Harnessing Creativity and Innovation in Organization for Excellence...

Harnessing Creativity and Innovation in Organization for Excellence  In the present day of complex and volatile global environment, an organization having rapid adaptability only succeed. The best practices of success of yesterday are no more valid and following of those practices can push the organization towards disaster. There are several examples of the organizations which became so charmed  with, or paralyzed by, the status quo that they failed to notice the winds of change and faded into oblivion. A successful organization of today is aware that the work processes are changing at a much faster pace these days and it has to face the challenges of rapidly changing technology, globalization, uncertainty, unpredictability, and turbulence. Such organization understand the importance of harnessing creativity and innovation and knows that this activity is critical for the success of the organization in maintaining its competitive advantage as well as in its survival. Management of such organization unleash the talents of its employees and also harness all these diverse talents to yield a useful and cohesive result. Differentiating creativity and innovation Often creativity and innovation are considered synonym of each other. But these two words convey different aspects. While creativity is always been at the heart of human endeavor, innovation creates value and is recognized as central to organizational performance. Innovation is considered, quite simply, an absolute necessity for the survival of the organization. Creativity is a process of developing and expressing new ideas that are likely to be useful. The process of creativity ends in an innovation. Innovation is the embodiment, combination, and or synthesis of these ideas in relevant, valued, and new products, services, processes or procedures. Creativity is about the generation and sharing of ideas, while innovation is the process by which these creative ideas get implemented. The...

Organizational Agility for Excellence...

Organizational Agility for Excellence Organizational agility is the ability of the organization to manage continuous, rapid and sustainable change. It is the capacity and flexibility of the organization to be consistently adaptable to market and environmental changes with rapidness and speed. It is the efficiency with which the organization can respond to nonstop change. It is the organizational ability to exploit both revenue enhancing and cost cutting opportunities within its core business more quickly, effectively, and consistently than its  competitors. It makes the organization to operate at the speed with which the opportunities are getting created. In the fast changing complex environment of the present day organizational agility is  the key differentiator between organizations. Organizational agility is achieved by enhancing the organizational capabilities to identify and respond quickly in an effective and efficient manner to the opportunities and threats. Agility makes the organizational processes flexible and the response time of the organization to the critical issues reduces to a great extent. Agile organization is quickly able to take advantage of the opportunities and protect itself against the threat. It believes in putting in place systems to gather and share the information required to spot opportunities and by building processes to translate organizational priorities into focused action. Agile organization manage the challenge of change effectively and efficiently without falling prey to either chaos and inertia. Implementing organizational agility requires management to regard all areas of the organizational operations as potentially subject to change. It must recognise that changes come from the external world of customer demands, competitor influences, technological advances, regulatory changes, macro-economic shifts, change in political thinking and so on, and not simply as an internal activity. Management must also be able to use available resources in a timely, flexible, affordable and relevant manner,...

Building Organizational Capabilities for Excellence...

Building Organizational Capabilities for Excellence  Organizational capabilities are rapidly becoming recognized as important keys for the organizational success. Today developing new capabilities is a strategic necessity for an organization. The organization confronts many challenges while developing new capabilities for addressing the demands and opportunities of the present day ever-changing environment. Organizational capabilities entail extensive learning process dispersed across complex activity fields that even extend beyond the activities of the organization. Organizational capabilities are concerned with the ability of the organization to combine different types of resources, especially organization specific knowledge embodied in the employees, in order to create new resources that enable the organization to achieve and sustain its competitive advantage. Organizational capabilities are viewed as a type of strategic resource since it is rare, valuable, inimitable, non-tradable, and non-substitutable. Organizational capabilities focus on the ability of the organization to meet customer’s demand and the aspirations of the stake holders. In addition, organizational capabilities are unique to the organization so as to prevent replication by the competitors. These capabilities are anything that the organization does for improving its performance and differentiating it from other competing organizations. Developing and cultivating organizational capabilities can help the organization to gain an advantage in its operating environment by focusing on the areas where it excels. There are several definitions of organizational capabilities. Some of these definitions state that the organizational capabilities are ‘an all round quality …’ (Stephenson, 1999), ‘ability… to effectively meet… business objectives’ (ANAO, 2001), ‘a process of examining an organization to increase its capacity…’ (Haertsch, 2003), ‘capacity… to deploy existing resources to perform some task’ (Grant, 2004), ‘the embodied knowledge set that supports competitive advantage …’ (Gill & Delahaye, 2004), ‘often referred to as organizational competences, although strictly a capability refers to the potential and...

Innovation Management and Steel Industry...

Innovation Management and Steel Industry  In the current global economic conditions, effective management plays an increasingly important role in the steel industry. As changing environment stimulates evolution in the steel industry, professionally managed organizations turn to innovation management in search for vital components of effective strategies. With rising threats and uncertainties, an organization in the steel industry requires effective innovation management strategies to ensure that their position does not weaken in the industry. Definitions of innovation There is no standard definition of innovation. One can find several definitions in literature. Some examples are given below. Innovation means new, so far not known method for fulfilling new kind of needs. Each idea, proceeding matter which is new, is called innovative, because it is qualitatively different from hitherto ones. Innovation is the new competitive arena where present-day gladiators, equipped with similar information and access to similar resources, try to outsmart one another to victory. Components involved in the definition of innovation is given in Fig 1  Fig 1 Components of innovation  Defined simply, innovation is, of course, introduction of something new. It is understood that the purpose of introducing something new into a process is to bring about major, radical change. Process innovation combines a structure for doing work with an orientation to visible and substantial results. It involves stepping back from a process to inquire into its overall organizational objective, and then effecting creative and radical change to realize order-of-magnitude improvements in the way that objectives are accomplished. Innovation can also be explained by the following Innovation is finding a better way to carry out an activity It is the key to success Something novel is often described as an innovation Innovation is a process that brings together various novel ideas in a way that they have an...