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Innovation Research Topics: That You Need To Look Into

Whenever you want to come up with a professional or academic paper that stands out, one of the best ways is to think of various innovative ideas. But coming up with ideas like argumentative essay topics or dissertation proposal help that allow you to exploit the issue perfectly and reveal some fantastic findings isn’t always easy.

Best Project Innovation Ideas in Management

Interesting innovation technology ideas, hot innovation project ideas for students, most captivating innovation project ideas in healthcare, easy innovative business topics for research paper, trendy innovation research topics, simple innovation essay topics in education, top innovative research topics on social media, fascinating product innovation ideas, awesome innovative research ideas in agriculture.

In your innovation research, focus on your interests based on what you learn in your course. That’s the best way to have a topic you can effectively write and excite your professor or sponsor. This article will focus on 100 innovative research topics you can consider to improve your chances of scoring a top grade.

In addition to social media research topics , there’s a lot you can focus on to write excellent projects. Here are some of the management innovation research examples to get you started.

• Management innovations as a critical factor in increasing consumers
• Disruptive innovations in management nobody expected this year
• Comparing the internal and external management innovations
• A look at innovations in business management post-COVID-19
• The needed innovations in manufacturing companies to improve waste management
• Exploring the impact of customer relationship management tools in 2023
• How digital transformation has changed management processes in big ventures
• How innovations are transforming the risk management space
• Evaluating the effectiveness of virtual management tools
• The role of machine learning in project management

A topic that allows you to write about what the majority like most will make you stand out. As you read more on social issues research topics , the innovative technology ideas below are also worth it.

• Analyzing the innovations in the airline industries over the years
• The role of technology innovations in the crime sector
• Are digital technologies losing the sense of innovativeness?
• Innovations in technology and service delivery: The truth revealed
• Understanding how tech innovations cause job losses
• Effects of technological changes on the payment processes
• Machine learning algorithms in maintaining production systems
• Analyzing how smart homes are becoming better with artificial intelligence
• Is the continuous development of apps with blockchain technology viable?
• Understanding the security of mobile apps from a technological perspective

Every student desires a project showing their detailed understanding of the innovation idea. Besides these research topics for STEM students , here are some hot product innovation examples for students:

• AI as a solution for mild illnesses
• Comparing tech innovations based on project budgets
• The impacts of blockchain technology in developing voting systems
• The role of AI in surveillance systems
• Part of the innovations in energy generation using renewable sources
• Part of the innovations in traffic control
• Online shopping innovations transforming the retail sector
• How innovations are making it easy to handle cycle crimes
• Developing a health and wellness app for students with bad eating habits
• Using waste materials to build tech machines and hardware

A common question about innovation in healthcare is, how do people come up with many exciting biochemistry topics that are out there in published papers? Worry not because this section will reveal more diverse ideas to try out.

• Analyzing the usage of health and fitness apps among the elderly
• Using electronic health data in apps development
• Improving hospital drug dispensation with automation
• Tracking blood electrolyte levels without sample collection
• Challenges of using automation to diagnose infants
• Blockchain as key in health records
• Expected innovations in telemedicine going forward
• How technology has changed hospital consultations
• Blood pressure interventions using the latest technologies
• Are innovations that track patient progress online practical?

From the many innovation project examples you’ll come across in your research, innovative business topics are among the most exciting to read. Read on for more exciting topics.

• Challenges of innovations in business
• Innovation and passive income
• Online stores’ key growth parameters
• Using technology to get legit business advice
• Artificial intelligence in business data management
• Innovation ideas for manufacturing business
• Encouraging innovations to increase product consumption
• Innovations in businesses are capital intensive
• A new era of hiring and staffing
• Role of management in business innovations

Economics research paper topics tell a lot about the current times. However, a trendy example of an innovation research topic expounds more on what many now prefer. These sample innovation topics show what’s trending.

• The benefits of quantum computing
• Automation in customer management
• A look at predictive analysis
• Using the Internet of Things Correctly
• Database improvement with blockchain
• New cybersecurity interventions
• 5G revolution
• Using edge computing in research
• A look at machine learning advancements
• Artificial intelligence vs. machine learning

Education innovation and changes attract a lot of controversies. Here are some essay topics in education you’ll be happy to focus on.

• The impact of outside-class learning
• Brain breaks in the academic journey
• Early learning trauma and academic excellence
• Virtual vs. physical presence learning
• Grades and student improvement
• Mastery-based grading
• Personalize learning curriculum
• Role of tech in homeschooling
• Role of STEM in education innovations
• Benefits of blended learning

First, read more about the thesis statement about social media . You’ll realize it’s pretty easy to create some fantastic research topics. These innovation samples revolve around social media.

• Social media and brands authenticity
• Social media and propaganda
• Addressing costs of social media advertising
• Social media content challenges
• Why prioritize social media integrations?
• Are cookies making social media sites worse?
• Comparing Facebook and Instagram ads
• A look at crucial TikTok analytics
• Comparing short and long-form social media content
• A new approach to social media ads

As you learn more about anatomy research papers , we’d love to emphasize more on research product ideas that apply to other fields. These ideas include the following:

• E-learning short courses taking over major courses
• Adaptation of drones in fighting crimes
• New car accessories and improved efficiency
• Candle innovations that sell
• Technological advancements in Cannabis processing
• Food products for intolerant kids
• Baby products now save costs
• Tech in safe training machines
• Humidifiers and COVID-19
• Kitchen air fryers and their health concern

You probably have many questions about innovation, especially in the agriculture sector. We will list some innovative topics below to help you write the best research paper.

• A detailed overview of automated farm machines
• Are laser scarecrows effective?
• On-site agriculture product testing
• Innovations for improving harvest quality
• Using IoT technology to conserve water
• Mobile apps in agriculture
• Role of tech in animal feeding
• Current innovations in farm management
• Use of AI in agricultural innovations
• Using innovations to increase crop yields

How does research make human innovation possible? If you have been wondering about this question, the topics listed in this article will give you the best answer. Once you have decided on what you want to focus on, reach out to us, and let’s help you write a research paper that guarantees a top grade.

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Home » 500+ Business Research Topics

500+ Business Research Topics

Business research is an essential component of any successful organization, as it allows companies to make informed decisions based on data-driven insights. Whether it’s market research to identify new opportunities, or analyzing internal processes to improve efficiency, there are a vast array of business research topics that companies can explore. With the constantly evolving business landscape, it’s critical for organizations to stay up-to-date with the latest research trends and best practices to remain competitive. In this post, we’ll explore some of the most compelling business research topics that are currently being studied, providing insights and actionable recommendations for businesses of all sizes.

Business Research Topics

Business Research Topics are as follows:

