King Edward VII College has been operating since 2010. The College is based in Melbourne CBD and has...

Question

King Edward VII College has been operating since 2010. The College is based in Melbourne CBD and has an additional campus in Sydney. The College offers a range of courses in management, marketing, human resources and international business. It cu
ently has 195 students enrolled across all of its courses and both campuses. Courses are offered at all levels, from Certificate II to Graduate Diploma.
King Edward VII College is very popular due to its competitive pricing structure, innovative teaching methods and state of the art facilities.
The College cu
ently employs 25 staff members that include the CEO, a Finance manager, Sales and Marketing Manager and Sales and Marketing Assistant, Promotions Officer, Human Resources Manager, Operations Manager, Administration Manager, Office Assistant, Receptionist, Academic Manager, Student Services Officer and approximately 14 trainers and assessors. There is also a Board of Directors consisting of the four owners of the company.
Information required to complete Section 1 and 2
You are the Operations Manager at the College. Following a recent short course on workplace innovation, you spoke to the Management Team about encouraging innovation within the College. At the course, you learnt that for innovation to succeed, communication must be regular and deliberate and it is by modelling and describing the innovative process that the advantages of innovative thinking can be really appreciated and promoted.
The Management Team have given their full support to your efforts. Some suggestions from management included introducing
ainstorming sessions, providing a fact sheet or newsletter to employees, creating a dedicated email address for all employees to email their suggestions and ideas to, maintaining an innovation register to record ideas, possibly setting up a social media chat group to promote innovative discussion and awarding the title “innovation hero” on a monthly basis to an employee who has demonstrated innovative behaviour.
Despite the College’s healthy enrolment levels, management is aware that they must be prepared to adapt to new trends and ideas, in particular improved online learning experiences, flexible employment and working conditions and the introduction of open learning spaces.
Supporting and encouraging innovation is accepted as being integral to this. All employees are stakeholders associated with or impacted by innovation. While management is responsible to implement and use innovative practices as they manage their teams, all other employees should participate in and contribute towards creative ideas regardless of their position. As such, innovation should be built into all policies, procedures and activities. The management team has suggested that the operations manager meet with all employees other than the management team to share knowledge about innovation.
The board of directors have requested a written research report to fully understand the role of innovation at the college. They suggested that the college should consider creating an innovation strategy to provide a structured approach to innovation. In particular, they were concerned about the lack of training in critical/creative thinking for staff and the need to reward staff for innovative ideas that are actually used by the college. They also requested a cost
enefit analysis for actively pursuing innovation in college.
To help with the analysis, the management team provided the following financial information:
    Innovation costs
    Innovation benefits
    Human resource cost $10 000
    Increased enrolments $100 000
    Physical resource cost $20 000
    Staff retention $50 000
    New systems/processes $15 000
    Competitive advantage $20 000
Information required to complete section 3
After a period of 4 months, a variety of initiatives, processes, systems and activities have been established at the college. A
ainstorming register was created and the outcomes from regular
ainstorming sessions have been recorded.
    Date
    Brainstorming topic
    Participants
    Issues/Ideas/Solutions
    Monthly “innovation hero”
    Month 1
    Personal development
    Receptionist
Traine
Operations Manage
Student services office
    More regular performance reviews
Paid subscriptions to podcasts
Job rotations
    Receptionist
    Month 2
    Recruitment policies
    Receptionist
Traine
Operations Manage
Student services office
    Consider diversity and cultural differences
Accurate job descriptions
“Grey matter” – valuing older employees
    Traine
    Month 3
    Competitors
    Receptionist
Traine
Operations Manage
Student services office
    Relevant online courses
Chat forums
Include more case studies
Cater for learning styles and preferences
    CEO
    Month 4
    Academic excellence
    Receptionist
Traine
Operations Manage
Student services office
    Social media marketing
International student promotions
Exchange students
Shared “professors”
Mental well-being
    Student services office
When the CEO reviewed the register, he was pleased with the outcome, but wanted to know why the individuals had been awarded the title “monthly innovation hero”. He was also concerned that the same employees participate in the
ainstorming event each month. The management team were happy with the outcomes of the
ainstorming sessions and said their team members had benefited from the ongoing emphasis and awareness of innovation. The management team will meet to creatively discuss and address some of the issues, ideas and solutions in the innovation register. The CEO has requested that together the team decides which issue is the most pressing and should be dealt with first.
© 2021 RTO Works        Page 1
King Edward VII College
Business Plan
2020 – 2022

