Why Is Innovation Important to the Manager’s Job?

Success in business today demands innovation. Innovation means doing things differently, exploring new territory, and taking risks. And innovation isn’t just for high-tech or other technologically sophisticated organizations; innovative efforts are needed in all types, all levels, all areas, and all sizes of organizations. You’d expect companies like Amazon, Google, Uber, and Apple to be on a list of the world’s most innovative companies.26 But what about the likes of International Dairy Queen?27 Although, the 78-year-old restaurant chain is not on a list of “most innovative,” it’s experimenting with different formats and approaches to appeal to an increasingly demanding market. Even non-tech businesses need to innovate to prosper. Or how about Kickstarter, which created the crowdfunding phenomenon? Now, it’s looking at ways to better encourage creativity among potential projects and startups and is also expanding its business beyond fundraising into publishing and distribution. In today’s challenging environment, innovation is critical and managers need to understand what, when, where, how, and why innovation can be fostered and encouraged throughout an organization. In a presentation a few years ago, a manager in charge of Walmart’s global business explained his recipe for success (personal and organizational): continually look for new ways to do your job better; that is, be innovative. Managers not only need to be innovative personally, but also encourage their employees to be innovative. We’ll share stories of innovative practices and approaches throughout the book.

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