Nepal’s corporate sector has been moving ahead energetically to bring a rebound in performance and contribute to economic development. However, the country’s corporate management does not have a rich history compared to the developed countries. It is still struggling to recognise good governance and corporate social responsibility as an engine for ethical performance and prosperity. Regardless, Nepal has experienced prolonged political movements and economic turmoil in this short span of its corporate history. Now we need to transform our corporate practices with management innovation in order to improve performance.
Nepali corporates, large or small, are still following the biological management process and apprenticeship model of business. This is a proven model of business in advanced countries including flourishing Asian economies in their early stages of corporate movement. However, innovation is crucial to survive and move ahead in the global arena. The time has come for Nepal to scale up management theories and practices by learning from the success stories of management in the emerged and emerging markets and countries.
Management innovation is the process of introducing novelty in an organisation, and it represents a particular form of organisational change and development. It is known as a difference in the form, quality or state over time of the management activities in an organisation where the change is a novel or unprecedented departure from the past. Moreover, it can be defined as the invention and implementation of new management practices, innovative processes and structures or techniques for achieving organisational aspirations.
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