Lead Innovative Thinking And Practice Answers

• Internal Code :
• Subject Code : BSBINN801
• University : Universal institute technology, melbourne
• Subject Name : Management

Task 5 Part 2

Ans (a) Summary:

There are two graphical representations, out of which one is corporate culture graph and the other is respondent’s evaluation graph. In the corporate culture graph it can be seen that the company is encouraging creativity and innovation as the people who strongly agrees have 32 percent, but it is not able to promote entrepreneurship and risk taking since the people who strongly agrees have only 13 percent. In the respondent’s evaluation graph, the company gives value to promote diversity of thought as the people who strongly agree have 26 percent, but it does not have methods to quickly prioritise ideas, since the people who strongly agree have only 9 percent. Also, the company is weak in educating their employees to be innovative and creative since it is having lower percentage like 11 percent only.

Ans (b) The following are the aspects of the innovation program:

1. Collaboration of thoughts

2. Novelty in idea generation

3. Proper implementation and creation of value

Ans (c) The following are the aspects of improvement in the innovation program in future:

1. Increasing investment in ideation and developing client understanding

2. Ensuring focus and sponsorship and establishing a favourable business values

3. Utilizing external sources of thoughts efficiently

The strategy by which aspect can be improved is increasing the investment in ideation and understanding the client in depth.