Executive Summary
Creativity and innovation are the key instruments of success in the corporate world. They aid in mobilizing resources with new aspects to create wealth. Creativity and innovation therefore lead to wealth creation. Organizations such as Procter & Gamble manage to achieve competitive benefits when they become creative and by utilizing their innovative acts. Firms have the capability to maintain competitive benefits.
This is through the prices and quality of goods they produce and through services they offer. In the competitive corporate world, innovation is vital for the company to thrive in the competitive markets where demarcation of products and services appears increasingly complex. Innovation and creativity facilitates the ability of companies to enlarge their customer base by stimulating markets with new and improved products and services.
This is essentially a key element for competitive benefits in the companies. It facilitates them propel ahead of their rivals before they convey their own creativity and innovations in the market. Creativity and innovation sustains the companies’ capability to manage premium. It also guarantees additional yields and revenues for the company and also increases the rate of shareholders. Procter & Gamble employs creativity innovation management in the firm. Its main goal is to endorse the growth and development of the rates of their shareholders. There is nothing more that can maintain growth in a company other than creativity and innovation. These two key aspects innovates all the areas of the company in terms of the products and the services they offer (Jim 2007).
Introduction
Creativity is the foundation for innovation. For innovation to take place there should be creative ideas and the potential to transform the ideas and implement them in order to bring forth grand positive changes in the organization. The outcome is usually substantial and precise change in services, products or the organization’s developments. Therefore, innovation can be defined as successful implementation of creative ideas in organizations.
This means that individual and team creativity is the fundamental preliminary point for the process of innovation. New technologies and new ways and ideas of performing things in the firm are the central advancements of innovation and creativity. The significance of innovation has become a key subject matter in management today. The information of creativity and innovation carries out an imperative function in the development of the economy (Ramesh 2000). Innovation and creativity has converted knowledge and ideas into products and services. This paper mainly analyses the creativity and innovation in Procter & Gamble Company.
Current Creative and Innovative Management Processes in Procter & Gamble
Procter & Gamble achieves this through various links, making good use of internet based sources and hiring a skilled people whose work is to operate as internet gate keepers. These people use refined exploration and visualization devices to collect information concerning a wide variety of development in expertise, markets, rival characteristics, and social and political tendencies. They convey the information to the concern of others within Procter & Gamble who may be proficient to utilize these techniques to enhance the innovation process.
This exploration procedure is associated with other ways of connecting for example the internet based companies. These facilitate the customers’ organization to supply creative ideas, technologies, products and services from external organizations fast and economically by linking them to the best resolution suppliers across the globe. They also work with another website; InnoCentive.com, which grants them an online market. This is utilized where the company looks for remedies to problems and they are brought together to researchers with solutions to recommend.
This should not neglect the noteworthy involvement that internal ideas can produce. Procter & Gamble has a wide variety of efficient internal performance around various product groups, technologies, and markets. This enables it to derive its knowledge progressively through the use of intranets. One latest development has been the Encore program whereby the retired employees of the organization and possibly those of other companies can be mobilized to act as knowledge and development resources in an absolute innovation system.
The fundamental advancement is a transfer in emphasis, not deserting the internal factors but harmonizing it with an widespread external viewpoint. Increasingly they perceive their task not just a managing knowledge but also who to be familiar with (Dean 2011).
Leading Others to Positively Embrace the Innovation and Change
Innovation process is all about making changes which including, handling and conducting things in a different way and thinking differently as compared to before. One way in which the company can make something embrace innovation and change is by making them think differently and help them manage the change. However, change process involves denial, anger and bargaining which will finally lead to acceptance.
This therefore means that if the company is to lead a group of people or a person to embrace innovation and change, it will have to encounter all these reactions. If it sees them react in denial, anger or bargain, then it is crucial to know that it is making some progress since they are being serious. The only best tool to use to manage change among the people is preparation.
The first thing to do when leading others to embrace change is to break down change into special phases to enable easier transition. The next step will be to expect how the people that are being led to change will react to change at every phase (Tim 2012). These people being led to change may include stakeholders, team members or final users. However, the company must prepare itself well to address their questions, concerns and complaints because that is one way in which they will respond to change. Without a reaction then it is certain that the team or the person the company is leading to change has not yet experienced the change itself. The company should not think negatively or imagine that the reactions mean that the person is in denial, it is however a clear sign that they are experiencing change.
