Critical success factors of innovation and creativity for global entrepreneurs

Authors

Flevy Lasrado, University of WollongongFollow

RIS ID

116455

Publication Details

Lasrado, F. 2018, 'Critical success factors of innovation and creativity for global entrepreneurs', in L. Kaushal & N. Zakaria (eds), Global Entrepreneurship and New Venture Creation in the Sharing Economy, Business Science Reference, United Kingdom. pp. 75-91.

Abstract

Innovation, is a subject of considerable interest for entrepreneurs. They share a keen interest in learning how to foster innovation and creativity in ways that help firms to create increasing amounts of wealth. Research on innovation and creativity has increased ever since they were considered to be the key to building a competitive advantage. In fact, it is a challenge for organizations to sustain innovation. In this chapter, we explore the factors that entrepreneurs should address to channel innovation in their organizations. Entrepreneurship, on the other hand, requires the funneling and implementation of creative ideas, leading to innovation. This chapter is particularly relevant to global managers seeking to identify inhibitors of creativity and business innovation and how to combat the roadblocks and create a sustainable innovation environment. The chapter discusses the three essential components that must be considered to spur innovation. We highlight the best practices associated with these factors through a case study of three organizations.