INNOVATION + CHANGE

Question 1

Innovation Mgmt
- Definition
- Types of Innovation (+ brief explanantion)

Answer 1

• The process of managing ideas, knowledge, and technology to create new products, services or processes
  Types:
• Product innovation: Development of new or improved products
• Process innovation:
  improvement of internal processes and workflows
• Business model innovation:
  Changes in the way a business operates, delivers value, and captures revenue

Question 2

Fostering Innovation

Answer 2

Creating a Culture of Innovation: Encouraging creativity, risk-taking, and learning from failure.
Leadership in Innovation: Leaders must champion innovation, provide resources, and remove barriers.
Innovation Teams: Cross-functional teams with diverse skills and perspectives to drive innovation projects.
Open Innovation: Collaborating with external partners, customers, and other stakeholders to source ideas and co-create solutions

Question 3

Change Mgmt
- Define
- Types of Change

Answer 3

Definition: The structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state.
Types of Change:
Transformational Change: Fundamental changes in strategy, structure, or processes.
Incremental Change: Small, continuous improvements.
Reactive Change: Responding to external pressures or crises.
Proactive Change: Anticipating and preparing for future challenges and opportunities.

Question 4

Models and theories of Change (3)

Answer 4

Lewin’s Change Management Model: Unfreeze, change, refreeze.
Kotter’s 8-Step Change Model: Create urgency, form a powerful coalition, create a vision, communicate the vision, remove obstacles, create short-term wins, build on the change, anchor the changes in the corporate culture.
ADKAR Model: Awareness, Desire, Knowledge, Ability, Reinforcement.

Question 5

Overcoming Resistance to Change
- common reasons
- strategies to overcome

Answer 5

Common Reasons for Resistance: Fear of the unknown, loss of control, bad timing, lack of trust, disruption of routines.
Strategies to Overcome Resistance:
Communication: Clear, consistent, and transparent communication to reduce uncertainty and build trust.
Participation and Involvement: Involving employees in the change process to increase buy-in and ownership.
Support and Facilitation: Providing training, resources, and support to help employees adapt to change.
Negotiation and Agreement: Addressing concerns and negotiating with stakeholders to gain their support.
Coercion: Using authority to enforce change when necessary, though this should be a last resort.

Question 6

Sustaining Change

Answer 6

Embedding Change: Integrating new behaviors and practices into the organizational culture.
Continuous Improvement: Encouraging ongoing evaluation and improvement to sustain the benefits of change.
Monitoring and Feedback: Regularly assessing the impact of change and making adjustments as needed.