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Lead innovative thinking and practice

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Task 1: Develop a Project Plan

1. Introduction

Procter & Gamble (P&G) is a multinational manufacturing company that operates its business in Australia as well. The company’s revenue is increasing over the years and because of that reason, the company is trying to expand its business operations. Moreover, it is also important for the company to analyze its financial performance to increase its business operations. There are different innovative techniques that can be implemented in the company to project a proper business plan. Key four innovation methods are “Collaboration, ideation, Implementation, and Value Creation”. Collaboration is the initial factor of the innovative thinking process which helps the company to start the manufacturing process of a new product. This report discussed the innovation method and techniques while developing a new product.

2. Body

Project Plan for the new line of hair care products of Procter and Gamble (P&G)

Giving the solution to problems is the main purpose of the product and it can help the company to increase its customer base as well as increase its profitability factor. Other than that, Procter & Gamble (P&G) is trying to increase its market cap, and developing a new range of products is also a potential factor for launching a new product in the Australian market (Productplan, 2022). Furthermore, Procter & Gamble (P&G) company is reducing their young customers and it's affecting the financial piston of the organization, by developing a new range of products that can help the company to increase its competitive advantages in the Australian market. Lastly, Procter & Gamble (P&G) is targeting a new market share and selling more products in the Australian market. These are the potential purposes for launching a new line of hair care products in the Australian market.

The project plan is developed to understand the current functionality of the new product and the aim of the company regarding the new line of hair care products. The project plan will cover the Scope management process that will be used in the company while developing a new product. Quality management and Risk assessment will also be done by a project plan and it may influence the new line of products that is launched by Procter & Gamble (P&G) company (Team, 2021). Other than that, innovation models and theories will be discussed in the project plan. Lastly, project plans help the company Procter & Gamble (P&G) regarding Schedule management.

Procter & Gamble (P&G) can use the Radical Innovation method in their new product which basically develops the technical aspect of the product. “Meta-Learning Concept” can be used by Procter & Gamble (P&G) company and it can have the ability to analyze the new product. Innovation thinking medals have also been used in the project plan regarding developing a new product for Australia Market. Lastly, Black box models are also being used in the project plan to increase the innovation procedure for Procter & Gamble (P&G) company (Guidotti et al. 2018).

According to Clifton, 2022, 2 types of innovation drivers are implemented in the company while developing the new line hire product for Procter & Gamble (P&G) company. “Inventors, entrepreneurs, and extreme innovation”, these three drivers have been used in the project plan (Hervás-Oliver et al. 2021).

 Radical Innovation method

Sustaining Innovation techniques

and Meta-Learning Concepts

 “Meta-Learning Concept” can be used by Procter & Gamble (P&G) company. Other than that, in this report, different innovation theories have been discussed which can help the company during the new product development. Procter & Gamble (P&G) can use the Radical Innovation method in their new product which basically develops the technical aspect of the product (Laurent, 2021). Sustaining innovation technique basically makes sufficient improvements to a product that aims to sustain its position in the existing market.

Table 1: Project Plan

(Source: Created by the Learner)

Concussion

P&G is introducing a new hairline product and it has the ability to increase its profit margin. Procter & Gamble (P&G) can use the Radical Innovation method in their new product which basically develops the technical aspect of the product. Other than that, this technique can break down the existing market and create a new market for the product. Lastly, Procter & Gamble (P&G) can implement Sustaining Innovation techniques in their company while launching a new product. Procter & Gamble (P&G) is already running their business in Australia and this technique can help the company to retain its old and existing customers. Procter & Gamble (P&G) is operating their business in Australia and they are making beauty products for every type of customer. This report basically developed a project plan to increase the company’s productivity and efficiency regarding the new hairline product. After analyzing the company’s project plan, it can be concluded that Procter & Gamble (P&G) can increase its profitability factor by implementing innovative thinking techniques. Other than that, Procter & Gamble (P&G) is also applying innovation theories to the company in their business operations.

