TITLE:
What Drives Innovation within a Business
AUTHORS:
Zhangyi Hou
KEYWORDS:
Innovation, Within a Business, Business Innovation, Creative, Advancement
JOURNAL NAME:
Open Journal of Business and Management,
Vol.12 No.2,
March
20,
2024
ABSTRACT: This paper investigates the contributing factors for
the start of innovation and what drives innovation from within a business. Key
elements regarding the type of innovation are defined in relation to a narrower
concept. It highlights the role of competition in motivating businesses to
think outside the box and develop new ideas. It also discusses the importance
of internal factors such as reconfiguration of a company’s message and changes
to products, processes, marketing, and organization in driving innovation. The
abstract emphasizes the significance of research, understanding the market, and
human capital in generating innovative ideas. This paper also mentions the
importance of collaboration and learning culture in fostering innovation within
businesses. It connects existing research to have a better understanding about
the factors of innovation from inside a company and draws conclusions from
them. Overall, it provides an overview of the key factors and strategies that
contribute to innovation within businesses.