Innovation the World in Which Term Paper

  • Length: 5 pages
  • Subject: Business
  • Type: Term Paper
  • Paper: #97310608

Excerpt from Term Paper :

We can never tell what could have been with Pablo Picasso's talent if not for such strict management.

Trust can be generated only if company is open for any internal or external communication and no misunderstanding can flaw operation process. Management of the company should try to increase cross-functional interaction between workers and individual work must be combined with some team work. Personal creativity development must be focused on together with team creativity development where choosing different leaders for different tasks can be most rewarding as supervising increasing self-esteem which further on floods into better performance. People must be given possibilities of leadership growth and different career tracks that will further diversify activities and lead to self-selection and skills improvement and differentiation. Teams with the members of the most diverse backgrounds tend to be the most innovative and effective collaboration must be managed professionally within each group. Nevertheless, preliminary inner group climate surveys must be carried out to confirm the compatibility of the team members with possibility to provide them with team training concentrated on collaboration and innovation. If all the chains are selected properly, all the workers are good professionals personally and each department is a good team, then the total corporate organism will function properly. Top management representatives must be very supportive to all the members of the firm and explicitly state that everybody is important for the function of the firm equally. Some organizations prove to have poor new product introduction because they have inefficient cooperation between different departments within the company.

The final step to a company with profitable future opportunities due to successful innovation tradition, is contributing appropriate recognition and rewarding for all the people within the company according to their personal needs as some of them may place more importance on material benefits while for others promotion and status play key roles. If workers are not rewarded appropriately to their efforts, not necessarily depending on the outcome, but basing on the progress they have achieved, they will lose any incentives to give their outmost for the profitability of the company. Appreciation of every person and his every act is the signal for the future that you expect them to perform well and the firm is committed to long-term relationship.

To summarize, strategic innovation management based on current market situation and aimed at satisfying future client needs, managed professionally within all segments of the company will lead to stable growth with timely evolution of the company, personal satisfaction of each employee and maximum company performance.

References

Baldwin, J. (1995) Innovation: The Key to Success in Small Firms, Micro-Economic Studies and Analysis Division, Statistics Canada.

Booz, A., & Hamilton Inc. (1982) New Products Management for the 1980's, Chicago.

Coyne, W.E. (1996) Building on a tradition of innovation, The UK innovation Lecture.

Deshpande, R., Farley, J.U., and Webster, F.E. Corporate Culture, Customer Orientation and innovativeness in Japanese firms: a quadrad analysis. Journal of Marketing, 57, pp. 23-27.

Donald, G. (2003) Innovation in small businesses: Culture and ownership structure do matter. Journal of Developmental Entrepreneurship, April

Drejer, A. (2006) Strategic innovation: a new perspective on strategic management, Handbook of Business Strategy, pp. 143-147.

Hislop, D. (2003) Knowledge integration processes and the appropriation of innovations. European Journal of Innovation Management, 6 (3), pp. 159-172.

Jonash, R. (2005) Driving sustainable growth and innovation: pathways to high performance leadership. Handbook of Business Strategy, pp. 197-202.

Kuratko, D.F. And Hodgetts, R.M. (2001) Entrepreneurship: A Contemporary Approach, New York: Harcourt.

Mitchell, D. And Coles, C. (2004) Establishing a continuing business model innovation process. Journal of Business Strategy, 25 (3), pp. 39-49.

Mumford, M. (2000) Managing creative people: strategies and tactics for innovation, Human Resources Management Review, 10 (3), pp. 313-351.

Steele, J. And Murray, M. (2004) Creating, supporting and sustaining a culture of innovation. Engineering, Construction and Architectural Management, 11 (5), pp. 316-322.

Drejer, A. (2006) Strategic innovation: a new perspective on strategic management, Handbook of Business Strategy, pp. 143-147.

Booz, A., and Hamilton Inc. (1982) New Products Management for the 1980's, Chicago.

Mitchell, D. And Coles, C. (2004) Establishing a continuing business model innovation process. Journal of Business Strategy, 25 (3), pp. 39-49.

Baldwin, J. (1995) Innovation: The Key to Success in Small Firms, Micro-Economic Studies and Analysis Division, Statistics Canada.

Donald, G. (2003) Innovation in small businesses: Culture and ownership structure do matter. Journal of Developmental Entrepreneurship, April

Kuratko, D.F. And Hodgetts, R.M. (2001) Entrepreneurship: A Contemporary Approach, New York: Harcourt.

J. Baldwin (1995) Innovation: The Key to Success in Small Firms, Micro-Economic Studies and Analysis Division, Statistics Canada.

Hislop, D. (2003) Knowledge integration processes and the appropriation of innovations. European Journal of Innovation Management, 6 (3), pp. 159-172.

Deshpande, R., Farley, J.U., and Webster, F.E. Corporate Culture, Customer Orientation and innovativeness in Japanese firms: a quadrad analysis. Journal of Marketing, 57, pp. 23-27.

Steele, J. And Murray, M. (2004) Creating, supporting and…

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