• The impact of social media on consumer behavior
• Strategies for enhancing customer satisfaction in the service industry
• The effectiveness of mobile marketing campaigns
• Exploring the factors influencing employee turnover
• The role of leadership in organizational culture
• Investigating the relationship between corporate social responsibility and financial performance
• Assessing the impact of employee engagement on organizational performance
• The challenges and opportunities of global supply chain management
• Analyzing the effectiveness of e-commerce platforms
• Investigating the impact of organizational culture on employee motivation
• The role of corporate governance in ensuring ethical business practices
• Examining the impact of digital marketing on brand equity
• Strategies for managing diversity and inclusion in the workplace
• Exploring the effects of employee empowerment on job satisfaction
• The role of innovation in business growth
• Analyzing the impact of mergers and acquisitions on company performance
• Investigating the impact of workplace design on employee productivity
• The challenges and opportunities of international business expansion
• Strategies for managing talent in the knowledge economy
• The role of artificial intelligence in transforming business operations
• Examining the impact of customer loyalty programs on retention and revenue
• Investigating the relationship between corporate social responsibility and brand reputation
• The role of emotional intelligence in effective leadership
• The impact of digital transformation on small and medium-sized enterprises
• Analyzing the effectiveness of green marketing strategies
• The role of entrepreneurship in economic development
• Investigating the impact of employee training and development on organizational performance
• The challenges and opportunities of omnichannel retailing
• Examining the impact of organizational change on employee morale and productivity
• The role of corporate social responsibility in attracting and retaining millennial talent
• Analyzing the impact of employee motivation on organizational culture
• Investigating the impact of workplace diversity on team performance
• The challenges and opportunities of blockchain technology in business operations
• Strategies for managing cross-functional teams
• The role of big data analytics in business decision-making
• Examining the impact of corporate social responsibility on customer loyalty
• Investigating the relationship between corporate social responsibility and employee engagement
• The impact of social media marketing on customer engagement and brand loyalty.
• The effectiveness of AI in improving customer service and satisfaction.
• The role of entrepreneurship in economic development and job creation.
• The impact of the gig economy on the labor market.
• The effects of corporate social responsibility on company profitability.
• The role of data analytics in predicting consumer behavior and market trends.
• The effects of globalization on the competitiveness of small businesses.
• The impact of e-commerce on traditional brick-and-mortar retail.
• The role of emotional intelligence in leadership and team management.
• The effects of workplace diversity on employee productivity and satisfaction.
• The role of corporate culture in employee retention and satisfaction.
• The impact of employee training and development on company performance.
• The effectiveness of performance-based pay structures on employee motivation.
• The impact of sustainability practices on company reputation and profitability.
• The effects of artificial intelligence on job displacement and the future of work.
• The role of innovation in the growth and success of small businesses.
• The impact of government regulations on business operations and profitability.
• The effects of organizational structure on company performance and efficiency.
• The role of emotional labor in service industries.
• The impact of employee empowerment on job satisfaction and retention.
• The effects of workplace flexibility on employee productivity and well-being.
• The role of emotional intelligence in negotiation and conflict resolution.
• The impact of branding on consumer behavior and purchase decisions.
• The effects of customer experience on brand loyalty and advocacy.
• The role of storytelling in marketing and advertising.
• The impact of consumer psychology on pricing strategies and sales.
• The effects of influencer marketing on consumer behavior and brand loyalty.
• The role of trust in online transactions and e-commerce.
• The impact of product design on consumer perception and purchasing decisions.
• The effects of customer satisfaction on company profitability and growth.
• The role of social entrepreneurship in addressing societal problems and creating value.
• The impact of corporate governance on company performance and stakeholder relations.
• The effects of workplace harassment on employee well-being and company culture.
• The role of strategic planning in the success of small businesses.
• The impact of technology on supply chain management and logistics.
• The effects of customer segmentation on marketing strategies and sales.
• The role of corporate philanthropy in building brand reputation and loyalty.
• The impact of intellectual property protection on innovation and creativity.
• The effects of trade policies on international business operations and profitability.
• The role of strategic partnerships in business growth and expansion.
• The impact of digital transformation on organizational structure and operations.
• The effects of leadership styles on employee motivation and performance.
• The role of corporate social activism in shaping public opinion and brand reputation.
• The impact of mergers and acquisitions on company performance and stakeholder value.
• The effects of workplace automation on job displacement and re-skilling.
• The role of cross-cultural communication in international business operations.
• The impact of workplace stress on employee health and productivity.
• The effects of customer reviews and ratings on online sales and reputation.
• The role of competitive intelligence in market research and strategy development.
• The impact of brand identity on consumer trust and loyalty.
• The impact of organizational structure on innovation and creativity
• Analyzing the effectiveness of virtual teams in global organizations
• The role of corporate social responsibility in crisis management
• The challenges and opportunities of online marketplaces
• Strategies for managing cultural diversity in multinational corporations
• The impact of employer branding on employee retention
• Investigating the impact of corporate social responsibility on investor behavior
• The role of technology in enhancing customer experience
• Analyzing the impact of social responsibility initiatives on customer satisfaction
• Investigating the impact of supply chain disruptions on business performance
• The role of business ethics in organizational decision-making
• The challenges and opportunities of artificial intelligence in customer service
• Strategies for managing employee burnout and stress in the workplace.
• Impact of social media on consumer behavior and its implications for businesses.
• The impact of corporate social responsibility on company performance.
• An analysis of the relationship between employee satisfaction and customer loyalty.
• The effect of advertising on consumer behavior.
• A study on the effectiveness of social media marketing in building brand image.
• The impact of technological innovations on business strategy and operations.
• The relationship between leadership style and employee motivation.
• A study of the effects of corporate culture on employee engagement.
• An analysis of the factors influencing consumer buying behavior.
• The effectiveness of training and development programs in enhancing employee performance.
• The impact of global economic factors on business decision-making.
• The role of organizational communication in achieving business goals.
• The relationship between customer satisfaction and business success.
• A study of the challenges and opportunities in international business.
• The effectiveness of supply chain management in improving business performance.
• An analysis of the factors influencing customer loyalty in the hospitality industry.
• The impact of employee turnover on organizational performance.
• A study of the impact of corporate governance on company performance.
• The role of innovation in business growth and success.
• An analysis of the relationship between marketing and sales performance.
• The effect of organizational structure on employee behavior.
• A study of the impact of cultural differences on business negotiations.
• The effectiveness of pricing strategies in increasing sales revenue.
• The impact of customer service on customer loyalty.
• A study of the role of human resource management in business success.
• The impact of e-commerce on traditional brick-and-mortar businesses.
• An analysis of the relationship between employee empowerment and job satisfaction.
• The effectiveness of customer relationship management in building brand loyalty.
• The role of business ethics in corporate decision-making.
• A study of the impact of digital marketing on consumer behavior.
• The effect of organizational culture on employee turnover.
• An analysis of the factors influencing employee engagement in the workplace.
• The impact of social media on business communication and marketing.
• A study of the relationship between customer service and customer loyalty in the airline industry.
• The role of diversity and inclusion in business success.
• The effectiveness of performance management systems in improving employee performance.
• The impact of corporate social responsibility on employee engagement.
• A study of the factors influencing business expansion into new markets.
• The role of brand identity in customer loyalty and retention.
• The effectiveness of change management strategies in organizational change.
• The impact of organizational structure on organizational performance.
• A study of the impact of technology on the future of work.
• The relationship between innovation and competitive advantage in the marketplace.
• The effect of employee training on organizational performance.
• An analysis of the impact of online reviews on consumer behavior.
• The role of leadership in shaping organizational culture.
• The effectiveness of talent management strategies in retaining top talent.
• The impact of globalization on small and medium-sized enterprises.
• A study of the relationship between corporate social responsibility and brand reputation.
• The effectiveness of employee retention strategies in reducing turnover rates.
• The role of emotional intelligence in leadership and employee engagement.
• The impact of digital marketing on customer behavior
• The role of organizational culture in employee engagement and retention
• The effects of employee training and development on organizational performance
• The relationship between corporate social responsibility and financial performance
• The impact of globalization on business strategy
• The importance of supply chain management in achieving competitive advantage
• The role of innovation in business growth and sustainability
• The impact of e-commerce on traditional retail businesses
• The role of leadership in managing change in organizations
• The effects of workplace diversity on organizational performance
• The impact of social media on brand image and reputation
• The relationship between employee motivation and productivity
• The role of organizational structure in promoting innovation
• The effects of customer service on customer loyalty
• The impact of globalization on small businesses
• The role of corporate governance in preventing unethical behavior
• The effects of technology on job design and work organization
• The relationship between employee satisfaction and turnover
• The impact of mergers and acquisitions on organizational culture
• The effects of employee benefits on job satisfaction
• The impact of cultural differences on international business negotiations
• The role of strategic planning in organizational success
• The effects of organizational change on employee stress and burnout
• The impact of business ethics on customer trust and loyalty
• The role of human resource management in achieving competitive advantage
• The effects of outsourcing on organizational performance
• The impact of diversity and inclusion on team performance
• The role of corporate social responsibility in brand differentiation
• The effects of leadership style on organizational culture
• The Impact of Digital Marketing on Brand Equity: A Study of E-commerce Businesses
• Investigating the Relationship between Employee Engagement and Organizational Performance
• Analyzing the Effects of Corporate Social Responsibility on Customer Loyalty and Firm Performance
• An Empirical Study of the Factors Affecting Entrepreneurial Success in the Technology Sector
• The Influence of Organizational Culture on Employee Motivation and Job Satisfaction: A Case Study of a Service Industry
• Investigating the Impact of Organizational Change on Employee Resistance: A Comparative Study of Two Organizations
• An Exploration of the Impact of Artificial Intelligence on Supply Chain Management
• Examining the Relationship between Leadership Styles and Employee Creativity in Innovative Organizations
• Investigating the Effectiveness of Performance Appraisal Systems in Improving Employee Performance
• Analyzing the Role of Emotional Intelligence in Leadership Effectiveness: A Study of Senior Managers
• The Impact of Transformational Leadership on Employee Motivation and Job Satisfaction in the Healthcare Sector
• Evaluating the Effectiveness of Talent Management Strategies in Enhancing Organizational Performance
• A Study of the Effects of Customer Relationship Management on Customer Retention and Loyalty
• Investigating the Impact of Corporate Governance on Firm Performance: Evidence from Emerging Markets
• The Relationship between Intellectual Capital and Firm Performance: A Case Study of Technology Firms
• Analyzing the Effectiveness of Diversity Management in Improving Organizational Performance
• The Impact of Internationalization on the Performance of Small and Medium-sized Enterprises: A Comparative Study of Developed and Developing Countries
• Examining the Relationship between Corporate Social Responsibility and Financial Performance: A Study of Listed Firms
• Investigating the Influence of Entrepreneurial Orientation on Firm Performance in Emerging Markets
• Analyzing the Impact of E-commerce on Traditional Retail Business Models: A Study of Brick-and-Mortar Stores
• The Effect of Corporate Reputation on Customer Loyalty and Firm Performance: A Study of the Banking Sector
• Investigating the Factors Affecting Consumer Adoption of Mobile Payment Systems
• The Role of Corporate Social Responsibility in Attracting and Retaining Millennial Employees
• Analyzing the Impact of Social Media Marketing on Brand Awareness and Consumer Purchase Intentions
• A Study of the Effects of Employee Training and Development on Job Performance
• Investigating the Relationship between Corporate Culture and Employee Turnover: A Study of Multinational Companies
• The Impact of Business Process Reengineering on Organizational Performance: A Study of Service Industries
• An Empirical Study of the Factors Affecting Internationalization Strategies of Small and Medium-sized Enterprises
• The Effect of Strategic Human Resource Management on Firm Performance: A Study of Manufacturing Firms
• Investigating the Influence of Leadership on Organizational Culture: A Comparative Study of Two Organizations
• The Impact of Technology Adoption on Organizational Productivity: A Study of the Healthcare Sector
• Analyzing the Effects of Brand Personality on Consumer Purchase Intentions: A Study of Luxury Brands
• The Relationship between Corporate Social Responsibility and Customer Perceptions of Product Quality: A Study of the Food and Beverage Industry
• Investigating the Effectiveness of Performance Management Systems in Improving Employee Performance: A Study of a Public Sector Organization
• The Impact of Business Ethics on Firm Performance: A Study of the Banking Industry
• Examining the Relationship between Employee Engagement and Customer Satisfaction in the Service Industry
• Investigating the Influence of Entrepreneurial Networking on Firm Performance: A Study of Small and Medium-sized Enterprises
• The Effect of Corporate Social Responsibility on Employee Retention: A Study of High-tech Firms
• The impact of workplace communication on employee engagement
• The role of customer feedback in improving service quality
• The effects of employee empowerment on job satisfaction
• The impact of innovation on customer satisfaction
• The role of knowledge management in organizational learning
• The effects of product innovation on market share
• The impact of business location on customer behavior
• The role of financial management in business success
• The effects of corporate social responsibility on employee engagement
• The impact of cultural intelligence on cross-cultural communication
• The role of social media in crisis management
• The effects of corporate branding on customer loyalty
• The impact of globalization on consumer behavior
• The role of emotional intelligence in leadership effectiveness
• The effects of employee involvement in decision-making on job satisfaction
• The impact of business strategy on market share
• The role of corporate culture in promoting ethical behavior
• The effects of corporate social responsibility on investor behavior
• The impact of sustainability on brand image and reputation
• The role of corporate social responsibility in reducing carbon emissions.
• The effectiveness of loyalty programs on customer retention
• The benefits of remote work for employee productivity
• The impact of environmental sustainability on consumer purchasing decisions
• The role of brand identity in consumer loyalty
• The relationship between employee satisfaction and customer satisfaction
• The impact of e-commerce on traditional brick-and-mortar stores
• The effectiveness of online advertising on consumer behavior
• The impact of leadership styles on employee motivation
• The role of corporate social responsibility in brand perception
• The impact of workplace diversity on organizational performance
• The effectiveness of gamification in employee training programs
• The impact of pricing strategies on consumer behavior
• The effectiveness of mobile marketing on consumer engagement
• The impact of emotional intelligence on leadership effectiveness
• The role of customer service in consumer loyalty
• The impact of technology on supply chain management
• The effectiveness of employee training programs on job performance
• The impact of culture on consumer behavior
• The effectiveness of performance appraisal systems on employee motivation
• The impact of social responsibility on organizational performance
• The role of innovation in business success
• The impact of ethical leadership on organizational culture
• The effectiveness of cross-functional teams in project management
• The impact of government regulations on business operations
• The role of strategic planning in business growth
• The impact of emotional intelligence on team dynamics
• The effectiveness of supply chain management on customer satisfaction
• The impact of workplace culture on employee satisfaction
• The role of employee engagement in organizational success
• The impact of globalization on organizational culture
• The effectiveness of virtual teams in project management
• The impact of employee turnover on organizational performance
• The role of corporate social responsibility in talent acquisition
• The impact of technology on employee training and development
• The effectiveness of knowledge management on organizational learning
• The impact of organizational structure on employee motivation
• The role of innovation in organizational change
• The impact of cultural intelligence on global business operations
• The effectiveness of marketing strategies on brand perception
• The impact of change management on organizational culture
• The role of leadership in organizational transformation
• The impact of employee empowerment on job satisfaction
• The effectiveness of project management methodologies on project success
• The impact of workplace communication on team performance
• The role of emotional intelligence in conflict resolution
• The impact of employee motivation on job performance
• The effectiveness of diversity and inclusion initiatives on organizational performance.
• The impact of social media on consumer behavior and buying decisions
• The role of diversity and inclusion in corporate culture and its effects on employee retention and productivity
• The effectiveness of remote work policies on job satisfaction and work-life balance
• The impact of customer experience on brand loyalty and revenue growth
• The effects of environmental sustainability practices on corporate reputation and financial performance
• The role of corporate social responsibility in consumer purchasing decisions
• The effectiveness of leadership styles on team performance and productivity
• The effects of employee motivation on job performance and turnover
• The impact of technology on supply chain management and logistics efficiency
• The role of emotional intelligence in effective leadership and team dynamics
• The impact of artificial intelligence and automation on job displacement and workforce trends
• The effects of brand image on consumer perception and purchasing decisions
• The role of corporate culture in promoting innovation and creativity
• The impact of e-commerce on traditional brick-and-mortar retail businesses
• The effects of corporate governance on financial reporting and transparency
• The effectiveness of performance-based compensation on employee motivation and productivity
• The impact of online reviews and ratings on consumer trust and brand reputation
• The effects of workplace diversity on innovation and creativity
• The impact of mobile technology on marketing strategies and consumer behavior
• The role of emotional intelligence in customer service and satisfaction
• The effects of corporate reputation on financial performance and stakeholder trust
• The impact of artificial intelligence on customer service and support
• The role of organizational culture in promoting ethical behavior and decision-making
• The effects of corporate social responsibility on employee engagement and satisfaction
• The impact of employee turnover on organizational performance and profitability
• The role of customer satisfaction in promoting brand loyalty and advocacy
• The effects of workplace flexibility on employee morale and productivity
• The impact of employee wellness programs on absenteeism and healthcare costs
• The role of data analytics in business decision-making and strategy formulation
• The effects of brand personality on consumer behavior and perception
• The impact of social media marketing on brand awareness and customer engagement
• The role of organizational justice in promoting employee satisfaction and retention
• The effects of corporate branding on employee motivation and loyalty
• The impact of online advertising on consumer behavior and purchasing decisions
• The role of corporate entrepreneurship in promoting innovation and growth
• The effects of cultural intelligence on cross-cultural communication and business success
• The impact of workplace diversity on customer satisfaction and loyalty
• The role of ethical leadership in promoting employee trust and commitment
• The effects of job stress on employee health and well-being
• The impact of supply chain disruptions on business operations and financial performance
• The role of organizational learning in promoting continuous improvement and innovation
• The effects of employee engagement on customer satisfaction and loyalty
• The impact of brand extensions on brand equity and consumer behavior
• The role of strategic alliances in promoting business growth and competitiveness
• The effects of corporate transparency on stakeholder trust and loyalty
• The impact of digital transformation on business models and competitiveness
• The role of business ethics in promoting corporate social responsibility and sustainability
• The effects of employee empowerment on job satisfaction and organizational performance.
• The role of corporate governance in mitigating unethical behavior in multinational corporations.
• The effects of cultural diversity on team performance in multinational corporations.
• The impact of corporate social responsibility on consumer loyalty and brand reputation.
• The relationship between organizational culture and employee engagement in service industries.
• The impact of globalization on the competitiveness of small and medium enterprises (SMEs).
• The effectiveness of performance-based pay systems on employee motivation and productivity.
• The relationship between innovation and corporate performance in the pharmaceutical industry.
• The impact of digital marketing on the traditional marketing mix.
• The role of emotional intelligence in leadership effectiveness in cross-cultural teams.
• The relationship between corporate social responsibility and financial performance in the banking sector.
• The impact of diversity management on employee satisfaction and retention in multinational corporations.
• The relationship between leadership style and organizational culture in family-owned businesses.
• The impact of e-commerce on supply chain management.
• The effectiveness of training and development programs on employee performance in the retail sector.
• The impact of global economic trends on strategic decision-making in multinational corporations.
• The relationship between ethical leadership and employee job satisfaction in the healthcare industry.
• The impact of employee empowerment on organizational performance in the manufacturing sector.
• The relationship between corporate social responsibility and employee well-being in the hospitality industry.
• The impact of artificial intelligence on customer service in the banking industry.
• The relationship between emotional intelligence and employee creativity in the technology industry.
• The impact of big data analytics on customer relationship management in the telecommunications industry.
• The relationship between organizational culture and innovation in the automotive industry.
• The impact of internationalization on the performance of SMEs in emerging markets.
• The effectiveness of performance appraisal systems on employee motivation and retention in the public sector.
• The relationship between diversity management and innovation in the pharmaceutical industry.
• The impact of social entrepreneurship on economic development in developing countries.
• The relationship between transformational leadership and organizational change in the energy sector.
• The impact of online customer reviews on brand reputation in the hospitality industry.
• The effectiveness of leadership development programs on employee engagement in the finance industry.
• The relationship between corporate social responsibility and employee turnover in the retail sector.
• The impact of artificial intelligence on the recruitment and selection process in the technology industry.
• The relationship between organizational culture and employee creativity in the fashion industry.
• The impact of digital transformation on business models in the insurance industry.
• The relationship between employee engagement and customer satisfaction in the service industry.
• The impact of mergers and acquisitions on organizational culture and employee morale.
• The effectiveness of knowledge management systems on organizational performance in the consulting industry.
• The impact of social media marketing on brand loyalty in the food and beverage industry.
• The relationship between emotional intelligence and customer satisfaction in the airline industry.
• The impact of blockchain technology on supply chain management in the logistics industry.
• The relationship between corporate social responsibility and employee engagement in the technology industry.
• The impact of digitalization on talent management practices in the hospitality industry.
• The effectiveness of reward and recognition programs on employee motivation in the manufacturing industry.
• The impact of industry 4.0 on organizational structure and culture in the aerospace industry.
• The relationship between leadership style and team performance in the construction industry.
• The impact of artificial intelligence on financial forecasting and decision-making in the banking sector.
• The relationship between corporate social responsibility and customer loyalty in the automotive industry.
• The impact of virtual teams on employee communication and collaboration in the pharmaceutical industry.
• The impact of remote work on employee productivity and job satisfaction
• The effects of social media marketing on customer engagement and brand loyalty
• The role of artificial intelligence in streamlining supply chain management
• The effectiveness of employee training and development programs on organizational performance
• The impact of diversity and inclusion initiatives on organizational culture and employee satisfaction
• The role of corporate social responsibility in enhancing brand reputation and customer loyalty
• The effects of e-commerce on small businesses and local economies
• The impact of big data analytics on marketing strategies and customer insights
• The effects of employee empowerment on organizational innovation and performance
• The impact of globalization on the hospitality industry
• The effects of corporate governance on organizational performance and financial outcomes
• The role of customer satisfaction in driving business growth and profitability
• The impact of artificial intelligence on financial forecasting and risk management
• The effects of corporate culture on employee engagement and retention
• The role of green marketing in promoting environmental sustainability and brand reputation
• The impact of digital transformation on the retail industry
• The effects of employee motivation on job performance and organizational productivity
• The role of customer experience in enhancing brand loyalty and advocacy
• The impact of international trade agreements on global business practices
• The effects of artificial intelligence on customer service and support
• The role of organizational communication in facilitating teamwork and collaboration
• The impact of corporate social responsibility on employee motivation and retention
• The effects of global economic instability on business decision-making
• The role of leadership styles in organizational change management
• The impact of social media influencers on consumer behavior and purchasing decisions
• The effects of employee well-being on organizational productivity and profitability
• The role of innovation in driving business growth and competitive advantage
• The impact of digital marketing on consumer behavior and brand perception
• The role of strategic planning in organizational success and sustainability
• The impact of e-commerce on consumer privacy and data security
• The effects of corporate reputation on customer acquisition and retention
• The role of diversity and inclusion in organizational creativity and innovation
• The impact of artificial intelligence on customer relationship management
• The effects of customer feedback on product development and innovation
• The role of employee job satisfaction in reducing turnover and absenteeism
• The impact of global competition on business strategy and innovation
• The effects of corporate branding on customer loyalty and advocacy
• The role of digital transformation in enhancing organizational agility and responsiveness
• The effects of employee empowerment on customer satisfaction and loyalty
• The role of entrepreneurial leadership in driving business innovation and growth
• The impact of digital disruption on traditional business models
• The effects of organizational culture on innovation and creativity
• The role of marketing research in developing effective marketing strategies
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The past, present, and future of innovation research

