National Bank of Oman: Individual Innovation Thinking Report, SHR044-6

This report provides an analysis of creativity and innovation within the National Bank of Oman. It begins by defining creativity and innovation, then discusses individual blocks to innovative thinking, and proposes an "Innovative Value Chain" to promote individual innovation. The report outlines the stages of idea generation, conversion, and diffusion within the bank. It highlights the bank's current practices in fostering creativity and innovation, including training programs and employee engagement strategies. An action plan is presented, detailing steps to promote individual innovative thinking. The report concludes by emphasizing the importance of technological advancements and creativity for maintaining a competitive edge in the banking sector, and the need for employees to be focused on providing the best banking experience to its customers. The report also references relevant academic research and literature to support its claims.

Running head: NATIONAL BANK OF OMAN
National Bank of Oman
Name of the Student:
Name of the University:
Author Note:

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Table of Contents
Introduction................................................................................................................................2
Individual blocks........................................................................................................................2
Designing effective innovation thinking process...................................................................2
Creativity and Innovation in the National Bank of Oman.........................................................5
Action Plan to promote individual innovative thinking.............................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

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Introduction
According to the viewpoint of Crane, Matten and Spence (2019), creativity is
considered to be that part of the capability of a business organization that helps the same
conceive the synergy of original content or something unusual as compared to other firms. In
the concern of innovation, Chang (2016), is of the view that innovation is the term that means
to invent and implement something new in the working process of a business entity. In this
connection, the given report is focused on identifying the creativity and innovation of the
organization named as National Bank of Oman.
Individual blocks
As stated by Collins (2018), there lie diverse reasons that lead to the rise of individual
blocks concerned about creative thinking. Out of these diverse reasons is considered to be the
thought of fear than a working individual has regarding the decision-making process. This
fear then turns to the fear of executing the decision in the wrong way. As examined by the
help of the study, the next block to the innovative thinking of an individual is determined to
be the thought of resisting oneself from making queries or even providing feedback.
Designing effective innovation thinking process
As stated by Hatch (2018), the process of understanding the problem and being aware
of the weakness that exists in one's organization as well as the gaps and inconsistencies due
to the lack of the information regarding the change in technologies and innovation in the
business market is termed as creativity. In this connection, the given report tends to suggest
the strategical approach of Innovative Value Chain, which would help the organization of
National Bank of Oman to promote and design effective process of individual innovation
thinking in the plans and operations of the same. The same is specified as below.

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Innovative Value Chain
The ideology of innovative value chain suggests that in the concern of improving
innovation and creativity in a business entity, the business executives need to view the
process of changing the ideas in the synergy of economic outputs as the form of an integrated
flow (Jaques 2017). This flow of phases is divided into three part of a chain; the generation of
an idea, the conversion of idea and the last phase is recognized as the diffusion of the idea.
Idea Generation
The senior-level management at the National Bank of Oman should realize the fact
that the concept of creativity and innovation starts with the stage of generating good ideas
(Perry-Smith and Mannucci 2017). However, the main question in the same arises of where
these concepts come from. The managerial level employee at National Bank of Oman looks
explicitly into the functional group and the units of the bank’s business for creating the
creative sparks in the company. In this context, the report suggests that the organization can
gain bigger sparks in their culture of innovation by discovering the fragments of different
ideas and igniting the same altogether at one point of time to discuss upon the same and find
the best approach to be implemented in the firm. This is because the bringing of different
ideas at one place will help the concerned banking firm to gain knowledge from various
individuals of both the external and internal environment of the firm. The different thought
processes and ideas will bring the collaboration of ideas together and will help the
organization have varieties of thought processes to choose the best innovative design.
Specifically, the more the ideas generated, the better the follow-up of the same.

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Idea Conversion
The second critical stage in the innovative value chain is converting the lots of good
generated ideas. Generation of various better ideas is undoubtedly a good thing, but the way
the same is handled is a matter of complete different fact (Strauss 2017). The new ideas that
are brought into the light will only prosper when the same are screened adequately and are
dealt with the proper funding mechanism. If the same fails, the ideas generated will create
chaos and bottlenecks in the entire organization of the National Bank of Oman. Thus, the
concepts that are generated should be effectively brought into communication and be dealt
with the best commercial skills in the concerned banking industry so that the employees can
move forward with the concepts that are generated for the new technologies and innovation.
The concepts that are selected for the further development of the banking organization needs
to be planned and processed as per the needs and demands of the same.
Idea Diffusion
The new ideas and concepts that have been sourced, funded as well as developed are
still left to be diffused so that the same receive buy-in from its connected stakeholders. The
concerned banking industry should focus on gaining the relevant constituencies that would
help it to spread and promote its products and services as well as its business practices that
are desirable across the geographical locations the same operates in. Therefore, the National
Bank of Oman is a large company of operation with various subsidiaries and firms; the
diffusion of ideas cannot be automated in the same. The ideas in order to be diffused the
company needs to be focused on its extensive products and services to be of a superior all
over the value so that the same will be capable enough of satisfying the demands and desires
of the clients and customers connected to the banking organization (Annarelli, Battistella and
Nonino 2019). In this connection, the report suggests that the executives connected to the

