The paper "Meaning of Innovation and Leadership Innovation" is an engrossing example of coursework on business. Currently, every business is obsessed with innovation. However, in reality, the key instrument to achieve growth strategies to enter expanding markets, boost the firm`s market share, and which offers comparative benefit is innovativeness (Gunday, Ulusor, Kilic, & Alpka, 2012). Due to the increased competition in global markets and technological advancement, innovations have emerged to be key drivers of organizations wishing to remain competitive. Most firms operating in developing markets are looking for what will enhance their growth.
Therefore, it is the responsibility of every manager to work and create an innovative culture in his or her industries. Creating an innovative work environment means more than forming a mission statement or setting rules and regulations to follow. It is creating a culture within an enabling environment that will motivate employees to be more creative. Innovation is a process that is founded on the action, and therefore, it is up to organizational leaders to strategize in order to realize an innovative work environment and work on the strategies to achieve the desired outcome.
The discussion examines the deeper meaning of innovation and leadership innovation, methods managers can apply to motivate innovation among employees, types of innovation, and challenges associated with and benefits derived from engaging stakeholders. What is Innovation? In its definition, the word innovation is part of creativity. According to Fuglsang (2008), innovation consists of two integral parts whose interaction is critical. The first part is new appropriate ideas, and the other part is an invention created in a creative means. Therefore, innovation can be defined as the creation and implementation of new processes, products, and services and methods of delivery, which give a critical improvement in outcomes, efficiency, effectiveness, or quality (Fugslang, 2008).
This is why any business is experiencing hardships or volatility in the market believes that creativity can deliver a magic solution. Every organization is working tirelessly to find the next big thing in their expectation before its rivals. Ernst & Young Company is a good example of companies obsessed with innovation. They spend hours working on ergonomics and psychology of innovation and creativity in order to turn ideas into facts (Jolly, 2003). Methods used to Encourage Employees to Innovate As business integrates further into global markets, leaders need to foretell their competitive outlook and quickly adapt innovative plans to be ahead of their competitors (Holbeche, 2005).
In order for leaders to create an innovative work culture in their organizations, they have to employ innovative leadership strategies. Innovative leadership is a collection of practical evolution plans that a firm adopts to create a culture of innovation, enhance innovation leaders, increase efficiency, and develop innovations. The philosophy of innovation leadership is that success in the implementation of innovations is expanded when leaders cooperatively interact with their employees and develop high levels of teamwork that offer chances to share ideas (Watkins & Leigh, 2009).
Different studies in innovation management have shown that the best sources of innovation are employees regardless of their department affiliations. The key driver of nurturing innovations in any organization is introducing a culture that motivates ideas to grow. Employees in every organization require the availability of a flexible working process, efficient working team, open, reliable and democratic mangers, reduction of political behaviors, innovative career track, a manageable workload, and capacity building and opportunities for developing their talents (Holbeche, 2005).
Leaders must learn how to manage the innovative process and not creativity itself since innovations cannot be forced out of people, but it results in the mind of an individual from the interaction with the social context where it is codified, integrates, and interpreted to a new idea. Therefore, managers should work to create conditions that will facilitate the emergence of ideas. The following are some ways, which managers can use to motivate employees:
Berger, I. W. (2008). The challenges of innovation - Businessweek. Retrieved from http://www.businessweek.com/stories/2008-08-22/the-challenges-of-innovationbusinessweek-business-news-stock-market-and-financial-advice
Creating a Culture for Innovation | Incremental Innovation. (2012). Retrieved from http://www.incrementalinnovation.com/innovation-management-development/culture-innovation
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Gunday, G., Ulusoy, G., Kilic, K., & Alpka, L. (2012). Effects of innovation types on firm performance. Sabanci University, Faculty of Engineering and Nat ural Sciences.
Holbeche, L. (2005). The high performance organization: Creating dynamic stability and sustainable success. Oxford: Butterworth-Heinemann.
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