The Importance of Creating Innovation Culture in an Organization

2332 Words9 Pages
INTRODUCTION The modern business culture must, by necessity, be fluid if it is to succeed globally. There is interaction between employees, between stakeholders, and between global environments. In fact, this environment is formed through multiple interactions between the strengths, weaknesses and opportunities presented through the organization's unique culture. Since truly the one constant in business is change, it is how we adapt to such changes; as individuals and part of groups, that helps manifest behaviors as he culture evolves. Indeed, many believe that one of the templates that make up this fluidity is the concept, even more popular in the late 20th and early 21st centuries, of mergers and acquisitions (Horibe, 2001). Mergers and Acquisitions (M&A) typically refers to a corporate fiscal and strategic set of strategies that deal with the purchasing, selling, and/or combining of different companies or pieces of companies that are able to help grow a company or experience rapid innovation with either creating another business entity or investing research and development from the ground up (Hennepopf, 2009). Modern organizations are so highly complex and competitive that the old paradigm improving efficiency and the bottom line improves, is no longer all it takes to be successful. Companies must continue to reinvent themselves, put Board egos aside and look at the marketplace, their expertise, and what they can do to retain market share. With technology changing so
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