Task 2: Leadership Analysis

Question 1: Leadership style

Procter & Gamble (P&G) is a reputed beauty product manufacturing company. However, Company is generating more profit from selling fabric and home care products. Procter & Gamble (P&G) generated a 33% sales margin from fabric and home care products. On the contrary, beauty products are generating only a 19% sales margin which needs to be fixed by developing leadership styles. Procter & Gamble (P&G) company can develop a “Democratic Leadership style” in the business operations and it is the most useful leadership style that can help the company to develop its financial performance (Dyczkowska & Dyczkowski, 2018). Democratic leadership is generally a process that breaks decisions democratically. Wavy other individuals in the organization can plan to deliver their thoughts regarding the decision and it is the most appropriate leadership style that Procter & Gamble (P&G) can implement in their organization.

Question 2

As a project manager and business plan developer it is important to have a leadership quality that can be implemented by developing a leadership style in the thought process. “Democratic Leadership style” is the most appropriate leadership style that can be implemented in Procter & Gamble (P&G) Company. I think I have a democratic leadership style and it can help the organization build its leadership management (Cherian & Gaikar, 2020). Democratic leadership is basically a process of decision making and it gives the opportunity to every team member to submit their point of view regarding a particular decision. Breaking the decision can be an easy and effective way to conclude it and a good leader needs to analyze their team members while making the decision. According to the concept and through the process I believe in teamwork and this leadership style gives the opportunity to work as a team while making the decision.

Question 3

Three types of strategies that can be used by the Procter & Gamble (P&G) Company to develop a leadership style to model positive, innovative thinking and practices. “Developing Situational Awareness” can be implemented in a leadership style to positive thinking. Developing a situational strategy is important for a company while launching a new line of products. There are plenty of issues that can be resolved by making last-minute improvements and it comes under the development situational awareness strategy. “Practice Mindfulness”, strategy can also be developed in the business operation and it can help the company while making decision making. Democratic leadership is basically a process of decision making and it gives the opportunity to every team member to submit their point of view regarding a particular decision. Lastly, “Developing the Communicational skills” can be used in the leadership style to innovate thinking and practice (Forbes, 2022). Innovation thinking is teamwork and it needs proper communication which needs to be developed in the leadership style and it can increase the innovation framework for the organization.

Question 4

“Developing self-awareness” can be the best way to identify the leadership process and style. Other than that, the “decision-making process” can also be a potential strategy to review the leadership practice in relation to modeling and supporting innovation (Lollydaskal, 2022). “Mock Modeling strategy” is also applicable to verify the thought process of the leaders and it can analyze the leaders’ capability and style as well.

Task 3: Promotional Plan

Promotional Plan

Jon R. Moeller

Promotional strategies

Justification

  1. Direct Marketing

Procter & Gamble (P&G) Company can implement this strategy to enable target individuals in an efficient way. It also helps to customize the company’s messages.

  1. Public Relations

 Attracting the target market is the main purpose of this strategy that Procter & Gamble (P&G) Company implements in their business operations. The company’s brand valuation will also increase after developing its public relations.

  1. Personal Selling’s

 Company is trying to improve their personal communication with the customers and this strategy can be the best option for it. Other than that, it can also help the company to retain their existing customers to the company by sending personal emails.

Research and development department

1. Email

Email is the new generation of communication services and every employee of the organization is connected with email. It is the fastest way to engage with employees and customers as well.

2. Team Meeting

Procter & Gamble (P&G) Company operates their business offline and most of the team works together. It can be a better and FactSet way to communicate with them. The company can also conduct the team meeting by zoom call which makes the process more convenient for the project manager.

3. Face to Face

Because of the offline business operations, it became easy for the project manager to communicate with individuals. Face-to-face communication can increase efficiency in the research and development department.

Across the organization

1. Online Meeting

As most staff use some form of social media, it is a good way to engage staff.

