Running head: MANAGING INNOVATION o o o o o o
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5-1 Report: Process for Managing Innovation
MBA 580
SNHU
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1. The most suitable or appropriate process for managing innovation in a
changing external environment:
In general, every business conversation and event begins with the simple term
innovation. An innovation management process is basically a systematic approach for
prioritizing, generating, validating, and evaluating new ideas and strategies as well as
implementing or practicing them (Kylli, 2019). In the changing external environment,
the most suitable process for managing innovation includes the below four processes:
Stage-gate: The stage-gate or phase-gate process is the single most popular process for
the innovation of the product, including different variations of the process (Kylli,
2019). Here, the organization can develop its products with new ideas within the
limited resources.
Agile: Agile is an approach and often a pull-based process used to obtain better
results for the organizational projects by favoring interactive work, incremental changes,
and collaboration in a sprint sequence (Change management meets agile, how does that
work? and Change, 2021).
Lean: Lean Startup model basically operates with limited resources in a complex,
unpredictable, and rapidly changing environment, which is best suitable for most
organizations (Kylli, 2019). Similarly, this lean startup model can be beneficial for the
present organization to develop its new product.
Discover-iterate-pivot: In this process, a minor change or a wholesale change can be
made in the business model to bring more opportunities for the market. If the
hypothesis validates with the experiments and interviews, the organization can move
forward with the current business model.
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2. The rationale for recommendation:
• The chosen process for managing innovation in a changing external environment
is the lean startup model and discover-iterate-pivot. There are many advantages
of the chosen process over others. The lean startup model is beneficial for the
organization as it reduces the constraints by understanding the customers’
demands and helping new ventures launch products (Why the lean start-up
changes everything. Harvard Business Review, 2021). When the organization is
identifying the current product is not able to meet the needs of the consumers;
it is essential to change the dynamics of the business or the direction of the
business. At this time, discover-iterate-pivot is helpful for the organization to
survive in the market by improving the market revenue (Council, 2020).
• In the changing external environment, these two important suitable processes can
be addressed for managing innovation by understanding the needs of the
customers towards the product and by understanding the market constraints.
3. Ensuring cross-functional team effectiveness in the process:
• Innovation is based on the long-term perspectives where the organization has to
look at the team's success by measuring the growth performance at each stage
of a project. Here, the success can be measured by focusing on the schedule,
cost, quality, performance to the business case, and stakeholders' overall
satisfaction.
• Further, the organization can conduct common change management performance
measures, including communication deliveries, training tests, and effectiveness
measures, communication effectiveness, tracking change management activities
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based on the plan, performance improvements, and training participation and
attendance numbers to implement changes coming out of success measurements
(Council, 2020).
• After that, the organization needs to review certain things to know that project
is done properly, like confirmation from the project team, obtaining customer
signoff, reviewing the project schedule for completeness, discussing with the
customer, and giving a summary.
4. Concerns of key stakeholders:
The select two departments are research and development (R&D), and marketing whose
directors are the audience.
• The key stakeholders included the government, employees, investors employees,
communities, suppliers, and vendors who will use the report in the organization.
• The key stakeholders have two concerns about processes for managing
innovation. The first concern is the development of positive relationships
between employees themselves and between management and employees.
Another concern relates to creating more value by using strategic innovation
and research and development in the organization that has an everlasting impact
on its survival in the global market (Ramakrishnan, 2020).
• Here, the stakeholder's concerns are valid as the employees and management of
the organization is the pillar of the company that needs to maintain a positive
relationship to provide a better quality of work to its audience. Moreover, it
can show its presence in the global market.
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References
Change management meets agile, how does that work? and Change. (2021, July 8).
Retrieved November 12, 2021, from https://www.andchange.com/themes/change-
management-meets-agile/.
Council, Y. E. (2020, July 6). Council post: How to pivot successfully in business.
Forbes. Retrieved November 12, 2021, from
https://www.forbes.com/sites/theyec/2020/07/03/how-to-pivot-successfully-in-
business/?sh=2293d0bc7316.
John 1. Bible gateway john 1 :: NIV. (2021). Retrieved November 12, 2021, from
http://web.mit.edu/jywang/www/cef/Bible/NIV/NIV_Bible/JOHN+1.html.
Kylli, J. (2019, November 27). Innovation Management Processes – figuring out the
right one. Viima. Retrieved November 12, 2021, from
https://www.viima.com/blog/innovation-management-processes.
Ramakrishnan, D. (2020). Stakeholder Management and Innovation. Available at SSRN
3559471.
Why the lean start-up changes everything. Harvard Business Review. (2021, September
17). Retrieved November 12, 2021, from https://hbr.org/2013/05/why-the-lean-start-
up-changes-everything.
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