The churn rate of innovation has become constant with the emergence of globalization and technological advancements. The ability for organizations to maintain competitive advantage stems from many different veins; however, modern perspective and strategies indicate that for long-term sustainability, firms are scaling outside of their market (blue ocean strategy) or competing within their market (red ocean strategy). Both approaches require organizations to apply non-traditional practices to advance their strategic portfolio. These methods are centered around innovation from disruptive to fast-second and many other innovation methods. Essential components are needed to ensure these innovation strategies can transition ideas into action leading to positive change. The following article provides a framework for leaders to measure organizational capacity for innovation.
{"title":"Fostering a Culture of Innovation: A Framework for Understanding Organizational Capacity for Innovation","authors":"Aeron Zentner, S. Homestead, Raissa Covit","doi":"10.2139/ssrn.3189657","DOIUrl":"https://doi.org/10.2139/ssrn.3189657","url":null,"abstract":"The churn rate of innovation has become constant with the emergence of globalization and technological advancements. The ability for organizations to maintain competitive advantage stems from many different veins; however, modern perspective and strategies indicate that for long-term sustainability, firms are scaling outside of their market (blue ocean strategy) or competing within their market (red ocean strategy). Both approaches require organizations to apply non-traditional practices to advance their strategic portfolio. These methods are centered around innovation from disruptive to fast-second and many other innovation methods. Essential components are needed to ensure these innovation strategies can transition ideas into action leading to positive change. The following article provides a framework for leaders to measure organizational capacity for innovation.","PeriodicalId":415146,"journal":{"name":"Chicago Booth MICRO: Competitive Strategy (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128158765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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