Leadership on Industry and Innovation

Question: Discuss about theLeadership on Industry and Innovation. Answer: Introduction: For me, leadership is an ever changing concept. Several projects that I have submitted have had a great influence on my leadership definition. I have witnessed leadership models evolve thus influencing my study on business and innovation. In this paper, Im going to discuss my leadership insights as a result of the project I have submitted for this course. Moreover, Im going to discuss how I might change or adapt to my leadership style based on research articles collected and PowerPoint presentations. The essay will conclude by specific context that I might be aware of in future and how this will help me in moving forward. Leadership Insights Gained After Course Submission The project in this course has made me develop the right lenses of innovation in leadership, by embracing change, knowledge, and awareness. My innovative playmates act as the spring board to my ideas. Innovation is an imperative interaction. Otherwise, you tend to become irrelevant to your customers, who are key to business success (Aldrich 2012). Loss of customers is hurtful to business going concern. I have learned that companies miss out on opportunities that fail to fit into their customer satisfaction. Harnessing the power of disruptive change has proved to be a great aspect in capturing the future of a profitable customer. Submission of this project has made me uphold the fact that a good business idea starts by having a great innovative idea. Presently they are many available innovative products and services in the business setting. My course presentation has taught me one can produce a business idea through observation. Precisely this is possible through careful observation of surroundings, business, and the environment. Innovation is the ability to identify problems, gain new insights and find new ways of doing things. For instance, I have observed customers like automated services. Therefore, many businesses in the service industry have developed mobile phone applications whereby customers can order for provision of services at their comfort. This module has been productive and also helped me to develop a good experience in conducting business. I have been able to develop much knowledge and leadership skills in running and setting up profitable business venture. I enjoyed this course since it has granted me leadership skills such time management skill which in future they may helpful. The success of any innovation plan is guaranteed through teamwork as pointed out by Solomon (2014). Through this framework, I have been able to develop a business innovative plan that allows each team player to participate effectively and efficiently in the plan. Presentation of the project in this course has modeled me as a business leader, who derives a sense of customer experiences and subsequently designs them to a business innovative model. Successful business models such as hypothesis testing embrace uncertainty, which is essential for business leadership. Presently, I can communicate my understanding to my business associates by using complex and intangible concepts. In future, I will use tools to make sense of the experiences inherent to a consumer and add them to my future business and problem, solving processes. Amit and Zott (2012) stated that carrying out customer development surveys and interviews have provided great insights towards validation of a hypothesis. Evaluating the market early will serve a great deal in finding what customers are willing to pay and the actual benefit they derive from it (Ryan 2013). Moreover, I have learned that hypothesis can aid the business entity to come up with an innovative plan such as value ch ain analysis, mind maps, and Gantt chart diagrams. Learning this course has made me realize that future business model can be predicted by use of innovative business models. To articulate assumptions and subsequently test their viability in future, the V-D-S-D model is a genius tool towards its applicability (Loorbach Wijsman 2013, p. 4). My innovative leadership skills have aided me in articulating assumptions, testing them and also carry data analysis in my presentation of this course. Aside from the creation of business models, learning this course have made me improve my presentations skills. A business leader ought to have perfect presentations skills so that he/she can be able to articulate his assertion to his/her, clients (Bresciani et al. 2013, p. 78). Moreover, I have been able to use this business skill to sell my business ideas. Additionally, with the limited time one is given to present a business idea, I have innovatively learned on how to carefully pick the only important information by making it short, simple and well put. For presentation and subsequently pitching a business idea, its very important to excite potential investors with the idea. However, I realized that for my idea to sell, I have to be reasonable, realistic and also responsible for the financial projections inherent to the business. This project submission has made me realize time management is an important aspect when carrying market research. Earlier I had been trying to improve on time management. On the contrary, this module has enlightened me on how carrying out market research and data analysis can be time-consuming especially when conducting the feasibility study. Therefore I have learned on prioritizing my workload, and also I have learned some innovative project management tools such as the critical path method. Usage of this project management tools has helped to have a well-defined schedule for project activities. Other courses such as education and pedagogy have made me believe that transformational and transactional leadership theories are the drivers of innovation. Im in constant learning and subsequently growing into the leader I envision to be. Pedagogy course has given me an insight on how transformational leadership works (Sutherland 2013). This leadership theory focuses on the