
6. In order to gather information survey method should be used. It will give live results
from the survey participants.
7. Potential benefits of business innovation and improvement
 Workplace productivity increment
 Unique quality competitive advantages
 High commercial benefit
Potential costs of business innovation and improvement
 Resource cost
 Functional cost
 Operational cost

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Assessment part B
General activities
1. Definition of the Cost Benefit Analysis (CBA)
Cost Benefit Analysis (CBA) is referred to as a process that is used by all the business
organizations to check and measure the total profit that may be generated from the investment or
input. This systematic approach helps to justify the total investment that was the input to the
business projects.
Methods of Cost benefit analysis
There are different methods of cost benefit analysis are available and based on the
background of the business the mist suitable CBA method is applied by the business heads. the
different methods of cost benefit analysis are as follows:
Return on Investment: The return on investment is a mathematical formulae which
evaluate the efficiency of total investment or contrast the efficiency of the number of different
investment.
NPV: Net Present Value helps to calculate the financial status by calculating the
difference between the present value and the cash outflow.
Breakeven: This process of cost analysis helps to determine the requirement to sell either
monthly or annually for covering the cost for doing the business successfully
Importance of the cost benefit analysis

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 The previous financial issues identified by the project developers will be either resolved
or minimized with the help of the cost benefit analysis
 As CBA helps to create a balance between the inputs the output from the project in terms
of products and services thus, the overall project complexity gets reduced
 The projects become simple and in addition to this the overall project accuracy and
effectiveness also gets enhanced
2. Different approaches of innovation
There are certain common approaches available to innovation. It is necessary for the
business organizations and other project developers to determine the most suitable approach of
innovation. The innovation will depend on the business strategies, its business capabilities as
well as market understandings. Depending upon the available finance the approach should have
to be selected. There are many business innovations that the business analysts may focus on in
their business includes the followings:
 Continuous improvement of process and products
 Improvement of the product designed
 Upgrading the business models
 Exploitation of new technologies and using them for adding value to the existing services
In order to encourage the innovation in business the business developers must develop
and communicate a clear, simple vision with a strategy that will help the company to achieve the
project goal. Though strategy is nit the ultimate factors in addition to this proper leadership is
also necessary to respond to the project objectives in a much flexible way. After analyzing the

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details of the market trends and competition the competitors are to be evaluated and operated in a
similar way.
The analysts should consider certain accurate innovative steps accordingly in terms of
business process and practices, extra training for the staffs, additional resources, protection
mechanism for the intellectual; properties etc. If the executives maintain all these phases
properly then the business and the companies will be able to meet the objectives or
organizational goal within estimate time and budget.
3. The way through which the organisational learning can support and promote creativity
and innovation
 Stress the importance of the creativity and innovation
 Make the innovation for the brain storming
 Actively solicit of the ideas
 Arrangement of technical training for the staffs
 Challenging the way through which the staffs work and cross fertilization
 Enthusiastic response and support for the developed innovation and innovative idea
 Continuous management tools
 on the creative ideas and reward for the creativity
4. Quality management tools
 Scatter chart
 Pareto chart
 Histogram

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Continuous management tools
Process mapping: Process mapping is a workflow diagram that gives clear
understanding to the project developers. This tool helps to identify the opportunities for the
professional improvement.
Drive: This continuous management tool is comprises of define, review, identify, verify
and execution
PDSA Cycle: The plan to do cycle is consists of certain phases like plan, do, study and
act.
Root cause analysis: This tool is used for discovering the root cause of the issues that
interrupts the success of the projects or the business objective
5. Risk management
Risk management is referred to as a process or practice that helps to identify the potential
risks. After analysis the risks are to be prioritized and proper mitigation plan should have to be
developed by the project manager.
The relationship between risk and innovation
Without risk and uncertainty innovation is not possible. Innovation is referred to as a
relation between creation and offering something. Innovation includes the development of many
new products, services etc (Da Costa 2016). The sources of different risks are to be predicted and
must be received with the help of appreciation. Risk is an essential part of innovations that
speedily globalizes the world and increases the overall business efficiency. Risk management
can establish a proper context that may accurately develop the responses for identifying the risks.

