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Topic 7: Planning - Coggle Diagram
Topic 7:
Planning
:star: Definition
Ways companies develop new technology, products, or processes internally.
:pencil2: Planning: Complex Process
:world_map: Allow employees to dedicate time and resources to explore new ideas.
:moneybag: Provide funding for ideas that show potential for development
:dart: Establish challenging goals for sales and product development
:silhouettes:Encourage cross-functional teams to collaborate on developing new ideas
:fire:
Results
: become the most innovative company in the world
:star:
Innovate or Not to Innovate
:heavy_plus_sign:
Factors That Favor Innovations
:male-technologist::skin-tone-2: Better comprehension of the technology with practical applications
:rolled_up_newspaper: Higher potential to create the next iteration of technology
:pen: More authority over the process and results of innovation
:money_with_wings: Increased opportunity for profits by being the first to bring innovation to the market
:heavy_minus_sign: Factors That Discourage Innovation
:warning:
The risk of failure is higher
when developing products internally, as there is no guarantee for the success rate or introduced at the right time
:checkered_flag: Maintaining a constant flow of new products and processes can be challenging
:timer_clock: Developing new products or processes internally can take significantly longer than purchasing them from external sources
:linked_paperclips: Types Of Innovations
:chains: Process Innovation
:male-mechanic::skin-tone-2: Restructuring
The organization
may miss potential opportunities or threats.
The company
may face significant challenges
due to disruptions in its environment
Slow decision making due
to information not reaching the right individuals in a timely manner.
:female-mechanic::skin-tone-2:
Reengineering
Bennis and Mische have identified five distinct objectives for reengineering:
:sparkles: Optimizing value to shareholders
:trophy: Achieving quantum results
:arrow_up: Increasing Productivity
:loudspeaker: Consolidating functions
:red_cross: Eliminating unnecessary levels and work
:robot_face: Product Innovation
2. Applied: new product development
utilizes the new knowledge developed by the basic research to create new products.
3. Systems integration: product improvement or market expansion
Aimed at supporting existing business improvements or opening new markets with an existing product
1. Basic: pure research and development
involves the creation of new knowledge
:star:
Innovation Planning Process
Innovation planning involves five key steps
:dart: Establish Goals and Objectives
:bookmark: Set Strategy
:crossed_swords: Set the Mission
:film_projector: Specific Tactics and Actions
:telescope: Determine the Vision
Factors That Aid Innovation Planning
:earth_americas: Organization-wide issues
:speaking_head_in_silhouette: Communication
:star2: Reward System
:thinking_face: Organizational assumptions
:newspaper: Political issues
political actions can also be leveraged to benefit the organization
:computer: Samuel Plamisano of IBM and Bill Gates of Microsoft
used their power and political influence to effect radical changes in their firms' products and processes.
:lower_left_paintbrush: Creativity
:unlock:
Confronting:
Encourage cross-functional teamwork and collaboration
:walking::skin-tone-2:
Adventuring
: Encouraging employees to explore new ideas
:book:
Portfolio of Skills
: Encourage employees to ask "what if" questions to explore new ideas and possibilities.
:star: Technology Stages and Planning
The Four Stages
:evergreen_tree: Growth
firm consolidates the innovation it has generated
as the industry standard as some product designs become dominant
:file_folder: Maturity
The organizational emphasis moves even more to an efficiency focus
:male-office-worker::skin-tone-2: Start Up
discusses how the focus, information needed, communication, firm power sources, and types of innovation change during the life cycle of start-up
:arrow_down: Aging or Decline
innovation focus shifts towards avoiding losses and maintaining a position with the technology
:national_park:
Developing a climate for innovation
involves creating an environment where individuals and teams are encouraged to generate and implement new ideas
:office: providing resources for research and development
:!!: fostering a culture of experimentation and risk-taking
:+1::skin-tone-2: promoting collaboration and communication among employees
:left_speech_bubble:recognizing and rewarding innovative ideas and efforts