Managing Innovation

Topics: Innovation, Management, Problem solving Pages: 4 (428 words) Published: April 28, 2015


Leading Innovation and Change
Managing Innovation

Managing Innovation
Innovation is important to every organization in order to successfully gain better market shares, customer loyalty and more investments. Unfortunately, not all succeeds in innovating effectively, and most organizations struggle with it. According to Peters and Waterman (O’Sullivan, 2009, p. 38) in their book In Search of Excellence, firms who transform, adjust, responds to the shift in market’s needs and continuously innovate becomes excellent organizations. They said there eight attributes that can be applied to commercial or nonprofit, big and small organizations and these are as follows: 1. A bias for action involves testing out and experimenting new ideas. Regardless of their past success or loss, they continue to add value to their consumers. 2. Excellent organizations keep their communication open with their customer in order to determine and solve problems, also generate new ideas to improve their services and products. 3. Autonomy and entrepreneurship entails the organization’s ability to take risks in supporting new good ideas in the course of its life cycle no matter how difficult it is. They are willing to make extra efforts to bring an idea to success. 4. Productivity through people is a trait that sees every individual as a potential source of new valuable ideas that will benefit and attend to the needs of the stakeholders. These excellent organizations encourage their people to be involved in problem solving, generation of new idea and its execution. 5. Hands on and value driven leaders and managers understand the tasks to be done and spend time with colleagues as they deliver services and continuously find numerous ways to add more value to the customers. 6. Stick to core business means the organization learns and develop sets of skill and expertise that revolves the core of the business (products, service, and process). They...
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