ERM Essay Example | Topics and Well Written Essays - 2750 words

ERM - Essay Example Innovation in the public sector context: In public sector context, innovation is defined as application of new ideas to produce improved outcomes. It is creating and implementing products, services or methods of delivery to improve the efficiency, the effectiveness and the quality of outcomes (Hargadon, Andrew 2003). Generally the public sector is considered as a passive receiver of innovation taking place in the private sector by the private companies, but the public institutions do innovate as well. Innovation takes place across government’s public sector entities these include policy development, different approaches for using technology, program delivery, also organizational innovation to provide new services. Every public servant should realize and appreciate the importance and diversity of innovation, and find such ways to achieve it that minimizes its risks (Mulgan & Albury 2003). Different forms and dimensions of innovation: Innovation theories show that it can take ma ny forms as some will be transformational, representing s a substantial departure from the past. Others include organizational improvements or emergent technologies. Innovation can be triggered within a sector/institution or by external influences. Different types of innovation in the public sector include the following streams. Firstly shaping policy directions; here the public sector role is to provide consultancy to government’s decision making related to policies and programs by providing objective and reasoned advices. Second type is implementation of policies and programs that is by delivering services to the country’s community efficiently and effectively. Lastly there are administrative innovations that introduce new internal processes and practices aimed at improving productivity and reducing costs (Paul Cunningham). Benefits of Innovation: There are many diverse benefits of innovation. Innovation is crucial for the enhancement of economic performance, welfare of the society, and for the stability of the environment, these benefits of innovation are widely recognized. Innovation can also drive new directions and enable better performance. It can improve an organization’s or a sector’s (public or private) efficiency as innovation would provide not only higher quality but also more timely services to citizens. It will also reduce business transaction costs. One of the major benefits of innovation is that it provides new methods of operation, and it is only innovation that helps moving from the present to future (Reilly 2013). Two Basic Drivers for Innovation: One of the main drivers for innovation specifically in public sector includes new and changing government as well as community expectations, to meet these expectations the public sector needs to innovate. The other driver for innovation in the public sector is the need for coordinated approaches, this is when there are discrepancies in the current approaches and are not sufficient for the new changing system, hence innovation is to come up with new approaches and refined processes that can fulfill the requirements (Boden & Miles 2000). Private and public sector innovation: Both the private and public sector innovation have some differences, commonalities, and synergies. Some aspects of public sector inn