Success stories of innovators must be disseminated

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: of the high societal value of business and innovation and the associated commercial success. As mentioned by Prof. Gary Hamel 14 , “the conscious misfit between aspirations and resources creates innovation and entrepreneurial energy”. Success stories of innovators must be disseminated, highlighting their achievements and thus providing a role model 15 and also helping in incentivising innovation by getting the on-lookers to raise their aspirations. Access to funding as well as expertise will also help in reducing the risk-aversion that is prevalent. The fact that radical innovation is one of the major sources of differentiation needs to be emphasised. This realization, coupled with a restored confidence in the IP protection and implementation mechanism will go a long way in reducing the risk-aversion to radical ideas which challenge the status quo. 13 Tom Kelly & Jonathan Littman (2005), The Ten Faces of Innovation Speech at Fortune Innovation Forum, November 2006 15 Overcoming Hurdle of Lack of Champions to emulate,...
View Full Document

This document was uploaded on 01/14/2014.

Ask a homework question - tutors are online