Managing Innovation in Organization

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Managing Innovation in organization

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Executive Summary
The report analyzes the three hot topics about innovation related to an organization named
"Telstra." An action plan has been made for managing innovation in the company. The topics are
technology, open innovation, and new product which would be innovated by making an
innovation plan. A framework for design thinking has been used so that the company would
decide the way of innovating the products or services. Important resources are considered which
are required for innovation such as time, costs, and labor. The cross-functional team would be
developed by the company for managing the innovation as it is a cross-functional process.

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Table of Contents
Introduction.................................................................................................................................................3
Design thinking about innovation................................................................................................................3
User involvement........................................................................................................................................5
Fast integration...........................................................................................................................................6
Prototyping and testing capabilities............................................................................................................6
Cross-functional management....................................................................................................................7
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10
Appendix...................................................................................................................................................12

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Introduction
The report aims to evaluate the innovation management plan in an organization. Telstra
Corporation is chosen for evaluating innovation topics as well as innovation management action
plan. Telstra is one of the leading telecommunication firms that has a wide network throughout
the globe. The paper will design thinking about innovation with the help of a diagram. There are
three topics about innovation related to the organization, Telstra. The first topic is a technology
which will be transformed into new and advanced technologies for satisfying the needs of the
customers. Telstra access to the latest technology because the new technologies transformed the
way people survive as well as do business.
The second topic is a new product, and the company will offer an amazing new product that
informs the loyal customers. The offering of new product help in shaping the company in doing
business. The third topic is open innovation, which helps in driving the success of the business.
An idea for the innovation of new product or services is to consider the design as well as benefits
of the new product or services and train the employees so that they can think like innovators. The
firm may access the competition as well as set a strategic vision along with identifying the
opportunities for innovation. An idea could be innovated by observing the customers as well as
asking the staff members. Innovation will streamline the current capabilities of Telstra by
supporting new ways of working as well as expanding a network of product and technology.
Design thinking about innovation
Design thinking refers to the human-focused approach that includes close engagement with
consumers (Aime et al., 2014). Design thinking will be used by Telstra for providing creative
solutions to business customers. The firm will visit the customers for observing the use of
technology by the consumers at home and business. The company will use design thinking for
optimizing the experience of the customers. A method used in the development or innovation of
product and seeks to overcome restrictions is called design thinking (Ben Mahmoud‐Jouini,
Midler and Silberzahn, 2016). It allows the firm to integrate ideas and to create new solutions.
Design thinking helps in generating real value for the customers of Telstra. Using this means to
bring your own ideas for addressing the problem at the time of innovation of the new product.
A framework is provided below for design thinking about the innovation of new product: