Tuesday, 18 April 2023

The Effect of Reward Strategies on Radical Innovation: Critical Review of Literature on Designing a Dynamic Rewards System | Chapter 8 | Current Topics on Business, Economics and Finance Vol. 4

 This study evaluates the influence in which crafty dynamic rewards systems influence radical novelty. This paper develops a fault-finding review which demonstrate the effect of reward procedures on achieving complete innovation and artistry as part of organizations happiness in their operations. Literature from various databases has been collated that evaluates on the impact of reward strategies selected by different arrangements and the extent this contribute to radical change. The outcome concerning this has been illustration of the complex connection between rewards and novelty and scope of rewards in advancing innovativeness. The findings demonstrated that by designing active rewards systems, organizations are confident of achieving novelty in their operations. Through supplying of appropriate rewards, organizations can compete for the right abilities and engage bureaucracy. It is these talents which assists an arranging to drive innovation distinguished to their competitors. This paper checks the overlooked role of crafty rewards that fits an organization aims and objectives. Relevant recommendations have existed developed last on holistic approach of crafty dynamic rewards which integrates the issues of duties, timing and size of rewards for the purpose of driving innovation.

Author(s) Details:

Said Al Darmaki,
Arabian Industries, Muscat, Sultanate of Oman.

Rosmini Omar,
Azman Hashim International Business School, Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia.

Wan Khairuzzaman Wan Ismail,
Sulaiman Al Rajhi School of Business, Sulaiman Al Rajhi Colleges, Al Bukayriyah, KSA.

Please see the link here: https://stm.bookpi.org/CTBEF-V4/article/view/10186

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