This is a 2,000 word limit for your submission. This excludes references and appendices. Please...

Question

This is a 2,000 word limit for your submission. This excludes references and appendices. Please include an Executive Summary (approximately 250 words, not included in word count) at the start of your finished paper. Please include a title page with the organisation you researched, your name and your final word count (for main body) of your submission. Include page numbers, separate indices of tables and figures, all appropriate in-text references and a bibliography.

As a Consultant, please make sure to format the report in a professional manner and make good use of Headings/subheadings/numbering. Note that we are researching on a financial services institution (Bank).

Describe the strengths and weaknesses in the organisation’s innovation management structure.

Discuss how the organisation currently sources new ideas, technologies and so on for its innovation activity. Evaluate, critically, the effectiveness of the current approach and discuss how this can be improved.

Discuss how the concepts of lead user innovation, open innovation and disruptive innovation may or may not be applicable to the organisation’s sourcing approach.

Provide a diagrammatic illustration (and a narrative) of the organisation’s innovation strategy, even if the organisation does not have an explicitly defined strategy.

Propose how an improved innovation strategy may be developed, making sure that all the building blocks of an innovation strategy, as discussed in the module notes, have been addressed.

Propose how this new strategy may be implemented. Describe how the process of implementation will be managed, both from the processual and change management points of view.

Discuss the potential challenges in implementing the proposed innovation strategy and how these could be overcome.

Discuss how you would monitor the success of the new innovation strategy.

Synthesise related theories and models from the module readings and literature.

For instance you might start your Introduction with a brief paragraph on what was the main accomplishment in the first submission - for examplea note of how structure of the organization helps or hinders innovation andsome of the main recommendations..
Next make sure to have a subsection/heading with numbering to address each part of the questions giving a right balance using your ingenuity.
For instance
2.0Strengths and weaknesses in the organization’s innovation management structure(remembering that we are not expecting a SWOT)

3.0
Current sources of new ideas, technologies

Please make sure here to

'Evaluate, critically, the effectiveness of the current approach and discuss how this can be improved'

4.0Lead user innovation, open innovation and disruptive innovation

Again make sure to discuss how the concepts 'may or may not be applicable to the organization’s sourcing approach'

Robert · Accepted Answer

Innovation and change – Transpacific       1
Innovation and change – Transpacific 
Name of the student 
Course Name 
University Name 
Date 
Innovation and change – Transpacific       2 
Innovation and change – Transpacific 
Executive Summary 
The companies are strongly focusing on innovation with a strong focus on innovation and 
change, the development, application, and enhancement of new technologies are occurring at a 
breathtaking pace, and innovation is determining the way business is being conducted. With the 
increasing number of new ventures, products, technologies, and patents the companies have to 
have a very strong focus on innovation and change with the help of which the companies are able 
to survive in the competitive world today. The companies are focusing on redefining their 
markets, restructuring their operations, and modifying their business models so as to cope up 
with the competition. With a focus on innovation and change the companies are moving ahead 
and attaining competitive advantage so as to survive in the competitive market. With a focus on 
innovation the companies are able to focus on different opportunities and taking the advantage of 
the opportunities. 
The business environment in today’s time is strongly filled by ambiguity and discontinuity, to 
evade from this the companies needs to strongly focus on improvising and experiment different 
things so as to as attain sustainable competitive advantage, Innovation does not result into 
immediate result, the innovation undertaken takes time to produce effective and productive 
results. 
In this report we will bring into picture the innovation strategy that has been adopted by the 
Transpacific Company with the help of which the company is able to survive in the competitive 
world. The paper brings into picture the need of innovation by the organization which is 
designed with a strong focus on its strategies, vision and mission. This report also brings into 
Innovation and change – Transpacific       3 
picture the culture of the company which helps in developing and designing the innovation 
strategy.  
The report also brings into focus the change process that was adopted by the company and the 
forces that enabled the company to focus on adopting innovation and change. 
Company Overview 
Transpacific is one of the biggest recycling, waste management and industrial service 
company of Australia and New Zealand. The company strongly focuses on eliminating waste by 
recycling them and making them being reused by the clients. The company has dramatically 
improved its performance in last few years the company was able to increase its revenues by 5% 
as compared to last year, the total waste management business was offset due to change in the 
truck market.  
With the changing need in sustainability and environmental concerns the organizations 
have a strong focus on working as per the environmental needs and demand. 
The company focuses on operating three major segments like Cleanway in which the 
company focuses on collecting different municipal, residential and industrial collection service 
for different types of solid waste streams, which includes general waste, recyclables, 
construction and demolition waste. This segment focuses on ensuring long term sustainability in 
terms of different natural sources.  
The other segment is industrials Australia which focuses on collecting different liquid 
wastes, grease trap waste, oily waters and used cooked oils. The company also deals in catering 
different services in terms of emergency spills response, vacuum loading, site remediation, 
sludge management, parts washing, concrete remediation, corrosion protection, asbestos 
removal, hydro excavation and catalyst services.

This is a 2,000 word limitfor your submission. This excludes references and appendices. Please include anExecutive Summary (approximately 250 words, not included in word count) at thestart of your...

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