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Change and innovation are responses to internal and external factors that alter an organization's current state. Innovation creates new products, processes, or services to improve efficiency, effectiveness, or competitive advantage. Managing change and innovation involves processes, tools, and techniques to guide various aspects of change and innovation initiatives to achieve desired business outcomes. Triggers for change and innovation can come from customer needs, technology, the competitive landscape, economic conditions, regulations, or decisions within the organization. Effective management of change and innovation provides benefits like enhanced productivity, superior process control, high returns on investment, and the ability to adapt to a changing market.

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52 views5 pages

Slide 1 Bus 507

Change and innovation are responses to internal and external factors that alter an organization's current state. Innovation creates new products, processes, or services to improve efficiency, effectiveness, or competitive advantage. Managing change and innovation involves processes, tools, and techniques to guide various aspects of change and innovation initiatives to achieve desired business outcomes. Triggers for change and innovation can come from customer needs, technology, the competitive landscape, economic conditions, regulations, or decisions within the organization. Effective management of change and innovation provides benefits like enhanced productivity, superior process control, high returns on investment, and the ability to adapt to a changing market.

Uploaded by

tanmoy8554
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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MANAGING

CHANGE AND
INNOVATION
 Change is the alteration of current condition in response of various internal
and external factors

 Innovation is the creation, development and implementation of new


product, process or service, with the aim of improving efficiency, effectiveness
or competitive advantage.

 Management of Change and Innovation is the process, tool and


techniques of various aspects of change and innovation to achieve desired
business outcome
Triggers of Change & Innovation

• Customer need, desires or expectations


• Competitive offers
• New technology

External •
•
Changing demographics
Economic Cycle

Triggers
• Geo- political events
• Environmental change
• Societal change
• Industry structural change
• Regulations change
• Decisions
• Problems in operations
• Company growth or decline
Internal •
•
Leadership and personnel change
Changes in inter-organization alliances
Triggers
Enhanced
productivity

Coping up with the


changing market Superior control
and cunsumer over the process
behavior dynamic

Benefits of Right
Management of
Change & Innovation

High-impact Improved return


productivity out of investment

Channelized
process

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