Recognising and Rewarding Staff for Their Contribution to Innovation Efforts

question 50

Short Answer

Recognising and rewarding staff for their contribution to innovation efforts is a component of effective ___________________ (two words).

Learn the significance of strategic thinking and visualizing the big picture for organizational leaders.

Understand the impact of leadership behaviors on subordinates' satisfaction and performance.

Acquire knowledge on evidence-based leadership practices and their application.

Grasp the concepts of crisis leadership and the recommended approaches during crises.

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Definitions:

Strategy Outsourcing

The practice of delegating a company's business strategy or operational tasks to external specialists to capitalize on efficiencies, reduce costs, or improve focus on core competencies.

Strategic Analysis

A comprehensive evaluation process of an organization's strategic position, identifying strengths, weaknesses, opportunities, and threats.

Functional Strategy

A specific, action-oriented plan or set of actions designed to achieve a set objective within a function of an organization, such as marketing, finance, or production.

Business Strategy

A plan crafted by businesses to achieve specific goals and objectives, outlining the methods and steps to compete in the market.