Project
Do not neglect the old for the new. The existing business must not lose priority simply
because an innovative idea has been suggested. Successful innovation requires support
from the existing business in terms of finance and other resources. However, when
assessing risk, you must take into consideration the impact the new activities are likely
to have on the existing activities. One aspect of risk assessment should involve
determining whether the new ideas/ improvements or innovations will prevent the
already successful operations from continuing to operate at the currently accepted
level.
Choose an organization you are familiar with. This might be an organization you work
for or you might need to conduct research into another organisation. Answer the
following questions in relation to your chosen organization, explaining and giving
verifiable reasons for your answers:
1 – Do you consider that the organisation is prepared to take risks in order to succeed?
2 – Why is the concept of risk essential to charge, innovation and the marketplace
success of organisations?
3 – What is the organisation’s attitude toward failure, mistakes and/ or lack of success
at the organizational level and the personal or individual leval?
4 –How does this make employees feel with regard to making suggestions, proposing
new ideas or attempting to develop new products, services or markets?
5 – How do you think mistakes should be viewed, if the organization is to proactively
support innovation and change?
6 – How can frontiline managers encourage and support employees so that they
contribute new and innovative ideas?
7 – What kinds of work condition and procedures are in place or should be in place to
support innovation?
8 – What barriers to innovation exist within the organisation?
9 – How can managers lead by example when it comes to innovation?
10 – What training or learning opportunities might be provided so that employees can
develop appropriate innovation skills?
11 – Why do you think managers should regulary evaluate their own approaches for
consistency with the wider organizational or project context?
12 – How does the organisation’s physical environment support innovation? How might
it need to be changed?
13 – Outline any legislative framework that impacts on operations in the relevant
workplace context. (2500 – 3000 words) You should address all the topics in this unit of work but might also supplement this
information by carrying out your own research. Remember to properly cite any sources
used.
