Incentivizing innovation can be imperative to a business’s success. Often success is talked about when it comes to a company because the company wants to increase their revenue and hold in the world. To do this they need innovative ideas. Incentivizing innovation is when employees are offered an incentive for coming up with new ideas. A good example of incentivizing innovation would be Google.
Google has offered the employees places to sleep, a day to work on their own projects, and a lot of other options. This incentivizing leads to innovation. Incentivizing innovation does not have to be about workrooms or sleep rooms for employees. Incentivizing innovation can also be about customer rewards for customers who supply ideas. Overall, companies want to find the right idea to push their business forward.