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The Challenge of Fostering Innovation for Subsequent Growth
Introduction
Every business holder, at some point, faces the challenge of fostering innovation for subsequent growth. Although the innovation process is different in various industries, the academic community suggests some strategies that are considered generally useful.
Discussion
Brimhall and Mor Barak assume that a climate for the inclusion of employees is associated with a greater propensity to promote and maintain innovations (488). This tendency of decentralization and trust towards subordinates prosper both in politics and business because extensive evidence suggests positive outcomes of delegation and inclusivity. In terms of concrete measures, entrepreneurs should promote transactional leaders who will make an effort to create a calm and welcoming atmosphere in which everyone is heard and respected. In the opposite situation, employees may feel alienated, so the overall perception may fall into apathy.
Another important problem for businesses in the modern market is a significant slowdown in the growth of small companies after reaching a certain quality level. In other words, the company seems to lose motivation to develop after achieving tangible results. One of the possible problems is an oligopoly or a highly competitive nature of the industry, which makes any innovations useless. Although the competition may not be tense at the local level, the regional, national, or even global market may pose irresistible difficulties because of economies of scale. Another barrier is the inability to hire enthusiastic employees whose values and engagement apply to the companys principles. The reason is that during the first steps, the founders passion may motivate others around, while through time, such a personal passion may disappear.
Conclusion
Therefore, an inclusive environment that welcomes the active participation of everyone may be a great solution for maintaining innovation.
Work Cited
Brimhall, Kim C., and Michálle E. Mor Barak. The Critical Role of Workplace Inclusion in Fostering Innovation, Job Satisfaction, and Quality of Care in a Diverse Human Service Organization. Human Service Organizations: Management, Leadership & Governance, vol. 42, no. 5, 2018, pp. 474-492.
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