Week 4 Innovative Thinking in a Business Measurement and Reward System

Week 4 Innovative Thinking in a Business Measurement and Reward System

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You are a management team in a selected virtual organization. Your business is shifting its focus and has indicated innovation as a high priority. To integrate innovation into the culture of the company even further, an employee measurement and reward system is being developed by your team. Access the Virtual Organization on the student web page to select either Kudler Fine Foods, Riordan Manufacturing, or Huffman Trucking as the basis for your team assignment. Write a business proposal. Determine how you might measure and reward employees for innovative thinking and write an informal proposal of your ideas to the organization’s CEO or founder Your proposal must be at least 500 words and include the following: Define how success will be measured. Describe how the system will affect the hiring process. Describe how employees will be rewarded for innovative thinking. Describe how the system might affect financial management, investor relations, and market perceptions among shareholders.

MGT 411 Week 4 Innovative Thinking in a Business Measurement and Reward System

Riordan Manufacturing was founded in 1991 by a professor of chemistry, Dr. Riordan, and has consistently stayed dedicated to being competitive, growing, and financially lucrative. Riordan Manufacturing is dedicated to our customers, employees, stakeholders, and stockholders.

Riordan Manufacturing will stay competitive so that innovation stays a high priority. Our company has to create a new innovative culture.

Our company has concluded that the organizations need to have a system in place present for incentives, measurements, motivation, and rewards, so innovation is advanced to align alongside our innovation strategy.How to Measure Success

For Riordan to have efficient delivery sustained with high yields, innovation has to compliment both measurements and incentives.

Riordan Manufacturing must come to an agreement on a measurement system that creates a definite, innovative culture. With agreeing to a measurement system, our company will create a specific culture for our management’s responsibility.

A model will describe the inputs, outcomes, outputs, and processes fro……………………