Course Content
Generate innovative thinking and creativity
This topic focuses on fostering innovative thinking and creativity. It involves identifying and analyzing trends influencing an organization's current and future thinking. Techniques and tools are employed to generate ideas and facilitate creative thinking. Creative thinking techniques are introduced and promoted. Extensive research is conducted to understand the conditions for innovation and factors influencing innovative thinking and creativity, including the study of innovation drivers and enablers.
Lead innovative practices
This topic focuses on leading innovative practices. It includes assessing one's leadership style to ensure it encourages innovation, refining practices supporting innovation, promoting sustainable innovative activities, facilitating knowledge transfer among stakeholders, and managing risks associated with innovation.
Support a culture of innovation
This topic focuses on nurturing a culture of innovation within an organization. It involves identifying, introducing, and promoting innovative practices, processes, and products, aligning them with organizational needs. It establishes methods to capture and share innovative ideas, encourages team communication and development for innovation, provides necessary resources, applies strategies to foster an innovation-friendly workplace culture, and implements systems and processes that support innovation.
Sustain innovative thinking and practice
This topic focuses on sustaining innovative thinking and practices within an organisation. It involves developing strategies to integrate innovation into organisational activities, monitoring processes to ensure awareness of contributions, identifying and mitigating potential barriers and risks, analysing innovation performance for improvement, seeking feedback from stakeholders, and making necessary changes to enhance innovative thinking and practices based on feedback received.
BSBSTR801 Lead innovative thinking and practice
About Lesson

Reviewing other innovations and generating new ideas in business innovation is crucial for staying competitive and relevant. It enables businesses to adapt to changing consumer preferences, emerging technologies, and market dynamics. This proactive approach fosters creativity, drives product/service improvements, and facilitates strategic planning to meet evolving customer demands effectively.

For some perspective:

Companies that invest in research and development tend to be more innovative. In 2020, global R&D spending exceeded $2 trillion, with technology and pharmaceutical companies leading the way.

Startups play a significant role in innovation. In 2020, over 4.4 million new businesses were registered in the US market alone, demonstrating the ongoing entrepreneurial spirit.

Also in 2020, the World Intellectual Property Organisation reported a record 275,900 international patent applications. Demonstrating the extraordinary growth in innovative products and processes.