Importance of Innovation for An Organisation Report - Management Assignment Help

Assignment Task

You work for an Australian organisation (select one that you can find sufficient information online about). You believe that there are many opportunities for your organisation to become more innovative, in fact, you believe it is essential. However, you feel that many individuals in your organisation do not fully understand innovation or why it is important. You decide to prepare a plan for your direct manager to highlight why innovation is needed and to then identify an innovative idea for your organisation (this part comes in the next assessment). You will prepare this plan in two parts. This will be your first submission to your manager. In this part of your plan, you will outline why innovation is important for your organisation and provide an overview of key concepts that must be considered for your organisation to become more innovative. To help demonstrate the potential benefits (and possible pitfalls) of innovation for your organisation, you should draw on examples from organisations in similar sectors or facing similar challenges. These examples will illustrate to your manager what innovation is and what it looks like in your sector; overall, ensuring that your manager understands the value that innovation can generate for your organisation.

Purpose: Outline why innovation is important and provide an overview of key concepts that must be considered for an organisation to become more innovative.

Objective: Prepare a plan for your direct manager to highlight why innovation is needed, ensuring that your manager understands the value that innovation can generate for the organisation. Students should demonstrate ability to:

• Describe what innovation is

• Explain the importance of innovation for an organisation and identify the challenges that an organisation might face when pursuing innovation • Explain the different forms of innovation and how different contexts shape the form of innovation an organisation might pursue

• Explain how the organisational context can be developed to facilitate innovation

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