• Published: 06 June 2020
• Volume 31 , pages 187–198, ( 2020 )

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• Byung Cheol Lee   ORCID: orcid.org/0000-0001-5353-8056 1 ,
• Christine Moorman 2 ,
• C. Page Moreau 3 ,
• Andrew T. Stephen 4 &
• Donald R. Lehmann 1  

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The goal of a business is to enhance profitable revenue. Often this mission is accomplished by innovation, commonly by the process of bringing new products or services to market. This paper identifies major trends in the literature and practice and provides a perspective on how these trends may guide future research on innovation. Specifically, we document six themes that have appeared in research on the innovation process and discuss how scholars have developed ways to measure, predict, and explain each of these processes. Lastly, we offer our perspectives on future research topics on innovation reflecting on the impact of technological advancements.

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Those interested in a more comprehensive taxonomy of topics in the field should refer to Hauser et al. ( 2006 ).

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Lee, B.C., Moorman, C., Moreau, C.P. et al. The past, present, and future of innovation research. Mark Lett 31 , 187–198 (2020). https://doi.org/10.1007/s11002-020-09528-6

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The eight essentials of innovation

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January 4, 2024

In the time since this article was first published, McKinsey has continued to explore the topics it covers. Read on for a summary of our latest insights.

Innovation may sound like a creative art: hard to quantify, dependent on lightning-bolt inspiration, subject to the availability of magic dust and luck. It’s true that innovation relies, to an extent, on the vagaries of ingenuity. But according to McKinsey research, innovation—and, crucially, the type of outperformance that innovation can spark in organizations—is much more likely to happen when there is a rigorous process  in place to bring ideas to fruition.

The simple fact is that innovation translates to growth : innovation leaders generate almost twice as much revenue growth from innovation as their competitors. Our research in the years since the COVID-19 pandemic has found that these organizations, which we call “innovative growers,” do this by cultivating four best practices :

• Link innovation to growth aspirations and reinforce its importance in strategic and financial discussions.
• Pursue multiple pathways to growth, both in core businesses and when entering adjacent customer segments, industries, or geographies. Innovative growers also only enter markets where there are clear opportunities to create value.
• Invest productively in all innovation capabilities, including research and development, resourcing, and operational agility.
• Cultivate strong M&A capabilities, particularly programmatic dealmaking.

Innovation can be especially rewarding when deployed as a crisis-management measure . During periods of uncertainty, organizations that invest in innovation—contrary, perhaps, to the impulse to batten down the hatches—are also more likely to emerge ahead of competitors. More specifically, innovative organizations are more likely to find emerging pockets of growth  in times of uncertainty.

Looking ahead, we expect innovative organizations to keep outpacing their peers. Our 2023 McKinsey Global Survey  reveals a striking connection  between organizations’ innovation capabilities and their abilities to increase value through the newest digital technologies, including generative AI. Everyone is talking about gen AI, but organizations with strong innovative cultures are walking the walk, too: thirty percent of top innovators we surveyed said they are already deploying gen AI at scale in their innovation and R&D functions, more than six times the rate of companies that are lagging on innovation. Top innovators are also already reaping significantly better business outcomes from their AI investments than slower-moving competitors.

Articles referenced:

• “ Companies with innovative cultures have a big edge with generative AI ,” August 2023
• “ Innovation: Your solution for weathering uncertainty ,” January 2023
• “ Committed innovators: How masters of essentials outperform ,” June 2022
• “ Innovation in a crisis: Why it is more critical than ever ,” June 2020

It’s no secret: innovation is difficult for well-established companies. By and large, they are better executors than innovators, and most succeed less through game-changing creativity than by optimizing their existing businesses.

Yet hard as it is for such organizations to innovate, large ones as diverse as Alcoa, the Discovery Group, and NASA’s Ames Research Center are actually doing so. What can other companies learn from their approaches and attributes? That question formed the core of a multiyear study comprising in-depth interviews, workshops, and surveys of more than 2,500 executives in over 300 companies, including both performance leaders and laggards, in a broad set of industries and countries (Exhibit 1). What we found were a set of eight essential attributes that are present, either in part or in full, at every big company that’s a high performer in product, process, or business-model innovation.

Since innovation is a complex, company-wide endeavor , it requires a set of crosscutting practices and processes to structure, organize, and encourage it. Taken together, the essentials described in this article constitute just such an operating system, as seen in Exhibit 2. These often overlapping, iterative, and nonsequential practices resist systematic categorization but can nonetheless be thought of in two groups. The first four, which are strategic and creative in nature, help set and prioritize the terms and conditions under which innovation is more likely to thrive. The next four essentials deal with how to deliver and organize for innovation repeatedly over time and with enough value to contribute meaningfully to overall performance.

To be sure, there’s no proven formula for success, particularly when it comes to innovation. While our years of client-service experience provide strong indicators for the existence of a causal relationship between the attributes that survey respondents reported and the innovations of the companies we studied, the statistics described here can only prove correlation. Yet we firmly believe that if companies assimilate and apply these essentials—in their own way, in accordance with their particular context, capabilities, organizational culture, and appetite for risk—they will improve the likelihood that they, too, can rekindle the lost spark of innovation. In the digital age, the pace of change has gone into hyperspeed, so companies must get these strategic, creative, executional, and organizational factors right to innovate successfully.

President John F. Kennedy’s bold aspiration, in 1962, to “go to the moon in this decade” motivated a nation to unprecedented levels of innovation. A far-reaching vision can be a compelling catalyst, provided it’s realistic enough to stimulate action today.

But in a corporate setting, as many CEOs have discovered, even the most inspiring words often are insufficient, no matter how many times they are repeated. It helps to combine high-level aspirations with estimates of the value that innovation should generate to meet financial-growth objectives. Quantifying an “innovation target for growth,” and making it an explicit part of future strategic plans, helps solidify the importance of and accountability for innovation. The target itself must be large enough to force managers to include innovation investments in their business plans. If they can make their numbers using other, less risky tactics, our experience suggests that they (quite rationally) will.

Establishing a quantitative innovation aspiration is not enough, however. The target value needs to be apportioned to relevant business “owners” and cascaded down to their organizations in the form of performance targets and timelines. Anything less risks encouraging inaction or the belief that innovation is someone else’s job.

For example, Lantmännen, a big Nordic agricultural cooperative, was challenged by flat organic growth and directionless innovation. Top executives created an aspirational vision and strategic plan linked to financial targets: 6 percent growth in the core business and 2 percent growth in new organic ventures. To encourage innovation projects, these quantitative targets were cascaded down to business units and, ultimately, to product groups. During the development of each innovation project, it had to show how it was helping to achieve the growth targets for its category and markets. As a result, Lantmännen went from 4 percent to 13 percent annual growth, underpinned by the successful launch of several new brands. Indeed, it became the market leader in premade food only four years after entry and created a new premium segment in this market.

Such performance parameters can seem painful to managers more accustomed to the traditional approach. In our experience, though, CEOs are likely just going through the motions if they don’t use evaluations and remuneration to assess and recognize the contribution that all top managers make to innovation.

Fresh, creative insights are invaluable, but in our experience many companies run into difficulty less from a scarcity of new ideas than from the struggle to determine which ideas to support and scale. At bigger companies, this can be particularly problematic during market discontinuities, when supporting the next wave of growth may seem too risky, at least until competitive dynamics force painful changes.

Innovation is inherently risky, to be sure, and getting the most from a portfolio of innovation initiatives is more about managing risk than eliminating it. Since no one knows exactly where valuable innovations will emerge, and searching everywhere is impractical, executives must create some boundary conditions for the opportunity spaces they want to explore. The process of identifying and bounding these spaces can run the gamut from intuitive visions of the future to carefully scrutinized strategic analyses. Thoughtfully prioritizing these spaces also allows companies to assess whether they have enough investment behind their most valuable opportunities.

During this process, companies should set in motion more projects than they will ultimately be able to finance, which makes it easier to kill those that prove less promising. RELX Group, for example, runs 10 to 15 experiments per major customer segment, each funded with a preliminary budget of around $200,000, through its innovation pipeline every year, choosing subsequently to invest more significant funds in one or two of them, and dropping the rest. “One of the hardest things to figure out is when to kill something,” says Kumsal Bayazit, RELX Group’s chief strategy officer. “It’s a heck of a lot easier if you have a portfolio of ideas.”

Once the opportunities are defined, companies need transparency into what people are working on and a governance process that constantly assesses not only the expected value, timing, and risk of the initiatives in the portfolio but also its overall composition. There’s no single mix that’s universally right. Most established companies err on the side of overloading their innovation pipelines with relatively safe, short-term, and incremental projects that have little chance of realizing their growth targets or staying within their risk parameters. Some spread themselves thinly across too many projects instead of focusing on those with the highest potential for success and resourcing them to win.

These tendencies get reinforced by a sluggish resource-reallocation process. Our research shows that a company typically reallocates only a tiny fraction of its resources from year to year, thereby sentencing innovation to a stagnating march of incrementalism. 1 1. See Stephen Hall, Dan Lovallo, and Reinier Musters, “ How to put your money where your strategy is ,” McKinsey Quarterly , March 2012; and Vanessa Chan, Marc de Jong, and Vidyadhar Ranade, “ Finding the sweet spot for allocating innovation resources ,” McKinsey Quarterly , May 2014.

Innovation also requires actionable and differentiated insights—the kind that excite customers and bring new categories and markets into being. How do companies develop them? Genius is always an appealing approach, if you have or can get it. Fortunately, innovation yields to other approaches besides exceptional creativity.

The rest of us can look for insights by methodically and systematically scrutinizing three areas: a valuable problem to solve, a technology that enables a solution, and a business model that generates money from it. You could argue that nearly every successful innovation occurs at the intersection of these three elements. Companies that effectively collect, synthesize, and “collide” them stand the highest probability of success. “If you get the sweet spot of what the customer is struggling with, and at the same time get a deeper knowledge of the new technologies coming along and find a mechanism for how these two things can come together, then you are going to get good returns,” says Alcoa chairman and chief executive Klaus Kleinfeld.

The insight-discovery process, which extends beyond a company’s boundaries to include insight-generating partnerships, is the lifeblood of innovation. We won’t belabor the matter here, though, because it’s already the subject of countless articles and books. 2 2. See, for example, Marla M. Capozzi, Reneé Dye, and Amy Howe, “ Sparking creativity in teams: An executive’s guide ,” McKinsey Quarterly , April 2011; and Marla M. Capozzi, John Horn, and Ari Kellen, “ Battle-test your innovation strategy ,” McKinsey Quarterly , December 2012. One thing we can add is that discovery is iterative, and the active use of prototypes can help companies continue to learn as they develop, test, validate, and refine their innovations. Moreover, we firmly believe that without a fully developed innovation system encompassing the other elements described in this article, large organizations probably won’t innovate successfully, no matter how effective their insight-generation process is. 

