+ 44 20 8144 3706Executive summary:
Innovation in the business is the significant part of the organization to bring the growth and sustainability in the business. For bringing the innovation it is essential for the business to apply the proper change management. The change management is not just the simple process but it involves complexity or issues that take time to resolve. IKEA is the organization who was facing the problems of less commercial sales due to which organization enters into the furniture business that got the tremendous results and IKEA presently is regarded as the best example to bring the disruptive innovation in their business through getting higher success. The study is related to the IKEA to understand the concept of innovation and its success through involvement of stakeholders and innovation models. The process of change management is also important to the business and it can also be made successful with the implementation of several change management model such as Lewin’s model or Kottler’s model of change management.
Introduction:
Newer technologies, opportunities and threats create the pressure on the organization to adopt newer capacities in respect of remaining significant, competitive and sustenance in the complex environment of business. The individuals and organizations have to put the change programme in order to have long time organization success. In this report, the study will look on the major theories of change and innovation while maintaining the general view on how the firm goes into change management decision. The discussion will also be done on one successful, one less successful change initiative and the influence of the two on firm culture. The potential environmental changes will be highlighted along with giving recommendations on leading and managing innovation.
The present report will focus on IKEA organization founded in Swedish, Netherlands based multinational organization. The organization is selling the affordable flat pack furniture. The organization has 389 stores and does around $45.1 billion annual retail sales and brought 2500 newer products to consumer every year. The organization is facing the competition through online retailers like Amazon and leaner furniture upstarts like Floyd but got the success embracing newer technologies. The organization has also begun to think like the technological organization by working on disruptive innovation.
Task:
Competitive advantage, strategy, innovation, creativity, culture and leadership
The competitive advantage is the attribute that enables the firm to outperform its competitors. It is the leverage the business has over the competitors. This can gained through offering customers better and effective value. The advertisement of products and services at low prices or greater quality gets the consumer’s interest. The target market identifies the unique services or products (Rothaermel, 2017). The strategy is the long term process that is developed for the organization to meet the desired future results the firm envisioned. The strategy involves the firm’s goals and objectives, the product or service that is planned to build, the customers wanting to sell and the market that is served for making profits.
Creativity is the potential or act of conceiving something unusual or original. Innovation is the execution of something new. Invention is the creation of something that is never been done before and is addressed as the product of some effective insight. Leadership culture is the self-reinforcing web of beliefs, patterns, practices and behaviours. It is the manner in which things are conducted, the manner in which individual communicate, makes decisions and impact others (Haycock, 2012).
Conclusion:
It can be summarized from the above that bringing the change and innovation in the any organization is not simple activity. It also includes the change process that brings the change in the whole business. On this context, the IKEA study had discussed the change management theories and models. The role of leadership, its styles and culture of IKEA had also been presented to implement the change effectively. The report had shown the learning importance, stakeholder involvement and business operations of IKEA with respect to disruptive innovation in its product line.
References:
Books and Journals:
Barczak, G., 2012. The future of NPD/innovation research. Journal of Product Innovation Management, 29(3), pp.355-357.
Brunsson, N. and Olsen, J.P., 2018. The Reforming organization: making sense of administrative change. Routledge.
Burke, W.W., 2017. Organization change: Theory and practice. Sage Publications.
Calder, A.M., 2013. Organizational change: Models for successfully implementing change.
Cavalcante, S.A., 2014. Designing business model change. International Journal of Innovation Management, 18(02), p.1450018.
Cummings, T.G. and Worley, C.G., 2014. Organization development and change. Cengage learning.
Elsmore, P., 2017. Organisational Culture: Organisational Change?: Organisational Change?. Routledge.
Hasson, H., von Thiele Schwarz, U., Holmstrom, S., Karanika-Murray, M. and Tafvelin, S., 2016. Improving organizational learning through leadership training. Journal of Workplace Learning, 28(3), pp.115-129.
Haycock, K., 2012. Strategic thinking and leadership. Library leadership & management, 26(3/4).
Hodges, J. and Gill, R., 2014. Sustaining change in organizations. Sage.
Hodges, J., 2016. Managing and Leading People Through Organizational Change: The theory and practice of sustaining change through people. Kogan Page Publishers.
Kohonen, T., 2012. Self-organization and associative memory (Vol. 8). Springer Science & Business Media.
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