How Can Corporate Policies Best Encourage Innovation?
in hyper growth startups and other companies that rely on knowledge workers, the agenda for these value makers must remain as clear as possible. However, sometimes intellectual property (IP) creators inside companies get bogged down and cannot concentrate on the next breakthrough due to redtape. Bottom line: a corporate policy day of reckoning remains overdue… “I have observed large multinational corporations that did not have extensive policies and processes, and their workers were entrepreneurial and empowered,” says Cary A. Levitt, chief operating officer, Dennemeyer & Co., LLC, a worldwide partner in IP management with both legal and portfolio services. “They were trusted to use their judgment to make decisions. When the business environment became more competitive, the company implemented detailed decision-making processes. Each decision had to be vetted by one or more panels. Bigger the decision, deeper the assessment, longer the timeline.”