Business Model Innovation in PracticeNameInstitutionInstructorCourseDate Business Model Innovation in PracticeThe Challenge of Implementing Innovations within Organizations That Are Naturally Resistant To ChangeInnovations are important in giving a competitive advantage to organizations and are part of successful companies (Griffin & Cengage Learning, 2017).
However, some organizations are resistant to change which makes it a challenge in implementing innovations in the organizations. These organizations will not benefit from the benefits of new practices, which increase the effectiveness of programs and processes (Griffin & Cengage Learning, 2017). An organization which is resistant to change will face barriers in the process of implementing change as there will be no corporation between the organization’s members which is important in achieving an organization’s goals (Griffin & Cengage Learning, 2017). Employees also become comfortable with the normal operations of an organization and a change will affect their morale and attitudes and may disrupt the effectiveness of the organizational processes (Griffin & Cengage Learning, 2017). 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 InnovationsThe five-step approach by Euchner & Ganguly meant for integrating innovations to increase the likelihood of acceptance and success helps organizations in capturing the value from innovation (Euchner & Ganguly, 2014).
Planning which is a management function can be leveraged within the business model in the process of reducing risks by carrying out experiments before integrating an innovation program into an organization (Euchner & Ganguly, 2014). Planning is important as it helps in identifying the potential value creation and how the integration process will be implemented. Organizing is also an important function, which can be leveraged within the business model as it plays an important role in enabling an effective innovative business model (Euchner & Ganguly, 2014). Organizing helps each process of the business model in achieving the determined objectives before the implementation of the next process. Leading which is also a function of management is crucial in providing direction to an organization in the implementation of the business model (Euchner & Ganguly, 2014). Leading will create sustainable relationships, which are important in having co-innovators who will ensure an effective integration of the business model into the organization. Controlling function is important in prioritizing any potential risks and identifying variables which are expected to have a huge impact on the organization, which can determine whether the business model will be successful, or not (Euchner & Ganguly, 2014).
ReferencesEuchner, J., & Ganguly, A. (2014). Business Model Innovation in Practice. Research Technology Management. 57.
33-39. 10.5437/08956308X5706013.Griffin, R. W.
, & Cengage Learning. (2017). Management.
Boston: Cengage Learning.