Response to Task A:
The Best Snacks Scenario presents one general problem but several opportunities to correct the problem. The Chief Executive Officer of Best Snacks, Elizabeth Fairchild, recognized the lack of innovation and creativity from Best Snacks employees by analyzing finical loses in their investor’s reports. Due the lack of profits Fairchild believes that several internal changes need to take place, starting with the employee innovation and creativity. To help Elizabeth fulfill her request she has for Sabrina McKay, the Vice President of Organizational Development, to discover how Best Snacks can increase employee innovation and participation on bringing new products to ...view middle of the document...
Best Snacks will gain knowledge from two larger companies, AT& T and Intel. Best Snack will learn how different organizations promote innovation and create an environment in which creativity is seen as a positive tool to build overall organizational performance
2. Experimentation-Fairbanks and her team can employ experiments into the healthy food market, which Fairbanks has recognized for its emerging market potential. The results of these experiments will help “guide the radical innovation process by defining the right questions and suggesting the best answers” (Davila, Epstein, & Shelton, 2006, p. 130).
3. Risk-taking is an important part of creating an innovative organization because to step forward in any new idea’s the company has to take a risk. The kind of risk is important, companies need to manage and evaluate both the pros and cons of each innovative opportunity (Davila, Epstein, &Shelton, 2006, ch.9).
4. Management’s role in initiating radical innovation and creativity.
Radical innovation forces that generate and nurture breakthrough innovation and include: Partnering with outside companies to create new ventures. Management is committed to supporting ideas outside the current strategy in initiating radical innovation and creativity. Availability of resources to support breakthrough ideas is analyzed by management. Barriers to breakthrough innovation include
• incentives focused primarily on avoiding risk,
• Breakthrough ideas are hard to implement in manufacturing and distribution,
• Perceived competition with existing businesses.
Radical innovations can create major shifts in an industry and put a company in the lead, however, investments in radical innovation need to be approached with caution. Radical innovations are by their very nature low-probability investments. Investing too much radical innovation can be based on unrealistic expectations and can waste valuable resources that could be better employed on semi-radical or incremental innovations. The key is to maintain a balanced portfolio of radical innovations so that the investment matches the business needs (Davila, Epstein & Shelton, 2006, p.53).
5. Innovation that fits. “A company sometimes unknowingly limits the innovation opportunities
it considers or chooses by assuming too narrow a range of opportunities that could fit the company” (Davila, Epstein & Shelton, 2006, p. 134). A company needs to know exactly where they fit; going too or far or staying to close may limit creative opportunities. “The key is to carefully define a company’s competencies and not only focus on the obvious aspects of the business” (Davila, Epstein & Shelton, 2006, p. 134).
Task B2: Generic Benchmarking: Companies
Response to Task B2:
AT&T is one of the technology giants in the world with their main priority in the cellular technology market. The partnership with Apple has increased AT&T profit line over the last three years and has helped make...