Would you like to learn more about our Strategy & Corporate Finance Practice ?

Business-model innovations—which change the economics of the value chain, diversify profit streams, and/or modify delivery models—have always been a vital part of a strong innovation portfolio. As smartphones and mobile apps threaten to upend oldline industries, business-model innovation has become all the more urgent: established companies must reinvent their businesses before technology-driven upstarts do. Why, then, do most innovation systems so squarely emphasize new products? The reason, of course, is that most big companies are reluctant to risk tampering with their core business model until it’s visibly under threat. At that point, they can only hope it’s not too late.

Leading companies combat this troubling tendency in a number of ways. They up their game in market intelligence, the better to separate signal from noise. They establish funding vehicles for new businesses that don’t fit into the current structure. They constantly reevaluate their position in the value chain, carefully considering business models that might deliver value to priority groups of new customers. They sponsor pilot projects and experiments away from the core business to help combat narrow conceptions of what they are and do. And they stress-test newly emerging value propositions and operating models against countermoves by competitors.

Amazon does a particularly strong job extending itself into new business models by addressing the emerging needs of its customers and suppliers. In fact, it has included many of its suppliers in its customer base by offering them an increasingly wide range of services, from hosted computing to warehouse management. Another strong performer, the Financial Times , was already experimenting with its business model in response to the increasing digitalization of media when, in 2007, it launched an innovative subscription model, upending its relationship with advertisers and readers. “We went against the received wisdom of popular strategies at the time,” says Caspar de Bono, FT board member and managing director of B2B. “We were very deliberate in getting ahead of the emerging structural change, and the decisions turned out to be very successful.” In print’s heyday, 80 percent of the FT ’s revenue came from print advertising. Now, more than half of it comes from content, and two-thirds of circulation comes from digital subscriptions.

Virulent antibodies undermine innovation at many large companies. Cautious governance processes make it easy for stifling bureaucracies in marketing, legal, IT, and other functions to find reasons to halt or slow approvals. Too often, companies simply get in the way of their own attempts to innovate. A surprising number of impressive innovations from companies were actually the fruit of their mavericks, who succeeded in bypassing their early-approval processes. Clearly, there’s a balance to be maintained: bureaucracy must be held in check, yet the rush to market should not undermine the cross-functional collaboration, continuous learning cycles, and clear decision pathways that help enable innovation. Are managers with the right knowledge, skills, and experience making the crucial decisions in a timely manner, so that innovation continually moves through an organization in a way that creates and maintains competitive advantage, without exposing a company to unnecessary risk?

Companies also thrive by testing their promising ideas with customers early in the process, before internal forces impose modifications that blur the original value proposition. To end up with the innovation initially envisioned, it’s necessary to knock down the barriers  that stand between a great idea and the end user. Companies need a well-connected manager to take charge of a project and be responsible for the budget, time to market, and key specifications—a person who can say yes rather than no. In addition, the project team needs to be cross-functional in reality, not just on paper. This means locating its members in a single place and ensuring that they give the project a significant amount of their time (at least half) to support a culture that puts the innovation project’s success above the success of each function.

Cross-functional collaboration can help ensure end-user involvement throughout the development process. At many companies, marketing’s role is to champion the interests of end users as development teams evolve products and to help ensure that the final result is what everyone first envisioned. But this responsibility is honored more often in the breach than in the observance. Other companies, meanwhile, rationalize that consumers don’t necessarily know what they want until it becomes available. This may be true, but customers can certainly say what they don’t like. And the more quickly and frequently a project team gets—and uses—feedback, the more quickly it gets a great end result.

Some ideas, such as luxury goods and many smartphone apps, are destined for niche markets. Others, like social networks, work at global scale. Explicitly considering the appropriate magnitude and reach of a given idea is important to ensuring that the right resources and risks are involved in pursuing it. The seemingly safer option of scaling up over time can be a death sentence. Resources and capabilities must be marshaled to make sure a new product or service can be delivered quickly at the desired volume and quality. Manufacturing facilities, suppliers, distributors, and others must be prepared to execute a rapid and full rollout.

For example, when TomTom launched its first touch-screen navigational device, in 2004, the product flew off the shelves. By 2006, TomTom’s line of portable navigation devices reached sales of about 5 million units a year, and by 2008, yearly volume had jumped to more than 12 million. “That’s faster market penetration than mobile phones” had, says Harold Goddijn, TomTom’s CEO and cofounder. While TomTom’s initial accomplishment lay in combining a well-defined consumer problem with widely available technology components, rapid scaling was vital to the product’s continuing success. “We doubled down on managing our cash, our operations, maintaining quality, all the parts of the iceberg no one sees,” Goddijn adds. “We were hugely well organized.”

In the space of only a few years, companies in nearly every sector have conceded that innovation requires external collaborators. Flows of talent and knowledge increasingly transcend company and geographic boundaries. Successful innovators achieve significant multiples for every dollar invested in innovation by accessing the skills and talents of others. In this way, they speed up innovation and uncover new ways to create value for their customers and ecosystem partners.

Smart collaboration with external partners, though, goes beyond merely sourcing new ideas and insights; it can involve sharing costs and finding faster routes to market. Famously, the components of Apple’s first iPod were developed almost entirely outside the company; by efficiently managing these external partnerships, Apple was able to move from initial concept to marketable product in only nine months. NASA’s Ames Research Center teams up not just with international partners—launching joint satellites with nations as diverse as Lithuania, Saudi Arabia, and Sweden—but also with emerging companies, such as SpaceX.

High-performing innovators work hard to develop the ecosystems that help deliver these benefits. Indeed, they strive to become partners of choice, increasing the likelihood that the best ideas and people will come their way. That requires a systematic approach. First, these companies find out which partners they are already working with; surprisingly few companies know this. Then they decide which networks—say, four or five of them—they ideally need to support their innovation strategies. This step helps them to narrow and focus their collaboration efforts and to manage the flow of possibilities from outside the company. Strong innovators also regularly review their networks, extending and pruning them as appropriate and using sophisticated incentives and contractual structures to motivate high-performing business partners. Becoming a true partner of choice is, among other things, about clarifying what a partnership can offer the junior member: brand, reach, or access, perhaps. It is also about behavior. Partners of choice are fair and transparent in their dealings.

Moreover, companies that make the most of external networks have a good idea of what’s most useful at which stages of the innovation process. In general, they cast a relatively wide net in the early going. But as they come closer to commercializing a new product or service, they become narrower and more specific in their sourcing, since by then the new offering’s design is relatively set.

How do leading companies stimulate, encourage, support, and reward innovative behavior and thinking among the right groups of people? The best companies find ways to embed innovation into the fibers of their culture, from the core to the periphery.

They start back where we began: with aspirations that forge tight connections among innovation, strategy, and performance. When a company sets financial targets for innovation and defines market spaces, minds become far more focused. As those aspirations come to life through individual projects across the company, innovation leaders clarify responsibilities using the appropriate incentives and rewards.

The Discovery Group, for example, is upending the medical and life-insurance industries in its native South Africa and also has operations in the United Kingdom, the United States, and China, among other locations. Innovation is a standard measure in the company’s semiannual divisional scorecards—a process that helps mobilize the organization and affects roughly 1,000 of the company’s business leaders. “They are all required to innovate every year,” Discovery founder and CEO Adrian Gore says of the company’s business leaders. “They have no choice.”

Organizational changes may be necessary, not because structural silver bullets exist—we’ve looked hard for them and don’t think they do—but rather to promote collaboration, learning, and experimentation. Companies must help people to share ideas and knowledge freely, perhaps by locating teams working on different types of innovation in the same place, reviewing the structure of project teams to make sure they always have new blood, ensuring that lessons learned from success and failure are captured and assimilated, and recognizing innovation efforts even when they fall short of success.

Internal collaboration and experimentation can take years to establish, particularly in large, mature companies with strong cultures and ways of working that, in other respects, may have served them well. Some companies set up “innovation garages” where small groups can work on important projects unconstrained by the normal working environment while building new ways of working that can be scaled up and absorbed into the larger organization. NASA, for example, has ten field centers. But the space agency relies on the Ames Research Center, in Silicon Valley, to maintain what its former director, Dr. Pete Worden, calls “the character of rebels” to function as “a laboratory that’s part of a much larger organization.”

Big companies do not easily reinvent themselves as leading innovators. Too many fixed routines and cultural factors can get in the way. For those that do make the attempt, innovation excellence is often built in a multiyear effort that touches most, if not all, parts of the organization. Our experience and research suggest that any company looking to make this journey will maximize its probability of success by closely studying and appropriately assimilating the leading practices of high-performing innovators. Taken together, these form an essential operating system for innovation within a company’s organizational structure and culture.

Marc de Jong is a principal in McKinsey’s Amsterdam office, Nathan Marston is a principal in the London office, and Erik Roth is a principal in the Shanghai office.

The authors wish to thank Jill Hellman and McKinsey’s Peet van Biljon for their contributions to this article.

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Innovation in Business: What It Is & Why It’s Important

• 08 Mar 2022

Today’s competitive landscape heavily relies on innovation. Business leaders must constantly look for new ways to innovate because you can't solve many problems with old solutions.

Innovation is critical across all industries; however, it's important to avoid using it as a buzzword and instead take time to thoroughly understand the innovation process.

Here's an overview of innovation in business, why it's important, and how you can encourage it in the workplace.

What Is Innovation?

Innovation and creativity are often used synonymously. While similar, they're not the same. Using creativity in business is important because it fosters unique ideas . This novelty is a key component of innovation.

For an idea to be innovative, it must also be useful. Creative ideas don't always lead to innovations because they don't necessarily produce viable solutions to problems.

Simply put: Innovation is a product, service, business model, or strategy that's both novel and useful. Innovations don't have to be major breakthroughs in technology or new business models; they can be as simple as upgrades to a company's customer service or features added to an existing product.

Access your free e-book today.

Types of Innovation

Innovation in business can be grouped into two categories : sustaining and disruptive.

• Sustaining innovation: Sustaining innovation enhances an organization's processes and technologies to improve its product line for an existing customer base. It's typically pursued by incumbent businesses that want to stay atop their market.
• Disruptive innovation: Disruptive innovation occurs when smaller companies challenge larger businesses. It can be classified into groups depending on the markets those businesses compete in. Low-end disruption refers to companies entering and claiming a segment at the bottom of an existing market, while new-market disruption denotes companies creating an additional market segment to serve a customer base the existing market doesn't reach.

The most successful companies incorporate both types of innovation into their business strategies. While maintaining an existing position in the market is important, pursuing growth is essential to being competitive. It also helps protect a business against other companies affecting its standing.

Learn about the differences between sustaining and disruptive innovation in the video below, and subscribe to our YouTube channel for more explainer content!

The Importance of Innovation

Unforeseen challenges are inevitable in business. Innovation can help you stay ahead of the curve and grow your company in the process. Here are three reasons innovation is crucial for your business:

• It allows adaptability: The recent COVID-19 pandemic disrupted business on a monumental scale. Routine operations were rendered obsolete over the course of a few months. Many businesses still sustain negative results from this world shift because they’ve stuck to the status quo. Innovation is often necessary for companies to adapt and overcome the challenges of change.
• It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today’s highly competitive world.
• It separates businesses from their competition: Most industries are populated with multiple competitors offering similar products or services. Innovation can distinguish your business from others.

Innovation & Design Thinking

Several tools encourage innovation in the workplace. For example, when a problem’s cause is difficult to pinpoint, you can turn to approaches like creative problem-solving . One of the best approaches to innovation is adopting a design thinking mentality.

Design thinking is a solutions-based, human-centric mindset. It's a practical way to strategize and design using insights from observations and research.

Four Phases of Innovation

Innovation's requirements for novelty and usefulness call for navigating between concrete and abstract thinking. Introducing structure to innovation can guide this process.

In the online course Design Thinking and Innovation , Harvard Business School Dean Srikant Datar teaches design thinking principles using a four-phase innovation framework : clarify, ideate, develop, and implement.

• Clarify: The first stage of the process is clarifying a problem. This involves conducting research to empathize with your target audience. The goal is to identify their key pain points and frame the problem in a way that allows you to solve it.
• Ideate: The ideation stage involves generating ideas to solve the problem identified during research. Ideation challenges assumptions and overcomes biases to produce innovative ideas.
• Develop: The development stage involves exploring solutions generated during ideation. It emphasizes rapid prototyping to answer questions about a solution's practicality and effectiveness.
• Implement: The final stage of the process is implementation. This stage involves communicating your developed idea to stakeholders to encourage its adoption.

Human-Centered Design

Innovation requires considering user needs. Design thinking promotes empathy by fostering human-centered design , which addresses explicit pain points and latent needs identified during innovation’s clarification stage.

There are three characteristics of human-centered design:

• Desirability: For a product or service to succeed, people must want it. Prosperous innovations are attractive to consumers and meet their needs.
• Feasibility: Innovative ideas won't go anywhere unless you have the resources to pursue them. You must consider whether ideas are possible given technological, economic, or regulatory barriers.
• Viability: Even if a design is desirable and feasible, it also needs to be sustainable. You must consistently produce or deliver designs over extended periods for them to be viable.

Consider these characteristics when problem-solving, as each is necessary for successful innovation.

The Operational and Innovative Worlds

Creativity and idea generation are vital to innovation, but you may encounter situations in which pursuing an idea isn't feasible. Such scenarios represent a conflict between the innovative and operational worlds.

The Operational World

The operational world reflects an organization's routine processes and procedures. Metrics and results are prioritized, and creativity isn't encouraged to the extent required for innovation. Endeavors that disrupt routine—such as risk-taking—are typically discouraged.

