Innovation is often seen within the vantage point of knowledge sharing networks and technology. However, the decisional process that creates innovation may include other factors that can provide competitive advantages for organizations. There are a range of complementary capabilities that improve upon organizational innovation ( Yam, et al., 2011). According to the neo-Schumpeterian models there are four areas that help to create sustainability ( Nelson and Winter, 1982) . Technology, account operations, management, and transactions have an influence on the success of the entire business. Each of these concepts interrelates and influences the overall innovation standards. The factors that lead to higher levels of market performance are often embedded in other functions within the organization. For example, the personalities of the management team will determine management innovative capabilities. Research helps to improve upon the overall development of appropriate cons
Showing posts with the label what is innovation
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Nations seek to develop new ways of competing on the market. As the world economy sputters along the race for development continues at a renewed pace. The Internet has afforded new ways of using information and those industries and nations that can capitalize on knowledge acquisition the most are likely to see growth in their revenue and subsequent GNP. Malaysia has increased in financial and social prominence throughout Southeast Asia. Many of the organizations have capitalized on the new knowledge based technologies to create international competitiveness and improve on national output (Özçelik & Taymaz, 2002). They were able to find methods of gaining, sharing, and implementing such knowledge. Yet such gaining, sharing and implementing is not a onetime event. Effective innovation requires a cultural change that creates sustained momentum (Davenport and Prusak, 1998). People should become accustomed through their daily routines to this sharing and developing new
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Encouraging employees to be agents in change is difficult due to the lack of theoretical frameworks associated with the new innovative paradigm. To ask an employee who has not contributed before to become a contributing member of organizational development is difficult until they are able to formalize such concepts into a process and then create an internalized routine of the new expectation. Developing employee innovation requires the understanding of bounded rationality and the need to create a methodology that fosters a participative process. Employees follow a particular pattern and routine throughout their working day (Nelson and Winter, 1982). Even though these routines make for orderly workdays, ease of management, and stability of the organization they do not necessarily improve upon the organizations output. To encourage employees to act purposively, beyond daily routine, requires the ability of employees to deliberatively plan and make decisions (Kirzner, 1997).