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During the project development lifecycle phases if all these risks are identified then innovation
will become much easier and effective from the business perspectives.
6. The way through which continuous improvement assist the long term sustainability
In order to serve long term business and organizational success different types of
continuous improvement plans are available in the business domain. According to the
background of the business the most suitable continuous improvement plan is required to be
chosen by the project managers. It is important for the owners to identify and apply the most
helpful continuous improvement plan in their business. As the objectives and aim of any
business is to accelerate their growth during lean (Caporale 2016). They are always looking for
reducing the overall cost throughout the business processing phase. However, besides the
reduced cost the other expectations include quality improvement, service quality up gradation,
delivery time improvement and the billing cycle reduction. The different tools and strategies
those are used for the continuous improvement are as follows:
 Lean manufacturing
 Six Sigma
Event 2: Skills and Knowledge Activity
1. SWOT analysis of Woolworths Limited
Woolworths Limited is a food retail sector whose mission is to deliver fresh and quality
food products to the consumer with an affordable price range. In addition to this another aim of
the company is to bring middle class products into the working class homes. The targets of the
company are the upper middle class households and the population who belongs to the working

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class. In order to realize their competitive market and expected revenue that the company may
obtain are valuated with the help of the internal or SWOT analysis. The SWOT analysis of
Woolworths Limited is elaborated in the below section:
SWOT analysis
Strength
 Woolworths Limited is the first Australia
based retail company who introduced the
modern retails trade model
 Woolworths Limited has over 800 stores
and 30,000 employees throughout New
Zealand and Australia.
 In order to exploit the market potential the
leadership position of the company is also
enhanced accordingly with the help of their
string resources and external environmental
conditions.
 The packaging cost of the company is also
less than the other companies due to their
minimized carbon footprint and cost
efficiency.
 Across the industry, the technical and
human resources the company uses are
very much effective from the business
Weaknesses
 The strategy followed by the company only
impacts the internal environment and not
the external environment. Thus, the
Australian retail market always dominates
this retails sector.
 The move of the company is also restricted
by the Australian government
 The weakness of the company increases
due to it collaboration with the Coles
manufacturers.
 Higher price if ranged for some of the food
products

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perspectives.
Opportunities
 Across Australia the retails company
shows effective growth potential and
also the factors like computerization as
well as supply chain and advanced life
changing opportunities.
 The multi operational activities applied
by the company gives the company a
positive ambiance to operate
 It business strategies used by the
company develop a consumer friendly
environment through which
Woolworths Limited can gain
competitive advantages.
 Due to the effective strategies the
company can adopt the change
management prcatices very easily.
Threats
 In Australia many similar type of
industries are establishing and as a result
the total number of competitors of the
company are also increasing accordingly.
 The governmental intervention are
negatively impacting the business growth
of Woolworths Limited
 Certain significant factors of Australian
retail industry are not considered by
Woolworths Limited, which is a referred
to as major threat to the company.
Issues need to take into account with innovation strategies
In order to develop the innovative business strategies the company is required to consider
and adopt certain advanced management level approaches that may interrupt the regular success
of the company. It is necessary for Woolworths Limited to identify the practitioners and the

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business executives that seems not many other organizations have. Before and during the
development and implementation of the innovation strategies the company is needed to identify
some issues and the issues are as follows:
Uncertainty
There are huge differences between risk and uncertainty, risks can be mitigated but
uncertainties cannot be identified at the project and business initiation phase. It is necessary for
the busies leaders to identify the possible risk such as improper resource identification, lack of
management of cost, budget and time overrun, lack of experts etc.
Overrun of budget and time: It is necessary for the business organization to estimate the
cost and total time that may be required for the successful implementation of any project. If the
project head fails to estimate the time and budget at the beginning phase then the entire project
may be a failure and also additional cost can also be required for the successful completion of the
project and innovation of the business.
Lack of expertise: Lack of experts is another issue that may interrupt the success of the
business innovation. It is necessary for the organization to organize professional on job training
and development so that the business can be implemented without any error. Technical experts
are to be hired for the innovations so that they can
Improper resource identification: In order to successfully implement any project
activity, it is necessary for the project heads to identify the resource and allocate them for the
relevant activities. In addition to this, extra cost should also be considered in those cases where
other resources will be required.

