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Business Management (Course-Innovation Management) topic- innovation culture

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Business Management (Course-Innovation Management) topic- innovation culture

To be competitive, an enterprise organization must have an exceptional understanding of

the market, an innovative development plan, a value-driven consumer orientation, a strategy that

facilitates digital transformation not just from a technology point of view but also, most

critically, from a culture point of view. Creating and fostering a corporate innovation culture is

one of the five pillars of Global Innovation Management. Therefore, developing initiatives for

corporate innovation culture is important for numerous reasons. As the Chief Innovation Officer

of a large high-tech company that never developed an innovation culture, the main action I will

take to develop the corporate innovation culture would be using the attributes of

Research showed a powerful connection between the right corporate culture and its

propensity to be innovative and entrepreneurial. Some cultures are pro-entrepreneurship, while

others are counter-entrepreneurship. It is essential to identify some of the values around which to

create an entrepreneurial culture. The first initiative will involve the use of Innovations from the

top and upper-level management, which must provide long-term strategies and challenging goals

for the company's innovation. Constant promotion of innovation and intrapreneurship will be

another important initiative where the company will encourage new ideas and new ways of doing

things at all levels and promotes risk-taking. Using flexibility and adaptability will be another

initiative where the company will not have a hierarchical structure but rather a flat system. The

innovation process involves different teams of workers, not different levels of management.

Using Collaboration and teamwork initiative, the company will encourage teamwork and

collaborative innovation of cross-functional and cross-departmental teams. Ongoing learning

workers will be expected to continuously improve their skills and continually learn new ones as

an innovation culture initiative. Tolerance for failure would be another critical initiative. Since

some innovations might fail to bear fruit, the company must accept failure as part of the
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innovation process to keep entrepreneurs free from the fear of failure. As an initiative,

empowerment will foster the development of new ideas among staff and remove the fear of

reprisal.