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Fostering innovation

Course video 52 of 78

Thanks to mature communications and transportation networks, it has never been easier for low cost producers to market low priced products and services all over the world. Because of this, companies -- especially those not located in low cost regions -- need to innovate, in order to keep offering products and services that are better, even if they aren't cheaper. In the 21st century, the capacity to innovate has become extremely important to business success. And it's the leader's job to create the conditions in which her or his people can innovate effectively. A leader must espouse principles, processes, and practices that allow the organization to innovation better than its rivals. How to do this? How would YOU do it?

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