2. PowerPoint Presentation

PowerPoint presentation software can help the organization to identify issues. Other than that, the presentation allows you to show colored text and images with simple animation and sound.

3. social media

Most of the staff are using social media and they are also connected to the company there. Social media can be the best possible way to communicate across the organization.

Table 2: Promotional Plan

(Source: Created by the Learner)

Task 4: Conducting a team meeting

1. Discussion of initiation to the meeting

Solving the organization issue is the primary initiative of any meeting. For Procter & Gamble (P&G) Company, launching the new line of beauty care is the main initiative of the meeting. company ‘s management policies are reducing over the years and it is visible in their financial report for 2020 which needs to be increased by the year 2022. Therefore, in the year 2020, the company suffered from a financial crisis due to Covid 19 pandemic. P&G company’s current manufacturing process is affected because of the low business and it can also affect the profit margin of the organization (Mpug, 2022). Launching a new product increases the risk factor, which needs to cater to my research and development team. Team meetings can help to understand the initial issues and by conducting the team meeting, the project manager can get a proper solution to the issue. The Australian beauty product market is expanding and it is the best time to launch a new product which can help by developing a team meeting. Other than that, exploring new opportunities and establishing new goals is the main initiative of the team meeting. Lastly, Procter & Gamble (P&G) Company is launching the product in the Australian market and the company is not that successful in this market which is the biggest concern of the organization. This concern needs to be resolved by developing a management marketing plan which can be discussed in the meeting and completing the work is the primary agenda of the meeting.

2. Meeting Agenda

Date/Time:

 25th October 2022

11.00 AM

Location:

 Level 4/1 Innovation Rd, Macquarie Park NSW 2113, Sydney, Australia

Chairperson:

Jon R. Moeller (CEO)

Meeting Attendees:

Full names and roles

1. “B. Marc Allen, member of Audit Committee”

2. “Joseph Jimenez, member of Compensation & Leadership Development Committee”

3. “Angela F, member of Governance & Public Responsibility Committee”

4. “Terry J. Lundgren, member of Innovation & Technology Committee”

Agenda Item/Topic

Discussion/Outcomes

Action Officer

Due Date

Current progress of the new product

New line of beauty products is ready to launch in the upcoming month. Surveyed has been conducted by the research and development team.

Terry J. Lundgren

10th October 2022

Analyzing the new Australian market

It has been estimated that the Australian beauty market is expanding. Roughly, $22 billion AUD is spent on beauty products every single year. 

 B. Marc Allen

11th October 2022

Evaluating the Marketing plan for the new product

 Company will sell the product to the medium size retailers to increase profit margin. The company will also use social media to advertise the brand and the new product as well.

 Angela F

5th November 2022

Finding new opportunities

After the meeting it has been concluded that, Procter & Gamble (P&G) Company will adopt the website Flipping method in theory business operations.

Joseph Jimenez

15th November 2022

Summary

After analyzing the whole meeting, it has been concluded that Procter & Gamble (P&G) Company is taking a new step toward success. By developing new management and marketing strategies, the company increases its profit margin. Making the new product a success is the primary aim of the company.

Jon R. Moeller (CEO)

 2023

Next Meeting time/date

Discuss the progress of the new product.

Jon R. Moeller (CEO)

1st January 2023

10 AM

Meeting closed at:

Discuss the progress of the new product.

Jon R. Moeller (CEO)

1st January 2023

5 PM

Minutes are a true and accurate record of the meeting

Jon R. Moeller (CEO)

 N/A

 N/A

Table 3: Promotional Plan

(Source: Created by the Learner)

3. Conducting the meeting

Minutes of Meeting: 5 hours 33 minutes

Meeting Objective:

? To solve problems

? To make decisions regarding new product

? To implement management policies

Attendees:

B. Marc Allen

Jon R. Moeller

Angela F

Joseph Jimenez

Venue: Level 4/1 Innovation Rd, Macquarie Park NSW 2113, Sydney, Australia

Date: 25th October 2022

No.

