Question

Please I need help with this question- In “Business Model Innovation in Practice," Euchner and Ganguly (2014) discuss the challenge of implementing innovations within organizations that are naturally resistant to change. They present a systematic approach for integrating innovations to increase the likelihood of acceptance and success. Review their five-step approach and discuss how the four functions of management (planning, organizing, leading and controlling) can be leveraged within in their suggested approach to assist organizations in implementing successful innovations. Please I need a typed work, not hand written. Provide references in APA form. American English please. Thank

Answer 1

“Business Model Innovation in Practice," Euchner and Ganguly (2014)

The challenge of implementing innovations within organizations that are naturally resistant to change are as follows:

• Adding new or creative ideas
• The innovation of new ideas or thoughts
• Controlling the risk
• Should be focussed toward the goal of the business
• Unique idea generations

They present a systematic approach to integrating innovations to increase the likelihood of acceptance and success.

Their five-step approach is as follows:

1. Demonstrate value creation and generate business model options

2. Identify risks for each option

3. Prioritize risks

4. Reduce risk through business experiments

5. Organizes for incubation

The four functions of management (planning, organizing, leading and controlling) can be leveraged in implementing successful innovations on the basis of Business Model Innovation are as follows:

Planning- According to the Euchner and Ganguly, Planning is the most important step to start the innovation and leads it successfully.

Organizing- The model of organizing the complex or large-scale organization is divided into smaller subparts or groups then it would be easy to demonstrate value and mitigate the risk.

Leading-. Leadership should be there to ensure the team growth and the management of the team employees into goal success.

Controlling- By controlling the working of the team employee, the leader should have to match the problems of the employees with the working process and have to find out the solution for it. Controlling would lead to the decision making of the new plan and risk analysis. This can be leveraged to assist organizations in implementing successful innovations.