    Executive Summary
Established in 2010, King Edward VII College is a Registered Training Organisation (RTO) that provides training to students in business and management.
Our principal purpose is to provide high quality training services to satisfy students’ needs.
Our training is nationally recognised and accredited to meet vocational and educational standards. Courses are designed by highly qualified staff with extensive industry and training experience to achieve teaching and learning excellence, flexibility and personal satisfaction.
We draw on our established relationships with industry and other stakeholders to ensure our courses are appropriate to the demands of our clients and consistently meet their expectations.
Quality is maintained in compliance with the national VET Quality Framework and through our continuous improvement system.
A key objective is to develop the required knowledge and skills for clients to be job ready and competently undertake their chosen role in a wide range of business areas.
Mission
King Edward VII College provides high quality industry training that engenders participation and achievement.
Strategic Objectives
To be a leader in vocational education and training
To be a leader in innovation in the vocational education and training secto
To establish and maintain high quality infrastructure supporting clients and staff
To be well led, high performing, profitable and accountable
To develop our people and resources
Values
The core values underpinning our activities are:
sustain excellence in training and assessment
promote innovation across all of our business operations
e a collaborative and caring community.
em
ace difference and diversity
demonstrate integrity and equality of opportunity in all activities
operate with openness and accountability.
Overview
This new business plan reflects our approach to the coming years. We commenced operations in 2010 with relatively low student numbers which then increased significantly.
We do not expect these numbers to increase significantly over the period 2020 – 2022 as we are cu
ently nearing capacity in our Melbourne and Sydney campuses.
We also expect stable costs for our existing campuses with no major increases expected. However, there will be significant financial investment required for the new campuses.
Resourcing
Financial
Due to the success of the College to date, there are significant cash reserves to fund the new campuses, plus general initiatives, including quality training and assessment and continuous improvement and innovation.
Staffing
Regarding staffing, existing staff will perform key functions across the new campuses such as human resources and marketing. They will also perform any new functions arising such as responsibility for quality and innovation.
Operational Objectives
The following identifies the operational objectives we plan to achieve in pursuit of our strategic objectives.
    2020
    Priorities
    Key performance indicators
    July
    Improve web site information to attract more students
    10% increase in students by June 2021
Improve market share by 5%
    Septembe
    Conduct annual internal audit
    Audit conducted, and continuous improvement identified
    Octobe
    Develop and implement a cultural sensitivity and awareness program for staff
    All staff trained in cultural awareness
    Decembe
    Staff performance reviews
    All staff performance reviews conducted
    2021
    Priorities
    Key performance indicators
    January
    Identify staff required for new campuses
    Staff recruited and in place
    January
    Provide information sessions showcasing the College (existing campuses)
    Identify at least 50 potential sign ups
    March
    Develop online learning for all courses
    All courses offered online by end 2021
    July
    Conduct annual internal audit
    Audit conducted, and continuous improvement identified
Increase student numbers by 12% by June 2021
    November
    Staff performance reviews
    All staff performance reviews conducted
    2021
    Priorities
    Key performance indicators
    Fe
uary
    Undertake scoping study for possible offshore campus
    Scoping study completed by June 22 and decision made as to whether to proceed
    July
    Conduct annual internal audit
    Audit conducted, and continuous improvement identified
    Novembe
    Staff performance reviews
    All staff performance reviews conducted
The Market
Market characteristics & conditions
King Edward VII College has two
oad segments to its target market consisting of people wishing to gain entry to the industry, as well as people already working in business and management who want to formalise or develop their skills.
Workforce needs for this sector have been identified as the need to develop an adaptive, responsive and diverse workforce, keep up with technology and to build effective leadership and management skills.
This has informed King Edward VII’s choice of course delivery.
We also intend to capitalise on market needs for delivery of blended (classroom and online), as well as online courses.
There are many training providers in our sector and King Edward VII seeks to offer a point of difference through our competitive pricing structure, innovative teaching methods and state of the art facilities.
Although we will be setting up new campuses in Brisbane and Adelaide in mid 2021 and commencing in the new financial year (July 1) we expect these to be loss leaders initially. Our main aim is to build our
and. We do not expect there to be more than 50 students in each campus in the first year, as these locations are less popular than Sydney and Melbourne but are important for building our
and.
Situation Analysis
    Strengths
    Weaknesses
    Price, value and quality
Clear understanding of student requirements
Delivery mode suitable for client requirements
High quality learning & assessment materials
Committed to quality ethical practice
Ability to adapt to changing market conditions
Effective and practical policies and procedures
Competitive pricing
Friendly organisational culture
Level of available finance for investment
    Focus on business and management courses only
Substantial investment in Brisbane and Adelaide meaning large financial outlay
High staff turnover of trainers
Lack of diversity in workforce
    Opportunities
    Threats
    Potential for offshore delivery
Target market experiencing growth
To target other States and Te
itories
Cu
ent portfolio of courses popular in target markets
Potential to apply for Government funding
Explore innovative processes and product offerings
    Changes in Industry/ Government legislation affecting students
Adverse effects of government policies
High level of competition
Other RTO’s bad/ malpractice creating poor perception of training providers to clients
Predicted uncertainties in the world economy impacting level of demand for training
Low price competitors
Failing to satisfy clients demands
Marketing Strategies
Potential students make their decisions based on the reputation of the organisation, quality of courses, pricing, employment options and personal recommendations amongst other factors.
Our strong vocational emphasis and continual industry consultation will ensure our courses are appropriate to develop the skills and knowledge cu
ently demanded by employers and students.
Our market decisions are based on extensive and continuous market research, targeting market segments and clients within industry. We collect our data from a variety of sources including cu
ent and potential clients, VET and business sectors, competitors, media and government along with many other sources.
We plan to develop our market share by:
offering online and blended learning
providing face to face information sessions
improving our web site
continually improving the quality of service given to clients’ pre-enrolment, during course delivery and through the provision of support services while remaining price competitive
focusing on the provision of courses required by industry
maintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordingly
continually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision making
consistently satisfying individual client needs and demands at the same time as developing the knowledge and skills required by industry
targeting identified growth markets with planned, market appropriate campaigns employing a variety of promotional strategies and advertising mediums
offering attractive fee structures to our clients
continually improving the skills, knowledge and effectiveness of King Edward VII College through our commitment to training and development
egularly reviewing the effectiveness of all our operations and making improvements when and where necessary.
Board of directors
CEO
Operations Manage
Sales and Marketing Manage
Human Resources Manage
Sales and Marketing Assistant
Promotions Office
Student Services Office
Assessors and Trainers
Finance Manage
Receptionist
Academic Manage
Administration Manage
Office assistant
© 2021 RTO Works        Page 1

