STRATEGIC THINKING AND LEADERSHIP

Strategic Thinking And Leadership

Strategic Thinking And Leadership

Abstract

Purpose - The objective of this paper is to present a broad-based tool primarily for the use of practitioners at the senior and middle management levels, to analyze the innovation management processes within their organizations and assess their impact on innovation and firm performance. It is contended that these processes are dichotomous because of the invariable tension between continuity and change-related aspects to be coped with.

Design/methodology/approach - A single case (Moser Baer India Limited, an Indian firm and one of the world's large manufacturers of optical storage media) illustrating the use of a flowing stream strategy framework is presented. The theory that is the basis of the approach is not expounded at length in the interests of the basic target audience.

Findings - The paper is an attempt to present a structured approach to strategy making. Realizing the hazards of organizational impediments in the implementation of strategy, only an illustrative approach is been indicated, paving the way for further investigation.

Research limitations/implications - The limitations associated with a single case methodology may prevail to some extent. The data are context-bound; however, no attempt to draw general implications has been made. The purpose is more to present the use of a practical tool rather than to advance theoretical knowledge.

Practical implications - The tool presented may be useful across a range of organizations, with minor adaptations.

Innovation

Innovation is the successful application of new ideas, techniques, methods and technologies in order to produce some measure of positive benefit over incumbent concepts. Innovation involves using creativity to produce solutions that differ from the status quo; however, innovation is greater than the act of simply developing new ideas—it is the successful application and the diffusion of these ideas throughout society. Innovation will be key in sustainable energy systems if we are to move into a more sustainable mode of energy production and use.

The Concept of Innovation

An inventor is someone who develops a new technology or idea; whereas an innovator is a person who manages to make the technology or idea work in practice; this is explained well by Jan Fagerman, who states that “an important distinction is normally made between invention and innovation. Invention is the first occurrence of an idea for a new product or process, while innovation is the first attempt to carry it out into practice.” (Gerry et.el, 2008)

While innovation can broadly be described as the successful introduction of something new, Joseph Schumpeter defined innovation as being in one of five classes:

New goods; introducing new products and services to the market.

New methods; developing a new way of doing something.

New markets; the development of a new marketplace for products or services.

New sources; exploiting new resources of raw materials or components—whether that resource is one that exists and hasn't previously been utilized, or whether it has to be created.

New organization; reorganizing or configuring a market, industry or organization to work in a different way.

Introduction

Managing innovation in a competitive environment requires honing existing capabilities for retention of stability and ...