Book contents
- Encouraging Innovation
- Encouraging Innovation
- Copyright page
- Dedication
- Contents
- Preface
- Part I Cognition
- Part II Education
- Part III Implementation
- Chapter 11 Linking Theory to Practice
- Chapter 12 Business Innovation
- Chapter 13 Social Innovation
- Chapter 14 Organizational Support
- References
- Name Index
- Subject Index
Chapter 12 - Business Innovation
from Part III - Implementation
Published online by Cambridge University Press: 17 August 2023
- Encouraging Innovation
- Encouraging Innovation
- Copyright page
- Dedication
- Contents
- Preface
- Part I Cognition
- Part II Education
- Part III Implementation
- Chapter 11 Linking Theory to Practice
- Chapter 12 Business Innovation
- Chapter 13 Social Innovation
- Chapter 14 Organizational Support
- References
- Name Index
- Subject Index
Summary
An influential measure of innovation developed by the Drucker Institute provides an annual ranking of companies based on the principle that innovation creates resources for building new and greater wealth. Predictors that underlie the creation of wealth include research and development spending, hiring in cutting-edge fields such as robotics and artificial intelligence, the number and value of patents, customer satisfaction, and employee engagement. Innovation requires overcoming various constraints such as insufficient funding and a lack of time to complete goals. Leaders can become amplifiers by engaging followers, possessing the kind of knowledge that fits corporate needs, and avoiding cognitive entrenchment – knowledge stability that causes experts to be inflexible in their thinking. The dynamic problem-solving model synthesizes a variety of theoretical constructs such as the types of constraints on problem solving, the distinction between a problem-first and an idea-first approach to invention, and the zigzag pathway to creativity.
Keywords
- Type
- Chapter
- Information
- Encouraging InnovationCognition, Education, and Implementation, pp. 143 - 156Publisher: Cambridge University PressPrint publication year: 2023