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Read the situation below and develop an innovation plan/strategy suitably.
Imagine you have been hired as a CEO in a toy manufacturing company. This company is the largest in your country, with the history of existence being over 30 years. You are very excited to be a part of this company. You go for your first day at work and as a week passed by, you observe that, the company has rigid rules and regulations and some of them may not even be realistic in present context. Furthermore, it has a complicated bureaucracy, and as the company has been in existence for so long the working pattern of staffs are still very traditional. Your observation gives you a reflection and understanding that the environment in the company doesn't encourage the employees to be creative and innovative.
As a young aspiring leader, you think it is very important for staffs in any organization to be given an environment where they can show their creativity and innovation. You also firmly believe that, if the company does not incorporate creativity and innovation as one of their core strategies, it will soon enter to the verge of obsoleting. You want to talk to the Board of Directors about this. To communicate your idea more strongly you want to develop a detailed plan as to how will you bring a change that you desire in this company for the company’s growth.
So, your assignment is to develop that detailed plan for this toy manufacturing company as to how it can include creativity and innovation for its progressing and betterment in the next 5 to 10 years.
While developing the written plan please include the following sections mandatorily.
a. Introduction
- What is creativity and innovation?
- Why is it important for any organization?
b. Innovation Strategy
- Your specific plan/strategy for this organization.
- SWOT analysis of your innovation plan/strategy.
c. Implementation
- Depending on the present scenario, what could be some challenges you might face while trying to bring about change in this organization?
- Explain how do you plan to implement your strategy by overcoming those difficulties that exist.
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