King Edward VII College has been operating since 2010. The College is based in Melbourne CBD and has an additional campus in Sydney. The College offers a range of courses in management, marketing, human resources and international business. It cu
ently has 195 students enrolled across all of its courses and both campuses. Courses are offered at all levels, from Certificate II to Graduate Diploma.
King Edward VII College is very popular due to its competitive pricing structure, innovative teaching methods and state of the art facilities.
The College cu
ently employs 25 staff members that include the CEO, a Finance manager, Sales and Marketing Manager and Sales and Marketing Assistant, Promotions Officer, Human Resources Manager, Operations Manager, Administration Manager, Office Assistant, Receptionist, Academic Manager, Student Services Officer and approximately 14 trainers and assessors. There is also a Board of Directors consisting of the four owners of the company.
Information required to complete Section 1 and 2
You are the Operations Manager at the College. Following a recent short course on

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Bidusha · Accepted Answer

BSBSTR801
LEAD INNOVATIVE THINKING PRACTICES
STUDENT VERSION
PROJECT PORTFOLIO
First published 2021
RTO Works
www.rtoworks.com.au
hello@rtoworks.com.au 
0452 157 557
© 2021 RTO Works 
This resource is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review as permitted under the Copyright Act 1968, no part may be reproduced by any process without written permission as expressed in the RTO Works License Agreement.
The information contained in this resource is, to the best of the project team’s and publisher’s knowledge true and correct. Every effort has been made to ensure its accuracy, but the project team and publisher do not accept responsibility for any loss, injury or damage arising from such information.
While every effort has been made to achieve strict accuracy in this resource, the publisher would welcome notification of any errors and any suggestions for improvement. Readers are invited to write to us at hello@rtoworks.com.au.
Business Works is a series of training and assessment resources developed for qualifications within the Business Services Training Package.
BSBSTR801 PROJECT PORTFOLIO 	15
	
	Contents
Section 1: Understand innovation in your organisation	5
Section 2: Lead and support innovation in your organisation	7
Section 3: Implement and sustain innovation in your organisation	10
	Student name:
	
	Assessor:
	
	Date:
	
	Organisation this assessment is based on:
	
	Documentation reviewed as preparation:
	
