Monday, May 18, 2020
The Establishment Of Goldenstate Manufactures Business Essay - Free Essay Example
Sample details Pages: 9 Words: 2840 Downloads: 2 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Purpose: the purpose of establishing Goldenstate Manufactures is to produce textile fabrics which can be consumed by the society and therefore generates the profit for the shareholders. Reason: the reason to establishing Goldenstate Manufactures is that this establishment is the direct way and tool to fulfill the purpose of making profits. B) Identify three other types of organizations and explain how their purposes ad reasons for establishment might differ from Goldenstate Manufactures Goldenstate Manufacturers is of the type called Functional Organization. There is always a top manager or director in grouping and managing all the work in the organization. Donââ¬â¢t waste time! Our writers will create an original "The Establishment Of Goldenstate Manufactures Business Essay" essay for you Create order Line and Staff Organization In this type, the organisation is based on the line organization and the functional experts advice the line officers as to the functions of the enterprise. The line officers are the executives and the staff officers are their advisors..(Henry P. Knowles; Borje O. Saxberg 2008)) Committee Organization Committee organization is widely used for the purpose of discharging advisory functions of the management. Committees are found in different levels of organization. A committee is a group of people who meet by plan to discuss or make a decision on a particular subject.(Laurence J. Peter and Raymond Hull 2001) Divisional design structure organization This structure is based on the product departmentalization approach, the organization is divided into separate divisions often based around a product or type of service. Process departmentalization, jobs are grouped together on the basis of workflow, allows for efficient flow of process activities.(Julie Morgenstern2004 ) From the comparison we can see that there are many different types of organization that suits different groups. 1.2 Identify at least two of the main roles/functions that need to be carried out by the following: Mark(CEO): Advocates / promotes organization and stakeholder change related to organization mission Final decision-making, all of the companys major operations of matters, including financial, operational direction, increase or decrease of business Carl(Operational Manager ) Human resource management the people employed by an organization either work directly to create a good or service or provide support to those who do. People and the way they are managed are a key resource of all organizations. Asset management an organizations buildings, facilities, equipment and stock are directly involved in or support the operations function. Quality Control Manager Describe the wants and needs of the clients to the sales and marketing department and identify ways that company can satisfy them. Record and filter the errors in products and document the areas of improvements and the results of quality control Research and development Manager Identify the ways of developing new products and describe the possibilities of certain project. Study of new product development, according to the requirements of customers in different areas, to come up with effective solutions. (source: https://en.wikipedia.org/wiki/CEO/OM/QCM/RDM ) 1.3 Explain how effective you feel Goldenstate Manufacturers is in meeting its purpose. Not very effective. First of all, it is a very significant fact that Goldenstate Manufacturers is one of the top five manufacturing organization in Australia in 30 years, which laid a firm and strong fundament for its development. However, its production has dropped by 20% recently and there have been some problems within the management. What is worse, customer complaints have increased because of a delayed supply and poor quality of products. All of the above situation are negative to the development of Goldenstate Manufacturers profit earning purposes. Therefore, A new CEO, Mark, has been assigned a goal of optimizing the production and improve the quality of the finished garments to the required level within six months. Has identified that the QC department is performing an excellent job with regards to identifying the quality issues during the production process. B) List 4 main management skills or competencies needed for it to be competitive. 