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Innovation and Growth - Coursework Example

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This work "Innovation and Growth" describes the theoretical position and the evidence provided by the experience of a number of firms to attempt an answer to the question of whether the size is a prerequisite, or at least an advantage, that enables and encourages organizations to innovate. The author outlines factors that help innovation, its sources…
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Innovation and Growth
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Download file to see previous pages Although there is a large amount of literature about innovation in organizations, there is very little on the management style that should promote innovation. (Amar, 2002, p. 14) While innovation is a subject that has evoked keen interest, it is also a subject that has failed to uncover the secrets of what fires innovation in an organization. Researchers have focused on three major areas in relation to innovation in an organization.
For example, the adverse external environment has been found to encourage creativity and innovation. This, along with organizational structure, is likely to play a role in determining the level of innovation that exists in an organization. A study by Russell(1990) has revealed that innovation requires careful nurturing, and that interaction between various members of an organization and exchange of information are vital to promoting innovation. At the same time, conservative organizations may need to change the culture in terms of values, beliefs, and practices. (Russell, 1990)
In the absence of a precise understanding of what promotes innovation in an organization, it becomes even more difficult to come to any conclusion regarding which type of organizations nurture innovation the best. However, the question of whether a large or a small organization is better suited to promote innovation might be easier to answer. To do so, it is necessary to understand what the term innovation means to various people.
Innovation is the introduction of new ways of doing things that produce better results than older methods. (Kuhn, 1993, p. 4) Innovation means making something new and converting an opportunity into new ideas that can be put into practice. It implies the exploitation and popularization of a new idea. (Tidd, Bessant & Pavitt, 2001, p. 38) Innovation is the adoption of a new idea or practice in society and therefore requires a social transformation. In other words, innovation requires attention to other people and not only to the technical aspects of change. (Denning, 2004,15)
Innovation in this sense is different from invention. The invention may be necessary for innovation, but it does not by itself constitute innovation. Innovation can be said to exist only if a new idea has been successfully commercialized and people are willing to buy the new idea.  Innovation is necessary for organizations to introduce new strategies and enjoy the benefits of differentiation. ...Download file to see next pagesRead More
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