ISSN:
0957-6061
Source:
Emerald Fulltext Archive Database 1994-2005
Topics:
Mechanical Engineering, Materials Science, Production Engineering, Mining and Metallurgy, Traffic Engineering, Precision Mechanics
,
Economics
Notes:
Puts forward the view that the creative and innovative process with which wealth is created should also belong to the innovators, not just the financial investors. Innovation processes primarily arise from the hearts of the innovators, who over the years have not been adequately compensated in terms of share ownership, and only in recent years the influx of stock options to these generators of growth and wealth has been seen as one means of making up for that difference. In entrepreneurial firms this arrangement is well understood and the founder-entrepreneur is compensated with stocks. As the organizations become larger, this innovative perspective begins to dissipate, to the extent that one forgets to pay attention and identify innovators in one's organization, who have been innovating products to meet the demands of the market and, in turn, allow the organization to continue for another day. As a result, it has been forgotten that one key role of the board of directors should be the harnessing of the innovative energies in the workforce, such that wealth can continue to be created. Presents a perspective with regard to innovation and how, by rewarding and tightening the link between innovation and share ownership, one is in fact rewarding the creation of wealth, particularly in this ever-changing knowledge economy.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1108/09576060210436687
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