Innovation and Enterprise

This presentation explores the importance of innovation in organizations and the impact it has on their success. It discusses the process of innovation, the role of personal reflection in improving innovation practice, and ways to develop innovation skills. The presentation also highlights the benefits of innovation for businesses and the need for continuous innovation in products and services. References are provided for further reading.

Innovation and Enterprise

Table of Content
• Introduction
•Main Body
•Examining the impact of innovation process in the organisation
•Apply learning and reflection model to assess the innovation practice
•What are the different ways by which the personal innovation skills can be
developed
•Conclusion
•References

Introduction
Innovation is the development of new ideas into the
realistic form. Enterprise is the business in which
the main criteria is to achieve the objectives with
the help of making innovation. It is very important
that if the business has to make success then they
have to make new innovations in their products and
services.

Impact of Innovation process
Innovation is the prior importance for any company as they
know that without innovation they would not be able to grow
their company with that of their competitors. The businesses
always try to make innovation wither in the workplace or in
the development of the products and services which they are
making.

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Competitive advantage- Competitive
advantage means to become superior from the
competitors and to gain good market share in
the market. Marks & Spencer have announced
the team “innovation hub” which will help to
conduct the research on those products which
are sustainable. This means that the company
has begun to launch the food products which
will be sustainable in nature.

Gibb’s Reflective Cycle
Gibb’s model is helpful in the course of personal reflection which helps in investigating
the experience which the person has made during particular situation. This model also
helps in identifying the weak points of the individual which requires further
improvement. The Gibb’s reflective cycle will be helpful for me in identifying where I
have made the improvements and where I need to make more improvements for the
development of my innovation practice. Gibb’s reflective cycle have been explained
below-

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Feelings- My feelings when I was attending the
workshop were great as I was not aware of many things
which is required while making any new development. I
was feeling much confident after the session was
complete as many people were also happy and satisfied
with the workshop which they have attended.

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Analysis- I have analysed the factors which I have to work on and which require my hard
work. Because after attending this workshop I got to know about the things which I lack in
and when I have noticed other people who already know about the things made me feel sad.
Now for becoming the best I have to learn many new things which will help in making new
and unique innovations.

Ways for improving Innovation Skills
For making success in the innovation skill it is
important for me to develop skills which are required
for improving and developing my innovation. This is
because developing innovation skill will help in
securing mu future and I would be able to achieve
success in my career. Some of the ways have been
mentioned below by which I can make some
improvements in my innovation skill-

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Maintaining a sense of curiosity- Becoming curious about the things
which have never been thought or seen before help the person to become
the best in making innovations. I am not a curious type of person and
this feature of mine does not inculcate in me new things which are
required for making any new innovation.

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Writing down new ideas- I am the person who forgets about
the things really fats and for this I have to face many
difficulties. As new ideas can come up in the mind at any
time and for which I have decided to write down the things
which is according to me is the best. Because these ideas will
help me in the future when I have to make any new
innovation.

Conclusion
From the above report it can be concluded that innovation and
enterprise are the two important elements which works together.
Innovation helps the business in growing their brand image in the
market. Customers are also excited when they get to know that they
have to use the product which is different in style and with its use.
Businesses works hard to achieve and make new innovations in the
company whether it is for making new products in the market or
making some innovation in the working style for the employees.

References
•Arrigo, E., 2018. Open innovation and market orientation: an analysis of the relationship. Journal of the Knowledge Economy. 9(1).
pp.150-161.
•Borremans, L. and et. al., 2018. Nurturing agroforestry systems in Flanders: Analysis from an agricultural innovation systems
perspective. Agricultural systems. 162. pp.205-219
•Ning, D.U., 2018. Research on the Training Mode of Professional Degree Postgraduate Practice under the Background of University-
Enterprise Alliance. Modern Education Management.p.03.
•Reynolds, E.B. and Uygun, Y., 2018. Strengthening advanced manufacturing innovation ecosystems: The case of
Massachusetts. Technological Forecasting and Social Change. 136. pp.178-191.
•Salamon, K.L.G., 2020. Possessed by enterprise: Values and value-creation in Mandrake management. In Magic, culture and the new
economy (pp. 47-55). Routledge
•Von Krogh, G., Netland, T. and Wörter, M., 2018. Winning with open process innovation. MIT Sloan Management Review. 59(2).
pp.53-56.

Thank you