Innovative and Creative Skills in Business

Subject NameInnovative and Creative skills in businessTopicEvaluation and Control in innovationWeek12 Chapter Overview Once a firm chooses internal innovation as a strategy to gain competitive advantage, it must determine what it hopes to accomplish (plan), then seek to achieve those innovation goals (implementation), and ultimately, determine if it is making progress toward those goals (evaluation). If it is not meeting those goals, it must make the necessary changes to move in the desired direction (control). Therefore, evaluation and control test whether the organizations goals are being met or if not, making changes necessary to achieve the goals or amend the goals. The organization cannot assume that its goals and actions will automatically lead to success or that its goals and objectives will remain relevant over time. This chapter addresses the evaluation and control processes when a firm focuses of an internal innovation strategy. Evaluation and control are ongoing processes in the firm. Initially, the manager evaluates the current environment (internal and external) and future trends to determine if there is a need for change in the strategy, goals, or implementation processes. Control is the next step in the innovation process as the manager makes adjustments in the strategy and goals or the organizational actions as a response to the evaluation. This adjustment process involves making decisions about the firms plans for the future. Learning Objectives On successful completion of this topic students should understand the importance of evaluation and control in innovation in order to achieve the desired outcomes. Learning Outcomes On successful completion of this topic students should be able to Doing periodic gap analysis. Ensure appropriate controls for personnel. Design a support structure for evaluation and control processes. The evaluation and control process Evaluation and control processes are commonly combined in a business. They are