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banking organization under discussion here in the paper should view the innovation and
creativity process of the organization as an engaging link analysis that would help them to
learn and train themselves in the field of creativity and innovation. Better training and
learning will foster innovative strengths in the employees of the National Bank of Oman.
Thus, the managers would be able to screen and fund the ideas adequately that would help
them to work on the strategic planned desires and goals. The senior management of the
organization should implement the brainstorming sessions that would motivate the employees
to work with their higher efficiency and interest when there are changes that come up in the
proceedings of the organization connected to the synergy of creativity and innovation.
Creativity and Innovation in the National Bank of Oman
The degree of creativity and innovation in the aspect of National Bank of Oman is
considered as the process of service interaction the firm maintains with its clients and
customers (Tuli 2019). In consideration with the technological advancements that are
witnessed by the contemporary economies that are reflected significantly on the performance
level of the different economic sectors that are available to the banking sector, the National
Bank of Oman has successfully achieved the advantage of competing for the business market
in the same. The concerned organization is known to generate the most considerable
capability of knowledge in the training of its employees to lead them to best synergy towards
the concept of creativity and innovation. This, in turn, helps the employees to provide the best
services to its customers concerning the ideology of creativity and innovation.
Moreover, the National Bank of Oman has also led its innovation and creativity
strategies in the department of increasing the employment of workers in order to revitalize the
national economy of the nation in general (Halseth and Ryser 2017). However, due to the
drawback of the study and the limitation of the studies towards the focus of creativity and

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innovation in the sector of banking industry; to examine the appropriateness and measuring
the impact of the nature of interests about the aspect of creativity and innovation in the field
of banking becomes difficult concerning the viewpoint of the customers.

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Action Plan to promote individual innovative thinking
Action to be taken Individual
Responsible
Time Taken Cost to be Incurred
Discussion Forum The Senior Level
Management and the
CEO
1 day Not Applicable
Analyzing of
problem
The Senior Level
Management
including the Human
Resource Manager
2-3 days Not Applicable
Examining the gaps
(Research and
Development)
Human Resource
Manager and other
managerial level
employees
3 days 50 Omani Rial
Setting the possible
solutions
Human Resource
Manager as well the
Branch and the
Deputy Manager
3-4 days 100 Omani Rial
Training and
Development
Human Resource
Manager
7 days 500 Omani Rial
Planning the
innovation strategies
Human Resource as
well as Branch
Manager
4 days Not Applicable
Implementing the
necessary changes
The senior-level
managers including
Starting the process
the day after the
850 Omani Rial

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the Human Resource
Manager
changed innovation
strategies are planned
Approximate
Conclusion
Hence, based on the examination of the above-presented report, it can tend to
conclude that any productive business entity in the concern of implementing better working
structure and making the better amount of profit and revenue, needs to follow the changed
form of innovation and technologies. This is because the adoption of changing technologies
and the new form of creativity helps the business firm to remain competitive in the market as
compared to its peer competitors and therefore gain an adequate level of competitive
advantage as well. Not only this, but the technological advancements also helps the business
organizations to remain advanced with the modernized form of working and make the tasks
easier for the employees which, in turn, increases the efficiency and productivity of the
overall firm. Similarly, the employees of the National Bank of Oman are kept focused on
using the synergy of creativity and organization for providing its customers and clients with
the best and fastest banking experience.

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References
Annarelli, A., Battistella, C. and Nonino, F., 2019. How to Trigger the Strategic Advantage
of Product Service Systems. In The Road to Servitization (pp. 95-141). Springer, Cham.
Chang, J.F., 2016. Business process management systems: strategy and implementation.
Auerbach Publications.
Collins, H., 2018. Creative research: the theory and practice of research for the creative
industries. Bloomsbury Publishing.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings
and cases in a global context. Routledge.
Halseth, G. and Ryser, L., 2017. Towards a Political Economy of Resource-dependent
Regions. Routledge.
Hatch, M.J., 2018. Organization theory: Modern, symbolic, and postmodern perspectives.
Oxford university press.
Jaques, E., 2017. Requisite organization: A total system for effective managerial organization
and managerial leadership for the 21st century. Routledge.
Perry-Smith, J.E. and Mannucci, P.V., 2017
Perry-Smith, J.E. and Mannucci, P.V., 2017. From creativity to innovation: The social
network drivers of the four phases of the idea journey. Academy of Management
Review, 42(1), pp.53-79.
Strauss, A.L., 2017. Mirrors and masks: The search for identity. Routledge.
Tuli, K., 2019. CUSTOMER SATISFATION ON UNITED COMMERCIAL BANK LTD.