It has been widely said that the only thing you can be sure about when it comes

Question

It has been widely said that the only thing you can be sure about when it comes to the future is change. Samuel Clemons also suggested in a similar vein “if you don’t like the weather, just wait a minute, it’ll change.”

1. If a firm is going to prosper in the future it is going to need to be able to innovate. Explain what steps need to be taken to ensure that a firm will be a leader in the future.( Identified and fully explained 4 or more steps for ensuring that a firm will be innovative. )

2. Once something is a trend, it is too late. Identify the dangers behind benchmarking, and explain how they impair/impede a firm’s ability to innovate? (Identified and fully explained at least 3 or more dangers to benchmarking.   )

3.It has been said that technology has revolutionized the way we do business. Identify and explain what you believe will be the next, great technological revolution that will transform the business world and explain the impact that it will have on the future of business.( Identified what the next great technological revolution will be and fully explained 3 or more impacts that this technological revolution will have on the future of business. )

Explanation / Answer

Firms should take steps to ensure that employees are able to contribute creatively in their workplace while ensuring thatthe organization is flexible enough to adopt changes. To accomplish these goals, the following steps are critical for the transformation of an organization.

Job title and role modifications. Redesigning of jobs is important because an organization is able to focus on development of identified innovative systems as well as fund innovation. For instance, critical thinking or problem solvingskills are not prioritized in the current systems. However, they are essential in helping an organization remain relevant through innovation.

Diversification in the workplace. Often, the structural rigidities in some systems limit the ability of some employees to contribute or connect. Through creation of diversified teams, an organization is able to capture a large scope of content while their pool of ideas is increased.

Organization culture evolution. Allowing the development of an innovative culture ensures that an organization is ever innovative. Therefore, cultural changes are necessary to ensure that the employees are aware of the expectations in the firm while the company’s system supports them.

The benchmarking considered here is that which is performed against an industrial trend or market. Some critical dangers accompany using this method within an organization. These include:

Contentment. If an organization realizes that its performance is relatively good in the market, it is likely to slow down on innovation as it is already dominant and well performing.

Innovation impediment. Benchmarking allows a company to collect immediate data from the market for decision making. Therefore, acting on this data limits the company’s ability to innovate originally or with foresight of the future needs.

General resistance. Benchmark results allow a company to make fast changes so as to remain relevant in a market. However, the general tendency to resist change by individuals limit the company’s flexibility, hence inhibiting its innovativeness within that period.

Technology is credited with increasing efficiencyof various activities and processes. Therefore, it has revolutionized business into a highly efficient and fast activity,and system. Through increasing confidence of doing business, technology has ensured that people are able to perform more with less. Therefore, it promotes innovativeness through freeing up resources for innovative purposes.

The next step would be complete automation of business activities. While some similar technology exists, it is only used for analysis and suggestions. An automated technology in business will eliminate errors such as loopholes in business operationsand allow optimal industrial performances.

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