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Chapter 12 - Business Innovation

from Part III - Implementation

Published online by Cambridge University Press:  17 August 2023

Stephen K. Reed
Affiliation:
San Diego State University
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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.

Type
Chapter
Information
Encouraging Innovation
Cognition, Education, and Implementation
, pp. 143 - 156
Publisher: Cambridge University Press
Print publication year: 2023

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  • Business Innovation
  • Stephen K. Reed, San Diego State University
  • Book: Encouraging Innovation
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009390408.016
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  • Business Innovation
  • Stephen K. Reed, San Diego State University
  • Book: Encouraging Innovation
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009390408.016
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Business Innovation
  • Stephen K. Reed, San Diego State University
  • Book: Encouraging Innovation
  • Online publication: 17 August 2023
  • Chapter DOI: https://doi.org/10.1017/9781009390408.016
Available formats
×