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Innovation & Entrepreneurship

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Introduction

EXECUTIVE SUMMARY In business sector around the world, innovation idea is seen as the key brand differentiating factor with the ability to generating new brand and create a whole new market or to transform an industry, whereas the acts of entrepreneurship is often associated with true uncertainty especially when it involves bringing something new to the business. Nevertheless, in today 21st century, innovators and entrepreneurs are the engines of any organisation within a competitive business environment. Given the pace of change in today's working place, the ability to constantly question and refresh what to do - innovate - is an integral part of a long tern survival. If businesses as well as not-for-profit enterprises want to remain relevant for their client/supporter, they need to update their products and services to keep in line with the influx of new ideas and information that are characteristic of this era. Innovation and entrepreneurship in Centrepoint explores the struggles of homelessness charities in fostering innovative activities to eradicate this growing phenomenon within young people aged 15 to 25, and identifies the key business lessons for this sector in expansion, thus in need of a dynamic change. Innovation will provide a specific analysis of the innovation process, explaining why it is important, how it can be incorporated in the organisation's culture and what barriers are likely to be. The lines bellow explain an in depth analysis of centrepoint strategy which is to encourage innovation and entrepreneurship within its employees, developing therefore various services to a local level, including the added value of the charity sector in their delivery as well as providing effective and better services to vulnerable young people. This piece of work demonstrates how essential is to have and encourage creativity and entrepreneurship within an organisation workforce. It will also appeal to supporters and community development organisations seeking new perspectives on today's fierce competitive business environment and entrepreneurship in homelessness enterprises. ...read more.

Middle

INNOVATION PROCESS Creative Environment & Generation of Innovative Ideas "For those working in the public sector, there is less pressure to adapt and generate new ideas" (N, Wilson & C, Gurling 2007). Centrepoint has a culture of continually praise personal initiative and innovative employees as well as encouraging values that support targeted behaviours and activities: this fosters a work atmospher in which everyone can express their idea, resulting to staff working harder and feeling proud. Managers' role within Centrepoint is to create an environment where staff can express themselves in the objective to succeed. Nevertheless this does not mean that the organisation is control free because of the liberty it allows its staff to have in terms of creativity. Within the charity, all employees are accountable; managers are encourage to involve their employees in there own creative process by soliciting their inputs in the work they produce. The company vows to back people from whom project ideas come from should the project takes off, creating a space where innovation can take place. This backing is within the organisation bounderies in term of funding. Mostly, these projects are not beyong the organisation capabilities in terms of financial and technical supports. Because of this climate and my struggle to meet targets, I asked myself why does the company lack a basic electronic document and record management facilities? I came up with the idea to create an e-filing folder that will facilitate my tasks as an administrator as well as saving the organisation costs in paper, photocopies etc... The first action taken was as always to share my idea with my immediate colleagues, then sent a group email to administrators and other staff within the other departments of Centrepoint in order to have their point of view on the subject and finally to my manager during our one to one meeting. Presenting the Idea "The ability to innovate can provide vital advantages for an entrepreneurial organisation" (D, Rae 2007) ...read more.

Conclusion

This process will also help us to better convey our ideas in a convincing way while pitching. CONCLUSION All organisations need to innovate in the context of their business. In summary, innovation is vital for the survival of Centrepoint as well as being the engine for its progress; change should start with senior staff who should take ownership of problems. Employees who are given the liberty to experiment innovation are usually associated with its process and the development of new products and services. Innovation and entrepreneurship concepts work together and are difficult to dissociate. Organisations such as centrepoint need workers with entrepreneurship skills in order to recognise and act to exploit opportunities that could arise and bring novelty to the way services are provide to either clients or partners. Being of a flat structure, Centrepoint benefits from the organisation willingness to promote entrepreneurship concept within its workforce, because it can function as a means of overcoming aspects of bureaucracy that could impede innovation, allowing the company to remain creative. Moreover, entrepreneurship skills within the organisation workforce can remedy the loss of challenging and rewarding jobs, which lead to greater job satisfaction, productivity and efficiency. The objective of this concept is to develop a transparent, structured, and reproducible process to select the right innovative project in terms of technical objectives for funding. Based on the special needs of the homelessness industry, proposals are compared to set predefined top level requirements. But does innovation can truly be managed within organisations? RECOMMENDATIONS Although innovation is the element of progress within Centrepoint, relying solely on internal innovation would sputter the mechanism. The sensible approach should be the connection with external sources of new ideas, and then develop those ideas into profitable new or refined products that will benefit the organisation as a whole, improving both productivity and job satisfaction within its workforce on one hand, and delivering a better and efficient service to customers, clients and partners on the other. ...read more.

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