Question

How can a company encourage innovation? Give several examples of companies that have been innovative.

plaese the answer must be with interduction,body and coclution withe 400 words.

Answer 1

Smart leaders have to maintain a competitive edge with the industries to be in this list before it is necessary for the company improves its offer and how it will operate .

So, how does the company encourage innovation?

1) Encourage alternative point of view: There is an alternative way to solve a problem, but it becomes more necessary to find most effective way. Looking for unique ways and alternative ways to solve the problems make the organisation vibrant and more open to ideas.

2) Inspire people to voice their opinion: Most of the ideas come from the employees and rest of them generated from top management, ask your employees how can you improve and then they suggest you how they can improve the operations.

3) Reward innovative ideas: When employees introduced fresh ideas that implemented  in the company, give them reward and public recognition will make them feel happy and develop a sense of competition.

4) Model and Promote fearless behaviour: If you want employees to feel safe trying out to get fresh ideas, they need to get assured that any mistakes that they will make it won't affect them. The most recent way to get innovative idea is to handle the risk in the model way. Mistakes provide an opportunity for learning and making things more clearly.

Several examples of such companies :

NIKE

GOOGLE

AMAZON

These three companies are best example for innovation till now.

Conclusion:

survival in this competitive world is to be innovative and creative because it helps the company to develop their markets, which leads to bigger opportunities it increases the standard of living and helps people to improve their lives instead of living it in same and old way.It improves productivity, reduces the cost , increase competitiveness and improved brand recognition and value .

Thankyou!