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2. Sources used while attempting to identify trends relevant to the business
Different sources are there those are widely used while attempting for identifying trends
those are relevant to the business. Trend analysis is referred to as a process used for comparing
business level data over time for identifying the consistent resultant of business trends. The
business analyst can develop the business strategies to respond to the trends in line along with
the business goals. The process named as trend analysis helps to understand the way through
which the business can be performed and predicted where the recent business operations as well
as practices would be take the company objectives. In order to direct the business towards the
correct direction it is necessary for business owners to adopt proper change management
approaches.
For identifying the trends those are relevant to the business certain sources are required to
be identified by the business heads. Then based on these components, respond strategies should
have to be developed by the project managers and the business heads. The developers can use
trend analysis for improving the business through the following decorum:
 It helps to identify the areas where the business of Woolworths Limited can
perform well so that the developers can duplicate the success
 It helps to identify the areas where the business of Woolworths Limited will
underperform
 The business improvement details of the company would provide evidence for
informing decision making professionally
3. E-commerce channels used in the promotion of the business

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Initially the company has a manual data or information management system however
with the changing time period the company has developed a automated information system. It is
expected that with the help of the automated data management system the company will be able
to store and retrieve information from the server whenever required. Woolworths Limited has
currently implemented E-Commerce platform where the business operation and all the functional
activities will be performed accurately with high level of efficiency.
E-commerce channel is not just used for increasing and speed up the operational
activities rather it is also used for the promotion of the business. In order to raise the business
awareness among the competitive market E-commerce marketing is highlighted as a major
process that helps to drive the sales of the company with huge competitive advantages and
measurable commercial revenue. Though the modern E-commerce marketing or digital
marketing applies traditional marketing principles to a multichannel, data driven ambiance.
If the Ecommerce market is broken into parts them two different parts generate in terms
of driving website traffic and user experience conversion to grab more number of shoppers. In
order to develop the Ecommerce marketing strategies it is necessary for the business
organization to consider both of the Ecommerce marketing strategies. It is expected that with the
help of the Ecommerce marketing strategies the growth of the online business will automatically
enhance. In order to gain clear understandings for E-commerce marketing basics a start with the
solid foundation of the commonly user terms are required.
There are different forms of digital marketing that are proven as effective. The
advertising details are elaborated below:

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Par per click advertising: In order to run an effective PPC campaign it involves
strategies bidding over the keywords or phrases those are used in the advertisements those have
been created. On a per click basic, the search engine can earn the revenue as per click. The
impressions of the users are determined with the help of the search engine advertisement.
Search engine marketing: Search engine marketing (SEM) is used by different
marketers for describing all the paid as well a organic efforts. It is also used for describing many
efforts over the Google AdWords platform and the paid platform on the other search engines as a
Bing.
Display advertising: Display advertising is referred to as a banner or sidebar and also
other predominantly visual advertisement which may appear on the other websites also. With the
help of the add networks the display advertisements are facilitated. Apart from this email
marketing is another important target that helps to enhance the online marketing of the company.
4. Selection and research of a well known business entrepreneur
The founder of Microsoft, born n the year of 1955 was one of the well known American
business magnet. The owner of Microsoft develops the first retail version of the Microsoft
Windows on November 1985.
Innovation strategies that have played a part in the successful business
 Finding for the next S curve
 Lean on the consumers
 Thinking like the designer
 Lead the ways

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5. The way through which organization grant approval for the innovative idea
implementation
In order to implement the way through which the organization get approval for the
innovation include:
 Initiation
 Planning
 Implementation
 Testing and closure
Steps required for process speed up and efficiency improvement
 Drive growth and creation of the value for the business
 Partnership, suppliers and lean manufacturing
 Merging the business organizations for optimizing the aligned processes
6. Methods to be used for limit the negative impact of the changes within Woolworths
Limited
 Technical training and development program implementation
 Open communication implementation
 System approach
 Proper resource management
 Innovative strategies development

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