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Myths about Innovation
By siliconindia
Fremont: As is fertilizers required for good crops, so is innovation for a healthy organization. Indeed the creation of new products, services, processes and profit models fuels the growth not just of companies but also of national and global economics. However, there are several myths about innovation echoing down corporate hallways. This slows down the process of growth and competency of the company to survive for long.
We highlight few such statements that are purely myth and can be reviewed to pursuit to master innovation.
It is the Job of the CEO's
A common perspective among many people is that innovation and strategy making is the job of CEO alone. Infact, people tend to look upon the hierarchy and top management for direction in the area of innovation. It has become a very common model in which the top management plans and comes up with strategies and the bottom executes it.
This is a false assumption. Innovation is not a key with top management alone. Rather, the bottom level, who are more closely in touch with the customer can come up with big innovative ideas and strategies as they better understands the changes in the market and the taste of customers.
