Innovation refers to the development of new tools and procedures that create new products or generally make systems more efficient. Businesses that can harness innovation can become more effective in many ways. Managers can support innovation by providing formal or informal systems that encourage creative thinking and the confidence to support new breakthroughs. For example, Google encourages innovation by allotting employees time each week to work on projects that they are personally interested in.
Thinking Outside the Box: Strategic Innovation
By Michael Filtz on Jul 07, 2020
How executive education courses can help leaders see through the inherent risk in innovative thinking