Leading Innovation and Change

ILM LEVEL 5 AWARD IN LEADERSHIP AND MANAGEMENT

WORK BASED ASSIGNMENT M5.05: Leading innovation and change

Name: Jason Olley

DRAFT REPORT

Date: 26th October 2013

AC 1.1 – Explain the importance of innovation for own organisation

Innovation is what creates jobs and promotes growth within Norland. Organisational leadership development helps both business and industry explore new markets. New business skills like searching the Net for competitive advantages are helpful where organizations want new ideas.

Innovation is one of the main drivers of success but how many companies really understand this new social media in order to properly research and use the vast information? In other words, the Internet has tons of information on every subject matter but is information alone the key to success within Norland?

No, information is the starting point. Innovation in an organisation refers to its ability to introduce new goods and services in the market. Today’s clients are continuously looking for new goods and services. Their tastes change as they access more information. Today’s clients are better educated. The question becomes how can Norland’s leaders better equip themselves to find new markets and satisfy this new demand?

I have researched articles on innovation and reason for innovation in the organisation and the below statement from businessskillsfortoday.com is one I take interest in;

Reason 1: Innovation is an Important Business Skill for Continuous Improvement

Business skills that show the executive leadership how to be more innovative is one answer. But why innovation? Because innovation provides organisational sustainability as a result of continuous improvements, re-branding and repackaging. A good company manager recognizes the need to be innovative and develops the business skills to increase his/her creativity.

Reason 2: Innovation is an Important Business Skill for Creative Development...