Innovation, Change and Enterprise in the UK

launching, depart and Enterprise in the UKCraig Rhodes1 (a) critically evaluate wherefore origination and enterprise is so heavy for the UK and global deliverance and what throw out be d angiotensin converting enzyme to encourage it?Developing an unveiling strategy requires a clear definition of what is meant by design. substructure is the legal commercial utilisation of bran- parvenu ideas. It refers to the scientific, technological, disposalal, financial, and affair accomplishments that preface to the introduction of freshly or substantially improved products, practices, services or entire business models.Innovation poop be incremental or extreme. It ranges from small receiptss in existing products, processes and services at one end of the spectrum to extreme modifications associated with find products, disruptive smorgasbord and brand unfermented ideas at the some other end. A great deal of mental institution takes place in the middle of the casing where placements larn and produce new products, processes and services for existing markets and consumers. Innovation is non al guidances determined by new technology. An organisation stool develop completely new products such as Apples iTunes and iPad platform victimization claimed technologies. Innovation involves varying degrees of risk and needs different resources and processes for its successful implementation. incremental ground take a crap encourages less risky enhancements by extending existing processes, products or services. Innovation almost always involves metamorphose.The word enterprise describes the actions of someone who shows some scuttle by taking a risk by setting up, commit in and running a business. (http//www.tutor2u.net/business/reference/starting-a-business-what-is-enterprise).This person pot seem to be willing to take a risk and do things happen. The person will show initiative by seeing a potential business opportunity and tries to make it work. Thi s fecal matter be seen as a bold or risky move for eccentric investing in an opportunity with the potential of losing the enthronization should it all go wrong. some of the time it will be a decisive person that shows enterprise. in that location is a need to innovate especially in UK/Global popular service organisations due to their importance and size in developed countries. In the past century public service organisation have bounteous at a great pace. Such organisations as the NHS and Ameri butt end knowledge for example have grown and to survive its vital that they take the fade in intromission. Drucker (2007) expresses that pubic service institutions face similar situations, the knowledge is in that location and the need to innovate is clear. They now have to learn how to build the entrepreneurship and debut into their own system. Otherwise they will find themselves superseded by outsiders who will force competing entrepreneur public service institutions and so ren der the existing one obsolete Drucker (2007)There is an increasing attention or support to Innovation, that psychiatric hospital development is hear to create/maintain/improve stinting/organisation competitive advantage and secure organisation sustainability growth. Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them Tadd, Bessant (2009, p1).The central affaire between Innovation, Entrepreneurship and variegate is that you batht really do one without involving the other is some form.An Innovation is the main source for an entrepeuneur, and its usally an innovation or entrepenuer that forces miscellanea within an organisation.Importance of Innovation and EnterpriseDrucker (2007) refers to innovation and enterprise as a venture that give the sack result in the creation of new wealth from making impelling use of existing resources. Innovation commences with analysing opportunities, systematically reviewing these and expl oiting these to gain maximum economic returns for organisations. Drucker (2007) has identified seven sources of opportunity that can lead to innovation. These include the enterprises own unexpected successes and failures and of its competition, incongruities (particularly in a process, for instance, production, distribution, or incongruities in customer behaviour), process needs, transforms in industry and market structures, demographic permutes, changes in meaning and perception and new knowledge (Drucker, 2007).Schumpeter (1934, 1939) classified innovation into five types new products, new manufacturing processes, new sources of supply, exploration of new markets and new methods of organising business activities. Product innovation is the invention and commercialisation of completely new products and services. Process innovation involves bringing considerable improvements in the way products be made. Process innovation takes place by adopting new technologies (Schumpeter (1934, 1939).Inauen and Schenker-Wicki (2012) innovation has pose crucial for companies as it is resulting in the availability of knowledge, is facilitating technology transfer and coalescence and is reducing innovation cycles. It is succoring organisations in developing and maintaining their competitiveness and achieving success. It is assisting companies in exploring and exploiting new opportunities for commercialization. Innovation is a critical driver of economic change (Inauen and Schenker-Wicki, 2012).The views of Inauen and Schenker-Wicki (2012) are consistent with Joly et al (2010). According to Joly et al (2010) innovation is essential for organisations as it helps them in the creation of new products that can solve their customers quotidian life problems. Innovation creates wealth and is a major driver of economic growth and development. Von Schomberg (2011) research also states that innovation is the key driver for organisational improvement and success. Niu et al (2013) believes that innovation and enterprise helps organisations in efficaciously exploiting new opportunities and using their resources to transform in advance(p) ideas into successful outcomes (Niu et al, 2013).Whilst thither is no doubt that innovation and enterprise is meaning(a) for the growth of companies, national and international economies, yet it does accept from some risks. The key risks of innovation and enterprise are that it requires considerable investment in financial and human resources. There is the risk that innovation can be copied by competitors. Innovation can be risky and lead to enigmatic commercial returns (Hayes, 2014).Innovation and enterprise can be encourage by understanding and applying the principles of change performment in organisations. Furthermore, using rough innovation, understanding national cultures, customers needs, crowdsourcing, user innovation, recruiting and training plurality, developing leaders can greatly assist organisations in in effect encouraging innovation. To compete effectively in intensely competitive business environments, organisations need to treat innovation as an essential part of their corporate strategy and not as a one off event. Continuous and consistent innovation is the key to organisational success in the global economy.Change caution Change Management is key to effective innovation and enterprise. It can be used to help employees go through the transition of accepting and implementing change within an organisation. no-hit change management enables employees to understand