Analysis of Corporate Innovation and Entrepreneurship at Matchbox

This report provides an in-depth analysis of corporate innovation and entrepreneurship, focusing on a case study of Matchbox Architects. It explores the critical role of creativity in business, examining the challenges and opportunities associated with fostering innovation within an organization. The report details the importance of creative thinking, identifying individual blocks to creativity and presenting various creative problem-solving models, including the CPS model and design thinking. It delves into the application of these models within Matchbox Architects, analyzing their impact on the company's operations and identifying areas for improvement. The report highlights the necessity of creative thinking for business growth and sustainability, emphasizing the benefits of increased confidence, improved problem-solving, and enhanced workplace success. It also discusses the use of innovation and creativity models to implement effective creative strategies, incorporating secondary data to support the analysis. Finally, the report concludes with recommendations aimed at enhancing innovation and promoting a more creative environment within Matchbox Architects, contributing to the company's long-term success. This report is a valuable resource for students and professionals interested in understanding and applying corporate innovation principles.

Corporate
Innovation and
Entrepreneurship

EXECUTIVE SUMMARY
This report summarises particular research plan regarding thinking and innovation among
employees to achieve their objectives of a business enterprise. It deals with corporate innovation
and entrepreneurship that guides in how to use the skills, knowledge, experience while achieving
the targets. This covers relevant facts by using the research study of Match box architects
company. It supports in applying different contemporary contribution that are used to publish in
better form with an appropriate quality as per the requirements of a business organisation. This
research covered by different strategies and approaches that are used for analysing abilities and
thinking within a respective company. The main objective of this report is to bring enhancement
of innovation through promoting creativity thinking in a business organization and corporate
sector. The corporate innovation plays a vital role to provide a valuable guidance by measuring
the gears to promote them in an effective manner. From the above discussion it helps in to
certain valuable suggestions that are provided to the company. In last, by using recommendation,
it is simply to attain better growth can be achieved under this report.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................3
ANALYSIS......................................................................................................................................3
CONCLUSION................................................................................................................................8
RECOMMENDATIONS.................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Corporate innovation and entrepreneurship plays a paramount role in creating and
managing businesses. This helps in determining the special skills and knowledge that are needed
by entrepreneur or company. While using creativity in a business firm able to recognise
opportunities, develop plans for high skill potential ideas, thinking skills and many more. An
emerging entrepreneurs must be competent in different mediums of communication, good
negotiation skills, leading with ethics and integrity (Bogers and West, 2012). In an organisation,
creativity and innovation play a most important role in order to producing new and unique ideas
for desired growth. In this, innovation assist in the effective implementation of these creativity.
The creativity process is based upon discussion, review and then bring out that action into a
strategic plan to attain their objectives as per the requirements of a business enterprise. This
helps in achieving the aspects such as planning, capital investing, goal setting and decision
making.
Therefore, assignment is going to highlight the need of creativity at workplace by
promoting it with the help of various models and theories.
Aim: Focus of the project is on “live consultancy project of Matchbox architects in order
to promote innovative practices at workplace for enhancing innovation”.
Objectives:
 To determine the importance of innovation within Matchbox architects.
 To identify the issues which occur while developing creative products and services.
 To analyse the influence of promoting creative and innovative activities in the Matchbox
architects.
Basically, this association is deals in construction activities and situated in Strixton,
United Kingdom. The nature of business is architecture and structural engineering. Moreover,
project is also outlining the vision of match box architects that is “to build and develop an
inspirational team that can change the future environment by coming up with unique ideas”.
ANALYSIS
Individual blocks to creative thinking
There are different blunders blocks which keep organisation for acquiring in touch with
their innate attractive and creative things. The firm has powerful feeling which directly effect for
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increment, at the time when all the time change and space for estimating the alterations. These
are described as under:
Adopt rules and regulations – This is associated and related with company which
develop various rules or norms to a brainstorming program which main aim is to introduce new
latest creative thoughts and ideas which make best quality products to their customers.
Became too serious – The creativity and attractive always comes for enjoyment, laughter
and so more. There are some individual who come with innovative idea which develop curiosity
in the organisation in which they maintain sprite and their ideas.
Creative problem solving models
Illustration 1: CPS model
The diverse method and techniques is to creative problem solving process which advance
the evidence for impact on unique ideas and thoughts. Along with this, CPS model using current
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investigation and plain verbal. This can be divided into four parts with a gross of six expressed
procedures.
Discuss –
In this stage, the company employer organise and arrange effective meetings of different
team associates for describing some creative issues or problems which convey towards next
level. Positive effects – These kind of activities are beneficial because through this, senior
employees of organisation can discuss new ideas and creative thoughts to their
colleagues. Negative effects – Sometimes, discussion creates grievances between employees while
each individual have different thoughts and predication.
