Power of innovative culture

Abstract: Abstract Authors: Dmitry Moiseev and Polina KorolevaProgram: Leadership and Management in International Context Title: Power of innovative culture within organisations From 18 century almost everything that occurred during economic growth was done due to innovations. Companies started to understand that innovations could give a competitive advantage and increase organisational effectiveness. Innovative culture, in turn, is one of the most important conditions that make innovations happen. However innovative culture is not so popular and common within a lot of companies, maybe because of lack of knowledge according to this notion, maybe because of unwillingness and fear to change something. Innovative culture consists of aspects that have some particular shade and lead to innovations’ creation. In this research we defined innovative culture, determined and analysed different aspects that differentiate it among any other kind of culture. We showed advantages of innovativeness and described the leadership style which serves to innovations. Our findings are proven by the examples and words of leaders from global companies, which helped to build us empirical part.