Discuss the role that transformational leaders play in encouraging innovation within an organisation
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Q.1.3 Discuss the role that transformational leaders play in encouraging innovation within
an organisation.
Senior leaders must adopt the mindset, attitudes, and behaviors associated with a change in the pursuit of innovation in order for that kind of transformation to take place. And that's major but since statistics show that transactional thinking is still pervasively present in far too many leadership methods.
Innovation refers to two primary strategies: object-based, which emphasizes the innovation itself, and subject-based, which emphasizes the subjects such as nations, companies, organizations, and groups that begin and put innovations into practice. The definition of organizational innovation is the development of novel, significant, and practical goods or services within an organization.
Step by step
Solved in 2 steps