The Innovative World

The innovative world encourages creativity and experimentation. This side of business allows for open-endedly exploring ideas but tends to neglect the functional side.

Both worlds are necessary for innovation, as creativity must be grounded in reality. You should strive to balance them to produce human-centered solutions. Design thinking strikes this balance by guiding you between the concrete and abstract.

Learning the Ropes of Innovation

Innovation is easier said than done. It often requires you to collaborate with others, overcome resistance from stakeholders, and invest valuable time and resources into generating solutions. It can also be highly discouraging because many ideas generated during ideation may not go anywhere. But the end result can make the difference between your organization's success or failure.

The good news is that innovation can be learned. If you're interested in more effectively innovating, consider taking an online innovation course. Receiving practical guidance can increase your skills and teach you how to approach problem-solving with a human-centered mentality.

Eager to learn more about innovation? Explore Design Thinking and Innovation ,one of our online entrepreneurship and innovation courses. If you're not sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

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Disruptive Innovation 2021: These 15 big ideas are most likely to change the world

ARK Invest defines ''disruptive innovation'' as the introduction of a technologically enabled new product or service that potentially changes the way the world works. ARK focuses solely on offering investment solutions to capture disruptive innovation in the public equity markets.

ARK began publishing Big Ideas in 2017. This annual research report seeks to highlight the latest developments in innovation and offers some of our most provocative research conclusions for the year. ARK notes that risks associated with investment in disruptive innovation include: rapid pace of change, exposure across sectors and markets, uncertainty and unknowns, regulatory hurdles, political and legal pressures and competitive landscape.    

Special Feature

Special report: 5g: what it means for edge computing (free pdf).

This ebook, based on the latest ZDNet / TechRepublic special feature, helps business leaders understand how cloud providers, telecoms, and carriers will make 5G part of their edge-computing plans.

ARK Big Ideas 2021 include the following:

• Deep Learning
• The Reinvention of the Data Center
• Virtual Worlds
• Digital Wallets
• Bitcoin Fundamentals
• Bitcoin: Preparing For Institutions
• Electric Vehicles (EVs)
• Autonomous Ride-Hailing
• Delivery Drones
• Orbital Aerospace
• 3D Printing
• Long Read Sequencing
• Multi-Cancer Screening
• Cell and Gene Therapy: Generation 2

The ARK Big Ideas 2021 report is quite comprehensive, covering several key emerging and new technologies and innovation opportunities. I recently interviewed ARK with a focus on the future of autonomous electric vehicles and Tesla. In this article I will share some of the big ideas that I believe to be the most immediately impactful and disruptive innovation for 2021 and beyond. 

executive guide

What is machine learning everything you need to know.

Here's how it's related to artificial intelligence, how it works and why it matters.

DEEP LEARNING

According to ARK, Deep Learning could be the most important software breakthrough of our time.  According to ARK's research, deep learning will add $30 trillion to the global equity market capitalization during the next 15-20 years. Deep Learning is creating the next generation of computing platforms including: 

• Conversational computers: Powered by AI, smart speakers answered 100 billion voice commands in 2020, 75% more than in 2019.
• Self-driving cars: Waymo's autonomous vehicles have collected more than 20 million real-world driving miles across 25 cities, including San Francisco, Detroit, and Phoenix.
• Consumer apps: TikTok, which uses deep learning for video recommendations, has outgrown Snapchat and Pinterest combined.

Deep Learning is software 2.0 

Deep Learning requires boundless computational power. ARK states: "While advances in hardware and software have been driving down AI training costs by 37% per year, the size of AI models is growing much faster, 10x per year. As a result, total AI training costs continue to climb. We believe that state-of-the-art AI training model costs1 are likely to increase 100-fold, from roughly $1 million today to more than $100 million by 2025."

Deep Learning will also create a boom in the AI chips. ARK estimates that data center spending on AI processors will scale more than four-fold during the next five years, from $5 billion a year today to $22 billion in 2025. ARK is forecasting an expansion of AI from vision to language. The reports notes: "2020 was the breakthrough year for conversational AI. For the first time, AI systems could understand and generate language with human-like accuracy. Conversational AI requires 10x the computing resources of computer vision and should spur large investments in the coming years."

Total AI chip market 

Perhaps the biggest bold estimate in the reports is that Deep Learning could create more economic value than the Internet did. ARK believes that deep learning will add $30 trillion to equity market capitalizations during the next 15-20 years.

The economic impact of deep learning may be bigger than the Internet. 

AR and VR mean business: Everything you need to know

An executive guide to the technology and market drivers behind the hype in AR, VR, and MR.

VIRTUAL WORLDS

A virtual world is defined as a computer-simulated environment (video games, augmented reality (AR) and virtual reality (VR)), that can be accessed by anyone at any time. Society interacts daily with virtual worlds which today are in their infancy. According to ARK, revenue from virtual worlds will compound 17% annually from roughly $180 billion today to $390 billion by 2025. 

By 2022, consumer-grade AR headsets should turbocharge investments in augmented reality on mobile devices.  ARK forecasts that by 2030 the AR market could scale from under a $1 billion today to $130 billion. ARK estimates that virtual reality could approach realty by 2030 with best-in-class VR headsets only achieving 10% of human visual immersion today.

Augmented Reality AR market growth projections. 

The revenue from virtual worlds could approach $400 billion by 2025. Based on our research, the global gaming market will increase at a 16% compound annual rate during the next five years, from $175 billion in 2020 to roughly $365 billion by 2025. The AR & VR markets will grow at a 59% compound annual rate during the next five years, from $3 billion to $28 billion in 2025.

The global gaming and VR/AR market by 2025. 

Digital wallets

ARK estimates that digital wallets represent a $4.6 trillion opportunity in your pocket. ARK points to Venmo, Cash App, and venture funded startups who are likely to upend traditional banking by activating the mobile phones — the bank branches — in users' pockets and handbags.

According to ARK's research, digital wallets are valued between $250 and $1,900 per user today but could scale to $20,000 per user, representing a $4.6 trillion opportunity in the US by 2025. ARK references China as the best example of digital wallet adoption. Per ARK: The volume of mobile payments in China has exploded more than 15-fold in just five years, from roughly $2 trillion in 2015 to an estimated $36 trillion, nearly three times the size of China's GDP in 2020.

Digital wallets are now a global phenomenon 

In the US, digital wallet users are surpassing the number of deposit account holders at the largest financial institutions. Square's Cash App and PayPal's Venmo each amassed roughly 60 million active users organically in the last 7 and 10 years, respectively, a milestone that took J.P. Morgan more than 30 years and five acquisitions to reach.

Deposit accounts versus cash apps in the US

The most important takeaway here is that digital wallets can acquire customers for a fraction of banks' customer acquisition cost.  According to ARK's research, compared to the roughly $1,000 that a traditional financial institution might pay to acquire a new checking account customer, digital wallets invest only $20 thanks to viral peer-to-peer payment ecosystems, savvy marketing strategies, and dramatically lower cost structures. Given the rising cost of bank branches, the benefits of mobile banking and digital wallets is key to offset expenditures and also deliver a more seamless user experience.

Digital wallets is the most cost effective methods for customer acquisitions in the banking industry 

ARK highlights a potential sizable risk to traditional banks. According to ARK estimates, bank interest income on credit cards fell more than 10%, or roughly $16 billion in 2020 and is likely to drop more than 25% further, from $130 billion in 2019 to $95 billion by 2025. ARK also estimates that at maturity, each digital wallet user could be worth about $20,000. If digital wallets were to become consumer financial dashboards, ARK estimates that the net present value associated with their financial service revenues will exceed $10,000 per average US user. 

The value of a digital wallet owner to a bank in a mature market. 

According to ARK's research, if each of the estimated 230 million US digital wallet users were valued at $19,900 in 2025, the US digital wallet opportunity would be worth $4.6 trillion.

Cryptocurrency 101: What every business needs to know

There’s promise and peril in the still-evolving world of cryptocurrencies such as Bitcoin and Ether.

• Payment distancing: Apple and Google, we need our cashless society even more in pandemic times

Bitcoin fundamentals

As bitcoin's price hit an all-time high, ARK's research indicated that its network fundamentals remained healthy. Per ARK research, if all S&P 500 companies were to allocate 1% of their cash to bitcoin, ARK estimates that its price would increase by approximately $40,000.  As of November 2020, roughly 60% of Bitcoin's supply had not moved in more than a year, a testament to the market's longer-term focus and a holder base with stronger conviction. Another interesting data point about the hype around bitcoins is that ARK shows that bitcoin's search interest is low relative to the increase in its price. As its price neared all-time highs, Bitcoin's Google search interest was at 15% of its all-time high.

Bitcoin's Market Participants Never Have Been More Long-Term Focused

ARK notes that Bitcoin could play a pivotal role as corporate cash. The research sites Square and MicroStrategy, both with balance sheet investments in bitcoin, are showing the way for public companies to deploy bitcoin as a legitimate alternative to cash. According to our research, if all S&P 500 companies were to allocate 1% of their cash to bitcoin,1 its price could increase by approximately $40,000.

Electric Vehicles 

2021 is the year of EVs.  Electric vehicles are approaching sticker price parity with gas-powered cars. Leaders in the EV market are developing innovative battery designs to enable longer range vehicles at lower costs.

Based on Wright's Law, ARK forecasts that EV sales should increase roughly 20-fold from ~2.2 million in 2020 to 40 million units in 2025. ARK believes the biggest downside risk to our forecast is whether traditional automakers can transition successfully to electric and autonomous vehicles. The total cost of ownership for a like-for-like EV dropped below that of a Toyota Camry in 2019.1 Soon, sticker prices likely will do the same. The auto market is undergoing a shift to both electric and autonomous. ARK believes that traditional automakers lack the software and electrical engineering talent necessary to succeed.

EVs Are Competing On Range And Performance

According to @ARKInvest , @Tesla is 3-4 years ahead of all autonomous electrical vehicle competitors. In addition, potential new ride-hailing services and the @boringcompany can further solidify Tesla’s dominant EV leadership position. https://t.co/CZZAf3z1Df — Vala Afshar (@ValaAfshar) January 27, 2021

If traditional automakers overcome obstacles, global EV sales could scale roughly 20-fold from 2.2 million in 2020 to 40 million by 2025. ARK expects that sales of smaller, cheaper, "neighborhood electric vehicles" will rise dramatically as a share of total EV sales.

Global Electric Vehicle Sales: 40 million by 2025

Special feature

Ai, automation, and tech jobs.

There are some things that machines are simply better at doing than humans, but humans still have plenty going for them. Here's a look at how the two are going to work in concert to deliver a more powerful future for IT, and the human race.

The robots are coming to help you and create jobs. Per ARK: automation has the potential to shift unpaid labor to paid labor. For example, as food services automate, they will transform food prep, cleanup, and grocery shopping into market activities including food delivery.

ARK believes automation will add 5%, or $1.2 trillion to US GDP during the next five years. Thanks to increased productivity and automation, ARK expects a combination of the following four outcomes:

• Higher wages: benefiting employees
• Lower prices: benefiting consumers
• Higher margins: benefiting companies
• Higher investments: creating virtuous cycles

According to ARK's research, for every percentage drop in labor share in the industrial and agricultural sectors, operating margins increased 30 basis points and 280 basis points, respectively. ARK would not be surprised to see a similar relationship in all industries. If labor share were to fall 15%, in line with manufacturing, operating margins could double to more than 20%.

Automation could add 5%, or $1.2 trillion, to US GDP during the next five years. ARK believes automation will boost US real GDP growth by 100 basis points on average per year to 3.4%.

Automation could add 5%, or $1.2 trillion, to US GDP during the next five years.

The big ideas 2021 report from ARK is incredibly insightful. Here are some more bold predictions you can find in the report: 

• AUTONOMOUS RIDE-HAILING : ARK's research suggests that autonomous ride-hailing platforms will generate more than $1 trillion in profits per year by 2030. In addition, automakers and fleet owners could enjoy profits of $250 billion and $70 billion, respectively. Enterprise value for autonomous platform operators could scale to 3.8T by 2025.
• DRONES :  ARK believes that drone delivery platforms will generate roughly $275 billion in delivery revenues, $50 billion in hardware sales, and $12 billion in mapping revenue by 2030. ARK estimates that at some point during the next five years, drones will deliver more than 20% of parcel shipments and significantly drive e-commerce adoption. While not yet commercialized, ARK estimates that drone delivery platforms will generate nearly $50 billion in revenues, $14 billion in hardware sales, and $3 billion in mapping revenues by 2025.
• 3D PRINTING : ARK believes 3D printing will revolutionize manufacturing, growing at an annual rate of roughly 60% from $12 billion last year to $120 billion in 2025.  ARK estimates that drone hardware revenues will total roughly $100 billion by 2025.  

To learn more about the 15 disruption innovation categories in the ARK Invest Big Ideas 2021 report, visit here . 

AI hype, in dollars and sense

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Innovation Areas

Browse innovation resources by topic, from idea generation to innovation management.

Innovation Management

This area focuses on strategies, processes, and tools for managing innovation within organizations.

Technology and Digital Innovation

Focuses on the role of technology and digital tools in driving and facilitating innovation.

Market and Customer Insights

Focuses on understanding market trends, customer needs, and feedback for guiding innovation efforts.

Change Management and Adoption

Deals with the processes of implementing innovation within organizations and ensuring its adoption.

Innovation Metrics and Measurement

Involves the assessment and tracking of innovation performance and impact.

Innovation Types

Different classifications and forms of innovation, such as incremental, radical, disruptive, and more. Innovation can be approached from many different angles. Do you want to create a new strategy for your company, innovate your products or research for the next disruptive innovation?

