Manage Entrepreneurial Ecosystems
A perfect innovation strategy is worthless if the firm does not have the organizational and entrepreneurial abilities to execute it. Innovations can succeed only when people and teams across organizations, networks and whole ecosystems embrace change and make new things happen. This means being able and willing to experiment, learn and often fail. As managers this also means being able to let others experiment, learn and sometimes fail.
The second innovation management challenge is therefore to foster the right entrepreneurial behaviors at all levels: people, teams, organizations, networks and regional ecosystems.
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