One of the major factors that affect the success of a company in any field is the process of Innovation and creativity that has been followed by the organization for better business and profit. Due to innovation and the process related to the creative side of the company, the authorities of the business have the access to make the company ahead than the others in terms of the customer satisfaction. According to Afuah and Afuah (2013), the importance of creativity and innovation is of foremost value in a company especially working in a creative sector like construction as it makes sure that the company has an edge over the other companies in terms of the creative side and customer choice. The term innovation can be defined as the concept of innovating or producing any idea or product with a new genre of thought and process implemented to it (Afuah and Afuah 2013). The process of innovation therefore is way important in any creative industry especially in architecture industry which is mentioned in the report. The report here purposes to bring out the ethical and socially responsible innovation process that is being applied by The Matchbox Architects for the customer satisfaction and business growth. The aim of the report is to address the need of innovative process and creative insight for the development of The Matchbox Architects which is the company that is to be analysed. The purpose of the report is to analyse the importance of creativity and innovation in the firm with special emphasis to the models and theories of innovation related to innovation and creativity. The following paragraphs highlight the importance of innovation on lines of assessment of The Matchbox Architects.
The process of converting an idea or inventing an idea or a product for the customers to improve the value and the ideas of the service is termed as innovation. The process of innovation is generally applied to a number of organizations and services and the process involves the process of transformation and changing the model of business to suit the creative space of the business organization. According to Autio et al. (2014), Creativity is defined as the usage of imagination for the purpose of creating something new or innovative for the betterment of the process or service by the people. Both the concepts of innovation and creativity are necessary for the organization and business to sustain in a competitive market especially for a company like Matchbox Architects which is operating in an architecture sector. The company has to be innovative and creatively high in order to maintain the level of its customer satisfaction and conduct business in the modern market scenario.
Innovation is a process that should be ever implied by the people of an organization to make sure that the business process of the organization are effected in a positive way. Match Box Architects have also numerous reasons for the introduction of innovation which can be stated as follows –
The need to protect the environment is one of the prime reasons for the innovation in an architecture company (Autio et al. 2014). Generally the houses that are built by the company forces the trees to be cut which can affect the ecological balance of the world. Match Box architects should innovate a process that can maintain their designs along with the lines of ecological sustainability in the global sphere.
According to Burns and Paul (2013), Creation of brand value and worth is surely one of the major reasons as to why a brand would want to invest both their time and finance to innovate the process and products for the customers. In the world of steep competition, when every company is having their own ideas and custom thought process, the need to have a brand value is of prime importance. The creation of brand value can be effectively done by the organization through the process of innovation.
The increase in the ways and means of the company enables the company to have varied customers and the means to satisfy those varied customers by their products or services (Burns and Paul 2013). Stagnancy in the thought process will surely make one of the customers against the company which surely is not a favourable thing for any organization which gives rise to the importance of creative innovation.
Organizational change and innovation are important to maintain the internal working of the working process. According to the Burns (2014) without any traces of organizational change, all the systems and the process of the organization will remain stagnant which will make the organization against the expectations of the employees resulting in the need of change and innovation in the process. With the basis of creativity the organization can easily make the employees satisfied (Burns 2014).
There are a number of issues that are there in Matchbox Architect that needs to be addressed by the options of innovation and creativity. The company has faced problems related to the tremendous growth of the operations and management which needs to be solved by using the innovative and creative problem solving ways. According to the views stated by Dawson and Andriopoulous (2014) another problem that is being addressed by the company is the problem of creativity clash that needs to be addressed between the managers who are doing the business and the creative people. The leadership and business have to be addressed consequently to make sure that the problems can be solved by innovative thinking (Dawson and Andriopoulous 2014). The third problem that is faced by the Matchbox Architects is the financial problem with the constraints in budget that has led to the degradation of quality in the products and services of the company. The houses manufactured are not same in quality and have safety issues related to fire fighting to name some of the other needs for the innovation in the company (Drucker 2014).
Crowdsourcing is defined as the process in which the company can ask for suggestions and advice from employees both internal and external to the organization. According to Drucker (2014) the company can use the suggestions or the innovation process and can also implement the changes sometimes giving credit to the person. Matchbox Architect can implement the theory of innovation related to crowdsourcing to make sure that they have all the necessary processes that the customers of the companies want. Innovations can be also done by customer feedbacks and suggestions.
Lean Innovation Theory
According to the opinions of Goldberg (2013), Lean Innovation Theory is one of the theories of creative innovation that involves less risk in the process of innovation and is implemented mainly to the aspects of design thinking and agile development techniques. It can be very difficult for the organizations to fall for the risk if they make innovation on the whole lot and they surely want to make the innovation on few facts. Matchbox Architects can make changes according to the linear theory as that will enable the company to have better customer reviews along the lines of the change as well as have less risk associated with the company.
The Business Model Canvas is one of the most useful innovative models that can be used to make sure that the innovation process can be used to make sure that the company has addressed all the measures of the authority organization for the better management of the work (Goldberg 2013). The Business Model canvas is to make sure that each of the aspect of the innovative model is to be addressed to make sure that the innovations are addressed. According to the company given and opinions of Hong et al. (2018) in Matchbox Architects the business model canvas can be used to make sure that each of the aspect of the company is being addressed before their innovation methods.
