Organisational Characteristics that Facilitate Innovation

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Information about Organisational Characteristics that Facilitate Innovation
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Published on November 16, 2018

Author: gcmohanta29

Source: authorstream.com

Organisational Characteristics That Facilitate Innovation: Organisational Characteristics That Facilitate Innovation Dr. G C Mohanta , BE( Mech ), MSc( Engg ), MBA, PhD(Mgt) Professor Al- Qurmoshi Institute of Business Management, Hyderabad - 500005 Organisational Characteristics that Facilitate Innovation: Organisational Characteristics that Facilitate Innovation The following are the Organisational Characteristics that Facilitate Innovation: 1. Growth orientation - Commitment to long term growth than short term profit. Companies seeking growth are likely to be more interested in innovation. 2. organizational heritage & innovation experience - Company wide recognition/culture realizing the value of innovation. Organisational Characteristics that Facilitate Innovation (Contd.): Organisational Characteristics that Facilitate Innovation (Contd.) 3. Vigilance and external links - Ability of the organisation to be aware and alert of threats and opportunities. Maintaining external linkages with the market, competitors, customers, suppliers and network individuals, contributes to the flow of information. 4. Commitment to technology and R&D intensity – Willingness to invest in long term development of the technology and innovative output. Patience required, allowing ideas to develop over time. 5. Acceptance of risks - Willingness to include risky opportunities in balanced portfolio, i.e. range of projects that have varying degrees of risk. Organisational Characteristics that Facilitate Innovation (Contd.): Organisational Characteristics that Facilitate Innovation (Contd.) 6. Cross-functional cooperation and coordination within organizational structure - Mutual respect among individuals and willingness to work together across functions despite obvious differences, e.g. marketing/R&D functions/finance. 7. Receptivity - Ability to be aware of, identify and take advantage of externally developed technology. May need licensing arrangements/joint ventures/ strategic alliances. 8. Space for creativity - Accommodating need for ‘slack’ – time and room for individuals to think, experiment and be creative. Organisational Characteristics that Facilitate Innovation (Contd.): Organisational Characteristics that Facilitate Innovation (Contd.) 9. Strategy towards innovation - Recognition that the organisation’s skills, technology and knowledge are suited to appropriate markets.  Planning &  a project portfolio approach required. 10. Coordination of a wide range of skills -Developing a marketable product requires combining a wide range of specialized knowledge. Core of fostering innovation is ability to manage the diversity of knowledge and skills.

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