Submitted by: Submitted by masenguus
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Words: 4624
Pages: 19
Category: Business and Industry
Date Submitted: 06/25/2014 11:59 AM
Innovation Business Research
Table of content:
Introduction 2
Question: 2 2
Question: 3 6
Question: 4 10
Question: 5 13
Question: 6 13
Question: 7 14
Question: 8 16
References 17
Introduction
In today’s global world, change is inevitable and the developmental process is now very minimal. In some industries, like technology, innovation leadership is a prerequisite as every day new innovative products are released and in other industries, it is not very prevalent. Innovative leaders always stand up for innovators and challenge the status quo.
In general however, it is the survival of the best innovators, who are able to proactively provide solutions to the customer’s current challenges, through affordable products/services before the rest of the industry realize it. It is thus the provision of products and services to enable customers to perform tasks better than they previous did or could not. Strategies are now built around efficiency and effectiveness of production processes, product differentiation, marketing strategies, all driven by innovation. Flexible organizations are more agile and more quickly adaptable to turbulent and changing conditions in the innovation market and environment (Yetkiner, Hakan, Teoman, and Erkan 2012). In a way leaders who focus on innovation may be in a position to realize future opportunities as market leaders in product and service development. In regard to the above, does this lead to a conclusion that the innovation focused leaders are effective leaders to steer the company into success for all stakeholders, the answer may be negative. There are a number of traits and attributes a leader must have to complement innovation and turn successfully the organisational prospects into the future (Yukl, 2013). True innovation leaders tend to share the same determination, i.e. they are unafraid to risk their credibility with top management in case of failure. In addition, employee resistance to innovations, inadequate...