How Innovation Happens: Practical Insights from Cox Industries, Inc.
Keywords:innovation, business model innovation
The forest sector is often characterized as mature, resistant to change, and lacking innovation. To address this situation, the forest sector literature is replete with calls to company managers to embrace innovation and foster innovative culture. However, the process of innovation, i.e., how innovation actually takes place within forest sector firms has not been previously described. We address this important knowledge gap. In so doing, we also aim to bridge the practitioner - researcher gap through our novel methodological approach. Our findings suggest that a committed and patient leadership is required to bring about the culture change needed for improved innovation. Another critical element is the integration of business strategy and innovation strategy. Finally, our results show that smaller operations, navigating in an intensely competitive sector, have the potential to experience significant success via innovation efforts.
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