BSBSTR601 Manage innovation and continuous improvement XXXXXXXXXX1 | P a g e Abbey College Australia National Provider No. 91136| CRICOS Registration No. 02658G Version V1.0 June...

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Answer To: BSBSTR601 Manage innovation and continuous improvement XXXXXXXXXX1 | P a g e Abbey...

Asif answered on Nov 19 2022
57 Votes
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PROJECT PORTFOLIO
)
    
    Contents
Section 1: Continuous improvement and innovation review    4
Section 2: Plan and implement continuous improvement and innovation    12
Section 3: Continuous improvement and innovation monitoring and evaluation    19
BSBSTR601 Manage innovation and continuous improvement 28|Page
Abbey College Australia     
National Provider No. 91136| CRICOS Registration No. 02658G
Version V1.0 June 2022     
    Student name:
    
    Assessor:
    
    Date:
    
    Business (and work area if relevant) this assessment is based on:
    
    Role:
What role will you assume?
How does this role contribute to the broader work goals?
    
    
    Section 1: Continuous improvement and innovation review
Summarise the business or work area.
    Review organisational documentation
Which documents did you read?
Which policies and procedures will guide your approach to approvals, project
management and change management?
Attach the documents (including the notes you made as you read them) to this section of the portfolio.
Attach the policy and procedures (including the notes you made as you read them) to this section of the portfolio.
    The necessary documents which have been seen are the shareholder's agreement and employee offer letter.
Policies such as the employee reward policies and the business project management are good to implement and will be helpful in the proper approach in attains success for the company.
    Products and services
What are the products and services?
    The startup business provided table services and focused on developing hardware for the undeveloped school. The main objective of the business is to provide the best services that enhance students' life and future very rapidly. The company also provides developed software, hardware, and other items to primary students.
    Objectives
List the key business objectives.
    The objective of this business is to reduce illiteracy and enhance the education system with developed technology very effectively. The startup business tries to develop new technology that helps to reduce illiteracy and develop the world education system with advanced technology.
    Key decision makers
Who are the key decision makers (stakeholders to whom you will report or seek advice from)?
    The decision maker of this company is the owner and budget manager. The CEO also developed this business by implementing new technology and software. He also decides to handle stakeholder pressure and manage the entire team very efficiently.
    Operational processes
Describe key operational processes.
    The key operational process of the company is the foundation of plans to adopt cloud-based research. It is one of the most innovative and technologically improving approaches of the company and will result in the development of a proper organizational structure inside the company. The operational process of promoting their sales by preparing videos is also a better way of improving the business.
    Supply chain
Summarise the supply chain associated with the work area or organisation.
    Worlducation has a very complicated supply chain that manages the sale and entire products with an effective strategy. This company's sales have online services that help this company to easily build strong management very effectively. The ERP system operates strong management that easily manages the entire service with a developed strategy.
    Performance Improvement
Which strategies are currently used to monitor and evaluate the performance and sustainability of key systems and processes?
Discuss the current continuous improvement systems, processes, and innovations being used.
    The main strategies used by the company in monitoring and evaluating the performance of the employee are the metrics for the work efficiency of the employees.
Offering team meetings to the employees is one of the best improvement systems followed by the company. The staff surveys organized by the company are also a significant improvement process.
    Policies and procedures
What are the organisational requirements for approvals, change management, project management and knowledge management?
    The policy and procedures of the company include the development of new communication platforms, the innovation of tools for the sharing of information and collaboration between employees, and the creation of various channels.  The policies comply with the relevant legislative orders and best practice standards. The company has been continuing its improvement in forming policies that will be the best for the business.
Summarise and analyse current performanceto identify changes and improvement opportunities.
    Analyse performance to identifyperformance variances from existing plans.
Summarise the performance outcomes of your business.
Include mathematical information in your summary
How has the current business performance varied from what was planned?
Attach documents showing performance information as evidence that you’ve collected the information.
    Define the present and the future to develop the business.
Create a great plan and target and the ability to meet the target.
Proper monitoring of the activities and also the result.
Get the right employees to ensure the development of the company.
Define the goals to understand the need.
Comfortable workplace for the employees.
    Identify and analyse trends and opportunities
Describe current trends and opportunities associated with industry in which the business operates.
Analyse how these trends and opportunities impact the business.
    Implementation of e-commerce to reach more problems with the products.
Utilization of social media to solve the queries of the customers.
Remote work to provide easy services to the employees.
 Work-life balance for the good sake of the employees.
Investment in financial coaching to train the freshers.
    Analyse supply chains and operational and service systems to identify changes, improvements, and new ideas
Following current trends and opportunities are needed to run and flourish a business to meet the need and demands of the business. New trends and opportunities help in building strong relations between employees and customers (Seet et al., 2018). Through the feedback from the customers business owners made themselves capable of building products to customers' choices and preferences.
Perform Gap Analysis using the table provided to describe the current state of the supply chain and operational and service systems and the desired state of the supply chain and operational and service systems. Also identify solutions to bridge any gaps and the cost-benefit calculations of the solutions. You may identify more than one solution per issue
    Current state
(at least four issues)
    Future state
    Gap solutions
(these may be changes, improvement opportunities and new ideas)
    Cost-benefit
    Employee shortage 
    After solving this issue, the management developed and enhance their business.
    It highly needs a lot of focus to solve this issue.
    It takes an email survey to identify employee productivity.
    Poor brand value
    It helps to develop the brand value and product image.
    The company needs to provide a promotion strategy and social advertising.
    It develops through effective management.
    Fail to satisfy client demand.
     Satisfying is more important for clients.
    Provide the best services to their clients.
    Need to develop products very effectively.
    Poor employee performance
    No Need
    The company needs to develop management very effectively.
    It takes a huge amount to implement software that needs to develop.
    
    
    
    
    Set objectives
What are the objectives for improving how things work?
What are the continuous improvement objectives and desired outcomes?
    The objective of the company is to grow at the current pace and secure a standard position in the market by the implications of the various practices and strategies.
The improvement objectives of the company are to have a sustainable approach and enjoy a good market position as their desired outcome (McDonald et al., 2019). Thus, the company has been trying to implement its strategies.
Identify team members and seek their input.
    Identify at least two team members
Who in the team do you believe is instrumental to ensuring continuous improvement and innovation? Give your rationale for this.
    The fist member is the CEO of this company who highly focus on developing innovations and changes that highly impact this business and develop more productivity very effectively.
The team member also plays a great role to enhance the company's services very effectively. They take a huge responsibility that develops the entire workplace.
    Best practices
Describe best practice ways of working that teams can use to achieve continuous improvement and to be...
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