	
	Section 1: Understand innovation in your organisation
Describe the organisation you are basing this project on.
What is the name of the organisation?
What are the main activities of the organisation?
What is your role in the organisation?
How does your role fit into the organisational structure?
Identify at least two stakeholders who will be associated with or impacted by innovation in your organisation.
How are your identified stakeholders associated with or impacted by innovation?
Summarise any existing organisational requirements relating to identifying, introducing and promoting innovative practices, processes, products and/or services (for example, communication policies and procedures, risk management policies and procedures etc.)?
	ANSWERS:
1.1. The chosen organization is called King Edward VII College.
1.2. An assortment of the board, promoting, HR, and global business courses are accessible at the college.
1.3. I am Operating Manager at the college.
1.4. I will report to the CEO. I will be directing the organization's trainers and assessors.
1.5. Managers of the organization's human resources and academic departments are two stakeholders who will be involved in innovation.
1.6. The management team is essential to the organization's ability to innovate. The management team's efforts and support are essential to the innovation's success. As a result, the transformation in the organisation is linked to the human resources manager and the academic managers.
1.7. There is sure necessity to recognize and advance innovative practices in association, for example,
A. Proper training
By giving training to the staff, the act of advancement could be done successfully. The training additionally helps in upgrading imaginative reasoning of colleagues.
B. Rewarding staff
By rewarding staff, it will urge them to zero in on their work and spur their chance to do authoritative undertaking. There ought to be convenient compensation to workers examining their exhibition and results.
C. Cost/benefit analysis
Cost benefit analysis ought to be completed to figure out the benefit with advancement in the association	
	The remainder of Section 1 of your portfolio requires you to do research. You must access at least three different sources of information to do your research (for example, discussion with stakeholders, internet searches, industry standards, best practice examples etc.). 
You may also use the additional information in the Simulation Pack to assist you in answering the questions.
Attach proof of your sources to this section of your portfolio (e.g. screen shot of search results, list of website links etc.)
Research innovation:
Choose at least one past and one current innovation theory. Compare and contrast these theories and the associated thinking behind these theories. 
Summarise relevant workplace conditions, including:
1.1.1. specific conditions that facilitate innovation (e.g. critical thinking).
1.1.2. specific issues that impact innovative thinking and creativity.
Analyse at least two potential barriers and two potential risks associated with introducing and maintaining innovation in an organisation 
Describe strategies that may be used to respond to the barriers/risks.
Summarise at least four techniques and tools that can be used in your organisation to generate ideas and facilitate creative thinking.
Identify three examples of leadership styles and discuss the impact on innovation, specifically whether the style of innovation encourages or inhibits innovation within an organisation.
	2.1 One of the earliest sociology thoughts is E.M. Rogers' Dissemination of Innovation (DOI) Hypothesis, which he made in 1962. It was first utilized in correspondence to portray how a thought or item gets footing and diffuses (or spreads) through a populace or social framework over the long haul. The 'Three Horizons' framework is a foreknowledge device that can help us in organizing our future reasoning in manners that encourage imagination. It makes sense of how three examples or techniques for doing things develop through time, as well as their general noticeable quality and interconnections. The progress from the main horizon's laid out example to the improvement of on a very basic level new examples in the third happens by means of the movement of second horizon. Time, correspondence, and social frameworks, likewise known Connect verification of your sources to this part of your portfolio as adopter classifications, are the essential factors that impact the spread of another idea or creation, as indicated by the dispersion hypothesis. According to three horizon model you can't guarantee a splendid future without finding some kind of harmony between every one of the three points of view, and thusly, you'll streamline your improvement potential as well as lower your organization portfolio's risk.
2.2 
2.2.1 The particular circumstances that work with advancement are 1:
A. Shared vision
