19 Jul Directions Choose a company/organization with which you are familiar or interested. Describing examples based on the organization’s actions, how?would you rate this organ

Unit 7: Discussion 1

Directions

Choose a company/organization with which you are familiar or interested.

Describing examples based on the organization's actions, how would you rate this organization on its product and process innovations and willingness to adapt?

Should the company use innovation as a purposeful strategy? Why or why not?

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Unit 7: Overview – Innovation and Leadership

Introduction

Strategic management and leadership are essential for success. To remain competitive, established firms must seek out opportunities for growth and avenues for strategic renewal. Strategic leadership skills are vital to ensure that strategies are formulated and implemented in an effective manner. Leaders must play a central role in performing three critical and interdependent activities: setting the direction, designing the organization, and nurturing a culture committed to excellence and ethical behavior. When these three activities are viewed as a ‘three legged stool,’ it can be seen that if a leader ignores or is ineffective in performing any one of the three, the organization will not be successful. Leaders must also use power effectively to overcome barriers to change and be aware the organizational and personal bases of power.

Leaders play a central role in creating a learning organization. Gone are the days when the top-level managers can “think” and everyone else in the organization “does.” Leaders must engage everyone in creating ideas and energy throughout the organization. Great ideas can come from anywhere in the organization; from the executive suite to the factory floor. A learning organization inspires and motivates people with a mission or purpose, empowers people at all levels throughout the organization, shares sources of information, and challenges the status quo to stimulate creativity. Innovation is needed to keep up with rapidly changing markets. Fostering innovation is an important strategy for success.