Companies spend a lot of money to increase the innovation capability of their staff, hoping thereby to get the competitive edge. Increasing the innovation capability of the organization is an important aspect, but it is not good enough for the company in terms of getting the competitive edge.
Having built the innovation capability, management needs to recognize the ideas which have higher potential to succeed and yield better returns among the other new ideas. Even recognizing is of not much use if the management cannot find ways to get these ideas implemented within a certain time and money.
Tuesday, December 16, 2008
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