Identify Three Common Internal Stressors that Create a Need for Change: Innovation and Change Assignment, VU

Part One

Answer the following questions.

Your answers should be one to two paragraphs in length unless otherwise stated, using your own words and providing examples to illustrate your answers.

1. From your reading, identify three common internal stressors that create a need for change. Provide an example of each from your own experience and what it means in terms of change.
2. In your industry or business, what would you consider is currently the major external pressure for change? Explain the stressor and what it means for your industry or business.                                                                                                                               

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3. Explain the difference between creativity and innovation.
4. Explain the internal and external sources of information about business markets, customers, and methods that can influence innovation. Provide a minimum of two examples of the internal and external sources of information.
5. Focussing on the organization of your choosing; explain the structure and goals of the business and how this impacts business relationships, processes, and methods.
6. Focussing on the organization of your choosing; compare and contrast the culture of the business versus traditional business models.
7. When developing business innovation explain the related legal, ethical, and security issues.
8. What is the purpose of a cost-benefit analysis? Describe the steps involved in undertaking a cost-benefit analysis.
9. Using a diagrammatic format, describe the change management cycle.
10. What is quality management? Outline two quality management and continuous improvement theories and provide an example of how they are used.
11. In 1999 Peter Senge was named a ‘Strategist of the Century’ by the Journal of Business Strategy for his work on exploring what makes a learning organization and the impact of his study on the world of business. According to Senge learning organizations are …organizations where people continually expand their capacity to create the results they truly desire, where new and expansive patterns of thinking are nurtured, where collective aspiration is set free, and where people are continually learning to see the whole together.
    • Outline the five disciplines that distinguish a learning organization.
    • Identify one organization that has embraced these disciplines and explain what the organization has achieved.
12. “Probability” and “consequence” are the basic concepts of risk assessment.
    • Explain what they mean.
    • Research and provide a commonly used risk assessment template using these concepts.
13. Thomas Edison was one of the most prolific inventors of the last two centuries, inventing such things as the electric light globe and the first motion picture camera. Yet he had many failures along the way. One of his most famous quotes is, “I haven’t failed. I have just found 10,000 ways that won’t work.” What does this teach us about how to manage the failure of our ideas in business?
14. Many organizational cultures are resistant to change and return to the old ways as soon as there is a change of management or the pressure is off. How can you ensure change is sustainable?

Part Two

Scenario

You have taken a role in a traditional family business. Nothing much has changed in many years and revenue and profit are declining because the company is starting to fall behind the times. The owners are looking to you for some fresh thinking, particularly about how to bring more sustainable practices into the business. Their power and waste removal costs are way above the industry average.

You have watched Drew Boyd’s Business Innovation Fundamentals on Lynda.com and this has encouraged you to try an ideation workshop with the staff to see if you can come up with one or

Task 1

Consider the following methodologies you have discovered from your reading on the subject and from watching the video tutorial. Describe them and explain how they are best used.

1. Brainstorming
2. Osborne Checklist
3. Six Thinking Hats
4. TRIZ
5. Multiplication Technique
6. Task Unification Technique
7. Attribute Dependency Technique

Task 2

Decide which methodologies or tools to use in your workshop. Explain why you have chosen these tools.

Task 3

Develop an introductory PowerPoint presentation for your workshop to brief the staff on performance improvement, sustainability, and innovation as an essential element of competition.

Task 4

Describe the process you would use to evaluate the ideas.

Part Three

Change Management Project

For this project, return to the work you completed on Made in France in your assessment on Managing Finances.

Your friends Mark and Sharon have now started developing their business strategy. You will find this under your Learner Resources.

Task 1

1. Consider the business strategy provided and identify the strategic change needs through an analysis of Made in France’s organizational objectives
2. Review existing policies and practices against strategic objectives to identify where changes are required. (Note: Where information is incomplete, you are expected to re-create the appropriate policies and procedures from what you already know about Made in France.)
3. Monitor the external environment to identify the events or trends that impact the achievement of organizational objectives
4. Identify major operational change requirements due to performance gaps, business opportunities or threats, or management decisions
5. Review and prioritize the change requirements or opportunities with Mark and Sharon.
6. In considering the priorities, Mark and Sharon have decided the introduction of a new accounting system is their priority. Consider what specialists and experts you should consult to assist in the identification of a new system.
   • Identify what sort of specialists or consultants you need to talk to
   • Develop a list of questions you would ask them

Task 2

Develop a Change Management Plan for the introduction of the new system using the template provided in your Learner Resources.

Task 3

It is not uncommon for IT projects to run into implementation issues, and you need to be prepared.

1. Develop

• a training plan for staff as a preventative measure
• a contingency plan as a back-up a continuous improvement plan to identify and fix any bugs                                                                                                                                                   

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2. Explain how you would ensure learnings from the project are captured and managed to inform future work you are doing with Made in France.