1. Human skills: Human skills: it is ability to work with people with cooperative effort it is the creation of an environment in which people feel secure and free to express their opinions 2. Technical skills: technical skills : this refers to acquisition of knowledge and proficiencyin a certain specialized field how can we work with tools were I have to learn the superior and implement its usage (Gill,L Poi, E 2007) 3. Management skill: it refers to the skills or experience that facilitate the management process such coordinating the resource, delegating the right power and maintaining good relationship between suppliers and clients 4. Conceptual and leadership skills: conceptual skill: it is the ability to see the big picture to recognize significant element in a situation to understand the relationships C).Explain why you feel each of the skills or competencies listed in 1.3(b) are important Human skills: employees and other human resources are the main tool for a manager to get works done. And if he is good at managing people with his interpersonal skills, hell get a competitive characteristic in doing a better management job. These skills will help managers in interacting and communicating with employees; thus motivating them to achieve the goal of the organization. In addition, the skills are vital in delegating the the tasks and power in a right track. (Morgen Witzel 2003) 2. Technical skills: as a manager in the department, he is the first one who knows the techniques in the field and be able to instruct the staff at the right time. Moreover, knowing the technical skills can facilitate the manager to supervise the performance. For instance, in Gold Manufacturers, the manager of production department should be familiar with the producing process of the textile products.(Lewis R. Ireland 2006) 3. Management skill:In a business, successful and effective managem ent skills by managers help in solving the problems. Therefore, a manager should be a quick thinker with logical mind so that he can take the appropriate decision which is beneficial for whole organization. Such decisions made out of calm mind and based on fairness would be competitive for an organization.(Martin Stevens 2002 ) 4. Conceptual and leadership skills: Manager is a leader in a group of people, therefore, leadership skills are important. It includes: co-operation skills, self-confident and motivation skills etc.manager can use these skills to effectively lead his team. Question 2 2.1 A). Identify and briefly explain which theory Ron, the Finishing Manager most closely aligns with, giving evidence from the case study to support your comments. Ron, the Finishing Manager aligns with one of the leadership theoriesBehavioral theories which examines the behavior of the leaders at work- how they behave with employees and what perspective they have towards work assigned to them. This theory assumes that leaders can be made through teaching, learning and experience(in the case Ron follows the same approach of Adam, my way or no way and believes in not allowing his staff to take the liberty of doing things without his knowledge.) B). Identify and explain the leadership styles of Adam, the knitting Manager, and James, the Dyeing Manager giving evidence from the case study to support your comments. Adam: his leadership style is Autocratic leadership style which means that manager gives orders to his subordinates and expects them to follow those orders without any questions and ideas.((Chemers M. 2009) This shows in the way he manages his staff. He put complete control over his employees. His approach of My way or no way indicates that he has centralized all the power in his hands and does not like to delegate the authority to other teammates. James:the Dyeing Manager used Laissez- Faire leadership style which refers to a leadership style that Manager leaves his total work on his subordinates and does not exert sufficient control. (Smith, J.A., Foti, R.J. 2012) In the case, James acts as a passive leader, believing that his employees are working in their best shot. He does not take much attention in how the staff performs. He is afraid of making the team angry and turn against him. He neither supervise his team nor solves their problem when there is a problem. C). Comment on how appropriate you feel each of these leadership styles are in the current situation-give two two reasons for your answer to each style. The Autocratic leadership style by Adam in his team is not appropriate. And this can be cause of the current failure in the company Reason1:It might lead to quick decision making but such strong attitude from Adam had led to frustration among the employees as the production pressure has been over them for long. Reason 2: The staffs know creative ideas would not get acceptance from manager at any point. And their confidence level falls down and they may leave the organization. Lazzir Fair leadership style of James is also not appropriate. Reason1: He put all the work on staff and gives no guidance and supervision to them which may lead to uncontrolled situation and the production goals may not be achieved.so that the department is overstaffed and human power is working without any proper directions. Reason 2 : the Self- direction and self- control which are resulted from James Lazzir Fair may not produce the right dying of the cloth which finally have great impacts th e overall production in the organization. 