the reasons for change. Part 2 of this essay goes into depths of wherefore Change management is so important.Types of ChangeHarvard Business School (2003) states that businesses do to challenges of new technology, new markets new competitors and consumer demand with foursome programs to overcome these obstacles. These four categories of change areStructural Change Where the business is treated as a machine style mode l that are set up of different functions. During this change high level managements usually with the help of out-of-door consultants attempt to change these functions so they are able to accomplish a greater overall movement. Examples of previous endeavours for structural change have twisty company mergers, acquisitions of other businesses and closure/reduction of operating units.Cost harsh The main motivation for this type of change is the removal of areas of the business where on that point are less important activities and functions of a business where the company can squeeze extra cost out of operations. This may involve in department closures, redundancies or cuts in budgets when companies are going through backbreaking times.Process Change The aim of this change is fundamentally a way of making operating processes quicker, more effective, more reliable and less costly, so basically an emphasis on changing how things get done in the business.Cultural Change This change concentrates on the human aspect of the business, where an organisation focuses on the relationship between the management and employees and look at the methods of how they do business. A shift from command and control management to participative management is an example of cultural change. Harvard Business School (2003)Process of ChangeKurt Lewin a German-American psychologist introduced a straight forward model of process change which involves troika coiffes that helps to understand the change process.The first stage is unfreezing which includes helping an organisation and its employees accept that change is required. Examining old processes, systems, employees and ways of opinion can show employees how important it is that the organisation changes. Communication in this part of the process is extremely important as it allows the business to inform the employees of the reasons for change, how it will benefit them and when the change will go ahead.The second stage is the Change Step, the transition period, where the implementation of the change takes place. This will be the point in the change process where candor hits the organisation that change is definitely happening, this is where it is key to continue clear communicating as people will struggle to adapt to the idea of change, from this there will be resistance, panic and uncertainty.The final stage of Lewins model is Re-Freezing. This is the stage where the organisation looks for reinforcement and stabilisation after the implementation of change. This step was highlighted by Lewin as particularly important after Implementation to ensure that people do not revert back to previous ways of thinking or doing. The organisation has to attempt to guarantee the change is not lost(p) and is reinforced into the Culture of and thinking of the organisation moving forward.Theories of Change The supposition of change is a method that can help organisations in successfully achieving their change objectives and outcomes. The theory states that every change proposal needs to be carefully planned, requires the participation of others and needs to be evaluated to ensure that the planned activities are achieved. The theory states the long term goals of change and then maps these backwards to invest required preconditions (Brest, 2010). Organisations can successfully innovate through careful planning, pursuit the participation and engagement of their employees and evaluating the degree to which innovation has been effective in alter organisational performance.Recognise and diagnosing the need for change.Recognising and diagnosing the need for change can be done by analysing the types of change, the context of change, using the cultural mesh model and forcefield analysis (Johnson et al, 2010).Encouraging Innovation and Enterprise ConclusionInnovation and enterprise is very important for the growth, development and survival of organisations in the UK and in the global economy. Innovation and enterprise enhance organisations competitive advantages and improve performance and productiveness. However, innovation and enterprise suffers from the risks that it requires considerable financial investment and generate uncertain commercial returns.For businesses, innovation mode sustained or improved growth. The innovative company or organisation delivers higher profits for its owners and investors. For employees, innovation means new and more interesting work, better skills and higher wages. Equally, an absence of innovation can lead to business stagnation and a loss of jobs. For the economy as a whole innovation is the key to higher productiveness and greater prosperity for all.Innovation and enterprise can be promote by understanding and applying the principles of change management in organisations. Furthermore, using impart innovation, understanding national cultures, customers needs, crowdsourcing, user innovation, recruiting and training people, developing leaders can gre atly assist organisations in effectively encouraging innovation. To compete effectively in intensely competitive business environments, organisations need to treat innovation as an essential part of their corporate strategy and not as a one off event. Continuous and consistent innovation is the key to organisational success in the global economy.1(b) Using relevant examples consider wherefore innovation and change is often difficult to manage within organisations and how this can be overcome?In todays competitive business world change is the most critical factor in business. With heavy competition, technology and demographical forces push button towards business change. There are not many businesses that can scarper from change. The reasons for a business to adopt change is to maintain employee engagement, increase productivity and improve their performance to new levels. Sometimes change can be implemented due to a change in strategic direction.Change is brought in to make a dif ference from the past to the present. Change in the organisation can also mean embedding new technologies and creating new work practices into sections of the business. Technological change and new work practices in the organisation shows an jolt on the way the business going.If a Business decides on implementing change within the organisation, they will need a team of members to encourage and manage the change.Charles Darwin once said It is not the strongest species that survive, nor the most intelligent, but the ones who are most responsive to changeThe Change process can be a very complex problem and managing it is equally as complex. This is why change is a process that must be carefully planned and executed.So, why is it difficult to manage? Well you can start with the fact that Change can sometimes arrive unexpectedly. A business may not be ready for change.One way of overcoming difficulties when managing change is by having effective Leadership during the change process.The leadership approach has to be focused towards increase and continuous communication.