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Innovation and incentive go hand in hand, but you have to be careful that the motivation is coming from the right place. You want your team to be fueled by passion rather than money.
There are two types of innovation—radical and incremental—and limiting yourself to one or the other may squelch creativity. Get the best result for your product by ensuring that everyone in your organization is on task and inspired. Having strategies in place that lead to the accomplishment of clearly defined goals is an important way to keep ideas flowing.
Professor Davila has a Master of Business Administration from the University of Navarra, and a Doctorate of Business Administration from the Harvard Business School. His research has been published in numerous academic and business journals, including the Harvard Business Review and the Journal of Accounting and Economics.
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