Question

Why is innovation in management practices important?

Why is innovation in management practices important?

Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Below is why innovation in management practices is important -

1. Innovation brings in new practices, processes etc. for better.

2. Innovation helps the firm in both continuous improvement as well as radical improvement.

3. Innovation helps in competing with other firms in the marketplace.

4. As management practices are about managing resources, finances, operations, technologies and processes etc., the firm needs to ensure it is catching up with the latest trends in the market to remain relevant and esnure sustainability.

5. To manage human resources effectively and retain them through new policies and benefits.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
INNOVATION PROCESS IN ENTREPRENEURSHIP What is a value innovation? Why is it important? Find and describe...
INNOVATION PROCESS IN ENTREPRENEURSHIP What is a value innovation? Why is it important? Find and describe an example of a value innovation. Explain why that value innovation changes the way firms in an industry do business or will do business in the future.
Why is it important to make recommendations for improving working practices?
Why is it important to make recommendations for improving working practices?
What is your analysis of the state of the field of innovation management? Describe important issues...
What is your analysis of the state of the field of innovation management? Describe important issues or current dilemmas in the field along with identifying gaps in knowledge that deserve further research. It is one or more of these gaps that lead to a research topic.
1.Explain why it is important for sellers to consider the ethical implications of their pricing practices...
1.Explain why it is important for sellers to consider the ethical implications of their pricing practices even if these practices are completely legal.
why is it important in an organization to have good human resource practices. (100 words)
why is it important in an organization to have good human resource practices. (100 words)
Summarize the measurement and knowledge management practices for performance excellence, and explain the importance of performance...
Summarize the measurement and knowledge management practices for performance excellence, and explain the importance of performance measurement in organizations who work directly with suppliers. How do they measure performance? What important factors come into play when implementing management practices?
Some researchers argue that quality management processes can inhibit innovation. Why might this be so? What...
Some researchers argue that quality management processes can inhibit innovation. Why might this be so? What do you think?
Why is cash management important for firms?
Why is cash management important for firms?
What is strategic management and why it is important?
What is strategic management and why it is important?
why is it important that project management skills be applied?
why is it important that project management skills be applied?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT