MBA 580 5-1 Sample File

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Southern New Hampshire University *

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MBA580

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Business

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Feb 20, 2024

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5-1 Report: Process for Managing Innovation John Doe Southern New Hampshire University (SNHU MBA-580-Q1759 Innov/Strat High-Perform Orgs Professor: X 1/1/2030

5-1 Report: Process for Managing Innovation 2 Managing Innovation: All organizations need a process that can take its ideas from inception to product implementation. Many innovative processes can be incorporated based on the goals of an organization. The importance of a company's capability to remain innovative allows the company to incorporate new products better while addressing customer needs to increase its market share. The stage-gate, agile, lean, and discover-iterate-pivot strategies are the strategies that our company must fully understand to allow our company to choose the process that best suits our company’s vision as well as allow us to meet the continuous changes and demands found in the autonomous auto-industry. Stage-gate: The Stage-Gate process is a structured 5 stage approach that guides a project from inception(idea) to product launch. The 5 stages within the process are designed so that each stage is intended to gain buy-in and understanding from stakeholders to ensure the project can proceed to the next phase for success (Asana, 2023). Agile: The agile process is a collaborative approach in which a company can think about and structure its product development cycle (Scaled Agile, Inc., 2023). Agile Innovation methodology incorporates all departments within a company to ensure the primary focus is on the commitment to innovation to increase growth within the product development cycle. Within the agile framework, there is a reliance on continuous feedback, improvements, and adaptations to ensure the collaborative teams can promptly respond and adapt to constant market changes and ensure customer needs are met. Lean: The lean innovation framework primarily focuses on efficiency methods through customer feedback to minimize as much waste as possible in the early stages of the product

5-1 Report: Process for Managing Innovation 3 development cycle. Within the lean framework it prioritizes and encourages experimentation instead of long-drawn-out planning methodologies and places a higher emphasis on incremental as well as continuous improvements throughout the product cycle ( Joubert, 2023). Discover-iterate-pivot : The discover-iterate-pivot process is one that is usually found within startups and entrepreneurial environments (Cummings (2011). This innovation process places a high emphasis on experimenting while allowing for continuous learning and adaptations. The process begins with an initial idea. It involves starting with an initial idea, experimenting with the idea, gathering as well as analyzing feedback to look to improve the innovation process. Within the process a company can decide to pivot or change its innovative process strategy. Innovative process recommendation: Based on the provided information, the most suitable process is going to be agile. Agile is a team-based methodology that can better allow the company to constantly adapt to the ever-changing business circumstances and conditions within the auto-industry. The Agile Innovation Process will address these changes by simplifying projects into more manageable tasks. These tasks will be consistently reviewed to assess and adapt the most efficient ways of completing each task while accounting for market demand both internally and externally. Cross-functional team effectiveness: In our industry we must understand the importance of effectively selecting cross- functional teams to ensure we are able to achieve success within the organization. The cross- functional team will be comprised of employees from different departments/functional areas to

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5-1 Report: Process for Managing Innovation 4 work as a team to continuously work towards accomplishing a common goal. Cross- functional teams can fail if there aren’t clearly defined tasks and responsibilities established for the team (Scaled Agile, Inc., 2023). To ensure the success of the team we must methodically outline expectations of the team to ensure there is increased efficiency, no duplication of efforts, clear deadlines, and defined roles within the teams. Roles in Cross-Functional Agile Teams will consist of 8-10 team members, a product owner and the scrum master who is also referred to as the team leader. The Product Owner (PO) ensures the team is aligned with the organizations vision, roadmap and prioritizes the teams work throughout the product innovation process (Scaled Agile, Inc., 2023) to the Vision and roadmap and works with the team to define Stories and prioritize the team’s work. The Scrum Master will aid with implementation and maintaining agile best practices. Throughout the implementation, the scrum master will recommend optimizations, increase team performance optimizes and improves team performance while partnering with the Release Train Engineers (RTE) to guide improvements throughout the entire process (Scaled Agile, Inc., 2023) Each stage of the project will be assigned a stretch goal that will be broken down into problem solving cycles also known as sprints to accomplish the goals. To ensure success and goals are reached, there will be a review meeting each day to define progression and review the results of the items completed from the previous day. The results provided after each review will continuously provide feedback and data to continue to better allow the sprints to forward. Throughout the Agile process it is imperative that the ideas go through a speed-up cycle as each cycle will have experimentations and learning opportunities. As there will be failure throughout the process, the failures will be learning opportunities to ensure the project continues to move forward.

5-1 Report: Process for Managing Innovation 5 Stakeholder Concerns: Two departments that will be instrumental with the Agile process will be the Directors of finance and research and development (R&D). There will be added costs for the company developing or implementing new products and the finance director will need to continuously review these expenses. To meet the additional expectation through the innovation process, the finance department will need to shift to an agile mindset as well. Finance decisions are usually accompanied with lengthy processes, but throughout the Agile process the decisions will need to be completed in shorter timeframes to increase the rate of decision making based smaller parts that can be completed in a short timeframe, allowing the organization to increase the rate at which decisions are made to meet the market demand. Throughout the entire Agile process there will be increased competition in the autonomous auto industry over the next few years. To ensure we are maintaining as well as increasing our market share, years, the research and development department will need to expedite its processes to ensure we can reach our incremental goals. In conclusion, as we have discussed previously, the success of Agile innovation is based on adopting an all-inclusive process that allows ideas to be fielded throughout the organization from all levels which also includes internal and external ideas. The Agile innovation process will allow innovations to be heard and better allow the company to be successful in the company’s future autonomous vehicle developments through a formalized process to cultivate these new ideas.

5-1 Report: Process for Managing Innovation 6 References: Asana, T. (2023, May 31). Stage Gate Process: Prevent Project Risk w/ Template [2023] • Asana. Asana . https://asana.com/resources/stage-gate-process Cummings, D. (2011, August 30). Pivoting and Iterating in Startups are Different Things . David Cummings on Startups. https://davidcummings.org/2011/08/29/pivoting-and-iterating-in- startups-are-different-things/ (Cummings (2011) Joubert, S. (2023, August 31). Lean Innovation: What it is and How it Can Impact Your Business . Graduate Blog. https://graduate.northeastern.edu/resources/what-is-lean- innovation-and-why-use-it/#:~:text=Lean%20innovation%20is%20focused%20on,and %20celebrates%20continuous%2C%20incremental%20improvement .

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MBA 580 5-1 Sample File

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