Reviews –
This is the primary section which is required for identifying the main problems of MBA
company face on regular business operations and functions. This is divided into different parts
that are described as follows: Customers – The company manager require to examine the necessity of unique ideas and
thoughts that will be determined the customers perceptions regarding this. Third person – In this, idea should be acquire from other external individual. This can be
effective thing which increasing the ethics and values of employees for gaining aim in
faster manner. The supreme possibility for getting creative ideas from outside sources
that can lead towards solving various issues or problems in high way. Formalise – In this part, all the major ideas provides the accurate shape before executing
within the company. Along with this, MBA firm has been implemented culture to
develop pattern for continuous transformation in the firm. It gives new ideas for
employees in gaining higher opportunities along with reviews. Developing outputs – For improving communication in the firm, they need to design the
meetings but find to share skills and knowledge in free flow to enhance the learning
among workers. Quality assurance – They has been evaluated that there are around 40000 euro spends
on each site visits. The major goal of company is to gives customers about customer’s
facilities or services to be provided by them.
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Positive effects – Reviews can be a beneficial approach in respect of an organisation because
through this, management of firm can analyse creative and innovative ideas that are required for
making new changes in firm.
Negative effects – In an organisation, services user's reviews and feedbacks takes a specific
places that assist in determining exact situation of firm in market. Thus, the negative reviews of
customers can affect negatively on business goodwill and its market image.
Actions –
For developing whole descriptions about innovative issues, the firm managers of
particular division need to take some initiative for overcoming with such problems. It will assist
in gaining high sustainability and growth for MBA organisation. Positive effects – After analysing reviews of users, management of firm needs to take
quick action for it. The actions towards implementation of creative and innovative ideas
assist in providing desired growth to firm.
 Negative effects – Sometimes, instant action can impacts negatively on business firm.
Because it is hard for users to purchase new goods before getting any kind of
information.
Design thinking
There are five steps of designing thinking procedures which are described as under: Empathise – In this stage, firm acquire empathic skills and knowledge of problems for
resolving anything. It will consist with consulting team associates to identify regarding
each area of concern for analysing and enhancing the evaluation of an individual. Define – There are different issues which has been face and this is related with giving
accurate pricing which charge to the specific building. Along with this, there are such
issues which are associated with tenders and it is not fully up to date with all needs or
requirements. They are doing work for formulating and developing motivational team
which generate more growth and development for business. Ideate – In the stage, designer is making new ideas and thoughts which are relevant to the
business operations. The MBA firm need to evaluate their customers’ requirements and
demand in empathise manner. There are different methods and techniques that includes
brainstorm, worst possible opinion and many more.
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 Prototype – In this, design team will developing and making large number of reasonable,
scaled version of item which has particular feature to find so that they can research the
major issue in better manner. Test – There are number of designer test to complete the specific procedures by using
best appropriate test to analyse the prototype level. In addition to this, the result
generating at the time of testing period which are rarely used to specify various issues or
problems.
Positive effects – Decision thinking can be a beneficial approach that assist in analysing each and
every aspect properly before its implementation. For the MBA firm, it is required to adopt these
challenges that assist in determining maximum opportunities for firm.
Negative effects – Decision thinking approaches is based on an individual decision that requires
to implement properly. It can be negative factor because it is hard for users to accept them before
identifying its uses. Thus, there can be a possibility of declining new ideas and thoughts.
Necessity of creative thinking
There is a need of development and enhancement in every business organisation to
sustain present strong position in changing trends of market. It is essential to use new and unique
innovative ideas to improve the performance of company to overcome in a new form. Therefore,
a business organisation should use an effective manpower to perform its duties and
responsibilities in a creative manner. The main requirements of developing creative thinking are
describe as:
 Increase Confidence: According to this point, this helps in to increase the confidence of
an individual as thinking more and more it will help them in to face every kind of
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Illustration 2: Design thinking

difficulties and situation (Drucker, 2014). By using innovative thinking it helps in to
transferring their skills to their employees and increase the level of confidence of
workers. It is a significant role of creativity in Match box Architects Company.
 Become more successful person at work place: This includes the criteria of enhancing
own skills or abilities at work place and generate better outcomes on regular basis to
become an efficient employee in an organisation. The Matchbox Architect have to
conduct innovative learning programs to improve capabilities of workers because it will
reflects into future outputs of business.
 Resolve problems more efficiently: This can be described as put efforts for solving
various issues or problems which are generated between staff members at work place. In
case of Matchbox Architect, they have to make innovative strategies to avoid such
problem in company and utilise more creative technique for solving issues which
facilitates to achieve growth in business. This bring as a positive outcome as company
will reduce their expenses while resolving conflicts, increases trust among workers and
bring unity and peace among a business firm.
