Innovation Creation and Achievment of Strategic (Business) Goals.

Topics: Creativity, Innovation, Invention Pages: 4 (1122 words) Published: September 9, 2013
INNOVATION CREATION AND ACHIEVMENT OF STRATEGIC (BUSINESS) GOALS.

What is Innovation?
This can be defined as “ the process by which an idea or invention is translated into a good or a service, for which people will pay, or something that results from this process…It must be replicable at an economical cost and must satisfy a specific need…It [also] involves the deliberate application of information, imagination and initiative in deriving greater or different value from resources[ and encompassing] all processes by which new ideas are generated and converted into useful products”(http://www.businessdictionary.com).

Elements Necessary for Encouraging Innovation
Some of the elements necessary for encouraging employees to be innovative are discussed below:

Atmosphere: This is the creation of an environment where employees in the Research and Innovation Department of an organization are given the flexibility to think outside the box (i.e outside the structured and orderly laid down processes in an organization). It therefore becomes the responsibility of the top management team to ensure the creation of such an atmosphere. When this is done, it gives the employees the freedom to really brainstorm and come out with constructive ideas which in turn will lead to improvement (innovations). However, “creative and research staff need to be kept aware of the commercial needs governing innovations through active contact with operating businesses…[linking] creativity and technical expertise with the firm’s capabilities in other functional areas…” John Child (2005,P.380).

Communication: In This case, communication has to do with ‘openness’ (employees should be able to freely share information concerning their jobs) and ‘trust’ (management should be open enough to employees in terms of goals and objectives of the organization and what is expected from the employees). When this is well understood, this may encourage trust in the management’s judgment, in the case...

References: • http://www.businessdictionary.com
(Accessed 18th October 2012)
• http://www.cssp.com/CD0902/CreativeInnovativeEnvironment/default.php
(Accessed 18th October 2012).
• John Child(2005) Organization: Contemporary Principles and Practices: United Kingdom: Oxford: Blackwell Publishing. P. 380.
• John Roberts (2004) The Modern Firm: Organizational Design for Performance and Growth: United Kingdom: Oxford: Oxford University Press. P. 265.
• Tony Davila et al (2007). Business Book Summaries: Making Innovation Work: How to Manage it, Measure it and Profit from it. Vol.25, No.25, P.p2-5.
• Richard Pears and Graham Sheilds, (2010). Cite Them Right: The essential referencing guide. 8th edn. United Kingdom: Hampshire: Palgrave Macmillan.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Innovation in business
  • Innovation Essay
  • Strategic Innovation Essay
  • Business Model and Strategic Plan Essay
  • Business School and Strategic Innovation Simulation Essay
  • Business Model Innovation for Sustainability Essay
  • Strategic Innovation Essay
  • Strategic planning Essay

Become a StudyMode Member

Sign Up - It's Free