Task #3 Date: 11MAY2021 There are many reasons that an Entrepreneurial organization would strive to be innovative. Most of these reasons deal with the adage that if you do not adapt you perish. Meaning that businesses must always look for ways they can improve, stay on the forefront, or gain market share. If we are always looking to become innovative, stay innovative, etc. then our organization should in theory continue to flourish. One of the key reasons that an organization would want to be innovative is to be able to solve complex problems and challenges. Organizations want to be seen as the solution to problems in people’s lives. Can the organization make someone’s quality of life better, easier, more efficient? Organizations that can find creative ways to be innovative will be the company that people look to when it comes to how we improve our lives. Those companies that are innovative also want to continue to be innovative to deal with Lean and Six Sigma methodologies. There is not a single organization in existence that has not at some point experienced some difficult times. By adopting lean strategies organizations can make these times more manageable due to the value that they bring to the customers. All organizations fall into a particular industry and they are not the only ones in that industry. An organization would want to be innovative so that they can stand apart from their competitors. For example, let’s say an organization manufactures shoes. Numerous companies manufacture shoes, and then organization must find a way to stand out from all that competition. This can be accomplished through innovation. Organizations are always looking to find the best and most talented individuals to be a part of the team. The best and brightest want and actively seek out the innovative companies and work for them. If you are company that does not have a history of innovation, then you are not going to attract the employee that will create the next big innovation. Innovative employees want to be challenged, so a culture of innovation must be present. In doing this it will also have a waterfall effect of thereby making the organization more innovative which will attract more innovative employees. This also has the added benefit of separating an organization from it’s competitors in the market or industry. It is not uncommon for organizations to work to keep the status quo. The status quo worked for how ever long so it should become a maintenance of the current state of the organization for it to keep going. In reality, it will only work for so long. An organization must be innovative if they want to keep the business running. Innovative risks need to be taken so that everyone can reap the benefits and rewards.

Task 3 - Assignment

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