culture and other people learning experiences. Moreover, I have learned that the goal of the theory is to transform values of followers thus motivating them to work better beyond the stipulated expectations. Many organizations are using this theory to support innovation in their management systems. In my pedagogy course, I have realized that transactional leadership focuses on rewards exchange for compliance. Moreover, Im able to understand that transactional leadership is task oriented, and rewards are anticipated for group or individual performance. Adapting My Leadership Style in the Light of the Research Articles Collected Presentation of business and innovation course has made me change my leadership perceptions. I have learned that as a leader I need to empower other people through encouragement and provision of right tools as pointed out by Achtenhagen et al. (2013). Besides, I need to create a vision which includes everyone to take ownership individually and collectively. After learning this course, I have started to admit my shortcomings such as time management. Presently, Im able to utilize my time well by having a work schedule plan for all the day activities. On the other hand, I have changed my perceptions towards leadership theories such as transactional and transformative leadership theories. Using the two theories have made me accomplish my future leadership goals which are measurable, realistic and specific. Although both theories are applicable in my course I have view transformational theory is the ideal theory promoted by my course. This theory supposes that transformational leaders seek new ways of doing things. Johnstone and Marshall (2016) stated that business innovation is congruent with business and innovation. Additionally, I have gained an insight that innovative and transformative leaders do not react to circumstances, they attempt to shape and create new ideas. I will use transformational theories by investing into innovation thus ensuring business success. Specific Situations I Might be Aware in Future. Business analysts time and again have stated that customer is the key towards business success. Studying this module have made me realize in future, leadership skills need to be incorporated together with innovation plans thus making it easier to attract the target customer(Rothaermel 2015). I have to talk with customers and find out what satisfy them to the fullest. By use of innovative skills, I can be able to engage customers in value propositioning canvas and also ensure we have an emphatic listening session as denoted by Camisn and Villar-Lpez (2014). Through this Im able to understand specific customer needs, thus ensuring a business entity is a going concern. Creation of a hypothesis will be a future innovative leadership skill that many businesses have employed to identify the needs of their customers. The hypothesis is created to know the reaction of a customer following a business change (Porter-O'Grady and Malloch 2014). Following a change in the pricing policy, a business enterprise would wish to identify the reaction of customers following a change. Previously, in this course, I have used tools such as Journey mapping when identifying consumers reaction, and this will help the business move forward. Conclusion Usage of innovative business models such as value chain analysis, mind maps, and Gantt chart diagram in my project have inculcated business leadership qualities in me. Also. This project presentation has made me learn that evaluating the market early will serve a great deal in finding what customers are willing to pay and the actual benefit they derive from it. Moreover, this project presentation has helped me realize that companies miss out on opportunities that fall into their customer satisfaction. Furthermore, learning this project presentation has made me improve my presentations skills. It enhanced my understanding that, a business leader ought to have perfect presentations skills so that he/she can be able to articulate his assertion to his/her, clients. Besides, I have cherished the fact that as a leader I need to empower other people through encouragement, provision of right tools. As a leader, I have gained new insight that transformational leadership model is best suited f or business and innovation a fact well versed in my project submission. List of References Aldrich, H, 2012, The emergence of entrepreneurship as an academic field: A personal essay on institutional entrepreneurship,Research Policy,41(7), pp.1240-1248. Achtenhagen, L, Melin, L, Naldi, L, 2013, Dynamics of business modelsstrategizing, critical capabilities and activities for sustained value creation,Long range planning,46(6), pp.427-442. Amit, R, Zott, C, 2012, Creating value through business model innovation,MIT Sloan Management Review,53(3), p.41. Bresciani, S, Thrassou, A, Vrontis, D, 2013, Change through innovation in family businesses: evidence from an Italian sample,World Review of Entrepreneurship, Management and Sustainable Development 4,9(2), pp.195-215. Camisn, C, Villar-Lpez, A, 2014, Organizational innovation as an enabler of technological innovation capabilities and firm performance,Journal of Business Research,67(1), pp.2891-2902. Johnston, M.W, Marshall, W, 2016,Sales force management: Leadership, innovation, technology. Routledge. Loorbach, D. and Wijsman, K., 2013, Business transition management: exploring a new role for business in sustainability transitions.Journal of Cleaner Production,45, pp.20-28. Porter-O'Grady, T, Malloch, K, 2014,Quantum leadership. Jones Bartlett Publishers. Ryan, B., 2013. A walk down the red carpet: students as producers of digital video-based knowledge.International Journal of Technology Enhanced Learning,5(1), pp.24-41. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill. Solomon, M.R., 2014.Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall. Sutherland, I., 2013. Arts-based methods in leadership development: Affording aesthetic workspaces, reflexivity and memories with momentum.Management Learning,44(1), pp.25-43.