The next step to lead people to embrace change and innovation is by explaining to them the proposed innovation or changes in diverse ways to enable them understand what is expected of them. The company can use visuals such as diagrams, drawings and charts to clarify the changes and every step involved in the process. Innovation is an opportunity to do perform professionally, gracefully and efficiently in its concerns solving issues in a creative manner.
It is important to start with the simple innovation before moving to bigger innovation. Run a meeting with the team members where they are expected to take notes and thereafter send them out and make follow up to ensure that the group is aware of their commitments. Make sure to use a method which the team members like so that they do not become bored and give up on the change process. Procter & Gamble can use a large screen or diagrams when running the meeting, you can also type brief notes on PowerPoint which will be utilized to teach the group. Finally, the company can give the group members handouts which they can read to remind themselves of what is expected from them (Anderson 2012).
The importance of these steps is to help the group you are leading to change and innovation to focus on the main agenda at hand, you will also be able to obtain immediate validation, make clarifications and revisions for the participants. The participants will find this method to be assurance. This method also saves on time and lastly it engages those in remote areas to take part for example through the web conferencing. After handling the smaller innovation, the company can now move to bigger innovation where it determines what it can do as a single entity. This means that it does not have to give up on the group despite the challenges that may exist.
Influence of Vision and Mission Statement on Generation of Creative and Innovative Management Processes
In order to attain high innovation standards, Procter & Gamble has to be ambitious with its vision and mission. This is the reason why the company has to have a vision that is attractive, authentic and challenging. The vision will determine what the desired outcome will be like. The desired outcome should be revitalizing and inspiring to formulate a mental picture of its desired future goals or organizational goals. Vision will provide motivation, direction and purpose for the organization. The overall corporate success will mainly depend on the company’s vision enunciated by top management.
On the other hand, the mission statement is what will transform the visions set into practice and give them reason direction. The mission statement clarifies the purpose of the organization for example it provides reasons why it is carrying out innovation. The mission statement also provides the goals and priorities of the business with its innovation process. It is the mission statement that communicates the organizations visionary goals and core ideology. The mission statement will make the organizational goals accessible to the world (James 2008).
Use of Analytical Tools to Identify Potential Creative and Innovative Management Ideas
Creative and innovative management subsists through the continuous establishment of new ideas which come spontaneously. Organizations rely on these new ideas to manufacture products and solve issues in the market using innovative skills. There are several designs in which these new ideas can be produce. They include the discussion with associates and friends concerning Procter & Gamble. The ideas can also be attained from technology instruments such as internet sources. The company can also evaluate the trend in the market. The potential ideas can also be acquired from books, magazines, reports, and publications. Utilizing creative mechanisms such as brainstorming is also another effective way in which the company can attain ideas.
Risks and Benefits of Creative Innovative Management Ideas
The benefits of creative innovative management ideas include the establishment of the fundamental procedures of innovation by aligning individuals, technologies and processes to attain organizational success in Procter & Gamble (Nell 2012). The ideas sanction people to launch the transformation processes and to implement them. It also helps the employees to work together and embrace the team spirit to achieve innovation since it is a principle that determines their actions.
The ideas also promote harmonization and discipline within the organization. There are also risks concerning creative and innovate management ideas which the company may undertake. The main one is that the idea may not be good enough to produce the necessary transformation within the Procter & Gamble Company. This may result to failure which may eventually tarnish the name of the company.
Change of Models to Support the Implementation of Creative and Innovative Management Ideas
There are models to support the implementation of creative and innovative management ideas. They include initiation, diagnosis, establishment, acting and learning. Initiation provides the precise location of the company to where it can be traced in the world. Diagnosis incorporates the period utilized by the chief executive to attend conventions with the employees and carrying out organizational interviews in relation to creative and innovation ideas. Establishment integrates the ideas and executes them in all the main branches of the organization around the globe. Acting entails incorporating the ideas by the firm. Finally, the firm should establish a learning initiative where employees of Procter & Gamble acquire more information concerning the innovation process.
Conclusion
In conclusion in order to enormously flourish in the competitive market, Procter & Gamble has personalized the concept of creativity and innovation as a process for management. The outcome of the implementation of creativity and innovation process is evident in the manner in which the firm has advanced since it commenced the process. Creativity and innovations provides the overall success of the Procter & Gamble Company (Lauchlan 2010).
Reference List
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