Creating the Innovative Organisation
Centre for Entrepreneurial Management and Innovation (CEMI) Discussion Paper Series No. DP0401 (ISSN 1448-2541)
17 Pages Posted: 5 Mar 2012 Last revised: 8 May 2013
Date Written: July 14, 2004
Innovation within a commercial environment is about adding value through new product development, or reducing cost via changes to process technologies and systems. While is may take the form of radical, disruptive change, the majority of innovations are incremental in nature. Contemporary innovation management requires the active participation of all employees with adequate rewards and recognition of such behavior. Management plays a key role in this process, motivating employees to seek innovative solutions and identifying opportunities for enhanced innovation via interactions with the customer. It is important for organizations to build innovation management systems able to assist with the facilitation of knowledge sharing and commercialization among both internal and external actors.
Keywords: innovation management, commercialization, knowledge management
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