Managing Innovation & Continuous Improvement|
Table of Contents
Part 2. Development of options for the continuous improvement – by fostering creativity and innovation5
Part 3. Develop options for continuous improvement - analyses7
Part 4. Implement innovative processes9
a) Some of the key systems and processes used within the organisation, or within one business unit of the organisation are – research and development, analytics, technology mapping, business development, market research, HRM, CRM and other business ERP modules like the Supply Chain management and the quality adherence framework. b) There would be a number of strategies I would use to monitor and evaluate the performance of these key systems and processes. Some of them include regular tracking of these systems and their productive potential. Balanced scorecard would be a measure with the help of which I would assess the performance and compare it with the leaders in the industry. I would continuously track the market share and sales revenue to figure out of these key systems has been performing. c) Human Resource Management is one key business process. It undertakes a lot of importance given the amount of control these individuals have over shaping the success of the organization. Moreover, the human capital is the most important asset and it calls for an efficient supply chain management of these resources so that the organization does not fall short of any skill and competency whatsoever. The operational aspects of this business process deals with how people tend to work along with each other and how do they interact, communicate and work together as a cohesive unit in defining success for the organization. d) Performance appraisal, and evaluation of the service rendered through the means of predefined parameters is how the Human Capital performance can be assessed. These are effective when proper planning has been done to track the progress, contribution and career development of the employees. The importance of continuous improvement of business processes is of major aspect the companies are their employees are looking forward to go ahead with. Task 2
a) The data pertaining to the performance of the organization on related factors suggests that there have been a significant amount of effort in this regard and that the organization has taken proper steps to assess all these issues as and when they come up. There has been little variance from what has been planned in the different KRA’s. As far as the budget performance is concerned the organization has been relatively accurate and tight on these measures. Customer service and OHS has been a top priority in their eyes and they have brought about huge satisfaction levels in these areas. Their performance has been exceptional and in competition with the leaders in the industry. Their financial performance over the last quarter has been tremendous with a profit of around 18%. The organization also maintains six sigma levels of quality and takes up socially relevant issues as a part of its CSR activity. b) If we are to conduct an analysis of trends and opportunities in the industry relevant to the organization under consideration we can come to the following conclusions. As far as the industry is concerned there have been a lot of developments lately with regard to the type of services being provided and the sort of additional benefits being offered to the different stakeholders. Moreover, people have been coming up with business process re – engineering where in these processes are tried to be worked upon in order to reap the maximum amount of benefits from them. c) There lie many hidden opportunities for improvements with regard to the use of technology or electronic commerce in various domains of business...