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This paper aims to identify the innovation strategies of the most successful organizations and demonstrate how business organizations can outperform their rivals.

This paper is based on a review of “How successful organizations drive innovation” by Ikeda and Marshall (2016).

Top performing organizations create organizational structures and functions to sustain innovation, create a culture of innovation and design processes to create innovation. To sustain innovation, organizations create a balance between innovation objectives and business objectives, adopt open innovation and form dedicated innovation teams. Organizations create a culture of innovation through a clear focus on innovation, agility and promoting an innovation culture. Finally, successful organizations design processes to create innovation, adopting strategies of generating new ideas from various sources, ensuring stable and secure innovation funding and deploying explicit innovation measurement.

The paper provides strategic insights and clear steps for all organizations to succeed in their innovation ventures.

Based on the review, this paper illustrates how existing and prospective companies gain a competitive edge in innovation through organizational structures, culture and processes.

This study aims to demonstrate the importance of organizational networks in organizational performance is relatively rich; less understood are processes in organizational networking that entrepreneurs and organizations use in making sense of rapidly changing contexts for organizational performance.

This study conducts an exploratory organizational-level narrative analysis into firms’ experiences in two major emerging markets (EMs), namely, Russia and India – to identify organizational networking processes in the midst of institutional upheavals. The study is based on in-depth case studies of firms in EMs sourced from interview data from senior management and consolidated with secondary data.

The authors find that initially firms rely on informal networks (including blat/svyazi and jaan-pehchaan/jan-pehchan) and later formal (in the form of bureaucratic followed by proprietary) networks to make sense of the changes and uncertainties in turbulent environments. The authors also demonstrate the cyclical nature of strategic sensemaking in the process of developing organizational networks for performance.

The study has a number of theoretical and practical contributions. First, it extends the well-established business networking construct to a more inclusive organizational networking construct. Second, it demonstrates that sensemaking is dependent on interorganizational networking from the outset and throughout the growth of an organization in turbulent markets – from informal to formal bureaucratic and proprietary networks. Finally, this study is unique in documenting the entire process of sensemaking from scanning to performance as well as successfully demonstrating the cyclical nature of sensemaking.