2.2 Select one motivation theory: Briefly describe the theory The theory selected is Goal setting theory. This theory refers to an effective tool for making progress by ensuring that participants in a group with a common goal are clearly aware of what is expected from them. On a personal level, setting goals helps people work towards their own objectives-most commonly with financial or career-based goals. (Swezey, Robert W.; Meltzer, Zach L.; Salas, Jimmy M. 2010) The theory basically describe a process which can motivate the person by having a SMART way of achieving their goal, and the results will be the motivation for them. In the first step of this process, the Goals which are specific and difficult are accepted and set; in the next step, the person who has the goals will have direct attention and is encouraged to be persistent in fulfilling the goal; then, the performance is there to be accessed which can determine whether the goals are achieved. The feedback is therefore accessed and if the goals are not achieved, the new direction a nd new strategies can be planed in the second stage and the process will go through again. Using information from the case study explain to Mark how he might use the theory to motivate Carl the General Manager Operations In the case study, there are several problems that affects the operation of the company. Mark the CEO can use this theory to motivate Carl by doing the following factors: Setting a clear aim of the organization from last 3 months. The clear goal brings up the strategy to handle the operation.Specific goals can be made for Carl so that he is aware about what he has to reach and where. This would be helpful for him to remain focused on his targets. Giving the right direction to Carl in solving the current problems such as production has not increased as expectations and customer complaints have increased. This can be the first steps to develop the company and can gain effects in a short term. CEO should give higher reward and reorganization to carl if he has done a good job in fixing the company problems which will push Carl to become more motivated. Review reports must be done and submitted by Carl as the feedback to Mark which will help Mark to evaluate Carls performanc e and provide changes as needed. B) Advise Adam, the Knitting Manager, of four ways he might motivate his staff so they will remain with the company, Make sure you explain: What he must do How he must do it Recognition and Attention. When the employees accomplish something and they have achieved something. The bosss recognition is appreciation for that achievement. If Adam can give more recognition and compliment to his staff, their staff will be feeling better. And this also means a acceptance of a free environment for staff to show their abilities. Promotion both in career and financial reward. This is the most common way of retain employees. Promotion in the position of an employee and his payment would act as a stimulator in their productivity. Promotional opportunities may be offered by Adam to good employees so that they feel satisfied and a sense of self-actualization and esteem can be raised and they dont make any decision to leave the organization. Offer a nice clean working environment. Make sure that the environment they are working in is conducive to good performance. Everyone likes to work somewhere nice and clean. Therefore, if Adam can change the work environment for the worker, it can be another factor that retain the staff. Better communication. Managers must always sincerely communicate with their employees as it provide a trust factor between them. While communicating with them, manager can remind them about organization goals, present and future vision of the organization. As the manager communicate with the staff, many barriers can be overcome and a better relationship will be developed. 2.3 Mark the CEO has told Ron, the Finishing Manager that he should delegate more. You are assigned to coash Ron through the steps he must take to delegate effectively. . Explain to Ron three benefits of delegation, using information from the case study to illustrate your comments. There are 3 benefits from a effective delegation First, delegation focuses attention and increases productivity. By assigning lower priority tasks that are typically easier to do than higher priority tasks, allows delegators to better focus on more important and more difficult assignments. It must be recognized that training and monitoring is very important when delegating authorities for new missions, because this leads to second benefit. In the case, if Adam and Ron could delegate more power to the staff, then the decision making process can be more effective and the management of the certain department can be easier. Second, Eventually, before these newly delegated tasks will not require any training or supervision, thus increasing the productivity of the delegator and the entire team, people with assigned tasks will learn new and valuable skills when working on delegated tasks. In the case, the staff in each department are delegated with insufficient tasks, and ther efore, some department are over-loaded and not well-organized. It can partially because of the unfamiliarness from the staff. Third, delegation helps manage time effectively. For instance, when less skilled employees work on less skilled tasks, this allows skilled people to concentrate working on more skilled tasks. As a result, delegation helps manage the limited time of more skilled employees. In the case study, if the top management can delegate their power well, the conflicts and negative coordination in each department can be solved which enables the top management to deal with more important issues rather than this. B) explain to Ron the five steps needed to be taken for effective delegation. Make it clear what he should do at each