Values, mission, core business, strategic goals and strategies that foster innovation are the preconditions for innovation activity in the company. They constitute a clearly expressed intention to implement innovative activities, and to achieve innovation.
Corporate culture is the next key element for the successful conduct of innovation in the company. Whether the innovation activities in the enterprise are actually implemented or they remain only on the level of expressed intentions depends on the culture of the company.
Primož Mihelič, author of seven patented inventions, designed innovation systems for two development suppliers in automotive industry. Innovation systems led to an exponential growth of innovations in these two companies.
Primož Mihelič about main points of success: “It is naive to think that good ideas automatically lead to innovations. There is a big difference between idea, invention and innovation. Even successful companies built on innovation have a short life if they don’t develop a culture of innovation and incorporate it in their DNA.«