Encouraging and building innovative organizational environments is important.

Innovative Entrepreneurial Environments

Encouraging and building innovative organizational environments is important. Companies that fail to innovate, soon may fail to exist, such as Polaroid, Borders Books, and Toys-R-Us, among others. Too many times stakeholders with innovative ideas and processes don’t speak out. Organizations, especially entrepreneurial ventures need to; set explicit innovation goals, create a system of feedback and positive reinforcement, emphasize individual responsibility, provide rewards for innovative ideas and not punish failure.

Is your current or a former organization creating an innovative, entrepreneurial environment?  What processes are or were in place for stakeholders to share new ideas? Fully explain your response and share with others in the course how organizations can encourage innovation.

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