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innovation is crucial to the contuning to the success of any organisation
Answer:
What Is Innovation?
The Oslo Manual, an international reference guide from the OECD for collecting and using data on innovation, defined the concept of innovation as:
“(…) a new or improved product or process (or a combination thereof) that differs significantly from the unit’s previous products or processes and that has been made available to potential users (product) or brought into use by the unit (process).”
Different Types Of Innovation
According to the 4th and most recent edition (2018) of the Oslo Manual, there are four main types of innovation:
Organizational Innovation
Organizational innovation refers to the development of a new organizational strategy that will somehow change a company’s business practices, as well as the way its workplace is organized and its relationship with external stakeholders.
Examples of organizational innovations
- The first companies adopting a four-day week working schedule of only 4 days per week
- The first companies that started to use the power of digital and allowing employees to skip the office and work from home (depending on the role)
Explanation:
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