Make a visual portrayal of your group's future to exhibit your collaborators what they are really going after and what new propensities they should get to arrive. A future vision shouldn't just lay out a shared information on what requirements to change, yet in addition make sense of why it should change. A shared vision has beneficial outcome on association and powerful cooperation.
B. Critical thinking
The explanation critical thinking advances development is basic: it is used when judgment is expected to accomplish an ideal arrangement of esteemed results. Therefore, most development results are steady upgrades in view of thoroughly examined thoughts.
C. Change management
Change is expected for the execution of advancement management, as well as the execution of developments itself. These changes may be viable assuming that they have the help of all representatives and if the labour force itself will adjust. Therefore, change management is a very critical expertise that each advancement supervisor ought to have in their tool kit.
2.2.2. The issues that influence imaginative reasoning and innovativeness are:
a. Misunderstanding
Representatives who are not imaginative in their work cycles might misconstrue development inside an organization. The board might have restricted comprehension of the kind of work expected to foster creative drives. An incorrect impression of what is inventiveness might prompt work environment debates that smother efficiency and imagination, as well as an undesirable or impossible workspace.
b. Policies by rules
Representatives are being held back from contributing by policies and techniques, unbendable and inflexible hierarchical designs, customs, and a culture of keeping the guidelines, which are all stifling any new or inventive exercises.
2.3 The two potential barriers and two potential risks connected with keeping up with development in an association are:
Two potential barriers:
a. Absence of budget:
It very well may be hard to survey the effect of development since it is a constant cycle with long haul goals. This might prompt a strained to and fro with individuals responsible for the corporate budget since subsidizing might be sliced on the off chance that development takes more time to convey. Be that as it may, on the off chance that subsidizing for development is decreased, it will be extremely difficult to accomplish. The key to focusing on your development budget, as indicated by the Harvard Business Survey, is to begin little and try not to consider development a one-size-fits-all undertaking.
b. Absence of leadership:
The hierarchical way to deal with development is required. Legal administrators, Chiefs, and board individuals habitually go against or differ on the essential importance of development as a business driver and what it would involve for their association. Accordingly, individuals continue to do what they have consistently finished. It needs advancement practice and follows a similar conventional cycle.
Two potential risks:
a. Risky and costly
Prior to bouncing in, it is basic to think about the benefits of development — Clients might dismiss a few creations, and that implies they won't buy or use them. The monetary misfortune could happen with ineffective development projects.
b. Functional risk
Few out of every odd development is a triumph. Some neglect to convey the benefits that were expected, while others flourish unexpectedly. It is conceivable that the organization will not have the option to satisfy its quality, estimating, or plan objectives.
2.4. A portion of the systems that could be utilized to answer the barriers/risks are:
A. Overseeing budget
The key to focusing on your development budget, as indicated by the Harvard Business Survey, is to begin little and try not to consider advancement a one-size-fits-all undertaking. Begin with few ventures right away. Try not to overdo it with your assets; all things being equal, think of it as a venture. When one of those more modest undertakings begins to deliver results, you can step by step increase until you have a dynamic development culture that can't be halted.
B. Leadership quality
By appropriate leadership preparing and abilities, association could take legitimate choices. During the hour of advancement, pioneers need to direct the group. In this way, appropriate preparation and abilities ought to be given to pioneers to take reasonable choices for the association and colleagues. The compelling pioneers help to diminish functional disappointments and monetary risks.
2.5. The four procedures and devices that could be utilized in association to produce thoughts and work with imaginative reasoning are:
1. Brainstorming
Brainstorming meetings could assist you with thinking of ground-breaking thoughts.

King Edward VII College has been operating since 2010. The College is based in Melbourne CBD and has an additional campus in Sydney. The College offers a range of courses in management, marketing,...

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