Organizational stability and organizational innovation
In the modern business world, organizations are more focused on innovations. The same trend cuts across other fields, such as in the public sector, where people demand innovation to solve most of the existing socio-economic and organizational problems. While innovation is essential towards a company’s success, attention should be focused on organizational stability. Organization stability refers to the production capabilities, financials, and human resources of an organization that have reached a threshold and achieved steady growth in development and employee assessment. Some challenges hinder companies from achieving stability. These challenges include inflations that lead to a change in market costs, thus affecting companies’ ability to sell. Stability can also be hindered by increased human resources and insurance policies, which makes workers uncomfortable in their work environment.
According to Demircioglu (2016), stable organizations control their market share and can make predictable decisions. Stability helps companies develop routines, policies, and structures that make the management of the organization more effective. There are other benefits, such as the easy distribution of resources and proper communication channels that enable proper coordination of all operations. The main focus of achieving the purpose and goals of the organization is more compliance than innovations. Companies are targeting to achieve stability focus on following written procedures to meet their customers’ unique demands. Stable organizations do not necessarily need innovation to achieve change but rather a flexibility. For instance, when the world was treated with news of the coronavirus pandemic, most companies closed down their stores and operations, especially those banked on innovation. On the other hand, a stable organization changed operations and structure to survive the pandemic.
Reference
Demircioglu, M.A. (2016) Organizational Innovation. In: Farazmand A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_3017-1