Write a report simulating the role of a senior innovation manager whose main purpose
BUSM4737: Leadership and Management – Management Assignment Help
Write a report simulating the role of a senior innovation manager whose main purpose is to lead an organisation to achieve social impact. You are tasked with responding to five scenario-based questions which incorporate key leadership and management theories from Weeks 4–6 of this course.
This assessment will provide you with the opportunity to practice gaining credibility within an organisation by applying key leadership and management concepts and using appropriate professional language. As a future leader and/or manager, it is important to be able to recognise challenges within organisations and identify suitable strategies to overcome and improve vital operations.
This assessment will measure your ability to:
Apply comprehensive knowledge of course content to professional practice
Construct rich responses that are supported by well-integrated theories and concepts
Integrate highly relevant examples to support your responses
Incorporate high-quality academic writing that integrates referencing according to RMIT Harvard style
Course learning outcomes
This assessment is relevant to the following course learning outcomes:
CLO1 Recognise the appropriateness of different types of leadership styles in a range of organisational settings.
CLO2 Accurately assess your personal strengths and areas of challenge and effectively selfmanage these towards improved practice.
CLO3 Explain how effective managerial leaders are able to diagnose and ethically improve the key areas of organisational functioning.
CLO4 Motivate and influence others in ways that contribute to sustainable organisational performance.
This assessment task comprises five questions that you are required to answer in a written format in line with the provided scenario.
About a year ago, the company recruited a new chief executive officer (CEO) who had previously worked with one of the leading competitors within our industry. Upon their arrival, they worked closely with senior executives and shareholders to design and develop a five-year competitive strategy for the organisation. The core objective of this strategy was to ensure business growth with the view to expand the operations globally. To achieve this, the CEO has commissioned a new department that will lead in key areas of innovation and change and ensure that the products designed by this new department will appeal to an international audience.
In your simulated role of the new senior innovation manager, there are numerous challenges ahead of you, such as motivating the current team, developing effective communication, responding appropriately to leadership styles and overcoming cultural barriers within the team and with key external stakeholders. You have been recruited to join this organisation with the sole purpose of leading to achieve social impact.
Write a response to each of the following questions (approximately 550 words per question).
The new role of senior innovation manager entails you to be working in a high-performance employment setting where you must deal with setbacks and roadblocks to achieving desired business outcomes. Often, this means the CEO may adopt an authoritative and pacesetting style to influence decisions. Reflecting on your own personal strengths and areas of challenges, how would you manage this situation in order to achieve social impact?
The organisation is in the process of expanding the innovation department from Australia to China as part of the long-term expansion strategy. How might national culture prove to be a communication barrier for the company’s Melbourne-based representatives? What could you do to overcome the cross-cultural communication barriers as the senior innovation manager?
Effective communication is essential to positively influence others within the innovation department. As the senior innovation officer, explain an approach you could implement to influence the CEO to ensure that your recommendations for improvement organisational performance are employed.
The organisation has been struggling to motivate a group of employees who work in the research and innovation department, despite giving them a 10% salary increase. As a senior manager, what could you do to improve their level of motivation, and why do you think this approach will make a sustainable difference?
Innovation is critical to overall business growth and success, but the organisation is behind their competitors in this area. As the senior innovation manager, what do you suggest to improve creativity and innovation in the organisation?
As the new senior innovation manager, my primary goal is to achieve social impact while working closely with the CEO to expand the organisation’s operations globally. In this report, I will respond to five scenario-based questions that will address my leadership and management strategies to overcome challenges and improve vital operations.
Question 1: Reflecting on your own personal strengths and areas of challenges, how would you manage this situation in order to achieve social impact?
In a high-performance employment setting, the CEO may adopt an authoritative and pacesetting style to influence decisions. As a senior innovation manager, it is essential to recognise my personal strengths and areas of challenges to manage this situation. One of my strengths is that I possess excellent communication skills, which I can use to bridge the communication gap between the CEO and the innovation department. I can also create a platform for open communication to foster innovation and collaboration, leading to social impact. On the other hand, one of my challenges is that I may lack experience working in a competitive industry, which may hinder my ability to come up with effective solutions. To overcome this challenge, I can work with the innovation department to develop creative ideas and solutions that will enable the organisation to achieve social impact.
Question 2: How might national culture prove to be a communication barrier for the company’s Melbourne-based representatives? What could you do to overcome the cross-cultural communication barriers as the senior innovation manager?
Expanding the innovation department from Australia to China as part of the long-term expansion strategy may face cross-cultural communication barriers. National culture may be one of the significant barriers that the Melbourne-based representatives may face while working with Chinese stakeholders. Cultural differences may result in misunderstandings and communication breakdowns. To overcome this challenge, I can initiate a cross-cultural training program for the Melbourne-based representatives, which will provide them with the necessary skills and knowledge to interact effectively with Chinese stakeholders. I can also create a platform for open communication that will encourage the representatives to share their challenges and experiences while working with Chinese stakeholders.
Question 3: Explain an approach you could implement to influence the CEO to ensure that your recommendations for improvement organisational performance are employed.
Effective communication is essential to positively influence others within the innovation department. As the senior innovation officer, I can use the following approach to influence the CEO to ensure that my recommendations for improving organisational performance are employed:
Develop a clear and concise report detailing the recommendations for improving organisational performance.
Schedule a meeting with the CEO and other senior executives to present the report.
