BSBSTR801 Lead Innovative Thinking and Practice

Instructions:

1. This assessment item has 2 Part A has Multiple- choice questions, and Part B has Short answer questions.
2. In order to be treated as competent, you have to attempt all sections and demonstrate satisfactory
3. Answer all After completion, save the file and submit on PCT’s Moodle portal.
4. Use clear descriptions and expressions.

Part A - Multiple Choice Questions (Attempt all Questions)

Tick or Circle the most appropriate response

1. Innovation is
   1. A concept that analyses production, distribution and consumption of goods
   2. The creation of better or more effective products, processes, technology or ideas
   3. A computerized method of designing better products
   4. An engineering process which is cost-effective

2. Which of the following statements is not correct?
   1. When variation is found between actual performance and required objective, managers take action
   2. KPI does mean Key performance indicator
   3. Choosing a right performance indicator is often a challenge for Managers
   4. Non-statistical method is easy way to measure and compare performances
3. Organizational culture can affect all components except:
   1. Work practices
   2. Value of time
   3. Availability of raw material
   4. Relationships between staff and management

4. Managers need to examine internal and external factors for risk External factors for risk may include all except,
   1. The economic environment
   2. Competitor’s activity
   3. Work culture and practice
   4. New technological changes

5. SWOT analysis is commonly suggested method for:
   1. Controlling risk factors of an organization
   2. Implementing a new process
   3. Quality Improvement
   4. Managing challenges and opportunities

6. During a change scenario manager need to,
   1. Understand and communicate the context of change
   2. Facilitate processes and operations
   3. Be innovative and tolerant of risk taking
   4. All of the above

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7. Empowerment is:

1. The power of management
2. Giving employees responsibility over the work they are required to do
3. Suitable training programs are needed to support organization’s policy
4. Communication processes used by information agencies

8. The advantages of MIS (management information systems) may include all except:

1. Creates a competitive advantage
2. Facilitate communication
3. Helps in better decision making
4. Decreases organizational control

9. An innovative organization requires,
   1. An organic structure
   2. Tolerance of risk
   3. A high degree of autonomy
   4. All of the above

10. Sustainability in management practices may include;
    1. Improving resource and energy efficiency
    2. Complying with regulations and corporate social responsibility
    3. Implementing government initiatives, e.g. Australian government's Greenhouse Challenge Plus
    4. All of the above

11. The factors which foster creative climate within an organization may include all except ;
    1. Clear goals
    2. Strict rules and regulations
    3. Trust
    4. Diversity

12. Innovation and organizational learning influence
    1. Employees’ performance and behavior
    2. e) Agility and responsiveness of the organization
    3. ICT capabilities
    4. All of the above

Part B - Short answer questions  

1. Briefly mention different strategies to generate new ideas and thinking? Explain the situation or reason that can stop you from being innovative?

-       Preparation: loading up your mind to be creative. Inspiration/Insight: the process of generating ideas. Incubation: the process of refining and iterating ideas.

Verification: the process of validating ideas

2. Briefly explain what do you understand by ‘creative thinking’? Do you think it is always necessary to have creative thinking techniques to invent something new? Explain with

-       Creative thinking refers to using abilities and soft skills to come up with new solutions to problems. Creative thinking skills are techniques used to look at the issue from different and creative angles, using the right tools to assess it and develop a plan.

3. Outline how do you spot opportunities for innovation?

•  Analogous business. Examine what other innovative companies are doing to successfully move their business forward. ...
• Surging trends. ...
• Extreme customers. ...
• Customer needs: Addressing frustrations, concerns and complaints. ...
• Collaboration: Putting ideas into action

4. Describe why it is important for organizations to innovate?

-       Innovation is often necessary for companies to adapt and overcome the challenges of change. It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today's highly competitive world

5. Write down various ways to build innovative culture in an Do you think iPhone was an outcome of having a good innovative approach in an organization?
6. Can innovative thinking be trained? What are the best possible ways?

-       Several exercises have been found to enhance creative performance. For example, teaching people to detect novel ideas, take on challenging tasks, retrieve knowledge outside their main area of expertise, or combine unrelated things or ideas can all boost creativity.

7. Explain how could you identify and manage risks during an innovative
8. Outline which leadership style is appropriate for innovation.