Describe the strengths and weaknesses in the organisation’s innovation management structure
This is a 2,000 word limit for your submission. This excludes references and appendices. Please include an Executive Summary (approximately 250 words, not included in word count) at the start of your finished paper. Please include a title page with the organisation you researched, your name and your final word count (for main body) of your submission. Include page numbers, separate indices of tables and figures, all appropriate in-text references and a bibliography.
As a Consultant, please make sure to format the report in a professional manner and make good use of Headings/subheadings/numbering. Note that we are researching on a financial services institution (Bank).
- Describe the strengths and weaknesses in the organisation’s innovation management structure.
- Discuss how the organisation currently sources new ideas, technologies and so on for its innovation activity. Evaluate, critically, the effectiveness of the current approach and discuss how this can be improved.
- Discuss how the concepts of lead user innovation, open innovation and disruptive innovation may or may not be applicable to the organisation’s sourcing approach.
- Provide a diagrammatic illustration (and a narrative) of the organisation’s innovation strategy, even if the organisation does not have an explicitly defined strategy.
- Propose how an improved innovation strategy may be developed, making sure that all the building blocks of an innovation strategy, as discussed in the module notes, have been addressed.
- Propose how this new strategy may be implemented. Describe how the process of implementation will be managed, both from the processual and change management points of view.
- Discuss the potential challenges in implementing the proposed innovation strategy and how these could be overcome.
- Discuss how you would monitor the success of the new innovation strategy.
- Synthesise related theories and models from the module readings and literature.
