It has been found that for the sustainability of the leading position in current corporations, the corporate innovation plays a vital role. Yet most of the companies found in trouble regarding the successful implementation of corporate innovation. A recent research conducted by Accenture with over 500 executives as respondents which concluded with a result that more than 50% report a poor innovation process, and around 18% trust their own innovation strategy as a source of leading advantage over the rivals.
The research by the authors on corporate entrepreneurship and innovation reveals four major issues regarding the implementation, which corporations are not evaluating or tackling effectively. It helps to figure out the causes of lacking in developing a successful corporate innovation strategy, when they effectively recognize and respond to these issues.
Those four implementation issues are: (1) determining the actual kind of innovation that is being sought, (2) communicating managerial responsibilities, (3) the most appropriate utilization of operating powers, and (4) a complete training and preparations of employees. It would lead to building a successful innovative culture in any firm, if these four issues are properly understood and tackled.
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