Introduction
Johnson (as cited in Härtel& Fujimoto, 2014, p. 127) believes that “if Australia is to truly become the ‘clever country’, then many more organisations need to treat innovation as a core business.”
Discussions with Dr Johnson have indicated that innovation is a hot button issue for Fortune 500 CEOs with CEOs globally listing innovation as a significant challenge and second order priority after the number one priority of Human Capital. Australian CEO’s rank innovation as a fourth order priority.
Building capability in innovation is an organisation-wide responsibility. Strong commitment will be required in a number of areas, including strategic leadership. Innovation capability will not develop on its own. It needs to be consciously formulated, controlled and planned, organised and “driven into place” (Johnson as cited in Härtel& Fujimoto, 2014, p. 128). Therefore, innovation is a key contemporary management challenge.
Critically discuss the management challenges that future Australian managers face in regards to innovation capability. Also discuss the external environmental factors that will impact on future managerial decisions, organisational processes and priorities in the coming five years.
Reference for this task description
Härtel, C., & Fujimoto, Y. (2015). Human resource management (3rd ed.). Frenchs Forest, NSW: Pearson Advice.
Assessment Criteria –
The Practical Management Report will be marked as a whole with reference to the following criteria and weightings in brackets:
-Critical analysis and application of management functions, concepts, principles and demonstrated theories
-Depth of knowledge of external environmental factors
-Demonstrated understanding of innovation as a contemporary management challenge
-Reference list where the student is to provide AT LEAST 5 relevant academic sources for the reference list such as textbooks and peer reviewed journal articles to pass this criteria. Please note general websites will NOT be considered to meet this criteria
-Practical Business Report format followed
-Referencing conforms to APA style
-Spelling, grammar and expression.