During the meeting, I can use effective communication skills to articulate the recommendations and their potential impact on the organisation.
I can also use data to support my recommendations and demonstrate the positive outcomes that the organisation will realise by implementing the proposed changes.
After the meeting, I can follow up with the CEO to ensure that the recommendations are implemented.
Question 4: As a senior manager, what could you do to improve their level of motivation, and why do you think this approach will make a sustainable difference?
Motivating employees in the research and innovation department may require a different approach than salary increments. As a senior manager, I can use the following approach to improve their level of motivation:
Create a culture of innovation by encouraging open communication and collaboration among team members.
Provide employees with opportunities to work on innovative projects and initiatives that align with their skills and interests.
Recognise and reward employees who demonstrate exceptional innovation skills and capabilities.
Provide regular feedback and coaching to employees to help them improve their innovation skills.
This approach is sustainable because it creates a culture of innovation that fosters employee engagement and motivation. Employees are more likely to be motivated when they feel that their contributions are valued and that they are making a significant impact on the organisation.
Question 5: As the senior innovation manager, what do you suggest
MAN303: Business Plan – Report Writing
You are required to write a 1500 word report presenting a business plan for an imaginary software app venture, described in the scenario below:
Scenario: Forget-me-not app
After being locked out of your Kaplan account too many times for forgetting your password, you decide to develop a phone app that will securely store and remember all passwords. Developing this business will include market research, software development and marketing. You have to develop a plan, including a revenue strategy to turn your idea into a profitable business.
In this individual assessment, students will be given the opportunity to construct a comprehensive business plan for potential investors, demonstrating an understanding of business metrics, and effectively promoting investment potential.
A business plan is a written document containing the goals for the business and the methods for attaining those goals, including the business model, resourcing, operations, and marketing. A business plan can help you obtain financing, gain support from staff, suppliers and other stakeholders, and provide direction, discipline and motivation to all business activities
Your task is to develop a business plan in report format for the ‘Forget-me-not’ scenario above, using the headings and content as below:
Venture idea, including:
Value proposition, target customers and justification
The vision and goals for the business
Industry and competitor analysis (how are you different from any alternatives?)
Business model, referring to the lean canvas framework
Venture financials including cost estimates, revenue justifications (price x quantity), whether need external finance, and how you would seek this.
Conclusion: a re-statement of the key points in your report and a justification of why your venture idea is worthy of investment.
The word count will not include the executive summary, reference list or any words in tables.
You are required to use at least 3 sources of information and use the Kaplan Harvard Referencing Style. These may include course content, websites, government publications, industry reports, journal and newspaper articles. These references should be included as in-text citations and a reference list at the end of your business plan.
The Forget-me-not app is designed to help people remember all their passwords securely. This app is designed to cater to the growing need for a password manager that is reliable and easy to use. This business plan aims to outline the value proposition, target customers, and goals of the venture. The report also discusses industry and competitor analysis, business model, venture financials, and a conclusion summarizing the key points and justifying the investment.
Value Proposition, Target Customers, and Justification
The Forget-me-not app offers a unique value proposition for its customers. The app will provide secure and easy-to-use password management, eliminating the need for remembering multiple passwords. The app will be compatible with various devices and will be available at an affordable price. The target customers for the app are individuals who have multiple online accounts and struggle to remember passwords.
The Vision and Goals for the Business
The vision for the Forget-me-not app is to become the most popular and trusted password manager globally. The goals for the business are as follows:
To develop a user-friendly and reliable password manager that caters to the needs of the customers.
To build a strong brand image and increase market penetration.
To generate revenue and profitability by acquiring a significant market share.
Industry and Competitor Analysis
The password management industry is growing rapidly. Various password managers such as LastPass, Dashlane, and 1Password are already established players in the market. However, the Forget-me-not app aims to differentiate itself by providing a more user-friendly and affordable option compared to the competitors. The app’s unique features, such as biometric authentication and the ability to store multiple types of data, will provide an advantage over the competitors.
The Forget-me-not app follows the Lean Canvas framework. The key components of the business model are:
Key Partners: The app will be developed in-house, and partnerships will be established with payment gateways and marketing agencies.
Key Activities: The key activities include software development, marketing, and customer support.
Value Proposition: The value proposition of the app is to provide secure and easy-to-use password management.
Customer Relationships: The app will be sold through app stores, and customer relationships will be maintained through email and social media marketing.
Customer Segments: The app targets individuals who have multiple online accounts and struggle to remember passwords.
Key Resources: The key resources are the development team, marketing agencies, and payment gateways.
Channels: The app will be sold through app stores and marketed through email and social media marketing.
Cost Structure: The cost structure includes software development, marketing, and customer support costs.
The Forget-me-not app requires an initial investment of $200,000. The revenue will be generated through the sale of the app at $2 per download. The cost of development is estimated at $100,000, and the marketing and customer support costs are estimated at $50,000 each. The projected revenue for the first year is $300,000, and the net profit after deducting all costs is $100,000. The venture does not require external finance as the initial investment will be self-funded.
The Forget-me-not app offers a unique and compelling value proposition to its target customers. The app’s differentiating factors, such as biometric authentication and the ability to store multiple types of data, will provide a competitive edge in the password management industry. The business model follows the Lean Canvas framework, and the venture financials indicate profitability in the first year. Therefore, the Forget-me-not app is worthy of investment, and we believe that it has the potential to become a significant player in the password management industry.