step Give practical examples of each step relating to Rons Job and the case study. There are 5 steps in effective delegation: Task Selection: the manager should decide first what are the tasks he wants to delegate He can delegate the authority to his subordinates relating to supply gaining , stock checking with dyeing department etc. Ron can see how much of delegation is to be passed upon to Deputy General Manager so that the work does not get hindered in any case. Make sure accountability part is also mentioned to the person. Assigning and explaining Task to right people: this step is deciding who should be given the responsibility? Ron can decide about the person on various parameters such as trust, loyalty, ability and performance. He can choose deputy general manager or some other supervisor within team who would take care of all the aspects concerned with employees. Evaluate the performance:it is important to evaluate the task process. It can help to make sure the task is under right action and can be fix at a early stage if anything go wrong. Ron c an ask the staff to write and report in a certain period of time for evaluation. review feedback: Once the work has been assigned and the responsibility is also attached; ensure whether the work is being done correctly or not through regular reporting and inspection. Ron can ask for weekly reports from the person authorized and seek for suggestions as well. Also, Ron should provide feedback for further improvements. Task complete or restart: Once all above steps are done, Ron can further look into if some more changes or improvements can be done in the delegation process. He can perform this function by having short discussions with the subordinate heads, welcoming their ideas as well. At last, if it seems to him that everything is going in smooth order and deriving out positive results then he can opt for Manage by exception wherein he needs to intervene only when an exception occurs, otherwise he can assume job is on track.(Giandomenico Majone 2008)
Wednesday, May 6, 2020
The Role Of Gender And Gender Roles Essay - 2120 Words
PROBLEM IDENTIFICATION Gender continues to play an important role in education.The education of women was discouraged for a long time throughout the world.They are subject to severe forms of discrimination in the provision of educational facilities.Similarly being a female in India and the gender roles associated with it can act as a hindrance to her education.(Kaur,2013). Nationally, about three out of four children aged 6ââ¬â17 years attend school. But school attendance is significantly higher for boys than girls, particularly in rural areas where attendance rates for girls is about 12 percentage points lower than that for boys (NFHS-3 2007). Data on school attendance also show that the proportion of girls attending school decreases with age, while for boys it remains stable (Ghosh 1995; NFHS-3 2007; Velkoff 1998). By ages 15ââ¬â17 years, about half the boys are in school compared to only about a third of the girls in that age group (NFHS-3 2007). Girls are most often taken out of school to help with family responsibilities, or after they reach puberty as a way of protecting their honor.As cited by,(Bose,2012). The drop out rates among the girls in Lallubhai Compound,Mumbai is also quite high.Many girl child who enroll in primary education are unable to complete their secondary education.There are multiple reasons for the dropping out of these girls.The low income of the family,the environment at home,the gender distribution of roles in the family,poverty,low educationalShow MoreRelatedGender Roles And Gender Role844 Words à |à 4 PagesGender Roles can be defined as roles society expects people to play on account of their sex life. Like all roles, gender roles are made up of sets of expectations, so they can be thought of as sets of expirations, so they can be thought of as sets of expectation that are attached to sex.(pp: 220 John E. Farley Michael W. Flota). The key word gender role affects me personally because as recent graduate of high school itââ¬â¢s time for me to go into the real world, of working class gender role of theRead MoreGender Roles And Gender Role Essay784 Words à |à 4 Pagessession, I will discuss the gender roles in my family. The definition of gender role is the degree to which a person adopts the gender-specific behaviors ascribed by his or her culture (Matsumoto, D. R., Juang 2013, 156). For example, traditional gender roles recommend that males are aggressive, angry, and unemotional. It goes further and explains that the male should leave the home every day to make a living and be the main wage earner. The traditional gender role for the female purpose is toRead MoreGender Roles And Gender Role1370 Words à |à 6 PagesEach gender will have different ways they should live their life in order to stay within their gender role. Some will meet the expectations and other will not. That does not make them look le ss of their gender, they will just be expected to meet them. Over the years, some gender roles have submerged and others have risen above. They will be able to show how the gender roles are supposed to be in jobs, education, and marriage and also how they can benefit from stepping out of the gender