Question:
The report shall not exceed 10,000 words and should include relevant examples and illustrations.
Recommended guidelines for learners and assessors:
AC1.1 Learners should evaluate current CIM processes in their own organisation. The evaluation needs to begin with a description so it is clear what is being evaluated. Learners need to draw comparisons with at least one other department/organisation.
For AC1.2, learners need to explain how they led a team to positively embrace innovation in their workplace. If this is not possible, a scenario could be used where learners explain how they would lead. In either case, the explanation needs to include, as a minimum:
• The management and leadership styles that need to be employed with their relative strengths
• Specific influencing and motivating tactics
• Methods of rewarding staff for appropriate behaviours
• A model for effecting change (including the strengths and weaknesses of the model)
• Whether change is transformational or transactional
• Who the stakeholders are and how this would be taken into account
• Perceptions of their audience and methods of communication to use to communicate change.
AC2.1 learners should assess the mission and vision of their own workplace. The recommended classwork for this criterion needs to give the learner enough scope to make comparisons and show evidence of research into other organisations.
For AC2.2, learners need to use analytical tools that are appropriate to the situation. Learners need to identify at least two sustainable ideas.
For AC2.3, in order for learners to show their applied knowledge, the assessment of risks and benefits needs to be based on the ideas generated in AC2.2. At least three risks and three benefits need to be assessed in this process.
AC2.4 needs to be based on the ideas generated in AC2.2. Learners need to use at least two change models that are appropriate for the situation.
For AC3.1, the rationale needs to take into account the interests, views and goals of stakeholder. The main groups of stakeholders need to be identified and their characteristics described.
For AC3.2, learners need to communicate an idea to the stakeholders described in AC3.1. This communication must also show that it will generate the feedback required for AC3.3.
For AC3.3, learners need to establish key goals and targets using feedback from the stakeholder communication activity in AC3.2.
For AC4.1, learners need to assess at least four material barriers that are relevant to the situation.
For AC4.2, the strategy needs to include a clear plan of how to overcome the barriers identified in AC4.1.
For AC4.3, learners need to explain how the strategy plan created for AC4.2 will ensure that innovative change is achieved.
For AC4.4, the strategy needs to be differentiated to the needs of each group of stakeholders. At least five groups of stakeholders need to be identified and the strategy plan created for AC4.2 communicated accordingly.
Answer/Solution:
1.1 Evaluate Current Creative and Innovative Management Processes in an Organization
The selected organisation is the Emirates NBD established in 2007 as a consequence of a merger between the Emirates Bank International (EBI) and the National Bank of Dubai (NBD) (Mitra & Pandey, 2009). Its significant creativity and innovation are evident from the current growth of the company. It is currently a regional consolidation blueprint for the banking and finance sector as a consequence of its consolidation with the second and largest banks in the United Arab Emirates (UAE). In this regard, as opposed to the other Banks in UAE, it is the best and leading bank in terms of creativity and innovation. In this case, the following include the different creative and innovative management strategies adopted by Emirates NBD. The scope of creativity and Innovativeness in Emirates NBD Bank is as shown in figure 1 below;
Figure 1: Emirates NBD Creativity and Innovation
Source: (Alsqqa, 2017)
- Existing Employees
Emirates NBD prioritizes their employees as the primary source of creativity and innovation. As a consequence, they are at all times encouraged to create innovative products beneficial to the organisation progress. One of the approaches that have been used to assist the employees to be creative and innovative is through the provision of good rewards and adherence to a stringent recognition system for ensuring that the members of their organisations are credited for creative and innovative ideas. Also, Emirates NBD exposes their employees in capacity development opportunities reflecting on their core strategies and leveraging on harnessing all areas of creativity and innovation.
- Framework for Customer Satisfaction
From a broader perspective, Ordanini et al. (2011) observed that on the basis of customer feedback and competition data/research organisations gain clarity on products and services being delivered to a specific segment of their customer base. It is in this line that Emirates NBD has set a strategic framework founded on an analysis of a product lifecycle in tandem with customer profiling. For instance, the bank has already carried out detailed research on Islamic banking in gauging how potential clients behave, where they invest their money and best practice in venturing this market in UAE. Currently, the bank has developed a prototype that is based on the principles of Islamic banking which is intended to evaluate the extent in which the bank can leverage from competitive advantage and increasing their overall market share. As shown in figure 2 below, the customer satisfaction framework is based on four levels. These include basic banking requirements, convenience choice and access, recognition and creating loyalty and partnership for financial goal and achievement.
Figure 2: Emirates NBD customer Satisfaction Strategy
Source: Author
- Digitization and being Up-to-date
Emirates NBD is always up-to-date with the latest technology and innovation. One of the most significant modern strategy that the bank has adopted is having branch features convenient banking and payment solutions allowing their clients in carrying out distinct transactions and application of new products with 24/7 operations. Additionally, as noted in GulfNews (2018), through an elaborate focus on being the digital banking leader in the entire UAE and the broader region, Emirates NBD is establishing strategic investments in technologies. This is as an approach in modernizing both their front-end and back-end operations. As a consequence, the bank has transformed into becoming a smart, connected bank within the facets of a smart economy. Additionally, the paperless operation by the bank is equally viewed as a consistent modern philosophy intended in delivering clients with modernized banking experience in complementation to the stringent human elements.
- Ensuring Concept of Quality of Service
According to Martínez-Costa et al. (2009), ISO 9000:2000 quality is a degree of attaining the set characteristics inherent in a product or service in accordance with the customers’ expectations. In the context of Emirates NBD, it has been awarded the ISO 9001 Quality Management System certification by the British Standards Institution (BSI). This is an award that is offered to a bank that has significantly made achievements as a global provider in the management systems assessment and certification solutions.
1.2 Explain How to Lead Others to Positively Embrace Innovation and Change
Innovation is a critical aspect in all entities for survival owing to the increased global competitiveness. This is in line with Cooperrider and Godwin (2011) who noted that most entities are finding it appealing in adopting innovation as it acts as a form of investment. To be successful in innovation and change, contemporary entities must prioritize on their leadership approaches, appreciation of their employees, quality levels adherence and level of interaction with all involved stakeholders.
- Interaction with all Stakeholders
According to Schaltegger and Wagner (2011),…………………………………………………………………………………………………………………………………….Please contact us to receive assistance and guidance on this assessment in entirety
Email adress: rankedtutorials@gmail.com