Points Discussed

Actions Suggested

Target Date

 1.

 Marketing Agenda

Influencer marketing strategy will be used to market the new product.

 30th October

 2.

 Advertisement methods

 Social media will be the primary medium of advertisement.

 25th November

 3.

 Management policies

 Company will focus on communication management

28th December

 4.

 New market scope

Promoting

Selling products

Franchising distribution

 25th December

Signature of attendee 1: Signature of attendee 2:

Signature of attendee 3: Signature of attendee 4:

Table 4: Meeting minutes

(Source: Created by the Learner)

4. Conclusion of the meeting outcomes

After analyzing the recent report, it has been concluded that the company will increase its profit margin by launching the product. Therefore, P&G ventures in Australia mostly worked with luxury products which are helping the company to increase its profit margin. Other than that, the company is developing management policies that may help the company to develop a proper business plan. Other than that, the company's efficiency level is also increasing over the years and it is helping the company to grow its business operations.

Task 5

1. Innovation and practices

Innovation is an essential part of the company for growing its outcomes. It includes some of the innovations and practices that are as follows.

“Sense of freedom for workers”

Employers impose some rules for creating a suffocating activity for the employees. Freedom has some of the “most valuable assets”, they feel reluctant to ever think about the box outside (Bogers et al. 2018). The essence relating to organizational innovation lies within the ability of the employees to contribute to all the processes of creativity in the organization. The company also gives their workers some autonomy in practicing all the ideas of the novels.

Potential barriers

“Lack of leadership”

Sometimes new innovation is not accepted by many employees, trustees, and directors of the business driver and the strategies that were taken for the innovation. Therefore, they always continue doing the things that they always do (Masofa et al. 2018). Leadership is a time of innovation as it creates a working environment where all the employees encourage discussion freely by innovating new ideas and also approaches.

Fear involving new innovation

The biggest and single reason for not achieving a full potential is because of the fear that leads to the failure of the individual and also the organization. There is no guarantee that anything new and innovative will work (Frishammar et al. 2019). It must lead to failure of progress, development, and learning, which may affect the whole organization.

“Lack of collaboration”

Internal structure and the budgeting do not always facilitate any collaboration among the members. The income target of the individual always means fighting between the budget over all the budgeting structure and also leads to many reluctant to share with all the donors (Solaimani et al. 2019). It is that even if there is a return in the organization that could have more potential for having higher only if the team is together and works together.

Strategies

For overcoming all the barriers some steps were taken to resolve the problems which are as follows.

“Support from the top”

Organizations must succeed in encouraging all levels of innovation. The senior leadership articulates and communicates all the missions as well as the reinforcements within the organization. According to Momaya et al. 2020, the empowerment of the employees, by giving all the scope relating to the experiments of creating new ideas, helps in creating a connection between all similar innovations. It also includes all the current situations and the needs that are required by the organization.

“Learn from outside”

Benchmark and the seek out is the best practice within the public sectors as well as the private sectors just for bringing out the experts, facilitators, consultants and also providing all the network of the profession. According to Ode et al. 2020, it is very important for the senior leadership relating to support and also learning, encouraging all the outcomes and innovation that are being done in the organization. The innovation helps in the growth of the company or organization

“Experiments and evaluation”

Innovation sometimes involves both failure and success as well. When a failure occurs the senior leadership quickly recognizes it and tries to resolve it as soon as possible. According to Anzola-Román et al 2018, they make mistakes and do the correction on mistakes while creating more innovation and ideas for resolving them. Whereas when innovation leads to success then the senior leadership gets an award for creating ideas such as innovation for the organization. That helps in the growth of the organization or the company.

These are strategies that help to overcome all the barriers to the growth of the company. Innovation helps in more growth and improvement in profit and financial statements. More innovation will help in focusing more on customers.

