Innovation Culture And Innovation

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Innovation is a part of American culture. Not only does an open market feed innovation, innovation feeds the open market and opens vast opportunities for anyone willing to put forth the effort to create a product or idea to fill a gap. The innovative process, however, is like a young sapling. Without the proper environment to encourage and pursue innovation, the process can become a struggle for managers and business leaders. In order to nurture the process, leaders must foster an atmosphere in which innovation is encouraged and recognized. This ideology is not lost at Colorado Springs’ up-and-coming Triple S Brewing Company. The organization, at a mere six months since opening, encourages innovation through open communication, valuing…show more content…
Experience, however, can be an indispensable asset in older professions and industries. Berlingieri (2016) notes a strong, specific link between experience in brewing, and the success of the company for which she works. Balsmeier & Czarnitzki seem to agree with this. They found and indirect, yet tangible link between management experience and innovation culture, though familiarity with market anticipation (Balsmeier & Czarnitzki, 2014). The experience to which these two parties refer assists in navigating uncertainty, as well as offering a seasoned approach to the specific product. This, in turn, mitigates some of the risk associated with a new…show more content…
Sometimes a product will test well, yet the final product will not succeed. Some notable examples of this are Crystal Pepsi, Coors Spring Water, New Coke, and Microsoft Zune (Frohlich, 2014). These examples represent large sunk costs for organizations, and if the organization is not sufficiently stable, from a financial vantage, the company could fail. Other times, a great new product can be conceptualized, yet fail to produce a working proof of concept. Through the aforementioned concepts of communication and experience are instrumental to avoiding such pitfalls, and ensuring that quality ideas manifest a workable
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