Leading Innovation and Change in Business Management

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1) A key strength of technological innovation within an organization, is that this form of innovation makes an organization much more efficient and effective. A weakness of technological innovation, is the fact that this form of innovation can sometimes be very expensive and time-consuming to implement into an organizational paradigm. A key opportunity associated with technological innovation, is the fact that this form of innovation provides an organization with the opportunity to surpass its competitors in quality performance etc. A key threat to technological innovation, is the fact that competitive organizations are engaging in technological innovation as well, which increases the pressure for organizational leadership to continuously upgrade their technology as well.

A key strength to service innovation, is that this form of innovation helps to increase client satisfaction with the services provided by an organization. A weakness of service innovation is that the innovative methods utilized to innovate the service mechanism within an organization, are not guaranteed to produce the results that are desired. An opportunity commensurate with service innovation, is the opportunity to gain a larger customer base due to the word of mouth advertising by satisfied clients that have benefited from this service innovation. A threat to service innovation is the fact that there may be internal conflicts within an organization due to competing ideas about the best service innovation methodologies to utilize.

2) A challenge to leading innovative change processes within a multicultural and diverse organization, is the challenge of getting all of the individuals within the organization to totally understand the reasoning behind the change that is taking place. A solution to this problem is to have departmental managers to thoroughly explain the reasoning behind, and benefits of, the change process ...