MANAGING in the

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In order to excel at business innovation, it is well known that creative thinkers need to be at the forefront. In order to recruit and retain such people, it is essential to have proactive talent management practices at the firm. This includes a variety of methods such as involving them in decision making, flexible work schedules, health and retirement benefits, safety protocols and diversity in the workforce. Economists have long cited the granting of patents as proof of innovative business practices. It is pointed out that Google developed applications such as Earth or Gmail thanks to the initiative which allowed workers to delve into creative aspects for certain part of their overall time logged. However, patents alone without any tangible business benefits does not prove that such practices yield practical benefits. Thus the KLD Socrates database was tracked and it was found out that within few days of new patents being granted, the stock market invariably showed a rise in value for the concerned firms clearly stating that it provides unbiased, tangible benefits to those organizations.

Source:http://www.strategy-business.com/blog/Want-an-Innovative-Culture-Be-Kind-to-Your-Creative-Thinkers?rssid=all_updates&gko=c5c13&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+StrategyBusiness-AllUpdatesFullPics+%28strategy%2Bbusiness+-+All+Updates+%28Image%2FSyndication%29%29

 

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