Evolution of Business Report

Evolution of Business Report

Evolution of Business Report

Over the years, diversity, technology, and innovation have become important for improving performance within a company.  Diversity in the workplace is likely to increase because of cultural differences. There is a need to encourage diversity, encourage innovation and improve technology in a company. All these are necessary for enhancing the performance of an organization for gaining profits.

Role of Innovation

Innovation refers to the process of creating a more effective products, process, and ideas. For many organizations, this means implementing new ideas, or improving services. Innovations can an incentive for the success of a business and help the business to grow in the marketplace. Innovation can also be adapting to changes in the environment and changing the business model to deliver better services and products.  Innovation is necessary to process in the business world. Organizations are continuing to improve and change to the market trends (Business, 2016).

There is so much at stake for an organization creating an innovative environment is vital for an organization. Employees at all levels of an organization should encourage innovation and creativity. When employees are motivated to be created, and innovative the organization’s productivity and performance will increase the competitive advantages of companies in the same market. Businesses that are innovative are flexible to changes that will occur in the external environment this will allow the company to react faster and efficient to avoid risks and to capture opportunities in the marketplace that can be profitable (Afie, 2006).

From a manager’s perspective employees who are innovative are more motivated and more involved in the activities in the organization. To improve the environment in the workplace organizations should encourage the employees to be more innovative this will boost job satisfaction. Empowering and encouraging employees to be active in more extensive business innovation will lead to a strong sense of teamwork and community. This will ensure that employees are aware of the strategies in the organization and its goals. Promoting an innovative work environment manager will see value through the increase motivation, creativity, and team work from the bottom up from the employees.

Managers can use the top-down approach, by starting with the big picture by communicating,  sharing decision making, investing, management, and thinking process; with employees the information on performance data and activities of the organization. This will ensure employees will have the support from management. Creativity combined with innovation will also be a great support for the human resource department which is always a concern with employee’s roles and skills in the workplace. There is no innovation without creativity. Creativity is the ability for employees to come up with new ideas where innovation is the implementation of these new ideas. A company that supports and implement new ideas innovation and creativity will fit well into the organization (Guzley, 1994).