Week 3 Team

The process of innovation must have four components : something new better than what exists , economically viable and widespread appeal . In to incorporate these components , the management at Riordan has to manage change . However when it comes to managing change , the biggest limiting factor is employee resistance . Therefore the management will have to create ownership and communicate the message . The importance of the role of innovation in the organizational context cannot be overemphasized . The importance is widely recognized . That is why most business organizations in the current business environment are constantly looking

into different areas of operations for inefficiencies and applying innovative fixes . Patching up the already existing state of affairs is one kind of innovation . This is limited in its scope because employees are not required to adopt new learning . However when it comes to business process reengineering , then the challenges involved in managing change are very demanding indeed

Riordan has to constantly change because the industry itself is constantly changing . In for the change to carry meaning in terms of profit maximization , change must be aligned with the strategic focus of the organization . This is a process that is best supported by an innovative culture . The organizational culture must motivate employees to think in innovative terms so that they can develop practical theory on their own regarding their work processes . When employees are motivated throughout the organization to change their work processes for the better in terms of minimizing benefits to cost ratio , then the combined effort...