How leader create a work environment that fosters innovation

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Reference no: EM133567745

Homework: The Role of Creativity and Innovation in Business

For this Homework, you will continue your role of a consultant who has been brought in to help the leadership of a company struggling to evolve in the current market. You will present a report to the CEO in which you analyze the relationship of creativity and innovation to business practices. For your reference, the scenario that was introduced is included here again.

The company's CEO, Gabriel Marron, has been resistant to change for the past 25 years, and the company recently began losing market share to other competitors. After months of being in denial, the CEO is finally open to considering the idea of implementing innovative approaches to reclaim the company's former position at the top. Gabriel admits that it is simply not in his nature to value innovation. Sticking to tried and true methods has always worked favorably throughout his career, but you are being brought in because that is proving to no longer be the case. In your report, you will draw the connection between creativity, innovation, and business practices.

With those thoughts in mind, construct of your report to the CEO with the following section, being sure to incorporate appropriate business examples (as indicated), as well as citations for relevant academic resources from the classroom, the Walden Library, and/or other appropriate scholarly sources to support your work.

To prepare for this Homework:

Return to your Module Homework Template to complete your report.

Task: Incorporating Innovation

Submit your analysis of the role of creativity and innovation in business, in which you address the following in a 3 to 4 page business report (excluding references):

Question A. What does it mean to incorporate innovation into business practices (as opposed to innovations made through product or service offerings)?

Question B. How can leaders create a work environment that fosters innovation? Be specific, including what factors are most conducive to facilitating innovation and developing an innovation mindset.

Question C. To support your assertions, do some research and locate at least two examples of organizations that reflect an innovation mindset and employ (or employed) innovation in their business practices. For each example, do the following:

Question 1. Describe the organization (including what type of company it is, what sector/industry it is in, etc.).

Question 2. Provide specific examples of how the organization employs (or employed) innovation in its business practices.

Reference no: EM133567745

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