Description

By Geoffrey N. Soutar

Corporate innovation has not been well studied in Australia. The present study examined the extent and type of innovation in companies listed on the Western Australian Stock Exchange and it identified the high and low innovators by calculating an Innovation Score for each of the 184 companies in the sample. Factors which influence the level of corporate innovation were also determined. Companies with high levels of innovation were found to involve company employees in the innovative process. As in America, venture teams, product champions and creative geniuses impacted on innovative capacity. The input of customers is also a valuable source of ideas for innovation. Management of high innovating companies were committed to innovation, tolerant of risk taking and encouraged autonomous behaviour in their employees. However, successful corporate innovators did not give up formal control. Rules and procedures were also important.

page: 200 – 218
Prometheus: Critical Studies in Innovation
Volume 11, Issue 2

SKU: 0810-90288629354