Innovation and Change Analysis of Hallmark
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Innovation and Change
Modern businesses operate in a challenging environment with rapid economic, political, and technological changes. Organizations must be able to manage innovation to thrive and also adapt quickly to unexpected shifts in markets. Respond to the following questions by drawing on all you have learned in your reading and research this week.
QUESTIONS:
1. What are the hallmarks of strategic innovation? How important are organizational features in encouraging or stifling innovation? You should present evidence for your views drawn from research and practical experience.
2. How useful is linkage analysis in helping managers to visualize change processes and overcome barriers to organizational improvement? How would you apply this kind of analysis to problems in a traditionally organized company wishing to promote innovation and become customer-focused?
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Solution Summary
Innovation and change analysis of Hallmark are examined. How important are organizational feature sin encouraging or stifling innovations are determined.
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Innovation and Change
Innovation and Change
Modern businesses operate in a challenging environment with rapid economic, political, and technological changes. Organizations must be able to manage innovation to thrive and also adapt quickly to unexpected shifts in markets. Respond to the following questions by drawing on all you have learned in your reading and research this week.
QUESTIONS:
1. What are the hallmarks of strategic innovation?
Innovation is a tool that enables companies to achieve unique, strategic goals. The following are seven essential characteristics of innovative companies.
1. Unique and Relevant Strategy
The key characteristic of an innovative company is having a unique and relevant strategy. A company needs to make their strategies clear and relentless to follow. If a company doesn't have a definable, unique strategy, the company will not be innovative.
2. Innovation Is a Means to Achieve Strategic Goals
Highly innovative companies don't view innovation as an end, but rather as a means to achieve their strategic goals.
3. Innovators Are Leaders
Innovation allows a company to be a market leader. When a company uses innovation to achieve their strategic goals, they have to take the lead of their markets. However, this doesn't allows translate into being the most profitable or successful.
4. Innovators Implement
Companies have a lot of creative employees with a lot of ideas. However, a key differentiator of an innovative company is that innovators actually implement ideas.
5. Failure Is an Option
A key critical element of business culture of an innovator company is to allow employees the freedom and encouragement to fail. When employees know that they can fail without ...
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