- Is innovation critical to an organization's success? Why or why not?
- To what extent do culture and value systems impact an organization's ability to achieve competitive advantage through innovation?
- What are the possible disruptive factors in the IT industry that you can think of? What opportunities do they present for innovation?
Innovation is absolutely critical to the success of an organization especially in today's business environment where globalization and rapidly changing markets and technologies increasingly require organizations to generate new knowledge to remain competitive. To create this key source of competitive advantage, embrace innovation, and improve bottom-line results, today's organizations must develop better capabilities for knowledge management and become learning organizations (Albert, 2006).
The innovative organization is one whose culture supports innovation. Such a company has a vision and strategy for innovation that it continuously refreshes and keeps current. An innovative organization, in other words, is open to change and all the opportunities for innovation it brings. An inflexible, entrenched culture by contrast, strongly resists change, a primary factor that is absolutely necessary to innovation. Such a culture keeps to what it knows and its tried and true values rather than looking for new ways to do things.
Intelligent and flexible decision making that has the power to transform the organization and increase its chances of success results from ongoing organizational learning. In an innovative organization such learning takes place both in the exploitation method (enhancing and perfecting existing products and procedures) of learning and the exploration method (seeking ...
This is a discussion of the need for Innovation in IT including the extent that culture and value systems impact an organization's ability to achieve competitive advantage through innovation.