MNGT3008 Advanced Innovation Management assignment sample UON Singapore

Innovation is key to the success of a modern enterprise. Innovation management allows for development and understanding of continuous improvement, strategically driven by user needs.

This course explores what innovation means in various contexts such as resource based interpretations or strategic competitive/open innovations with specific attention given to its role in advancing an organization’s culture- all essential parts that can help develop your own idea generation process!

A critical aspect of a modern enterprise is developing a holistic approach towards understanding how innovation has become fundamentally important on today’s world stage – specifically within organizations looking for sustainable advantages over their competition via creative processes geared around continual improvements lead by users (i.e., employees) themselves; even if they are often not conscious about it at first glance because these sorts changes have become ingrained in the culture.

TOA,TMA,GBA Assignment sample of Advanced Innovation Management module UON Singapore 

At the end of this course, Singaporean students will be able to learn Advanced Innovation Management module with the help of the following learning outcomes:

1.Demonstrate understanding of the tools and frameworks of innovation management;

To master innovation management, you need to understand the tools and frameworks for effective execution. This includes making good use of both internal and external resources for ideation; implementing a process which allows for agile changes according to market needs; leveraging creativity through the collaborative innovation process as well as uncovering new source of insight from “left-fielders”; create a culture that values difference perspectives by “frugaling” with funds and following an “open or hidden path” approach.

Read this sample: MGT555 Innovation and Strategy

Furthermore, understanding business intelligence is crucial given its fundamental role in connecting actionable findings from research into strategic goals such that products can be predictable, affordable, available and non-discriminatory. Ultimately this means having a good grip on various analytical tools like PESTLE, 5P’s and Porter’s value chain/analysis.

2.Analyse the importance of innovation for entrepreneurs, nations and modern enterprises;

In this assignment sample students will learned the importance for Entrepreneurs are consistently preaching innovation – it seems to be synonym for new. Innovation is critical to the well-being of citizens and a country’s economic growth.

The US has one of the highest rates of entrepreneurship in the world, and not by small margins–in 2011, there were more than 2 Million people with full time jobs from entrepreneurial ventures while 80% of all employers cited innovation and creativity as their top priority for why they hired this person! Entrepreneurial founders who have recently been interviewed hope that they will establish companies that “lead in various industries” or make an impact on social change.

The importance of innovation is well-known in the entrepreneurial field and has been increasingly acknowledged by enterprises. It enables companies to become more competitive, thus enhance their own financial performance and market position (Marshall, 2005). In this sense, innovation is a pivotal factor for any entrepreneur or modern enterprise.

However there are many practices that can be used to foster innovations; it’s hard when proving which approach will work best for you. Nevertheless we suggest that it first starts with basic steps like identifying problems and need gaps to provide solutions from within or outside your organization (Porter, 1985).

3.Reflect on the processes for delivering improved innovation performance and critically analyse capability development to explore and exploit strategic innovation opportunities;

In this assignment example student will able to learn the processes for delivering improved innovation performance. It helps to reflect on the processes for delivering improved innovation performance on a regular basis to track the effectiveness and efficiency of changes made. It also helps in identifying what went well and not so well, as it is easy to become preoccupied with day-to-day activities and lose perspective on any ways that could be done differently or better.

The team must articulate why they are taking time away from their project to reflect. Explicitly stating this motivator will clarify why change justifies spending the time reflecting in this way; otherwise, without such justification, it is very difficult for an organization’s users such as customers or management might view disconnection from a task at hand as a potential waste of resources.

This means that it is important to build up analysis skills and an analytical mindset in order to develop the capability to explore and exploit strategic innovation opportunities. You should be looking for partnerships, alliances, or mergers as well as acquisitions or new divisions when you are at this level of analysis.

You have acquired what some would argue is the necessary qualifications, understanding on how strategy can change a market environment, market knowledge on specific markets such as information technology (IT), analytics, or digital media. Now is the time to innovate strategically using insights from your past experience in managing knowledge capital assets within organizations.

4.Critically analyse innovation concepts and context such as open innovation and the sharing economy;

The open innovation model is based on three main structures that involve mutual information exchange, deep integration between firms and a mix of formal and informal knowledge exchanges. This depends on the organizational context in which it is exposed to as some will not allow for higher levels of informal communication.

Furthermore, this model requires a high level management commitment to be successful as they need to know what changes are needed in order to reach the take off point for an edge company.

For example, resource allocation can present challenges as these needs change when considering growth within the company. It can also be difficult at times to know where all resources should go depending on size constraints and timelines. A key motivator for managers should lie at the possibilities around retrieving profits by extracting from the pools of knowledge capital.

The key motivator for managers can lie at the possibilities around retrieving profits by extracting from the pools of knowledge capital. Managers will need to explore, experiment and invest in new products or services that are already existing within their organization or a third party’s for example (Wernerfelt, 1984).

5.Demonstrate the effective application of theories, tools and frameworks to case study and/or real-world settings.

Professionals are required to always demonstrate the effective application of theoretical insights, models and frameworks to case studies. For example, in a crisis management scenario, one demonstration may be an analysis of how different theories or frameworks would have influenced the intervention plan.

The level of competence is expected to grow with increasing years on the job and experience in related domains. People want trusted experts who can solve their problems and move them forward in some way. Having a broad knowledge base that spans disciplines and domains will allow people to move from being reactive problem solvers to anticipating problems before they arise.

EMDA offers approach that may help professionals manage organizational problem facing globalization such as communication ills only occurring on the organizational level but rather can include conflict with employees within an organization and/or outside of it. However, EMDA also provides a process through which this conflict can be managed to the benefit of parties from different cultures and across organizational boundaries.

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Further you can check our sample like Leadership in Service Innovation,  Financial Technologies and Innovations  etc.