Large and small companies are faced with a significant environmental complexity and turbulent business world. The world is changing at an unprecedented rate due to technological advances. For most businesses, the ability to monitor, identify, and master critical technol
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Large and small companies are faced with a significant environmental complexity and turbulent business world. The world is changing at an unprecedented rate due to technological advances. For most businesses, the ability to monitor, identify, and master critical technological skills and technologies is important .In times of economic downturn, technology and innovation can be potent sources of growth as long as the investment and talent are there to drive them. Innovation, creativity and technology are enablers of economic advancement. In this paper, the importance of Innovation, Creativity management and Technology Scouting for organizations in a turbulent environment is explored and it is shown that the winners will be those that react to the crisis by further embracing technology and innovation to find ways to become more productive and competitive. It is shown that sometimes it is better for an organization to put another part of itself out of business rather than have the competition destroy the whole business. Innovation is a team effort and successfully managing innovation teams is an art. The first step toward innovation is the openness of an organization to new ideas and concepts. It is mentioned that managers cannot order creativity; managers can only provide an environment where creativity grows well. An important step is to establish an organizational culture that fosters creativity. As one of the biggest obstacles to fostering innovation and creativity is uptight and rigid people, the paper emphasizes on organizational openness to new ideas and concepts and discusses the ways to achieve this goal with a view to past experiments. Technology scouting is another important factor that can serve as an early warning system. The early detection of new technologies allows an organization time to prepare for or even acquire these technologies before they have a negative business impact on the firm. However, it is important that the process is performed in the right way to guarantee the best possible extent of technology surveillance occurs. In this paper, it is explained that organizations must keep a keen focus on technological areas that could affect the business environment. Overall, it is concluded that for organizations in a turbulent environment, developing an environment that fosters creativity and innovation is an important step in assuring long-term survival. To fail to do so can mean the death of an organization.
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