C714.V2 TASK 1 INNOVATIVE AND STRATEGIC THINKING 2021/2022

C714.V2 TASK 1 INNOVATIVE AND STRATEGIC THINKING 2021/2022 This study source was downloaded by from CourseH on :29:44 GMT -05:00 A1. 1. The company’s culture sets the standard of how one within the company should behave and/or perform in alignment with the company’s beliefs and values. The fishing boat manufacturer has developed a culture of innovation and shared decision making. In the given scenario, the company founders have created a culture where employees are provided incentives for new, creative ideas. They have also implemented testing laboratories where customers can use the new or improved products and provide feedback. Both of these implementations effect their decision-making process by alerting them to possible alternatives or any necessary improvements. 2. The company’s organizational structure is vital to effective decision making. The fishing boat manufacturer has an organizational structure where employees and founders are seen as equal partners and are jointly involved in decision making. The company employees have full access to founders for collaboration and relationship building. All company decisions are presented to all employees to ensure everyone is on board. This allows for wholly agreed upon decisions, which in turn creates a unified approach to any new ventures. 3. The company’s mission and vision statements must be properly aligned with their decision-making process in order to be effective. The fishing boat manufacturer’s mission statement is “We will provide the most innovative customer-driven design and growth in the industry.” This aligns well with their process of innovating, testing and implementing. Their vision statement is “We will be the most sustainable company in the industry.” This will affect their decisions made when it comes