Assignment 2 – Understanding Innovation and Change in an Organisation AC1.1 Explain the benefits of innovation and change for the organisation Change and Innovation are as equally important in creating and sustaining the growth of a business through organisational development. If planned and implemented well both could lead to a total change not just for the profit success of the organisation but can also have a positive impact on employee engagement. Innovation in the workplace fostered by teamwork and employee involvement in decision-making and reengineering business processes can boost morale and award incentives such as bonus payments. The purpose of organisational development is to enable an organization to better respond and adapt to industry/market changes and technological advances. The absence of both innovation and change in an organisations development can be the difference between being a leader in their field of business, failure to keep up with competitors, create stagnation or cause decline in their existing success.
It will give the management of any company the benefit of seeing how well the company is meeting the goals of their mission statement. The common characteristics of a balanced scorecard are the same for each and every company that uses one; however each company will obtain different results. This is because each company will perform differently and the balanced scorecard will help the company to determine what is working for the company and what needs improvement. The balanced scorecard will help to make the employees perform better, which at the same time will help to improve customer satisfaction, thus the cause and effect sequence. If the employees are performing their job better, they will deliver better quality products, in a timelier manner, thus raising the customer satisfaction.
1.1) The purpose is to become a better all rounded employee for the company thus benefiting the company with better output from yourself. The benefits of improving own performance is not only do you become a creditable asset to the company but you also become a better credit to yourself. Another benefit is that with continuously improving own performance the skills you learn will make every day to day work easier and result in getting work done quicker with less stress. If you’re always learning new skills it makes it easier to adapt to an ever changing business environment. 1.2) Feedback comes in all different way but are almost always positive in some way.
For employers, selecting the right candidates means identifying people with the right skills and quality that can help in the organisations success. Examples of employability skills; | Personal skills are the transferable skills that an individual posses that makes them attractive to new employers. Good personal skills are important when applying for job roles in Tesco. Good personal skills enables candidates to work well in a team, satisfy customers and also negotiate well with them, and also work effectively with other employers. This leads to a better working environment.
They may not have a massive influence such as other particular stakeholders but they play a key role. The manager would show influence as a stakeholder in the business only in a positive form. This will be beneficial for Asda as it will help them thrive as a PLC because it shows how much influence the managers of Asda can exert into the PLC. The managers of Asda will have to make decisive decisions to help the company grow and progress over a period of time, the company then can expand upon the performance of the business. They make these decisions with acquiring the detailed information which can help Asda flourish.
Competitors – they will be only interested if the Business means “ASDA” is not doing so well as this will mean more business for them , because they are offering the same services within the same area. They can use the financial statement of “ASDA” as a “bench mark” for their own performance. Owners- they are the most important stakeholders, because they have established the business and they devoted a lot of their time for the company success. They are the stakeholders, who have the higher interest for the business to raise on profit and value. Employees and Managers- their interest is that the company provides them with decent live hood.
They should be kept well informed of the financial state of the organisation, so as to encourage them to keep investing in the company. Shareholders want the company to do well because the better it does, the more money they stand to make and that’s what they are mainly interested in.
This knowledge means that they will use techniques in recruiting and selecting those adequate and qualified candidates for the required open positions that are available to be filled. Creating a work environment in which employees are productive is essential to increased profits for your organization, corporation or small business. One of the ways this is done is thru adequate training. Training is the process of giving the companies employees the knowledge and skills to complete the job or jobs they were hired for. Another way how an human resource department can make a pleasant environment for employees is through employee development.
It is important that companies find innovative ways to keep relations high between upper management and the employees themselves. Having good relations trickles down to improved services, improved production, and a happier work force. The best way that a manager / supervisor can do this is to be fair, be firm, and be a part of the team. Employees who have managers / supervisor who have been promoted from within a company and understands the job gives a morale boost when employees see that there are opportunities for them to "increase their status" Employees who have managers / supervisors who are hired " off the streets" sometimes feel resentments, due to the fact that they may feel as if the person is inexperienced. An employee's perception is everything, even if it may be incorrect.
Fords benefits from unionization because the union contracts can be negotiated and any work issues can be resolved, such as workplace safety, wages, and benefits. As a unionized company, the management at Ford will also benefit from UAW to keep its workers online to avoid low productivities. Another benefit of Ford Motors as unionized company is employees work satisfaction because of high wages, more fair practices, and guaranteed employments that leads to less company turnover. With the recent economic downturn many American businesses suffered losses, but with the help of the UAW Ford could overcome the economic barriers. In 2011 Ford and UAW agreed on a new contract approving profit sharing and signing bonuses in lieu of annual pay raises in setting the wages and benefits for 112,000 workers.