In: Economics
Contrast the values of leadership and followership for innovation. Choose a unique industry and describe two dynamic examples for innovation.
answer :
There are values, and downfalls in being both the leadership and followership for innovation. As defined in ourreading leadership in innovation is when “firms aim at being first to market, based on technological leadership”Tidd, J., Bessant, J. (2013). Whereas the definition of followership is “where firms aim at being late to market, basedon imitating (learning) from the experience of technological leaders” (Tidd, J., Bessant, J. (2013).
Firms who leadership innovators typically have a strong company mission, strategy and organization that pridesitself on innovation through creativity as well as risk taking.
A company that comes to mind when I think of this is Google. This organization empowers its employees toinnovate new ideas through different programs they have. Google Cafes allow for employees to foster ideas throughcreative workspace and cross working teams to discuss new ideas, challenges and products.