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Q1. Organizations are moving towards adopting advanced technologies to increase their efficiency and effectiveness. Nevertheless, traditional viewpoints are still relevant in this new industrial age. Using a real example, discuss how the selected organization applies any of the traditional viewpoints to run its business amidst technological advancement.
Q2. Innovation is essential for businesses to remain relevant in today’s competitive market. It results from creative thinking. The impetus of these creative ideas is then translated into innovation. However, scholars have identified 11 challenges that could stop employees from producing creative ideas. Discuss four (4) creative idea challenges that you have faced.
Q3. In Human Resource Management, the question of whether a job is actually needed can be described using workflow analysis. Using an executive job as an example, describe how this job is created using the workflow analysis.
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- "management should actively work on a marketing strategy for a technological innovation only for expanding the acceptance of the technology beyond the markets originally targeted" discuss in 5 sentencesPart One: Indicate whether the following sentences are true or false: One level of incremental / radical innovation concentrates on causing a fundamental transformation in the resulting products or services and transforming the market place and/or the economy as a whole.Innovation is the driving force behind progress and growth in today's rapidly evolving business landscape. It involves the creation and implementation of new ideas, processes, products, or services that add value to customers and differentiate organizations from competitors. Successful innovation requires a culture that encourages creativity, experimentation, and risk-taking, along with the necessary resources and support from leadership. By fostering an innovative mindset and providing opportunities for collaboration and learning, organizations can stay ahead of the curve, adapt to changing market demands, and sustain long-term success. Question: What role do failure and experimentation play in fostering a culture of innovation within organizations, and how can leaders effectively manage and learn from failures to drive future success?
- Use your own words to describe what is “disruptive innovation”. If you consider the industry structure (i.e., the 5 forces), is disruption innovation considered as the threat of new entrance, threat of substitutes, or Rivalry among existing competitors and why? Please list five (5) disruptive innovations in other industries (not automobile or related industries, as we will discuss the industry in detail later)Q1 The process of technological innovation is a complex set of activities that transforms ideas into scientific knowledge into physical reality and real-world applications. (a) Discuss FOUR (4) lessons that can be drawn from Xerox case from the perspective of management of technology.A way of avoiding the discontinuous innovation and market destructionassociated with radical innovation is to be able to manage the transition to newtechnologies that have more potential, to “cross discontinuities” effectively.Foster considers certain strategic errors to be the cause of companies’ marketlosses in the face of technological changes. Using your own words, discuss these strategic errors.
- How to respond into this in 100 words? Social trends can significantly impact business in high-tech industries, presenting both opportunities and threats for organizations and their strategic management. Social and technological forces are two of the four categories that comprise the microenvironment, or external environment. Social forces are related to values, beliefs, and culture while technological forces are related to advancements such as automation, artificial intelligence, or digitalization. An example of how social trends present both opportunities and threats to organizations operating in high-tech industries is the rise of electric vehicles (EVs). The growing interest and demand for electronic vehicles present great opportunities in the automotive industry. As more consumers prioritize sustainability and seek to reduce carbon emissions, EVs are becoming a more viable and popular choice. This interest based on the values of sustainability and green transportation has…It is very true that the concepts of innovation and entrepreneurship are interrelated. Innovation isthe process of creating something new. Entrepreneurship identifies the opportunities in greatinnovations that creates opportunities, adds value, and keeps the value improving over a period oftime. The innovation process involves a series of key steps that organizations follow to foster andimplement innovation. Discuss the common steps involved in the innovation process in depth withrelevant references and examples.1. Conduct research on emerging technology trends and technology disruptors. Find a story on a technology disruptor that changed business for the industry it impacted. You can use internet sources that are authoritative, but do not use blogs for this research 2. Describe the highlights of the story that you found about a technology disruptor 3. Explain the positive and negative impacts it had on the industry and specific competitors in that industry 4. Describe one technology trend that you see as a potential disruptor to its industry and explain why you see it this way 5. Provide at least one reference to support your response
- Think about the seven contextual factors in relation to your business and industry over the next three years. Of the seven contextual factors, which ones does your department, unit, or organization need to pay attention to? Which ones will be most impactful? Rank the seven contextual factors from high to low impact. Your responses will remain private. Selecting a ranking will move the item to the chosen spot in the ranked list. Contextual Factors Technology: The impact of new technological innovations in both the products and services that companies produce and provide in addition to the ways in which they conduct business. Consumerism: The impact that consumers have in shaping the ways in which companies produce, market, and sell products and services. Labor: The role that employees and the broader workforce play in shaping the conditions in which businesses operate. Demography: The age, race, gender, religion, ethnicity, family size,…Does innovation thrive best under market forces, or are non-market forces the way to go? Why or Why not"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.