roles. GrowingRead MoreGender Roles And Gender Role Essay1385 Words à |à 6 PagesOF SUBMISSION Gender roles Introduction Gender is set of characteristics that may be used to differentiate between female and male through the use of oneââ¬â¢s gender or through gender identity therefore. Gender role can be considered as the hypothetical construct in humanities and in many social sciences referring to a set of behavioral and social norms which in a particular culture may be largely regarded to be socially appropriate for individuals of a particular sex, gender roles vary from variousRead MoreGender Roles : Gender And Gender1587 Words à |à 7 Pagesbetween gender and sex. Sex is anatomical and biological. Gender role can be defined as a personââ¬â¢s inner sense of how a male or female should feel and behave. Culture and society are two important factors in relation to this particular topic. This implies that various societies and cultures may produce children and later fully grown men and women who may have diverse perspectives of a man or a womanââ¬â¢s place or role in the world around them; this is often determined by their cultureââ¬â¢s gender stereotypesRead MoreGender, Gender And Gender Roles1437 Words à |à 6 Pages Gender roles play an important rol e in society whether it is for good or for bad. These roles have been placed in society since the beginning of time. The term gender is socially created and it therefore categorizes men from women. How is gender defined, and what makes it different from the term sex? ââ¬Å"â⬠¦sex refers to the biological characteristics that distinguish women and men: sex chromosomes, reproductive organs, sex-specific hormones, and physical characteristicsâ⬠¦Genderâ⬠¦ refers to the socialRead MoreGender, Gender And Gender Roles1110 Words à |à 5 Pagesbelieve gender is only based on being male or female. People believe gender is based on the physical and biological differences between women and men. Over the last few years, the term gender has changed. When some people believe gender is being male or female. Most people associate gender with gender roles and how people are supposed to function or perform based on societyââ¬â¢s expectations. In other words, people believe males and females have to behave according to their gender or gender roles to beRead MoreGender And Gender Roles876 Words à |à 4 PagesAs a child I never really knew much about gender roles and stereotypes, I just went with it. As I grew older I was forced to face reality and deal with the gender roles and stereotypes. I wasnââ¬â¢t a masculine kid and always had feminine features and attributes. I never liked playing rough, I didnââ¬â¢t like to get in trouble or cuss. This resulted in me being teased and called gay in elementary school. I had to fake a persona in order to not be bullied and teased everyday. The bullying and teasing cameRead MoreGender, Gender And Gender Roles844 Words à |à 4 PagesSociety has institutionalized gender roles since the beginning of time, a common one is that women are the nurturers and housekeepers, while men are the breadwinners of household. In spite of centuries, and fighting for women s rights, such as the right to vote in the late 1920s. Women s till have roles to fulfill, even in a modern society that is dominated by a virtual world. Gender identification has multiplied from that of men and women, to Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ)Read MoreGender, Gender And Gender Roles1476 Words à |à 6 Pagesmen were the predominant head of the household and women were expected to cook, watch their kids, and clean? This is an excellent example of gender roles, and how they control some aspects of life. Gender roles according to multiple sources are, the way people behave, what they do and say, to express being a female or male. (ââ¬Å"Gender Identityâ⬠, Blackstone, Gender Spectrum). They are forced upon an individual from the day that person is born even in the most trivial of terms of putting boys in blue
4P Framework for Planet Innovation Pty Ltd-Samples for Students
Question: You have to select a Company and apply 4ps of Innovation on that Company. Answer: Company Overview This report basically describes about the creation and innovation done by an organization in Australian market. For the discussion, company Planet Innovation Pty Ltd. has taken in this report. Creative designing techniques are helpful for the company to develop highly innovative solution for the complex situation. This report provides the critical analysis and examination of the innovation done by the company to meet the customers expectations by the continuous innovations (Brenner Uebernickel, 2016). The report explores 4P framework of innovation which are used by the company in the innovation process. The report also describes the innovation portfolio used by the company while doing innovation in the business. At last report provides the information of targets for the strategic innovation of the company. 4P framework The framework includes four factors of innovation i.e. product, process, position and paradigm. 