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Innovation
Abstract
Organizations globally must expect severe competition for at least the next decade, and there is unanimous agreement that sustainable innovation is the quintessential challenge for all organizations – without it organizations must flounder and perish. In this chapter, theory and practice are explored to specify the vital underpinnings of successful innovation, including the critically important organizational property of absorptive capacity which is largely based on leadership, participative and open culture, and knowledge management. Strategic topics such as the knowledge based view, open innovation, and the pros and cons of ‘innovation’ orientation and ‘imitation’ orientation are discussed, together with the importance of supply chain innovation. Details of the practical role Communities of Innovation (CoInv) serve are clarified, together with explanations of why identifying and leveraging the influence of innovation champions and opinion leaders is essential to success. The concepts of Learning-to-Innovate and Innovating-to-Learn are also discussed.
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