Task summary

·         This is an open book knowledge test, to be completed in your own time.

·         You need to answer all the written questions correctly.

Required

·         Access to textbooks/other learning materials.

·         Access to a computer and Microsoft Office.

·         Access to the internet.

Timing

·         Your assessor will advise you of the due date of this assessment via Canvas.

Submit onto Canvas

·         This completed workbook

Assessment criteria

·         All questions must be answered correctly for you to be assessed as having completed the task satisfactorily.

Re-submission opportunities

·         You will be provided feedback on your performance by the Assessor via Canvas. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

·         If any parts of the task are not satisfactorily completed, the assessor will provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

·         You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

·         You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

·         I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task

·         This assessment is my own work and where other’s works or ideas have been used, I have appropriately referenced or acknowledged them

·         I understand that plagiarism is a serious offence that may lead to disciplinary action.

The product process concept describes the steps involved in the development of the product, from its initial stage to the final stage which is the market launch. It involves six steps. The first stage starts from identifying the customer need to the final product that is ready for sale in the market (Kim, et al., 2019).

The concept of technological interdependence- is the interaction of technologies with dependence on one another to complete any work. The work is very much dependent on technology.

Meta-learning concept- it is the concept of machine learning which comes under computer science. It is the science of carefully observing how any machine works or performs its functions.

·         core business values

·         overall objectives

·         broader environmental context

·         value and benefit of innovative ideas and projects

(approximately 100 words)

Through sophisticated technology, the business can protect the employee’s personal data and information.

(approximately 100 words)

The rewards and incentives will surely motivate the employees.

The second tool can be organizing innovation contests. The managers in the workplace should conduct innovation contest in which every employee take part and comes with a new and innovative idea and software or any innovation that helps in the business. Awards and prizes should be given to them.

The manager can conduct innovation hackathons in the workplace in which employees can participate. This will encourage their talent and innovative skills (Kampylis, & Berki, 2014).

The other practice can be welcoming of creativity of the employees. The manager should listen and welcomes the ideas and suggestions of the employees that are new ad creative.

2.      Give importance to innovation- the manager should always emphasize the innovative techniques and ideas suggested by the employees.

3.      Appreciation and awards- for introducing innovation and new ways of working in the place, the manager should appreciate the employees and offers awards to them.

4.      Provide training and development- to adapt to the new technologies and learn how to make use of them. The manager should provide training sessions in the workplace

5.      Employee engagement- The managers should always involve their employees and other subordinates in the discussions and meetings and welcome their idea.

The behavioral approach of management focused on the individual employee, such as motivation, personal growth ad development, social systems, etc. it can promote innovation as it gives freedom to share views and innovative ideas. This can be a hindrance when employees seek only personal growth, not the organization’s growth.

(approximately 100 words)

Fear and lack of leadership-  Due to fear of taking risks in the business, growth is affected. Poor leadership can mislead the employees and they will not perform well. To overcome this problem, the manager should take a risk and improve his leadership skills, and gives direction to the teammates (Spieth, et al., 2014).

Lack of focus- if the employees and the workers are not focused on the technology and innovations, they could not give their best shot to achieve the goal and establish innovations in the organization.

Ways to overcome these challenges-

Should seek funding from investors- To overcome the problem of lack of resources like funds and capital to introduce the latest technology in the business, the organization should inspire investors and business clients who will invest in the business. The business should raise funds by issuing shareholders and from financial institutions.

Effective leadership skills- by improving leadership skills, fear can vanish and confidence can be built in the employees. The leader should communicate and interact with the teammates and discuss the technologies used in the organization and try to understand if they need any training, etc.

By motivating and providing training- to learn the new technologies and latest innovations, the manager should conduct training sessions and motivate them to focus on the work and inspire them to achieve organizationally