Innovative Management

Hamel also refers to the term “Creative Economy”. This term implies an economy concerned with the generation or exploitation of knowledge, new ideas; in conclusion, it is based on creative people, creative concepts. Talking about Creative Economy is important to mention John Hopkins, who considers as potential each person’s individual creativity and considers it as one of the rules for succeeding in the international businesses world.

There is no doubt that management is one of the most important factors in modern organizations. The quality of the management and the strategies applied, will impact on the performance of the company. During the Twentieth Century, the main problem for management was to find the best way for individuals to have a routine at work. Many companies still focus on this issue, not regarding the newest problems and challenges that arise every day in the modern and turbulent business world. This world cannot be faced with regular and ancient management. It has to be faced with innovative management.

In this vulnerable business world, the key for success is hidden in creativity, going beyond borders and releasing from old conceptions. In conclusion, the key in this hyper competitive market is innovation, in order to create comparative advantages and differentiate from competitors. Innovative management implies thinking out of the box, applying new technologies, adding value to products or services, planning, controlling, organizing and leading.

Gary Hamel affirms that a correct management is effective for facing the new business models and increasing the competitiveness, productiveness and therefore, profitability. Regarding the human being in the strategic management, Gary Hamel considers that it is really important to promote creativity in each employer in order to counteract the boring routines that workers have daily. By enabling all persons in the company to participate actively, they could contribute effectively to the performance of the firm.

In conclusion, the combination of innovation and management would create a huge comparative advantage and would make the company outstand from the rest of the competitors and in the long term, assure their survival in the turbulent market. It could be also a great strategy for firms to reduce costs of changes, renovate and adapt to the new global order.