ABC Corporation is a fitness centre that has been in the business for 5 years. It employs 10 staff and has 120 subscribers. Due to COVID-19 restrictions, its monthly income lowered by at least $10,000 per month. 

Assume that you have just been hired as the new Innovation Manager of ABC Corporation. In this task, you are required to develop an Annual Innovation Review of the organisation. Its goal in 2022 is to lower its operational expense by $5,000 and ensure productive sessions with subscribers. 

In your Annual Innovation Review, you need to research and review at least one (1) of the organisation's trend relating to its current thinking and practice and discuss how you can support and sustain it in the next 5 years as Innovation Manager. Please use the template provided.

1. Read the case study above and complete the task that follow. 

Supporting the culture of innovation

Innovative practices, processes, products and/or services according to audience and organisational requirements

 

 

 

 

 

Ways to capture, communicate and share innovative ideas and practices

 

 

 

 

 

Team approaches foster communication, consultation and team development for innovation

 

 

 

 

 

Relevant resources for innovation processes

 

 

 

 

Strategies to foster a workplace culture that encourages innovation

 

 

 

 

Systems and processes that support innovation

 

 

 

 

 

Sustaining innovative thinking and practice

Strategies where innovation is an integral part of organisational activity

 

 

 

 

 

Processes to undertake that will confirm ongoing awareness of individual and collective contributions to innovative thinking and practice

 

 

 

 

 

 

Potential barriers and risks to innovation and devise strategies to respond

 

 

 

 

Innovation performance as a basis for developing strategies for improvement

 

 

 

 

Feedback from relevant stakeholders

 

 

 

 

 

Changes to innovative thinking and practices according to feedback received