Innovation Learnings

Insights and lessons learned from innovation practices, including successes, failures, and continuous improvement strategies. What great insights do you need to understand innovation? Before applying specific innovation tools, check out this section with tips on how to innovate and great examples.

Emerging Trends and Future Foresight

Involves identifying and analyzing emerging trends and future possibilities in innovation.

Innovation Process

Steps and stages involved in the innovation journey, from idea generation to implementation and evaluation. What is the innovation process? Each step in the process requires a different mindset, different methods and different innovation tools. Check out what resources can help you in this moment and in the future.

Collaboration and Co-Creation

Pertains to the collaborative aspects of innovation, including working with external partners and customers.

Research and Development (R&D)

Includes terms related to the systematic investigation and development of new products, services, or processes.

Product and Service Innovation

Pertains to the development of new or improved products and services, including methodologies and lifecycle management.

Sustainability and Environmental Innovation

Focuses on innovation aimed at environmental sustainability and green practices.

Innovation Strategies

Encompasses various approaches and frameworks used to guide and drive innovation efforts.

Innovation Leadership and Culture

Covers aspects of leading innovation initiatives and building a culture that supports creative thinking and innovation.

Organizational Innovation

Deals with the ways in which organizations structure and orient themselves to foster and support innovation.

Creative Processes and Design Thinking

Involves methodologies and techniques for generating innovative ideas and solutions.

Entrepreneurship and Startups

Related to the process of starting new businesses and fostering entrepreneurial spirit for innovation.

Research Topics & Ideas: Business

50+ Management Research Topic Ideas To Fast-Track Your Project

Finding and choosing a strong research topic is the critical first step when it comes to crafting a high-quality dissertation, thesis or research project. If you’ve landed on this post, chances are you’re looking for a business/management-related research topic , but aren’t sure where to start. Here, we’ll explore a variety of  research ideas and topic thought-starters for management-related research degrees (MBAs/DBAs, etc.). These research topics span management strategy, HR, finance, operations, international business and leadership.

NB – This is just the start…

The topic ideation and evaluation process has multiple steps . In this post, we’ll kickstart the process by sharing some research topic ideas within the management domain. This is the starting point, but to develop a well-defined research topic, you’ll need to identify a clear and convincing research gap , along with a well-justified plan of action to fill that gap.

If you’re new to the oftentimes perplexing world of research, or if this is your first time undertaking a formal academic research project, be sure to check out our free dissertation mini-course. In it, we cover the process of writing a dissertation or thesis from start to end. Be sure to also sign up for our free webinar that explores how to find a high-quality research topic. 

Overview: Business Research Topics

• Business /management strategy
• Human resources (HR) and industrial psychology
• Finance and accounting
• Operations management
• International business
• Actual business dissertations & theses

Strategy-Related Research Topics

• An analysis of the impact of digital transformation on business strategy in consulting firms
• The role of innovation in transportation practices for creating a competitive advantage within the agricultural sector
• Exploring the effect of globalisation on strategic decision-making practices for multinational Fashion brands.
• An evaluation of corporate social responsibility in shaping business strategy, a case study of power utilities in Nigeria
• Analysing the relationship between corporate culture and business strategy in the new digital era, exploring the role of remote working.
• Assessing the impact of sustainability practices on business strategy and performance in the motor vehicle manufacturing industry
• An analysis of the effect of social media on strategic partnerships and alliances development in the insurance industry
• Exploring the role of data-driven decision-making in business strategy developments following supply-chain disruptions in the agricultural sector
• Developing a conceptual framework for assessing the influence of market orientation on business strategy and performance in the video game publishing industry
• A review of strategic cost management best practices in the healthcare sector of Indonesia
• Identification of key strategic considerations required for the effective implementation of Industry 4.0 to develop a circular economy
• Reviewing how Globalisation has affected business model innovation strategies in the education sector
• A comparison of merger and acquisition strategies’ effects on novel product development in the Pharmaceutical industry
• An analysis of market strategy performance during recessions, a retrospective review of the luxury goods market in the US
• Comparing the performance of digital stakeholder engagement strategies and their contribution towards meeting SDGs in the mining sector

Topics & Ideas: Human Resources (HR)

• Exploring the impact of digital employee engagement practices on organizational performance in SMEs
• The role of diversity and inclusion in the workplace
• An evaluation of remote employee training and development programs efficacy in the e-commerce sector
• Comparing the effect of flexible work arrangements on employee satisfaction and productivity across generational divides
• Assessing the relationship between gender-focused employee empowerment programs and job satisfaction in the UAE
• A review of the impact of technology and digitisation on human resource management practices in the construction industry
• An analysis of the role of human resource management in talent acquisition and retention in response to globalisation and crisis, a case study of the South African power utility
• The influence of leadership style on remote working employee motivation and performance in the education sector.
• A comparison of performance appraisal systems for managing employee performance in the luxury retail fashion industry
• An examination of the relationship between work-life balance and job satisfaction in blue-collar workplaces, A systematic review
• Exploring HR personnel’s experiences managing digital workplace bullying in multinational corporations
• Assessing the success of HR team integration following merger and acquisition on employee engagement and performance
• Exploring HR green practices and their effects on retention of millennial talent in the fintech industry
• Assessing the impact of human resources analytics in successfully navigating digital transformation within the healthcare sector
• Exploring the role of HR staff in the development and maintenance of ethical business practices in fintech SMEs
• An analysis of employee perceptions of current HRM practices in a fully remote IT workspace

Topics & Ideas: Finance & Accounting

• An analysis of the effect of employee financial literacy on decision-making in manufacturing start-ups in Ghana
• Assessing the impact of corporate green innovation on financial performance in listed companies in Estonia
• Assessing the effect of corporate governance on financial performance in the mining industry in Papua New Guinea
• An evaluation of financial risk management practices in the construction industry of Saudi Arabia
• Exploring the role of leadership financial literacy in the transition from start-up to scale-up in the retail e-commerce industry.
• A review of influential macroeconomic factors on the adoption of cryptocurrencies as legal tender
• An examination of the use of financial derivatives in risk management
• Exploring the impact of the cryptocurrency disruption on stock trading practices in the EU
• An analysis of the relationship between corporate social responsibility and financial performance in academic publishing houses
• A comparison of financial ratios performance in evaluating E-commerce startups in South Korea.
• An evaluation of the role of government policies in facilitating manufacturing companies’ successful transitioning from start-up to scale-ups in Denmark
• Assessing the financial value associated with industry 4.0 transitions in the Indian pharmaceutical industry
• Exploring the role of effective e-leadership on financial performance in the Nigerian fintech industry
• A review of digital disruptions in CRM practices and their associated financial impact on listed companies during the Covid-19 pandemic
• Exploring the importance of Sharia-based business practices on SME financial performance in multicultural countries

Ideas: Operations Management

• An assessment of the impact of blockchain technology on operations management practices in the transport industry of Estonia
• An evaluation of supply chain disruption management strategies and their impact on business performance in Lithuania
• Exploring the role of lean manufacturing in the automotive industry of Malaysia and its effects on improving operational efficiency
• A critical review of optimal operations management strategies in luxury goods manufacturing for ensuring supply chain resilience
• Exploring the role of globalization on Supply chain diversification, a pre/post analysis of the COVID-19 pandemic
• An analysis of the relationship between quality management and customer satisfaction in subscription-based business models
• Assessing the cost of sustainable sourcing practices on operations management and supply chain resilience in the Cocao industry.
• An examination of the adoption of behavioural predictive analytics in operations management practices, a case study of the
• Italian automotive industry
• Exploring the effect of operational complexity on business performance following digital transformation
• An evaluation of barriers to the implementation of agile methods in project management within governmental institutions
• Assessing how the relationship between operational processes and business strategy change as companies transition from start-ups to scale-ups
• Exploring the relationship between operational management and innovative business models, lessons from the fintech industry
• A review of best practices for operations management facilitating the transition towards a circular economy in the fast food industry
• Exploring the viability of lean manufacturing practices in Vietnam’s plastics industry
• Assessing engagement in cybersecurity considerations associated with operations management practices in industry 4.0 manufacturing

Topics & Ideas: International Business

• The impact of cultural differences in communication on international business relationships
• An evaluation of the role of government import and export policies in shaping international business practices
• The effect of global shipping conditions on international business strategies
• An analysis of the challenges of managing multinational corporations: branch management
• The influence of social media marketing on international business operations
• The role of international trade agreements on business activities in developing countries
• An examination of the impact of currency fluctuations on international business and cost competitiveness
• The relationship between international business and sustainable development: perspectives and benefits
• An evaluation of the challenges and opportunities of doing business in emerging markets such as the renewable energy industry
• An analysis of the role of internationalisation via strategic alliances in international business
• The impact of cross-cultural management on international business performance
• The effect of political instability on international business operations: A case study of Russia
• An analysis of the role of intellectual property rights in an international technology company’s business strategies
• The relationship between corporate social responsibility and international business strategy: a comparative study of different industries
• The impact of technology on international business in the fashion industry

Topics & Ideas: Leadership

• A comparative study of the impact of different leadership styles on organizational performance
• An evaluation of transformational leadership in today’s non-profit organizations
• The role of emotional intelligence in effective leadership and productivity
• An analysis of the relationship between leadership style and employee motivation
• The influence of diversity and inclusion on leadership practices in South Africa
• The impact of Artificial Intelligence technology on leadership in the digital age
• An examination of the challenges of leadership in a rapidly changing business environment: examples from the finance industry
• The relationship between leadership and corporate culture and job satisfaction
• An evaluation of the role of transformational leadership in strategic decision-making
• The use of leadership development programs in enhancing leadership effectiveness in multinational organisations
• The impact of ethical leadership on organizational trust and reputation: an empirical study
• An analysis of the relationship between various leadership styles and employee well-being in healthcare organizations
• The role of leadership in promoting good work-life balance and job satisfaction in the age of remote work
• The influence of leadership on knowledge sharing and innovation in the technology industry
• An investigation of the impact of cultural intelligence on cross-cultural leadership effectiveness in global organizations

Business/Management Dissertation & Theses

While the ideas we’ve presented above are a decent starting point for finding a business-related research topic, they are fairly generic and non-specific. So, it helps to look at actual dissertations and theses to see how this all comes together.

Below, we’ve included a selection of research projects from various management-related degree programs (e.g., MBAs, DBAs, etc.) to help refine your thinking. These are actual dissertations and theses, written as part of Master’s and PhD-level programs, so they can provide some useful insight as to what a research topic looks like in practice.

• Sustaining Microbreweries Beyond 5 Years (Yanez, 2022)
• Perceived Stakeholder and Stockholder Views: A Comparison Among Accounting Students, Non-Accounting Business Students And Non-Business Students (Shajan, 2020)
• Attitudes Toward Corporate Social Responsibility and the New Ecological Paradigm among Business Students in Southern California (Barullas, 2020)
• Entrepreneurial opportunity alertness in small business: a narrative research study exploring established small business founders’ experience with opportunity alertness in an evolving economic landscape in the Southeastern United States (Hughes, 2019)
• Work-Integrated Learning in Closing Skills Gap in Public Procurement: A Qualitative Phenomenological Study (Culver, 2021)
• Analyzing the Drivers and Barriers to Green Business Practices for Small and Medium Enterprises in Ohio (Purwandani, 2020)
• The Role of Executive Business Travel in a Virtual World (Gale, 2022)
• Outsourcing Security and International Corporate Responsibility: A Critical Analysis of Private Military Companies (PMCs) and Human Rights Violations (Hawkins, 2022)
• Lean-excellence business management for small and medium-sized manufacturing companies in Kurdistan region of Iraq (Mohammad, 2021)
• Science Data Sharing: Applying a Disruptive Technology Platform Business Model (Edwards, 2022)
• Impact of Hurricanes on Small Construction Business and Their Recovery (Sahu, 2022)

Looking at these titles, you can probably pick up that the research topics here are quite specific and narrowly-focused , compared to the generic ones presented earlier. This is an important thing to keep in mind as you develop your own research topic. That is to say, to create a top-notch research topic, you must be precise and target a specific context with specific variables of interest . In other words, you need to identify a clear, well-justified research gap.

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10 Comments

Great help. thanks

Hi, Your work is very educative, it has widened my knowledge. Thank you so much.

Thank you so much for helping me understand how to craft a research topic. I’m pursuing a PGDE. Thank you

a feasibility study for the establishment of rice processing system in (_____)

Effect of Leadership, computerized accounting systems, risk management and monitoring on the quality of financial Reports among listed banks

May you assist on a possible PhD topic on analyzing economic behaviours within environmental, climate and energy domains, from a gender perspective. I seek to further investigate if/to which extent policies in these domains can be deemed economically unfair from a gender perspective, and whether the effectiveness of the policies can be increased while striving for inequalities not being perpetuated.

healthy work environment and employee diversity, technological innovations and their role in management practices, cultural difference affecting advertising, honesty as a company policy, an analysis of the relationships between quality management and customer satisfaction in subscription based business model,business corruption cases. That I was selected from the above topics.

Research topic accounting

Kindly assist me with a research topic on low income?

Kindly assist me with a research topic on low income? PHD/ Doctoral thesis

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A Guide to Discovering Innovative Research Topics

By charlesworth author services.

Embarking on a research journey is an exciting endeavor for every research and is filled with triumphs and challenges. A pivotal step in this pursuit is selecting an innovative research topic. In the current era where information flows freely, the quest for fresh, groundbreaking ideas holds the power to shape the trajectory of a researcher's discovery. This process of identifying an innovative research topic can be eased by adopting strategies that enable researchers to overcome conventional thinking to unlock new insights.

