Task A: Problem/Opportunity Statement
Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team members.
Response to Task A:
The Best Snacks Scenario presents one general problem but several opportunities to correct the problem. The CEO of Best Snacks, Elizabeth Fairchild, recognized the lack of innovation and creativity from Best Snacks employees by analyzing finical loses in there investors reports. Due the lack of profits Fairchild believes that several internal changes need to take place, starting with the employee innovation and creativity. In order to help Elizabeth fulfill her request she has for Sabrina ...view middle of the document...
These four research areas will help Best Snacks create a strong implementation plan and overall strategy for how to increase innovation and creativity in their organization. Best Snacks will gain knowledge from two larger companies, AT&T and Intel. By covering these four research topics with 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.
Systems for Ideation: Seeing the gaps- Elizabeth Fairchild has acknowledged a gap exists in Best Snacks innovation and creativity process. Improving on this element of the business model will maximize Best Snacks potential to regain market share and meet the demands of the changing market.
Structured Idea Management (SIM)- This process helps firms from making mistakes during the innovation process (Davila, Epstein, & Shelton, 2006). Fairbanks and her team need to understand the differences between incremental and radical ideas. They do not want to minimize their chances of innovation and creativity because they are afraid of the risks associated with unanswered questions. Fairbanks wants a radical innovation process in place and can ensure her team is willing to accept and explore ideas with risk by identifying the differences between radical and incremental innovation early in the process.
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, et al., p. 130).-
1. 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, Chapter 2,...