Fostering Innovation in Organizations with the Help of Novel Management Strategies

Abstract

In this information era, innovation is among the most important factors for an organization to increase its performance. In this chapter, it is explored how to improve the business innovation in organizations effectively by using suitable management strategies in an emerging economy selected as Turkey. Among many strategies set and implemented for the ease of innovation, in this chapter, it is revealed that some have more direct and efficient effects. Among these strategies and practices there exist, strategic and innovative human resource management, goal setting for innovation, supporting employee creativity, empowering employees for innovation, developing effective organizational communication, leading for innovation, building an innovative organizational culture and establishing teams for innovation. These practices are derived from the selected Borsa Istanbul (BIST) Companies in Turkey. Strategies of five companies which are indexed in BIST30 and BIST Sustainability Index, and additionally, which are all candidates of innovation leader in their sector, were taken as examples reflecting the innovative atmosphere in Turkey.

Citation

Doğru, Ç. (2021), "Fostering Innovation in Organizations with the Help of Novel Management Strategies", Dinçer, H. and Yüksel, S. (Ed.) Strategic Outlook in Business and Finance Innovation: Multidimensional Policies for Emerging Economies, Emerald Publishing Limited, Leeds, pp. 173-183. https://doi.org/10.1108/978-1-80043-444-820211016