200862 Creating Change And Innovation

Introduction

There is significant emphasis about implementation of innovation across the corporates in order to attain goals and objectives. Developing business process improvements and also coming up with ground breaking strategies and target new markets offers substantial capability or potential for increasing efficiency, market share and competitive advantage which is what everyone in the corporate world is seeking (Klein & Knight 2015, p 244). But innovation in itself can be a bit complex as it involves highly complex and large-scale organizational change with several interdependencies. The main challenge faced by innovative organizations is in ensuring that enough attention is given to the implementation of all the fabulous ideas necessary. Inn this report, we shall explore certain innovations and their implementation process in an organization. We shall also take a look at the changing organizational culture of today’s businesses and their importance to the business.    

PART 1

Innovation plan

First is to define the practices by getting alignment around business case and scope for change, which includes human, business and technical objectives for the changes described in a succinct business case for action and also identifies prospective disruptions. Secondly, build change agent capacity through developing highly skilled and qualified network of agents of change who will be able to implement the brilliant practices at the local level. This is due to the fact that even at the corporate level, implementation of innovations starts at the local level. Thirdly, assess if there are any cultural barriers to these practices inherent in the bank and how to overcome them if present for successful implementation of the changes (Kenny 2013, p.49). Fourthly, generate project sponsorship by finding sponsors who will be willing to reinforce the new behaviors associated with the changes down and across the bank.

Fifth, prepare the bank by managing and surfacing resistance to the changes. This is due to the fact that innovation is disruptive which means that, even with forward progress, resistance is inevitable. The other thing is to build a plan for communication by applying multiple methods of delivery to communicate about the changes around innovation to the bank employees and then create feedback loops so as to gather data from the employees. Lastly, develop reinforcement strategies as they will be positive consequences for the employees who are on board with the brilliant practices as well as negative consequences for the ones who are against them. These reinforcements should be meaningful to the employees and should be applied with certainty and immediacy (Christopherson., Kitson  & mihie 2011, p.68). The sponsors should be reinforced too as doing away with the traditional structure so as to foster innovation will require a significant change of behavior on their part. 

Appraisal of the practices

These brilliant practices for change involve organizational culture where culture is a key issue for change and also something crucial that should be taken seriously for change to be possible. Also, given that we are living in a time of dynamics, turbulence and movement, development, change, and innovation are to be managed continually in the organization (Alvesson & Sveningsson 2008, p 260). The bank’s competitiveness is dependent, to a greater extent, on these changes and improvements. From a processual approach, the brilliant practices will interweave, over time, intending to identify interlocking activities so as to gain temporal understanding. It includes how the employees make and give sense to their change experiences and also how these changes influence them (Dawson 2012, p 340). Also, this change is as a result of operational and administrative actions and decisions taken by the organization’s members daily. These actions and decisions are aimed at adapting the bank to these practices and the political struggles between various departments over their priorities (Knights &McCabe 2003, p.81). Processual changes involve an understanding of the chaotic and complex organizational reality.

PART 2

The practice that could be implemented in another department of the bank is “no lunch breaks at the desk” which if properly implemented, could get positive responses from the staff members. One way to exchange knowledge about the innovation is for the project team to include all individuals responsible for important functions which will ensure that the desired outcomes are incorporated in the experimental analysis, design and the extension plan. Also, innovation processes face some risks like investing in unsuccessful projects and also failing to meet the costs required. This risk could be managed through investing enough time and resources in formulating a plan on how the innovation or practice could be successfully implemented.

Also, people and money are valuable resources that help in supporting innovation. A team of innovative individuals who have access to the equipment and who dedicate their time for innovation is needed so as the money is properly utilized (Klein & Knight 2015, p 244). One way to tell if this practice will be of value to the bank employees is by measuring their productivity as innovation improves employee engagement to their work which improves their productivity and their job satisfaction is highly rated. If the employees are happier and there are more productive employees, then the brilliant practice has been accepted. To measure the success of the plan, one should use operational metrics which are tied to the strategic objectives and also focuses on moving the employees to follow the practice in place. 

Conclusion

Despite the challenges involved, many knowledge-based organization are capable of balancing the innovation’s competing nature as well as of efficiency by dealing with the problems that are brought by implementation of new innovations through managing knowledge exchange effectively, focusing on innovations that are meaningful, enhancing the culture of knowledge sharing and collaboration and also finding effective ways of dealing with organizational changes. Also, change is inevitable in the world of business as it can lead to negative or positive results to the employees and the company as a whole. By implementing new innovations, the organization shifts its focus to other different opportunities or threats which could be implemented or prevented, hence ensuring the company’s success and also maintaining their position in the industry.

References

Alvesson, M., & Sveningsson, S 2008, Changing organizational culture: cultural change work in progress, New York, Routledge, PP. 260-261

Christopherson, S., Kitson, M. and Michie, J., 2011. Innovation, networks and knowledge exchange, pp 64-78

Dawson, PM 2012, Organizational change: A processual approach. Paul Chapman Publishing, pp 332-351

Kenny, J 2013, Effective project management for strategic innovation and change in an organizational context, Project Management Journal, vol. 34, no. 1, pp.43-53.

Knights, D & McCabe, D 2003, Organization and innovation, McGraw-Hill Education (UK), pp 81-82

Klein, K.J. and Knight, AP 2015, Innovation implementation: Overcoming the challenge, Current directions in psychological science, vol. 14, no 5, pp.243-246.