Task 6

An integral part of the organization’s activity

“Sustainable changes”

Novelty wears off

It is used for creating a collective purpose of senses, which also includes the unleashing of the people for the development and also by creating all the creativity within the organization (Herrero et al. 2021). Knowing all the new opportunities as well as the possibilities for understanding all the following tactics for promoting all the creativity of the company. Clear sense also encourages some purposes towards the employees for all the act and action on the innovative ideas for promoting all the goals, objectives of the organization, and also even the shared vision. Leaders create an environment for cognitive development at all levels.

Evaluation of the strategies

 This challenge is to build all the barriers relating to the changes in the small-scale enterprise. That helps in expanding, and administering all the structures and also bureaucratic control in the growth (Geissdoerfer et al. 2018). All the expectations occur within the workers in the organization that has large innovation in the field. The dedication toward the condition of psychology for innovation should be created at the starting point of the edge.

Moderate changes

The leader needs to focus on the ideas for creating all the roles and also the changes that occur in the company culture (Cao et al. 2020). While creating all the skills that depend on the several factors leading to the company. It also establishes all the psychological conditions that help in promoting all imagination thinking, regardless of the size of the industry or the enterprises.

“Supporting structure”

It supports both the major development and also the incremental, for understanding all the psychology innovation. It leads in promoting var\iOS cultural innovations. Therefore, it would not happen. It creates all the skills of the company that depend on various factors.

“Establish a clear sense of the direction”

“Novelty wears off”

Changing cultures means that changing the mind takes some time. The aim is to speed up the process with all the initiatives. The mission of the organization helps in coordinating all the channels of creativity (Mazzucato, 2018). It is very important for adding the quality of the client for the existing services and also the products for delivering it in a very quick process.

“Evaluation of the strategies”

 With all the messages it focuses on the creativity that helps in increasing the quality that is being achieved (Boon et al. 2018). Innovation is described by Peter Drucker means that by creating new innovations and elements of quality.

“Moderate changes”

refers to the sense of the people that helps to clarify all the paths and also helps in deciding all the new ideas that have been the main focus of every organization (Bhimani et al. 2019). The novelty wears off with all the tools, it becomes all the time for working all the seriousness of the work that will take place.

Supporting changes”

The supporting structure is to establish all the senses (Yun et al. 2020). that would lead to the growth of the company by creating new innovations for the business.

“Open communication”

Open communication refers to the communication that has been taken between the staff and the management with an atmosphere of trust (Wang et al. 2020). Yet it cannot be expected that the workers will take any steps for building new strategies or innovation and also trusty culture. Company initiatives leadership has open communication which includes the process of regulating all the information at the time of sharing with the employees.

“Novelty wears off”

 It also covers both bad and good news. Innovation is supported by all the leaders that provide an opportunity for multiple interactions (Javed et al. 2020). Not all companies offer senior management for taking the policy of open doors.

“Evaluation of the strategies”

Implementation of strategies. It gives all the chances for face-to-face contact. Each and every organization set up a program for allowing all the front-line heard that workers should feel comfortable (Barbosa et al. 2021). The meeting with all the general managers helps in opening all the internet channels for sharing all the ideas or the inputs, expenses that the leader would corporate within the openness of the ideas regarding the ideas that have been taken in the view of the customers

“Moderate changes”

The changes should be done according to the market and the new ideas that were taken by the employees and the management (Salerno et al. 2020). They are the one who knows the customer's test and needs.

“Supporting structure”

The main support is to maintain good communication with all the members of the companies.

 “Install all the sense of ownership”

“Novelty wears off”

The ownership provides all the valuable motivation for creating all the thinking. It is clearly known that the needs are related to all of the organization (Strielkowski et al. 2019). It must include all the profit sharing that does not think about employees like shareholders and so on.

“Evaluation of the strategies”

When any workers do not see any action relating to the impacts on productivity towards the companies. It will appear all reactive and also passive for fostering greater engagement. This ensures the understanding of the workers about their jobs that affects their performance as well as the opportunities of the company.

