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Concepts of Innovative Management

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1.1 Current innovative and creative management processes FOR BUPCO Innovative management: “Innovation is not just about releasing new product. It also encompasses implementing new business process, fresh ways of doing things, radical, alliances, and brilliant new routes to market and business strategies.” (Sloane, 2003, pg.8) BUPCO takes the support of innovative management in terms of running business and serves its customers in a better and innovative ways. Portfolio management is the tool through which understanding of innovative management can be understood in better manner. Portfolio Management Processes: It consist of three components through which innovative management can be handled and represented in a structured framework. These components are described below. 1. Incremental: A very depth and meaningful analysis can be taken in this process through which BUPCO brings more developed and evaluated ideas on the current projects. 2. Radical: The way to use the basic and core methods with the same technology but more advanced implementation in BUPCO. 3. Fundamental: The process to use totally different technology. BUPCO current creative and innovative processes BUPCO is an established Company which has General contracting and Real Estate projects with great innovation such as hotlines services, Project video sharing with customers, advertising market on internet, Customer shuttle drop to project location, personal data collecting, etc. To maintain these services, initially BUPCO was working on very structured process of innovation called Incremental process where BCG framework was the main to work with creative ideas. This practice brought a massive poor results where MANAGING DIRECTOR of the BUPCO found the higher CREATIVITY as productivity with less and poor INNOVATION. Incremental process was becoming a obstacle to start the new projects, to rectify the issues this process got abandoned and replaced by 70-20-10 principal which made BUPCO profitable Company in its projects. 70-20-10 Principal: A recent observation comes with the results, where the core business of the BUPCO found in to Search engine and Ads. By looking to this result, BUPCO decided to spend more 70% time after search and ads and bring more ideas about it and get more customers for Real Estate projects. Where the 20% went to deal with technical people and to set them free in to search of more creativity through which most of the new and interesting Apartments can emerge. The rest 10% represent where the odd and crazy ideas which might not give desired output but still worth of trying it out. The BUPCO projects strategy is now closely to threaten MIR Akhter ltd dominance in Construction business. BUPCO believes in the systematic approach and to have matured employees who understand the needs and requirement of the Company. 1.2  Leading others to positively embrace the innovation and change Leadership: “Leadership is the systematic procedure through which once can influence the group of people or an individual to achieve the common goals.” (Northouse, 2007) BUPCO Leadership quality:  these are the qualities which BUPCO leaders carry with them to archive the Company’s goals by leading people of the company. It consist many of the qualities from which BUPCO employees learn and follow the same such as integration contributes internal values and external actions, management which passes success in to company, humility and openness to contribute the innovative ideas and fairly deal with the employees etc. BUPCO Leadership A quality leader brings motivation, problem solving skills, bonding between the employees and so on changes through which he justifies to be a leader. BUPCO is the company which has created the powerful history over 7 years by its successful brands with permanent innovation and strategies. It controls around 120 employees with different segments and consist of different leadership styles to get the goals achieved. Leadership styles can be many more like consultative, entrepreneurship, directive, autocratic, lassiez faire, Mc gergor’s  X and Y theories, concern for people and concern for tasks style, transformational and transactional theories etc. The company such as BUPCO which is in to many Projects has also the different management styles depending on the management level. By the reference of the article “Leadership that gets results”, written by Daniel Goleman has differentiated six style of leadership which are coercive, authoritative, affliative, democratic, pacesetting and coaching leadership. Affiliative style: this is the style where employees comes in to contact and make relationship bonding with each other by open communication and discussion which bring new ideas to the company. BUPCO deals with the employees who tend to speak and communicate which gives comfort level to the employees to be flexible with the management. It supports employees to be happier and not to work under p

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