Alleviation: An International Journal of Nutrition, Gender & Social Development, ISSN 2348-9340
Volume 2, Number 2 (2015) : 1-7
©Arya PG College, Panipat & Business Press India Publication, Delhi
www.aryapgcollege.com, www.apcjournals.com

Success Factors for Innovative Management

Dr. Jagdish Gupta
Principal, Arya PG College, Panipat (Haryana), India
E-mail: jagdishgupta65@gmail.com

Abstract

We live in a world that is growing at a high speed and heading towards competition. Innovation is needed not only to compete and grow but to survive in a global economy. Innovation by definition implies breaking new grounds, introducing new concepts and technologies. Innovation takes place in many forms i.e. new ways of organizing work, new business models and innovation in design or marketing. All these kinds of innovations represent a major challenge. For successful innovative management, few important things should be taken care of e.g. Setting of goals, avoiding shortcuts, no compromise on work, developing positive attitudes, avoiding selfish motives, providing human touch, managing change, taking risks, respecting deadlines, facilitating team work, establishing effective working relationships, rewarding loyalty, providing support network, building managerial effectiveness, using e- learning, using right approach for solving problems, fostering creativity and autonomy, building new capabilities , maintaining climate of trust, optimizing the efforts, removing barriers, sharing gain and profit and making realistic expectations etc. It is necessary that a manager should develop such a mindset that helps her/him to function in all types of environment. They should be adequately trained and equipped to handle the new challenges and responsibilities. They should be knowledgeable professionals. Knowledge is the key to drive value from new technologies and processes. They should continuously learn to adopt new practices.

Keywords: Innovation, Taking Risks, Facilitating Teamwork, Fostering Creativity and Autonomy.