4P framework for the company Planet Innovation Pty Ltd is given below. Product This is the most common form of the innovation. The product innovation include the improving the current product which is already offered to the customers. The company is focusing on the most innovative solutions to expand the market share. The main innovation done by the company is the new hearing solution app. The company has developed a hearing aid system as the smart phone app. This is a Bluetooth programmer named Incus. This app is for those people who are unable to hear properly. By the help of this app, patients get rid their hearing problem. The company is continuously focusing on the innovations so that it can provide new technologies of such useful products for patients. Plant Innovation has to innovate continuously to identify the future needs and requirements of the customers. Process This form of innovation includes the way by which the product is created or delivered to the customers. Planet Innovation develops many useful products and apps for the customers. The company has proper framework for the production so that company can identify the requirements of the customers in the operating market. By the framework, company is able to develop the products according to the customers requirements. The company uses the framework of idea generation, the company is able to know that what type of product should be generated and what are the requirements of the customers in the market. The development of new product includes the process of design, building up ideas, drawing logic, imagination and identifying the possibilities of success (Herring, Jones Bailey, 2009). Position Planet Innovation is famous for designing of the products of clean-technology, biomedical, industrial and commercial market. The company is very famous for its innovated products among the customers as it is focusing to be more customers focused by designing more innovative solutions. Customers perceive the hearing app very useful for those who have hearing loss. Among the customers, the products innovated by the company are very beneficial as the innovation of the company includes new ideas to meet untapped customer needs. This new hearing app can be the most important and integral part of the Australias innovation system. For the patients, this is the consecutive action taken by the company to develop innovative solution (Financial review, 2016). Paradigm This type of innovation is related to the mental models, which defines about the business activities of the company. In case of Planet innovation, the innovations are done in various different areas i.e. biomedical and the medical process. There are the people who are specialists in these areas. The company is using wireless technology in medical instruments. There are four ingredients used by the company in the innovation process i.e. flexibility, learning, reframing the problems and co-developing with the market place (Keeton et al, 2014). Figure 1: 4P Framework Present portfolio of innovative activity Planet innovation is develops and manufactures the commercialize products. The company has own portfolio of the products including research, design, manufacture, engineer and market new products at the global level. The company has simple philosophy i.e. product should be commercially successful then the product will be considered as successful in the market. In the product development, the company has the staff with depth if expertise, high level of experience and facilities required. Planet innovation has established the medical device manufacturing facility to manage the manufacture and regulatory compliance of the products offered by the company (Cavagnoli, 2011). The company has commercial partnership with the Genea to manufacture and develop a suite of innovative products. Company has design and manufacture business model to offer lower risks terms in the business. Further, Planet innovation has the partnership with the medical diagnostic company to develop a diagnostic device. The company is investing in the development of diagnostic device for the co-ownership of the intellectual property. Further, Planet innovation has long term partnership with the Ventis to manufacture and supply of innovative products to the customers. Along with this, the company is funding the product development and generation of IP for the exclusive supply agreements. The company has also licensed in some IP in the new business to minimize the costs and risks (Nagji Tuff, 2012). Planet innovation is basically operating to develop the innovative products which have positive impact on whole world. The company is providing technology innovation, product development and expertise companies in all over the world. There are some portfolios for the innovative activity and those are as follows: The company has around 160 passionate and commercially focused product developers i.e. engineers, scientists, technicians, industrial designers, project managers and QA managers. The company is specialist in Hi-Tech connected and biomedical devices (Zhou Li, 2012). The company is currently focusing on the biomedical and Hi-Tech devices innovations. Biomedical includes diagnostics, instrumentation, life science, medical devices, mHEALTH, Point-of-care. Along with this, Hi-Tech includes smart phone integration, wireless solutions, custom automation, smart energy solutions and software and electronics. For developing the products for