Strategies to Discover Innovative Research Topics

1. Foster Curiosity and Exploration: At the heart of innovation lies an insatiable sense of curiosity and a willingness to explore connections across diverse domains. Stay updated on the latest developments in your field and related disciplines by attending conferences , seminars, and workshops. Engage with online forums and academic platforms to gain access to research communities from diverse backgrounds, fostering fresh perspectives on longstanding challenges.

2. Identify Research Gaps: Delve deep into the existing body of knowledge, pinpointing unexplored niches or unanswered questions that could potentially lead to disruptive discoveries. Explore online databases, academic platforms, and research repositories to identify gaps that existing studies have yet to address comprehensively.

3. Embrace Interdisciplinary Collaboration: Pioneering research frequently emerges at the intersection of multiple disciplines, where diverse perspectives and methodologies converge to offer novel solutions. Actively seek out collaborations with researchers from complementary fields. Such collaborations can uncover unexpected connections and catalyse breakthroughs that transcend traditional disciplinary boundaries.

4. Consider Real-World Impact: While fundamental research is invaluable, innovative investigations that address pressing real-world challenges or offer practical applications have a profound impact. Identify societal, environmental, or technological problems that your research could potentially solve or shed light upon. This approach increases the relevance and significance of your work and can open doors to diverse funding opportunities and interdisciplinary collaborations.

5. Cultivate an Innovative Mindset: Cultivating an innovative mindset is essential for embarking on pioneering research. Develop creative and lateral thinking skills, challenge yourself to venture beyond your field of research, and maintain a habit of regular reading across disciplines. Interact meaningfully with mentors, peers, and researchers in other fields to gain fresh perspectives on old problems.

6. Maintain Feasibility and Ethical Standards: While the pursuit of innovation should be a driving force, it is equally crucial to ensure that research ideas remain grounded in reality. Pursue ambitious goals, but ensure they are achievable given practical constraints.

Moreover, ethical integrity must remain a guiding principle. He Jiankui's gene-edited babies case serves as an example, showcasing the need to adhere to ethical standards for responsible scientific advancement . Despite the pioneering nature of his work involving the use of CRISPR-Cas9 technology to modify the DNA of embryos, it underscores the critical importance of respecting ethical and legal boundaries for responsible scientific advancement.

7. Embrace Failure and Experimentation: Innovation involves taking risks, trying new things, and making mistakes. Embrace failure as an opportunity to learn, improve, and grow. Cultivate a mindset that enables you to create a safe and supportive environment for yourself and your team to experiment, fail, and recover without fear of judgment, criticism, or punishment. By embracing failure, you can be one step closer to innovation.

Cultivating an Innovative Mindset

Beyond the strategies outlined above, cultivating certain skills and habits is crucial for fostering an innovative mindset:

i. Cultivate Beginner's Mindset: Try to dismantle all your preconceptions to develop a mindset that examines every aspect of what is known.

ii. Engage in Reflective Practice: Regularly step back and reflect on your research process to uncover any blind spots that may be hindering your ability to come up with an innovative solution.

iii. Practice Active Observation: Science has time and again proven that there reside patterns in almost everything that surrounds us, and where there is a pattern, an anomaly is bound to follow. Actively observe the developments in your field of interest to discover such patterns and anomalies.

iv. Visualize concepts: Develop the habit of visually organising the core concepts and research questions that you want to focus on to identify relationships and potential areas of research exploration. Using concept mapping techniques can ease this process.

v. Read Regularly: Develop a habit of regular reading across disciplines, exposing yourself to a diverse range of ideas and perspectives.

Pursuing innovative research topics is an exciting journey that requires curiosity, critical thinking, collaboration across different fields, and a willingness to question norms ethically. By following the practical tips outlined, researchers can make significant contributions to their fields, uncovering discoveries that push the boundaries of human knowledge and understanding.

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Program for Research in Markets & Organizations

HBS faculty conduct research on a wide variety of topics. In the application you must indicate your top three choices of research areas, in order of preference, from the topics listed below. Top applicants will be matched with faculty-designed research project based on their indicated interests.

1. Corporate Social Responsibility research explores business impact of delivering economic, social, and environmental benefits to stakeholders.

2. Business and Government researchers study the economic, political, social, and legal environment in which businesses operate. Drawing from perspectives of economic theory, political science, and history, they examine the “rules” and policies established by government and other non-business institutions that affect business in the United States; turn to history to understand the origins of today’s business environment as well as some of the alternatives that have emerged from time to time; and study other countries’ business environments and their historical development. This group of scholars is deeply interested in the impact of globalization and the way rules are emerging to govern international economic transactions as globalization proceeds.

4. Performance Measurement and Outcomes scholars study drivers and effectiveness of performance measurement and management control systems.

5. Market Design seeks to translate economic theory and analysis into practical solutions to real-world problems.

6. Finance researchers strive to understand how managers and firms make value-enhancing decisions; and how financial institutions, markets, and instruments contribute to this process.

7. Globalization scholars concentrate on the effectiveness of management practices in global organizations; cross-cultural learning and adaptation processes; the challenges of taking companies global; emerging-market companies with global potential; and international political economy and its impact on economic development.

8. Health Care research studies how potential application management principles and best practices from other industries can be applied; how the process of innovation can be improved; how principles of strategy and consumer choice can be utilized; how information technology can expand access, decrease costs, and improve quality; and devising approaches in developing nations can impact global health.

9. Human Behavior and Decision-Making research focuses on individual and interactive judgment and decision making, with applications to organizational behavior, consumer behavior, behavioral operations, and behavioral economics. Research topics include the psychology of conversation, ethical decision-making (including cheating and self-deception), the impact of rituals on mourning and consumption, team and organizational dynamics and performance, whether money makes people happy, when and why people disclose information, and health behavior change.

10. Leadership research explores questions of organization change, power and influence, innovation management, and the crucial role leadership plays in organizational success. The topic of leadership spans all academic units at HBS and fosters a collaborative and multi-disciplinary approach.

11. Social Enterprise research seeks to understand the challenges associated with driving sustained, high-impact social change. Current research focuses on leadership of socially mission-driven organizations; the role of business leaders and corporate citizenship in driving social change; business models that address poverty; management of high-performing K-12 public school districts; and financing models for the non-profit sector

12. Technology and Innovation research focuses on value creation of platforms and two-sided markets; use of open architecture and leverage of its collective value; development and execution of innovation strategies; innovative attributes of executives and firms; development of new markets through the creation of disruptive innovations that displace earlier technologies; development of innovations in sectors; and the impact of innovation on economic growth.

13. Other. It is impossible to capture all that HBS faculty study. If you have a specific interest in an area not listed above, please select this category to describe an area of research within the disciplines of economics, sociology, psychology, policy, or history that is relevant to business academia.

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Innovation Management Dissertation Topics

Published by Owen Ingram at January 2nd, 2023 , Revised On August 18, 2023

As a part of the change management sphere of organisational setups, innovation management dissertation topics and ideas have increased in popularity in the last decade. A wide range of issues, including processes, products, and organisational behaviours, is covered in-depth under innovation management.

If you are looking for exciting but focused change management dissertation topics that fit your needs, we are confident that you will find them in the list provided below. If you need additional dissertation writing assistance or guidance, please do not hesitate to contact us .

Comprehensive List Of Innovation Management Dissertation Topics

• A critical examination of organisational innovation management in a digital world in developed economies.
• Corporate foresight and innovation management have a relationship.
• A critical examination of innovation management in organisations with limited resources. A case study of the craft industries in the United Kingdom.
• A systematic examination of the framework for innovation management in the digital age. A case study from the perspectives of organisations in the United Kingdom.
• A descriptive study of construction firms and innovation management.
• An exploratory examination of how technology has been used to manage process innovations in the UK healthcare sector.
• An examination of the impact of innovation management in the UK healthcare sector.
• A case study for organisations implementing tactical innovation management to better understand how corporate innovations generate shareholder confidence.
• A systematic investigation into the management of marketing innovations in the context of collaborative enterprise development.
• Examining the role of innovation management in the hospitality industry regarding human resource practices.
• A critical examination of entrepreneurial attitudes toward innovation. Comparing and contrasting the similarities and differences between developing and developed economies.
• A critical academic examination of the historical context of innovation and its management in today’s organisational context. A time series analysis was spanning the 1980s to the 2000s.
• A critical analysis of innovation Management in the manufacturing sector of the United Kingdom.
• A systematic investigation into developing a framework for managing innovation in the entrepreneurship market.
• A systematic study of technical analysis and the asymmetry of strategic management in the technological cycle of disruptive innovations.
• What does the future hold for innovative managers, according to a futuristic analysis of the domain of innovation management?
• A comparative study of ICT-based innovation and its management principles.
• An exploratory assessment of collaboration, competition, and innovation. A case study of a tribology consortium in the automotive industry.
• Creating a framework for strategic corporate innovation management implementation.
• An assessment of the organisation’s management through innovation. Investigating the role of top management.
• An exploration of how the Human Resource Management (HRM) function affects innovation management. A case study of a company in the United Kingdom.
• An investigational analysis to determine whether or not innovation can be controlled.
• A critical assessment of the similarities and differences between innovation and technology. Are these distinct or interdependent?
• A critical review of intrapreneurship and its application in innovation management.
• A systematic investigation into the challenges of innovation management in emerging economies.
• An investigational study to learn how innovation management is measured. Is it possible to quantify innovation management?
• Explore the antecedents for strategic innovation management.
• The difficulties associated with implementing innovation management in emerging economies.
• A novel study to determine whether organisations manage technological innovation or adopt and adapt to changes.
• Investigating the link between innovation management and business excellence.

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Finding the right innovation management dissertation topics can be hard, especially with so much research , discoveries, inventions, and theories out there. We hope the above list can help you in that regard. Best of luck!

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• Select a topic resonating with your passion and career aspirations.

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400 Trending Business Management Research Topics in 2024

Home Blog Business Management 400 Trending Business Management Research Topics in 2024

Business management is crucial for competitiveness and profitability in today's fast-paced world. It involves understanding business structure, finance, marketing, and strategy. Pursuing a postgraduate course, like PGDM, often requires a well-researched paper to launch one's career. The main challenge is selecting a relevant, trending research topic. To assist, here are ten current business management research topics for 2024, focusing on technological advancements and innovative leadership strategies. Enrolling in Business Management training courses can further enhance your skills and knowledge, propelling your career to new heights. Let's explore these cutting-edge topics together for career growth.

Business Management Research Topics [Based on Different Industries]

A. business management research topics for business administration.

• Data analytics’ role in company performance and decision-making.
• Revolution of firm operations and strategy due to artificial intelligence.
• How sustainable business practices affect a company’s financial performance.
• Blockchain technology’s role in business.
• Impact of fintech on traditional financial institutions.
• How digital transformation affects organizational culture.
• Consequences of social media marketing for customer engagement.
• Impact of the gig economy on the traditional employment model.
• Abuse experienced by women in the workplace.
• Effects of the COVID-19 pandemic on global supply chain management.
• Impact of agile methodologies on business management.
• The role of emotional intelligence in business leadership.
• Outsourcing and its effects on business efficiency.
• Implementing corporate governance for better decision-making.
• The influence of consumer behavior on marketing strategies.
• E-commerce trends and their impact on retail businesses.
• Strategies for managing business risks and uncertainties.
• Ethical considerations in business strategy formulation.
• Role of business analytics in strategic planning.
• Organizational resilience in times of economic downturns.
• Corporate philanthropy and its impact on business reputation.
• Change management strategies for business growth.
• Impact of employee engagement on organizational performance.
• Role of innovation hubs in business development.
• The influence of global trade policies on local businesses.
• Business model innovation in the digital age.
• Customer relationship management (CRM) systems and their impact.
• The role of leadership development programs in businesses.
• Strategic alliances and partnerships in business growth.
• The impact of business process reengineering on performance.
• The effectiveness of telecommuting in business operations.
• Business continuity planning in disaster management.
• The impact of organizational structure on business efficiency.
• The role of corporate governance in fraud prevention.
• The influence of market segmentation on business strategies.
• The role of strategic management in business growth.
• The impact of regulatory changes on business operations.
• The role of knowledge management in business success.
• The impact of employee training and development on performance.
• Strategies for improving business process efficiency.
• The role of innovation in competitive advantage.
• The impact of globalization on small businesses.
• The role of social responsibility in business ethics.
• Strategies for enhancing customer loyalty.
• The impact of digital marketing on business growth.
• The role of strategic planning in organizational success.
• The influence of leadership styles on business outcomes.
• Strategies for managing business transformation.
• The impact of technological advancements on business operations.
• The role of corporate social responsibility in branding.
• The effectiveness of business incubators in start-up success.
• The role of organizational culture in business performance.
• The impact of financial management on business sustainability.
• The influence of business intelligence on decision-making.
• Strategies for improving customer satisfaction.

