There is no arguing that in today’s marketplace companies must innovate to survive. There is more pressure now than at any other time in history for innovation, especially if companies want to be industry leaders. This is because rapidly changing technology is continually driving changes in markets and shifting trends in customer behavior and expectations.
Managing innovation is a big role that puts a lot of weight on the shoulders of management teams. Depending on how much a company cultivates an innovative culture and environment, innovative ideas either go through chains of command, or are workshopped in specific departments.
Companies that encourage and reward intrapreneurship have a great advantage when it comes to retaining the best talents – especially important in today’s creative climate. Here are a few ways that your company can turn your employees into highly-engaged intrepreneurs.
The latest Innovation Leaders research shows that there is an increasing number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common?