“Moderate changes”

The changes were done in the ownership of the company so as to improve all the outcomes. For providing a better design and also the opportunities.

“Supporting structure”

They should implement all the strategies that are related to fuel consumption because it can provide better effectiveness (Hickey et al. 2018). Their perception also affects all the decisions relating to the future or ultimately future decisions.

Tolerancing all the risks and also the failure

“Novelty wears off”

The failure of certain elements is important for the implementation (Zydney et al. 209). It helps in promoting all the creativity that helps in developing all the outcomes and gives all the opportunities.

Evaluation of the strategies”

The strategies where the employees do not focus on the risk that has been understood by the objectives, it has been considered all the structure of the versatile for functioning all the mistakes and the relay using it.

Moderate changes”

The changes that have been done according to the concept of the organization are creating the front-line workers (Perng et al. 2020). It helps improve all the chances and the changes of the workers and also in the environment,

Supporting structure”

The structure that is followed focuses on the workers and also the environment. It helps the employees maintain trust in the organization.

Task 7

Table A: Meeting agenda template

Invitation to the meetings

 The meeting discussed the innovation of the process. In which it will be discussed the strategies, and supporting outcomes of the organization. It will also include all the practices. Potential barriers to innovation and what are the strategies for overcoming these outcomes? The involvement of new ideas, and opportunities that have been taken by the employees for overcoming such barriers. The meeting is held for the discussion of the strategies and the barriers. It will also focus on the front-line workers, to see whitest are not facing any problems. The whole meeting would be on innovation.

Date/Time:

7 august, 2020

Location:

1 P&G Plaza, Cincinnati, OH 45202-3315

Chairperson:

David s. Taylor

Meeting Attendees:

Full names and roles

1. G. hickey (Shareholders)

2. Johns Sydney (Executive owner)

3. salle perng, (Ownership)

4. W. Strzalkowski (chairperson)

Agenda Item/Topic

Discussion/Outcomes

Action Officer

Ms. Patricia A. Woertz and the Ms. Christine M. McCarthy

Due Date:

15 august 2020

Welcome

(Agenda item 1)

Accounting policies

The accounting policies require all the choices that are between the acceptance of the accounting methods that may require all the judgement of sustainable concepts.

 McGill way

 15 august 2021

(Agenda item 2)

 Employees benefits

The benefits that should be given to the employees by improving all the steps so that they do not face any problems. The primary concepts are healthcare and life insurance after retirement.

Barbosa. A

20 April 2020

(Agenda item 3)

Goodwill

Significant judgement is required for the estimation of the fair values.

Salerno. M

25 April 2020

Summary

Overall Summary

The overall summary focuses on the employee's benefits, accounting policies, goodwill which will help in the growth of the company

Decision/s

The decision that is taken on that basis is to develop more opportunities for the employees so that they may bring more customers to the company.

Action/s if any

There is no action taken

 H. Bimini

15. May 2021

Next Meeting time/date

15 December 2021

Meeting closed at:

20 December 2021

Minutes are a true and accurate record of the meeting

Approved/confirmed by whom?

 Cao. X

25 December 2021

 Table 5: Invitation to the meetings

(Source: Created by the Learner)

Table B: Meeting minutes template:

Minutes of Meeting: 25 minutes

Meeting Objective: Putting all the opportunity and focusing on the employee's needs and the customers.

Attendees: Herrero, M, P.K., Mason D'cruz

Venue: 171, Collins Street Victoria 3000

Date: 20 august 2021

No.

Points Discussed

Actions Suggested

Target Date

 1

 goodwill

 No action suggested

 1 august 2021

 2

 Benefits of the employees

 More improvement in the employee's health

 5 September 2021

 3

 Accounting policies

 No action taken

 25 December 2021

4

Creating new ideas

With the help of involving new ideas on the basis of the managers and the needs of the customers.

15. November 2021

  Table 6: Meeting minutes

(Source: Created by the Learner)

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