The Application and Challenges of Innovative Spirit in Enterprise Management

In the age of science and technology, the spirit of innovation has become the key to enterprise development and competition. This paper combines theory and practice to explore the role and challenges of innovation in corporate management. The study focuses on how to develop managers innovative capabilities and their impact on company success. The study adopts a combination of theoretical analysis and case study approach, utilizing Schumpeters theory of economic development and Mintzbergs managerial roles to study Apple under Steve Jobs. Data was obtained from existing literature, corporate case studies and market analysis reports. Studies have found that innovation contributes significantly to market share, competitiveness and corporate culture. Schumpeters theory emphasizes that innovation drives economic growth and positions entrepreneurs as key change agents. However, there are risks associated with innovation, including unpredictable consumer preferences, resource scarcity and regulatory challenges. Internally, innovation can lead to conflict and fear among employees. The study concludes that effective resource allocation, consumer preference surveys, employee development and contingency plans are key to successful innovation. Firms should involve consumers in the innovation process, establish stable supplier relationships, and ensure regulatory compliance. Future research should focus on the innovation strategies of small and medium-sized enterprises (SMEs) to address the unique challenges they face.

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Publication Details

Journal
Advances in Economics Management and Political Sciences
Published
2024-12-26
DOI
https://doi.org/10.54254/2754-1169/2024.18795
Primary Topic
Educational Reforms and Innovations
Type
article
Field-Weighted Citation Impact
0.00
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article

The Application and Challenges of Innovative Spirit in Enterprise Management

Yue Wang
Advances in Economics Management and Political Sciences
Educational Reforms and Innovations
article

The Application and Challenges of Innovative Spirit in Enterprise Management

Yue Wang
article en

Abstract

In the age of science and technology, the spirit of innovation has become the key to enterprise development and competition. This paper combines theory and practice to explore the role and challenges of innovation in corporate management. The study focuses on how to develop managers innovative capabilities and their impact on company success. The study adopts a combination of theoretical analysis and case study approach, utilizing Schumpeters theory of economic development and Mintzbergs managerial roles to study Apple under Steve Jobs. Data was obtained from existing literature, corporate case studies and market analysis reports. Studies have found that innovation contributes significantly to market share, competitiveness and corporate culture. Schumpeters theory emphasizes that innovation drives economic growth and positions entrepreneurs as key change agents. However, there are risks associated with innovation, including unpredictable consumer preferences, resource scarcity and regulatory challenges. Internally, innovation can lead to conflict and fear among employees. The study concludes that effective resource allocation, consumer preference surveys, employee development and contingency plans are key to successful innovation. Firms should involve consumers in the innovation process, establish stable supplier relationships, and ensure regulatory compliance. Future research should focus on the innovation strategies of small and medium-sized enterprises (SMEs) to address the unique challenges they face.

Advances in Economics Management and Political SciencesVol. 136(1)
Sheffield Hallam University (GB)
Industry, innovation and infrastructure
Openalex Percentile: Top 66%
Educational Reforms and Innovations
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The Application and Challenges of Innovative Spirit in Enterprise Management — Yue Wang · Advances in Economics Management and Political Sciences (2024) | TGRS Research Map | TGRS