Innovativeness according to company size Essay Example | Topics and Well Written Essays - 750 words

Innovativeness according to company size - Essay Example panies, all employees contribute, which ensures that there are no freeloaders and slackers, which can be combined with rewards for the best innovators. In small companies, it is also easier to identify, utilize, and nourish innovative talent. Since it easier to recognize creative talent at smaller companies, it is easier to motivate them. Finally, small company founders are more accessible and can talk constantly about objectives of innovation, which helps them hammer home the message (Leifer, 2009). Big companies also have advantages when it comes to innovation. First, creation of new categories of products is the best way to achieve total control of innovations and, as such, only the big companies like Google and Apple have the capital to do so (Leifer, 2009). Secondly, big companies are able to do better in the international market place where innovation has now shifted. Larger companies also possess the scale for them to deal with big problems such as the environment, healthcare, and education where a lot of innovation is taking place. These big companies also possess the resources to attract and retain the best talent. In addition, some of the big companies presently had grown from small companies at a ferocious pace and remembered their roots. Finally, these companies have learnt to be more nimble and porous (Leifer, 2009). Current trends in America and Western Europe have seen legislation of new patent laws that mark a fundamental change in patent protection to first-to-file rules and away from first-to-file (Cohen & Merill, 2011). This shift favors the bigger companies that possess resources for broad research and increased capabilities. These companies can file patents faster compared to smaller companies without funds, and thus, no way to protect their inventions. Most small entrepreneurs initially did not take filing of patents, as a priority and especially not before fundraising since they knew that they had an invention and had a way of proving it.