Innovation takes dedicated effort and resources

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Question

Innovation takes dedicated effort and resources, and organizations that are successful at it tend to be set up in ways that naturally foster innovation. An innovation system is a coherent set of interdependent processes and structures that dictates how a company will search for novel problems and solutions, synthesize ideas into a business concept and product designs, and select which projects ultimately get funded. This activity is important because managers need to understand how to nurture and support the innovation process if they are to be successful at innovation.

Reference no: EM134042377

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