Theory of Inventive Problem Solving
This is a kind of tool and strategy that is being applied to the difficult problems in regards to the solving of the same in the required source. According to the views of King and Lakhani (2013), the Theory of Inventive problem solving makes sure that the difficult problems are solved by the tools and strategies and they have to use the universal level literature patent for doing so. There are more than 40 inventive tools and principles that are being applied by the theory for the idea of inventive problem solving by the people of the organization. In the Matchbox Architect, the theory of the inventive problem solving can be used by the authorities and the people of the organization for the idea of solving the problem and also focusses on the various means of successful innovations (Loewenverger 2013).
Disruptive Innovation
Professor Clayton Christensen’s book The Innovator’s Dilemma states that disruptive innovation states that the smaller and uneventful companies take over the larger companies in the course of time by the theme of innovation (King and Lakhani 2013). This theory is stated as the Disruptive Innovation theory where the smaller companies by their way of innovation have an edge on the larger companies who are not doing the required amount of innovation in the course of time. Matchbox Architects is one of the premium companies in the architect industries which needs to be active in the innovation process to reduce the chances of replacement by the smaller firms.
One of the most effective factor models that is being addressed for the financial analysis part of the performance and the financial conditions of the company is to make sure that the performance of the company is at the heights of level. According to Laciana, Rovere and Podestá (2013), the three measures that are being used by the model for the assessment of the quantitative model are the Value, Growth and momentum and Risk. The model is uses the factor data or the market data of the company to innovate and make sure that all the data are being taken from the original source (Laciana, Rovere and Podestá 2013). The Matchbox Architect can use the model of innovation to make sure that their financial conditions are being stable and they can innovate ways and measures to implement drastic changes to the financial conditions to the company.
Linear Model of Innovation
According to VanGundy (1988), one of the most traditional models that is being implied by the global organizations for the management of innovation and resources is the Linear model of innovation in which the process of innovation is described to be starting from Invention process and goes through the process of Innovation to finally the process of diffusion. The linear model of innovation is one of the scientific methods of innovation in which the role of innovation is one of the main and major in the course. According to Loewenverger (2013), this model of innovation is also known as the Traditional Phase Gate Model which has in its course the two course of models like Technology-push model and the Market pull model of the course. This model of innovation is one of the major models that took place in the mid-1950s and 1960s and one of the principle models involving the innovative measures (VanGundy 1988). Matchbox Architects can use this model for measuring the innovation process right from the invention process through innovation and finally to the process of diffusion.
Open Innovation Model
Open Innovation Model is one of the basic and most effective innovation models that is being implied to make sure that the innovation process is not limited to the areas of the organization. According to Tidd and Bessand (2013) the open innovation model is to make sure that the ideas and models of innovation can be sourced from outside to make it one of the best models for the innovation process. The inbound and closed innovation model can be used by the authorities of the organization to make sure that the innovation is there in the Matchbox Architects (Runco, 2007). The company can source ideas from outside for measuring the innovative model.
The theories and the models of innovation can help the organization The Matchbox Architects to make sure that their financial and other innovative problems faced by the organization is to be reduced by the use of the models and theories implied in the course (Matchboxacrhitects.co.uk 2018). Both the theory and the models of innovation helps to make sure that each of the innovative measures are being addressed in a proper manner with the required level of measures in each case.
Conclusion
In conclusion, it can be stated that innovation is surely one of the basic factors that affects the company in the short and long run. For the process of innovative measures, a number of theories and models can be applied which makes the process of innovation more scientific and measuring to all the factors needed for the process of innovative measures. The Matchbox Architect is one of the premium architect companies in Australia that employs a number of innovative ways and means for the affecting of the innovative measures in the manufacturing and the innovation of the projects done by the organization. The employees of the organization have to be in alliance with the theories and models to make sure that each of the innovative measures which are being applied in the organization for the better amendments for the innovative measures. The report focusses on a number of needs and measures for the process of innovation in the course of time. The models and theories of innovation are being addressed which is again focussed on the various innovative measures that is being done by the authorities of the organization. The models like the Goldman Sachs Asset Management Model is being assessed with the Open and the linear model of innovative models of innovative measures. The theories of innovation like Disruptive Innovative models and crowdsourcing is to be used with the innovative models of linear innovative models and also the Theory of Innovative thinking to solve a number of problems. The results and the needs for the innovative process are also mentioned in the report to have a detailed assessment of the Matchbox Architect in terms of the innovation process required in the conduction of business measures.
There are a number of recommendation process that can be applied to the process of innovation in the process of innovation and other means. The theories and models are to be assessed both in the theoretical and the practical form of the knowledge so that each of the process of innovation which is being applied in the organization is on scientific base and also measures to the ways and means of the company. The company can introduce seminars and development classes for the measurement of the innovation that is being involved. Financial advisors and experts can also be applied for the betterment of the financial situation of the organization. Introduction of creative leadership can also be introduced to make sure that the employees of the organization are being motivated for their working and betterment of the organization. The designs and the safety measures should be the priority of the organization which is to made sure that the innovative measures are there in the process of the organizational change. The financial and the business issues of the company can be helped by the effective pricing strategy and the price management of the same genre. The motivation of the employees is also given to make sure that they are employed towards a greater change. If all these recommendations are being addressed, then the company will surely attain heights of innovative process.
Reference
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