Answer To: Microsoft Word - MGT803 Assessment 2 Marking Rubric 2018 MGT808 RESPONSIBLE LEADERSHIP ASSESSMENT 2:...
Aanchal answered on Oct 22 2021
TITLE OF THE ASSIGNMENT (Should not be more than 50 characters including space)
(
1
)Running Head: POLICY MEMO
POLICY MEMO (
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POLICY MEMO FOR QANTAS AIRWAYS
Table of Contents
Executive Summary 3
Introduction 4
Defining Planning and Innovation 4
Key Benefits of Planning and Innovation to Qantas Airways 5
Planning 5
Innovation 5
Planning, Innovation and Leadership within Qantas Airways 5
Role of Leaders in Planning and Innovation at Qantas Airways 6
Key Planning and Innovation Challenges Faced by Qantas Airways and Leaders 7
Challenges faced in planning 7
Challenges faced in innovation 7
Leadership Strategies to be implemented in Strategic Planning and Innovation 8
Findings 9
Conclusion 10
Recommendations 10
References 12
Executive Summary
This report on the policy memo of Qantas Airways brings into light the key challenges that an organisation and its leaders face while incorporating the concepts of strategic planning and innovation into their business for the purpose of goal achievement and gaining competitive advantage in terms of planning, adopting and implementing innovative products, services, processes and activities into the scale of business operations.
Planning is an important and first function of management. It is the road map that guides and leads the organisation and its leaders to undertake those set of activities that relate to the production of goods and services within the firm. Innovation is the tool that helps the organisation to stay updated with the turbulent business environment that is present in the form of micro and macro environment.
An organisation and its leaders face various challenges while planning the set of activities to be performed in an organisation and a little more at the time of bringing the concept of innovation in its existing business processes, activities, products and services, in front of its related stakeholders who are present in the form of owners, shareholders, management, employees, customers, suppliers and the government.
The possible ways to overcome such challenges and implement strategic planning and innovation in the business processes and activities of the organisation are to adopt certain leadership strategies that will help the leaders as well as the organisations to get through it.
Introduction
This report on policy memo of Qantas Airways will include an analysis of the key planning and innovation challenges faced by the business organisations and leaders while performing their day-to-day business operations in the organisation. Planning is an important aspect before the organisation starts off with implementation of its strategies, actions, processes, activities and operations, whereas, innovation is an important concept and strategy to be adopted by the business organisations to deal with the turbulent business environment to stay competitive. Thus, the potential responsible leadership strategies that could be incorporated into strategic planning and change for the organisation have been discussed further in this report.
Defining Planning and Innovation
Planning involves a setup, framework, or blueprint of an idea that is drafted with the objective of achieving the set goals. It strategies the way an end result will be achieved. The concept of planning enables an organisation to decide and prepare in advance the structure of all those activities that the organisation intends to undertake for the goal achievement. Each course of action within the organisation requires be planning first and then implementing (Bock, Eisengerich, Sharapov & George, 2015). Innovation is the process, through which the organisations convert certain ideas and creativity into an improved and better version of the existing product, services, processes or activities.
It implies making the existing product, services or business activity more beneficial to the organisation as it has something valuable to offer its customers and clients, which results in the competitive advantage. The most important aspect of innovation is creativity. A creative idea that comes into the mind of an individual acts an input of the innovation process that can be converted into the desired output in the form of innovative products and services, re-engineered business processes and activities and adoption and implementation of new tools and techniques.
Key Benefits of Planning and Innovation to Qantas Airways
Planning
· Organisations become proactive rather than reactive to face the upcoming situations;
· Provides a direction to the organisation on the performance of activities within;
· Provides a road map to improve the efficiency of the organisation;
· Prepares the business for future outcomes;
· Helps to know the organisation in advance the pre-requisites of undertaking activities;
· Planning even encourages innovation within the organisation.
Innovation
· Improved productivity combined with reduced costs and wastage;
· Enhanced quality of products, services and processes;
· Value addition resulting in competitive advantage to the firm
· Increased sales of the products and services;
· Increased customer satisfaction;
· Improved position in the market, thus, larger market share;
Planning, Innovation and Leadership within Qantas Airways
The concept of planning, innovation and leadership go hand in hand with each other with the context of an organisation. In general, planning is the process that involves setting the...