Category Archives: Rewards and Recognition

Innovation do’s and don’ts

Posted on December 8, 2021 by Eugene Ivanov

Jeff Bezos once said: “Good intentions don’t work, mechanisms do.” I interpret this line as implicit support for my conviction that chasing the chimera of “culture of innovation” is a distraction, rather than an enabler, of corporate innovation. Instead, firms … Continue reading →

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3 best innovation team formulas (and when to ignore them)

Posted on June 10, 2021 by Eugene Ivanov

This article first appeared on Qmarkets blog in 2017 and is reproduced here with some modifications. You’ve heard this cliché many times before: innovation is all about people. Even if you’re an avid fan of AI, you hardly expect robots … Continue reading →

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Innovate today, get paid tomorrow

Posted on March 7, 2018 by Eugene Ivanov

Theoretical analysis conducted by Gustavo Manso in 2011 suggests that the optimal incentives motivating employees to innovate must include a combination of tolerance for failures in the short term and reward for success in the long. Tolerance for early failures allows … Continue reading →

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Don’t Fire Me: I’m Innovating

Posted on March 6, 2016 by Eugene Ivanov

It is election season here in the United States, and the stump speech–a standard, boring and short on substance pitch delivered by the acting and aspiring (and often uninspiring) politicians–is back in vogue. Recently, I recognized what the stump speech … Continue reading →

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Investing in culture of innovation

Posted on December 9, 2015 by Eugene Ivanov

Everyone would agree that the rational risk-taking–and acceptance of failure as a likely outcome of any exploratory project–represents one of the most crucial components of the bona fide culture of innovation. What is missing in our endless talks about establishing … Continue reading →

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Once again, can money buy innovation?

Posted on April 1, 2015 by Eugene Ivanov

The question whether companies should incentivize innovation remains one of the most controversial topics in the innovation management field. Some people argue that innovation does not need to be motivated because it’s based on creativity, and creativity feeds on intrinsic … Continue reading →

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New Survey: Incentivizing Employees to Innovate

Posted on August 19, 2014 by Eugene Ivanov

(This post originally appeared on Innovation Excellence) More and more businesses view innovation as a new paradigm for achieving competitive advantage. Now businesses must focus on how to make the innovation process more effective. Experts and innovation practitioners agree that … Continue reading →

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Can Money Buy Innovation?

Posted on June 4, 2014 by Eugene Ivanov

(This post originally appeared on Innovation Excellence) Even in our money-driven society, the power of money has limits: there are certain things money can’t buy. Love and happiness come to mind first, but a popular list of things that can’t be supposedly bought … Continue reading →

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On Cash and Praise: How We Reward Innovation

Posted on June 2, 2014 by Eugene Ivanov

(This post originally appeared on Forward Metrics) A good friend of mine works for a high-tech company in Massachusetts. Recently, the company’s new CEO, an avid fitness buff, has introduced an initiative: every employee who’d spend certain number of hours per … Continue reading →

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