innovation and strategic management
Innovation and Strategic Management” Please respond to the following:
- Discuss the importance of innovation in the survival and success of a business. Next, suggest three (3) strategies that you, as an entrepreneur, can use to encourage creativity and innovation in your small business. Provide support for your response.
- Analyze a current or former company for which you have worked, and without revealing the name of the organization, identify one (1) step in the strategic planning process that could use more attention in this business. Explain your rationale.
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Innovation and Strategic Management
Innovation within the business environment largely influences success in achieving organizational objectives. High innovation levels within an organization imply that the employees are always seeking new ways to improve the existing approaches used in achieving the various goals at the company, thereby contributing to an ever-improving level of efficiency in the production process. However, achieving such a state within the company requires that the management takes several measures to ensure that the employees are capable of engaging in creativity and innovation in the course of the business.
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