I’m working on a business discussion question and need an explanation to help me learn.
The quality of leadership is quite critical to a business enterprise (Honeyman, 1982). It is because the performance of a business entity depends heavily on the skill set and experience of a leader to manage and control the employees, the business processes and perform negotiation with stakeholders. Apart from this, the leader is also responsible for encouraging employees for productivity improvement and personal growth. In this direction, the leader can motivate an individual to develop innovative products and services which can enhance the organization’s ability to compete in market competition. Further, the leader is also responsible for establishing a healthy and prosperous working relationship among employees by establishing effective communication, which is translated into the organizational culture. Discussing this, it is evident that certain leadership behavior can improve and sustain an individual or a group’s performance in a positive manner. For example, a servant leadership style can equip employees with knowledge and skillsets by sharing knowledge, where a democratic leadership style can promote group discussion for generating ideas through brainstorming. An autocratic leadership style can give inefficiency by redefining roles and responsibilities. Therefore the leadership behavior can be correlated with the performance of the organization and its employees.
Product and process innovation are critical for a business entity to differentiate itself from the market competition (Fritsch & Meschede, 2001). product innovation implies the design and development of a product or service that is distinguishable from others in terms of cost, physical properties, performance quality, and other factors. Product innovation at times to fulfill the necessities of a customer by market survey. The purpose of product innovation is to attract customers and improve market share. Process innovation employees change processes to improve performance metrics such as cost, quality, time, and variety. Process innovation simply intends to change the manner in which a product is manufactured to reduce cost and increase the efficiency of the manufacturing unit. It must be noted that process innovation does not intend to change the product but rather how the product is made.
Fritsch, M., & Meschede, M. (2001). Product innovation, process innovation, and size. Review of Industrial Organization, 19(3), 335-350.
Honeyman, K. (1982). Origins of enterprise: Business leadership in the industrial revolution. Manchester University Press.
Organizational performance is the fifth aspect of the model, reflect on the question, do certain leadership behaviors improve and sustain performance at the individual, group, and organizational level? Please explain your response.
Organizational performance relies majorly on the skill level of leaders, most specifically when it comes to strategy adoption. How leaders behave is directly related to one person, group, and organizational performance. Actualizing organizational objectives comes with many hindrances making it vital for leaders to be flexible in their issues with people, groups, and the entire organization. Also, organizational performance relies on employees who are an important component of any organization and create the team in charge of actualizing organizational objectives. The organization can achieve the desired strategy or vision by communicating the ideas with employees. A good leader should have social, cognitive, and emotional intelligence (Learmonth & Morrell, 2017).
There were two types of innovation addressed this week (product and process innovation), please note your own personal definition of these concepts and offer an example of both.
Innovation refers to the process of developing good and new ideas and ensuring they work technically and commercially. There are two types of innovation which include product innovation and process innovation. Product innovation brings a new or relatively improved service or good concerning its characteristics or expected use. It consists of important enhancement in technical requirements, components, materials, integrated software, user-friendliness, or other operational features. For example, the first electric cars given to the market were innovation and the latest batteries with larger ranges (Spector, 2016).
On the other hand, process innovation adopts new or relatively improved production or delivery technique. It integrates relative changes in management practice, techniques, software, or equipment. For example, a groundbreaking was when Henry Ford came up with the first moving assembly line. The changes shortened the required time to offer a single vehicle from 11 hours to 80 minutes (Spector, 2016).
Learmonth, M., & Morrell, K. (2017). Is critical leadership studies ‘critical’?. Leadership, 13(3), 257-271.
Spector, B. A. (2016). Carlyle, Freud, and the great man theory more fully considered. Leadership, 12(2), 250-260.