MBA 580 5-1 Sample File

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School

Southern New Hampshire University *

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MBA580

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Business

Date

Feb 20, 2024

Type

docx

Pages

6

Uploaded by Tia2698

5-1 Report: Process for Managing Innovation John Doe Southern New Hampshire University (SNHU MBA-580-Q1759 Innov/Strat High-Perform Orgs Professor: X 1/1/2030
5-1 Report: Process for Managing Innovation 2 Managing Innovation: All organizations need a process that can take its ideas from inception to product implementation. Many innovative processes can be incorporated based on the goals of an organization. The importance of a company's capability to remain innovative allows the company to incorporate new products better while addressing customer needs to increase its market share. The stage-gate, agile, lean, and discover-iterate-pivot strategies are the strategies that our company must fully understand to allow our company to choose the process that best suits our company’s vision as well as allow us to meet the continuous changes and demands found in the autonomous auto-industry. Stage-gate: The Stage-Gate process is a structured 5 stage approach that guides a project from inception(idea) to product launch. The 5 stages within the process are designed so that each stage is intended to gain buy-in and understanding from stakeholders to ensure the project can proceed to the next phase for success (Asana, 2023). Agile: The agile process is a collaborative approach in which a company can think about and structure its product development cycle (Scaled Agile, Inc., 2023). Agile Innovation methodology incorporates all departments within a company to ensure the primary focus is on the commitment to innovation to increase growth within the product development cycle. Within the agile framework, there is a reliance on continuous feedback, improvements, and adaptations to ensure the collaborative teams can promptly respond and adapt to constant market changes and ensure customer needs are met. Lean: The lean innovation framework primarily focuses on efficiency methods through customer feedback to minimize as much waste as possible in the early stages of the product
5-1 Report: Process for Managing Innovation 3 development cycle. Within the lean framework it prioritizes and encourages experimentation instead of long-drawn-out planning methodologies and places a higher emphasis on incremental as well as continuous improvements throughout the product cycle ( Joubert, 2023). Discover-iterate-pivot : The discover-iterate-pivot process is one that is usually found within startups and entrepreneurial environments (Cummings (2011). This innovation process places a high emphasis on experimenting while allowing for continuous learning and adaptations. The process begins with an initial idea. It involves starting with an initial idea, experimenting with the idea, gathering as well as analyzing feedback to look to improve the innovation process. Within the process a company can decide to pivot or change its innovative process strategy. Innovative process recommendation: Based on the provided information, the most suitable process is going to be agile. Agile is a team-based methodology that can better allow the company to constantly adapt to the ever-changing business circumstances and conditions within the auto-industry. The Agile Innovation Process will address these changes by simplifying projects into more manageable tasks. These tasks will be consistently reviewed to assess and adapt the most efficient ways of completing each task while accounting for market demand both internally and externally. Cross-functional team effectiveness: In our industry we must understand the importance of effectively selecting cross- functional teams to ensure we are able to achieve success within the organization. The cross- functional team will be comprised of employees from different departments/functional areas to
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