{"id":20,"date":"2013-11-18T00:11:03","date_gmt":"2013-11-18T07:11:03","guid":{"rendered":"https:\/\/blogs.ubc.ca\/ryanmcphee\/?p=20"},"modified":"2013-11-18T00:11:03","modified_gmt":"2013-11-18T07:11:03","slug":"innovation","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/ryanmcphee\/2013\/11\/18\/innovation\/","title":{"rendered":"Innovation"},"content":{"rendered":"

After reading Mariska Aloudella’s blog<\/a> about how she believes Google Docs was going to overtake Microsoft\u2019s strong foothold in the productivity\u00a0<\/i>market, it made me think about what causes businesses to fall to their competitors. \u00a0Businesses often fail due to a lack of innovation but what aspects of a corporate culture breed innovation? \u00a0Many firms have success in innovation when their employees are encouraged to try new things and be experimental. \u00a0Innovation fostering cultures are ones that see value in intrinsic reward systems for employees, encouraging them to stay involved and absorbed\u00a0in their work.\u00a0 They don\u2019t necessarily compensate for ideas but realize how important it is to keep employees engaged, and recognize innovative ideas.\u00a0 A sustainable competitive advantage comes from ensuring innovation is part of its culture and operations, not an erratic process with only occasional success.<\/p>\n

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How can one company shift to nurture innovation?\u00a0 If senior management adopts the viewpoints above and not only speak about it but put them into action, the company will have greater success.\u00a0 They need to develop a less rigid company structure, appreciate new ideas, acknowledge mistakes may happen and give employees the tools and the power to put their ideas to work.<\/p>\n

(199)<\/p>\n

Sources:<\/p>\n

http:\/\/www.businessweek.com\/articles\/2013-10-23\/jumpstart-innovation-by-transforming-corporate-culture<\/p>\n

Will Google Docs kill off Microsoft Office?<\/a><\/p><\/blockquote>\n