Although, Match box architects uses creativity for a different reason such as improving
things, combining two different ideas and making them better with one idea. This helps in to
build support for from letting get down. Also, looking forward for new creative ideas to develop
strong innovative team (Gambatese and Hallowell, 2011).
Using innovation and creativity models for implementing effective creative
According to Chukwuemeka Nnadi, (2018) states that, creativity and innovation is done
for business growth and sustainability to achieve their objectives. The research examine that
there is a major role to contribute a successful global business enterprise and entrepreneurs. This
can be achieved by setting up high apparently unachieved situations, government opt their
policies and program to attain the desired objectives. In case of Match box Architects Company,
it is necessary to use the secondary data such as books, internet, journals etc. that helps in finding
their goals by choosing a hard way for success by using an innovative and creative thinking of
the manager and leader of Matchbox Architects Company. This includes taking risk for a desired
targets, use of latest technologies, adopting finding and recommendation path that helps in to
know about company's flaws and fault. These issues helps them in to use their ideas and
innovative thinking to achieve desired results of respective company. Also, focuses on
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establishing global authority for observance their rules of laws and order. Without, innovation
and creativity it will be difficult for respective company how to react, how to increase their
demand in reference to obtain efforts and performance of existing employees.
As per the views of Siyana Sokolova, 2015 has being discussed that creativity goes
through hand in hand with innovation skills. There will be no innovation if there is no creativity.
Therefore, it is an essential element that has the ability to generate new and unique ideas, to
implement the creativity through a process or an approach (Mitra, 2013). While using creativity
and innovation it increases the productivity of Match box architects. This encourages workers to
think different with a new perspective while exploring the ideas for innovative in a cost effective
business solutions. To foster creativity match box architects should adopt various strategies and
approaches such as:
 Reward creativity: For a successful business, it is necessary to reward creativity while
showing their values, this helps in to inspire an individual while using concepts and
theories. For example, in a business organization, they should appreciate their employees
on monthly basis. This will motivate them to adopt the creativity and innovation strategy
that are required by employees to implement new ideas and talent related to increase their
existing performance. Therefore, to bring initiation and improvement it is essential to
reward their employees to provide good ideas to enhance their existing performance.
 Provide rest to employees for better results: In case of Match box architects is it an
indispensable to step back and need the refreshment. Flexible hour’s opportunities that
assist them for choosing more favourable working shift so that they can utilise their skills
more effectively with innovative ideas to complete desired targets. With a creativity and
innovation skills workers get exhaust and it is necessary for leaders and manager of a
respective company to recharge their employees (Parker, 2012). This can be done through
reliving them from stress, doing parties and many more things.
Architects as qualified professionals versus effective and contemporary leadership
Under this, it has been observed that the architects are more qualified and enough capable
to perform their duties and responsibilities in a well manner so that company can gain profits in
the upcoming period of time. In a contemporary leadership are trust based which are related to
their employees. Therefore, it is an eminent role to co-ordinate with each other in an effective
way. When the architects are eligible for their professional they guide their team members in
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how to use innovation and creativity to make their work in perfect manner. This assist them in
maintaining the balance with new approaches and the existing on that are used earlier in a
business company.
Top-down and bottom-up approach
For an effective use of strategies and policies in creativity and innovation match box
architects serves the purpose of data processing and knowledge. Generally top to bottom
approach is used to give instructions to their subordinates. Whereas, in a bottom to up approach
employees includes their contribution with the help of their employees while delegating
managers responsibilities to subordinates. This helps in achieving the goals of an organisation in
an effective manner (Roig-Tierno, Alcazar and Ribeiro-Navarrete, 2015). By using innovation
and creativity thinking it will enhance the knowledge of higher authority and bring stability in a
respective company. Also, bring highlights at a time of effective decision- making, relevant
information is provided to their subordinates in well manner.
Goldman sachs model
According to this model, it is one of the factor that is used by fiscal expert to assess the
performance and the financial conditions of Match box architects. This is a level of experts to
involve large, at times of global for both structure and unstructured to use techniques while an
effective method. Goldman sachs model is formed upon the inputs that are receive from the
financial statements, balance sheet, profit and loss account, cash inflow and outflow, ratios and
so on. There are three measures that are used by Match box architects to analysis there values,
risk, growth and momentum for sustainable growth, revisions, beta, residual risk and many more.
This model uses company to attributes the market data while using their past records. By
adopting these strategy, creativity and innovation skills will assist in for developing plans more
accurately that will reduce the risk related to budget and financial management.
Designing projects
In today's world it is necessary to aware about the needs and wants of clients for better
and smarter way to know their requirements. On the basis of Match Box Architects Company it
is an important component to determine the quality in a specific manner. For an innovative
design company will charge high price from their clients that ultimately helps in earning profits.
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