INNOVATION MANAGEMENT: THE IMPORTANCE OF LEADERSHIP AND TEAMWORK IN BUSINESS ORGANIZATIONS

Abstract

The current economic, technologic, social, and cultural changes in the global world influence the importance of the innovation management development. In the conditions of the increasing competition on the global as well as national markets, every company that strives to survive and stay competitive tries to avoid stagnating and preserving “status quo” in its business. This article analyses the important issues of innovation management. The primary focus is on the significance of leadership and team building for successful innovations. The conclusions and suggestions for the cross-functional team organization are based on the recently conducted study.

Keywords

• invention
• innovations
• innovation ma nagement
• leadership
• team -building
• functional teams
• cross -func tional teams
• leadership styles