Describe the Innovation Process: Imagining Designing Experimenting Assessing Scaling
Innovation is the process of creating new ideas and putting them into practice, and it must be nurtured, championed, and supported as a core organizational value.
Some innovation killers are:
• Lengthy development times
• Poor coordination
• Risk-averse cultures
• Avoidance of customer feedback
As a manager, how do I foster innovation in a company?:
Change the culture of the company.
SWOT analysis:
Strengths, Weaknesses, Opportunities, Threats in the external and internal environment.
Define Management:
Understand that management is a process of utilizing resources, efficiently and effectively, working with and through others, in a dynamic environment to achieve organizational objectives.
If your company moved into the international arena what would you do to prepare your staff?:
Global sourcing, exporting/importing, and licensing and franchising are the usual ways to begin. Strategic alliances, joint ventures, and wholly owned subsidiaries are direct investment strategies. Global Sourcing is the process of purchasing materials, manufacturing components, or locating business services around the world.
What is an objective, and write one.:
A specific statement of what you need to do to carry out a goal, with a deadline. Ex: Increase sales by 50% by December 25th 2013.
The 8 Functions of management: 1) Organizing – Deciding on the human resources structure of the organization 2) Controlling – Comparing desired results with actual results and taking corrective action as needed 3) Motivating – Providing meaningful work and valued rewards to individuals pursuing collective objectives 4) Leading – Providing meaningful work and valued rewards to individuals pursuing collective objectives 5) Communicating – Deciding on the human resources structure