Managing Change In Operations Essay -- essays research papers

Behavior Traits of Successful Businesses Business Innovation Opportunities Businesses are resource limited and must determine where and in what way to allocate resources to achieve business mission objectives. This translates to why it is so important for business to be creative and actively plan for innovation correctly. Innovation is a change of direction and it alters investment policy so it is essential from the onset for the business planner to be clear about the current state of product â€Å"portfolio†. The planner must recognize how to balance the current products against possible policies for future development and their likely implications in terms of cash flow, market share, return on capital employed and other key components of company objectives. A successful behavior trait taking hold for successful companies is to develop business models to assess a strategy. These models provide change models expanding on issues such as â€Å"what†, that provide a picture of the company now of analysis; and â€Å"which†, that suggest alternative action paths for the company to take. Both of these models provide information to build a more complete picture of events within the business and options for future development. Managers should make use of these models and many don’t. Those that do are more likely to be successful and have the ability to minimize risk of failure. Business managers who do are far more likely to survive. For planners and non-planners there is not a single universal technique that can be applied in all situations. Use of strategic planning models can be a very important behavior trait for successful companies. Companies that do not use strategic planning models usually don’t because the model does not offer what the customer wants. It may be inadequate because of its analysis of the relationship between company resources and markets. These result in advice about overall investment decisions rather than about the specifics of how to manage the alternatives in the market/business relationship can be shortsighted, since there are always alternatives in order to gain the maximum competitive advantage. Since change is so an important aspect of business continuity, many models don’t necessarily provide assiduous suggestions for what type of change should be considered. An example of modeling one such model in use by Boston Consulting Gr... ...he market required by other types of innovation. Therefore, three broad types of organizational patterns can be described as appropriate for components of the innovation matrix and it can be described as follows: 1. Common room – appropriate for the development of sector creating innovations 2. Rugby scrum – approaches are best for the management of performance extension, technological reorganization and process innovations and those innovations that require a close and continuing contact with the marketplace for effective control 3. Coffee shop – reformation, service, branding, design and packaging are most suited in this sector Once a company has formulated an innovation policy it must evaluate whether to acquire the expertise from outside the organization (acquisition), to borrow it (licensing), to develop it with a partner with some specific expertise in this area (joint venture), or to concentrate on developing the knowledge internally. By studying how knowledge has been acquired and the problems associated with each route, it is then possible to come to some general conclusions about the best overall method for developing competitive advantage in the 1990’s and beyond.