the customers, the company also develops and launches its own products and platforms. The products vary from re-usable software and hardware modules to the technology platforms by the commercially available products. Based in the Australia, the company is also operating out of Chicago and the customers of the company are located in all around the world. The customers of the company include worlds top 10 biotech companies. The company believes in the quality to strengthen the relationship with the customers. Strength and weakness Based on the above discussion, there are some strengths and weaknesses in the innovation practices of the Planet innovation. Strengths The strengths of the innovation activities of the company are as follows: The innovated products of the Planet Innovation has positive impact on the world, Around 160 brilliant and passionate product developers for the strategic innovation, The company has quality system for the medical device development, and The company is focused on the innovation of biomedical and hi-tech solutions for the clients. Weaknesses Although the company is operating well in the operating market, but there are some weak points which must be considered by the company for the future innovations. Those weaknesses are as follows: One of the weaknesses is that due to innovation, the old technology and techniques are left behind and it is becoming challenging to protect them, The huge infrastructure costs are incurred in the company due to the continuous innovation, and Innovation leads economies of scale, which can drive out competitors and can also be the cause of market failure. Targets for strategic innovation The strategic innovation done by the company to prove the core technology, identify the needs of market and establishing the product concept. According to the Planet Innovation, the big opportunity for the innovation exists before the development process of product begins. The phase of the strategic innovation has the important role in minimizing the risk and dealing with the technical and market challenge (Schroeder, 2013). The targets for the strategic innovation in the Planet Innovation are as follows: By the strategic innovation, the aim is to identify existing technologies to cut development effort, minimize the risk, avoid reinventing the wheel, and accelerate time-to-market. The aim is to apply the emerging technologies in new ways to deal with the competitors. The target of the company by the strategic innovation is to identify the business opportunities and understand end customers need. Further, strategic innovation is focused in clarifying the concept, assessing the feasibility and defining the product or process. Along with this, the target is to provide some deliverables i.e. business proposals, customers needs, project schedule and milestone, design goals and design concepts. The aim of the strategic innovation is to generating ideas, identifying the strong concepts based on the key factors and developing the preferred product or service concept (Insead, 2008). The mentioned strategy will be beneficial for the company to attract more people who are in need. By the innovative strategies, company will be able to deal with the competitors and the strategy would be helpful in indentifying the expectations of the customers to manufacture new technologies. Further, company Planet Innovation is the most innovative company of Australia. The company should conduct various researches and events to identify the requirements of the potential customers. References Agbor, E., (2008), Creativity and Innovation: The Leadership Dynamics: Journal of Strategic Leadership, 1(1) 2008, pp. 39-45 Brenner, W., Uebernickel, F., (2016), Design Thinking for Innovation: Research and Practice, Germany: Springer Cavagnoli, D., (2011), A conceptual framework for innovation: An application to human resource management policies in Australia: Innovation: Management, Policy Practice, 13(1),111-125 Financial review, (2016), 50 Most Innovative Companies 2015, accessed on 28th July 2017 from https://www.afr.com/leadership/brw-lists/most-innovative-companies/50-most-innovative-companies-2015-20160303-gn9ea7 Herring, S.R., Jones, B. R., Bailey, B.P., (2009), Idea Generation Techniques among Creative Professionals, accessed on 28th July 2017 from https://orchid.cs.illinois.edu/publications/HICSS-idea-generation-2009.pdf Insead, (2008), Idea generation and the quality of the best idea, accessed on 28th July 2017 from https://sites.insead.edu/facultyresearch/research/doc.cfm?did=42236 Keeton, Kathryn E., Elizabeth E. R., Jeffrey R. D., (2014), Solution Mechanism Guide: Implementing Innovation within a Research Development Organization: Aviation, Space, and Environmental Medicine, 85(10), 1061-62 Nagji, B., Tuff, G., (2012), Managing Your Innovation Portfolio: Harvard Business Review, 90(5), 66-74 Schroeder, H., (2013), Strategic Innovation for Business Performance: The Art and Science of Transformation: Technology Innovation Management Review Zhou, K. Z., Li, C. B., (2012), How knowledge affects radical innovation: Knowledge base, market knowledge acquisition, and internal knowledge sharing: Strategic Management Journal, 33(9), 1090-1102
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