A recent email from Harvard Business School does a nice job of summing up the efforts of its faculty to discover what companies can do to increase their capacity for innovation. Some of these findings have already been written about in this blog, while others are new. Here’s how the researchers suggest managers can do a better job of creating and managing innovative ideas:
1. Prizes make a difference. Today, the best-known prize for innovation is probably the Ansari X Prize, which offered $10 million for the first privately funded manned spacecraft that could break through the earth’s atmosphere within two weeks. There are other X Prizes now being offered for designing fuel-efficient cars, reaching the moon, and sequencing the human genome. But skeptics claim that these prizes don’t spur people to create things they wouldn’t have created anyways-they just reward existing behavior.
To read the full, original article click on this link: 5 Ways to Foster Innovation | BNET
Author:Kimberly Weisul