B. Business Management Research Topics for Accounting and Finance

• Asset pricing and financial markets
• Business history
• Corporate finance
• Corporate governance
• Credit management
• Financial accounting and auditing
• Organizations: ownership, governance and performance
• SME finance
• Sustainable finance and ESG
• Venture capital and private equity
• Banking and financial intermediation
• Behavioral finance
• The effect of digital currencies on global finance.
• Forensic accounting and fraud detection.
• Impact of financial regulations on banking operations.
• Corporate financial planning and risk management.
• Trends in international financial reporting standards.
• The role of auditing in corporate governance.
• Financial forecasting techniques in business planning.
• The impact of economic crises on financial markets.
• Mergers and acquisitions: Financial implications and outcomes.
• The role of financial technology in modern banking.
• Sustainable investment strategies and their impact.
• Corporate social responsibility and financial performance.
• Financial literacy and its importance for small businesses.
• The role of credit rating agencies in financial markets.
• Comparative analysis of different investment portfolios.
• The impact of taxation policies on business growth.
• Financial management practices in non-profit organizations.
• Trends in global investment and capital flows.
• The role of financial markets in economic development.
• Ethical issues in financial reporting.
• Financial risk management in multinational corporations.
• The role of financial intermediaries in economic growth.
• The impact of financial innovations on market stability.
• Financial distress and corporate restructuring.
• The role of hedge funds in financial markets.
• The influence of monetary policy on financial markets.
• Behavioral finance and investor psychology.
• The impact of interest rates on investment decisions.
• Corporate governance and shareholder value.
• The role of venture capital in entrepreneurial success.
• Financial market efficiency and anomalies.
• The influence of financial globalization on local markets.
• Financial inclusion and its impact on economic development.
• The role of institutional investors in corporate governance.
• The impact of fiscal policy on financial markets.
• Financial market integration and economic growth.
• The role of financial regulation in preventing crises.
• The influence of economic indicators on financial markets.
• Financial planning for retirement and its importance.
• The role of microfinance in poverty alleviation.
• Financial implications of environmental sustainability.
• The impact of demographic changes on financial markets.
• The role of corporate finance in strategic decision-making.
• Financial analysis and valuation of companies.
• The influence of globalization on financial reporting standards.

C. Business Management Research Topics for Economics

• Environment, infrastructure, innovation and the circular economy
• Work, labour and organisation
• Financialisation and globalisation
• Development and wellbeing
• The macro economy and macroeconomic policy
• The impact of trade wars on global economies.
• Economic policies and their effect on unemployment rates.
• Economic implications of climate change policies.
• The future of globalization in the post-pandemic world.
• Behavioral economics and consumer decision-making.
• Economic growth and income inequality.
• The role of government subsidies in economic development.
• Economic effects of demographic changes.
• Digital economy and its impact on traditional industries.
• The relationship between inflation and interest rates.
• The impact of economic sanctions on global trade.
• The economics of renewable energy sources.
• Economic policies for sustainable development.
• The role of entrepreneurship in economic growth.
• Economic impacts of technological advancements.
• Comparative analysis of economic systems.
• The effect of financial crises on emerging markets.
• Economic policies for managing public debt.
• The impact of immigration on labor markets.
• The role of international trade in economic development.
• The impact of monetary policy on economic stability.
• The influence of fiscal policy on economic growth.
• Economic implications of global health crises.
• The role of education in economic development.
• The impact of urbanization on economic growth.
• Economic policies for reducing income inequality.
• The influence of political stability on economic development.
• The role of innovation in economic growth.
• Economic effects of environmental regulations.
• The impact of global economic integration on local economies.
• Economic policies for promoting entrepreneurship.
• The influence of cultural factors on economic behavior.
• The impact of technological advancements on labor markets.
• Economic implications of international trade agreements.
• The role of government intervention in market economies.
• The impact of population growth on economic development.
• Economic policies for managing inflation.
• The influence of global economic trends on local economies.
• The impact of economic crises on poverty levels.
• The role of social welfare programs in economic development.
• Economic implications of digital currencies.
• The influence of economic policies on business cycles.
• The impact of economic inequality on social stability.

D. Business Management Research  Topics for International Business

• International business policy, SDGs and “grand challenges”
• International business, migration and society
• Global health and international business
• Cross-cultural management, diversity and inclusion
• The theory of the multinational enterprise (MNE)
• The governance of global value chains (GVCs)
• Emerging market multinational enterprises (EMNEs)
• The impact of political instability on international business.
• Strategies for managing cultural differences in global teams.
• The role of international trade agreements in business expansion.
• Global business strategies in emerging markets.
• International marketing challenges and opportunities.
• The impact of Brexit on European businesses.
• Global supply chain management best practices.
• The role of global business networks in innovation.
• Cross-border mergers and acquisitions: Challenges and strategies.
• The influence of global economic trends on business strategy.
• International business ethics and legal considerations.
• The impact of digital globalization on traditional business models.
• Strategies for entering new international markets.
• The role of global leadership in multinational corporations.
• International business communication challenges.
• The impact of global crises on international business operations.
• Managing global talent and human resources.
• The role of expatriates in international business.
• Global financial management practices.
• The impact of cultural intelligence on international business success.
• Strategies for managing international business risks.
• The role of international joint ventures in business growth.
• The influence of global consumer behavior on marketing strategies.
• The impact of international regulatory changes on business operations.
• Strategies for managing cross-cultural negotiations.
• The role of global logistics in supply chain management.
• The influence of international economic policies on business strategy.
• The impact of global technological advancements on business operations.
• Strategies for managing international business partnerships.
• The role of international business in economic development.
• The impact of global trade policies on business competitiveness.
• The influence of international market trends on business strategy.
• Strategies for managing international business expansion.
• The role of global innovation hubs in business development.
• The impact of cultural differences on international business negotiations.
• The influence of global financial markets on business operations.
• Strategies for managing international business compliance.
• The role of international business in promoting sustainability.
• The impact of global economic integration on business strategy.
• The influence of cultural diversity on international business success.
• Strategies for managing international business innovation.
• The role of global entrepreneurship in business growth.
• The impact of international trade disputes on business operations.
• The influence of global economic shifts on business strategy.
• Strategies for managing international business risks and uncertainties.

E. Business Management Project Topics for Management 

• Organizational strategy
• Global supply chains
• Leadership and performance
• Technology and innovation
• Digital transformation
• Sustainability
• Information management and information systems
• Learning and change
• Human information processing
• Decision making
• Strategies for managing remote teams.
• The role of leadership in fostering innovation.
• Performance management systems in modern businesses.
• Conflict management and resolution strategies.
• The impact of organizational culture on employee performance.
• Strategic human resource management practices.
• The role of technology in transforming management practices.
• Change management in dynamic business environments.
• Effective communication strategies in management.
• The impact of leadership styles on organizational change.
• Crisis management and business continuity planning.
• Employee motivation techniques in diverse workforces.
• The role of mentoring in leadership development.
• Strategic planning in uncertain business environments.
• The influence of corporate culture on business success.
• Managing innovation in established companies.
• The impact of globalization on management practices.
• Decision-making processes in business management.
• Strategies for enhancing employee productivity.
• The role of ethics in business management.
• Managing diversity and inclusion in the workplace.
• The impact of emotional intelligence on leadership effectiveness.
• Strategies for managing organizational change.
• The role of corporate governance in management practices.
• Managing cross-functional teams for business success.
• The influence of digital transformation on management practices.
• Strategies for improving employee engagement and retention.
• The role of strategic alliances in business growth.
• Managing work-life balance in modern organizations.
• The impact of leadership development programs on business performance.
• Strategies for fostering a culture of continuous improvement.
• The role of management consulting in business success.
• Managing organizational conflicts and their resolution.
• The influence of corporate social responsibility on management practices.
• Strategies for managing business process reengineering.
• The role of technology in enhancing management practices.
• Managing employee performance through effective feedback.
• The impact of leadership styles on team dynamics.
• Strategies for improving organizational communication.
• The role of strategic management in business success.
• Managing organizational growth and scalability.
• The influence of corporate ethics on management decisions.
• Strategies for managing business transformation and change.
• The role of human resource management in organizational development.
• Managing innovation and creativity in the workplace.

F. Project Topics for Marketing

• Corporate responsibility and sustainability
• Green marketing and advertising
• International marketing
• Cross cultural buyer-seller relationships
• Consumer buying behaviour
• Analysis of consumer heterogeneous preferences and discrete choice analysis
• Retailing and store choice analysis
• Branding and brand equity
• Formulating and implementing sustainability marketing strategies: Bridging the gap
• Marketing strategy making
• Emergent marketing strategy and decision making in marketing organizations
• Export marketing strategy and performance
• Sustainable strategies of multinational corporations
• Standardizations/adaptation of international service offerings
• International marketing process standardization/adaptation
• Strategies for leveraging user-generated content in marketing campaigns.
• The impact of augmented reality on consumer purchasing decisions.
• Marketing strategies for virtual reality products.
• The influence of personalization on consumer loyalty.
• The effectiveness of loyalty programs in retaining customers.
• The role of neuromarketing in understanding consumer behavior.
• Strategies for marketing to Generation Z.
• The impact of voice search on digital marketing strategies.
• The influence of podcast advertising on brand awareness.
• Marketing strategies for crowdfunding campaigns.
• The role of gamification in enhancing customer engagement.
• The impact of blockchain technology on marketing practices.
• The effectiveness of omnichannel marketing strategies.
• The influence of artificial intelligence on customer service.
• Marketing strategies for non-profit organizations.
• The impact of eco-labeling on consumer purchasing behavior.
• The role of data privacy regulations on digital marketing.
• The influence of interactive content on consumer engagement.
• Marketing strategies for subscription box services.
• The impact of influencer partnerships on brand reputation.
• The effectiveness of cross-promotion in increasing sales.
• The role of predictive analytics in marketing strategy.
• The influence of social commerce on consumer behavior.
• Marketing strategies for pop-up shops and temporary retail spaces.
• The impact of mobile payment systems on consumer spending.
• The role of virtual influencers in marketing campaigns.
• The effectiveness of geotargeting in local marketing.
• The influence of ethical branding on consumer trust.
• Marketing strategies for cause-related marketing campaigns.
• The impact of social media challenges on brand engagement.
• The role of experiential marketing in building brand loyalty.
• The influence of mobile gaming on advertising effectiveness.
• The effectiveness of remarketing campaigns in conversion rates.
• The impact of chatbots on customer experience in e-commerce.
• The role of video marketing in enhancing brand storytelling.
• Marketing strategies for health and wellness products.
• The influence of social proof on consumer purchasing decisions.
• The effectiveness of SMS marketing in reaching target audiences.
• The impact of subscription models on customer retention.
• The role of interactive advertising in consumer engagement.
• Marketing strategies for sustainable fashion brands.
• The influence of visual content on social media engagement.
• The effectiveness of email segmentation in increasing open rates.
• The impact of digital wallets on consumer behavior.
• The role of affiliate marketing in driving sales.

G. Business Management Research Topics for Employment Relations

• Labour mobility, migration and citizenship
• Markets, flexibilization and social protection
• Voice, representation and social movement
• Digitalization, automation, platformisation, and the future of work
• Between professions and precarity: the new world of work
• Changing structures of governance and organisation
• Employment, skills and occupations
• The impact of flexible working arrangements on employee productivity.
• Strategies for managing employee relations in remote work environments.
• The role of employee resource groups in promoting diversity and inclusion.
• The impact of gig economy trends on traditional employment relations.
• Strategies for handling workplace harassment and discrimination.
• The role of mental health initiatives in employee well-being.
• The impact of automation on employment relations in manufacturing.
• Strategies for managing employee grievances and disputes.
• The role of labor unions in the modern workforce.
• The impact of cultural diversity on employee relations.
• Strategies for fostering a positive organizational culture.
• The role of employee feedback in improving workplace policies.
• The impact of generational differences on employee relations.
• Strategies for enhancing employee participation in decision-making.
• The role of work-life balance in employee satisfaction.
• The impact of telecommuting on team dynamics.
• Strategies for managing employee turnover in high-stress industries.
• The role of employee recognition programs in motivation.
• The impact of workplace wellness programs on employee productivity.
• Strategies for improving communication between management and employees.
• The role of training and development in employee engagement.
• The impact of job security on employee morale.
• Strategies for managing conflict in multicultural teams.
• The role of leadership styles in shaping employee relations.
• The impact of economic downturns on employment practices.
• Strategies for addressing employee burnout and fatigue.
• The role of corporate social responsibility in employee relations.
• The impact of remote work on employee collaboration.
• Strategies for enhancing employee loyalty and retention.
• The role of digital tools in managing employee relations.
• The impact of legal regulations on employment practices.
• Strategies for fostering innovation through employee engagement.
• The role of mentorship programs in career development.
• The impact of employee empowerment on organizational success.
• Strategies for managing employee relations in mergers and acquisitions.
• The role of conflict resolution training in improving workplace harmony.
• The impact of social media policies on employee behavior.
• Strategies for promoting ethical behavior in the workplace.
• The role of transparency in building employee trust.
• The impact of employee surveys on organizational improvement.
• Strategies for managing generational conflicts in the workplace.
• The role of flexible benefits in employee satisfaction.
• The impact of workplace design on employee productivity.
• Strategies for addressing the skills gap in the workforce.
• The role of employee advocacy in shaping company policies.

H. Project Topics for Business ethics topics

• Maintaining Compliance with Independent Contractors
• The perception of tax evasion ethics
• Consumer Rights to Privacy and Confidentiality
• The role of ethical leadership in fostering corporate integrity.
• Strategies for promoting transparency in business operations.
• The impact of corporate governance on ethical business practices.
• The role of ethics training programs in shaping employee behavior.
• The influence of corporate culture on ethical decision-making.
• Strategies for managing ethical dilemmas in the workplace.
• The impact of corporate social responsibility on business reputation.
• The role of whistleblowing policies in promoting ethical conduct.
• The influence of stakeholder engagement on ethical business practices.
• Strategies for ensuring compliance with ethical standards.
• The impact of ethical branding on consumer trust.
• The role of corporate ethics committees in governance.
• The influence of regulatory frameworks on business ethics.
• Strategies for fostering an ethical organizational culture.
• The impact of ethical supply chain management on brand reputation.
• The role of sustainability initiatives in ethical business practices.
• The influence of ethical marketing on consumer behavior.
• Strategies for addressing ethical issues in digital marketing.
• The impact of business ethics on corporate financial performance.
• The role of ethical considerations in mergers and acquisitions.
• The influence of corporate ethics on employee loyalty.
• Strategies for managing conflicts of interest in business.
• The impact of ethical leadership on organizational success.
• The role of ethics in strategic business planning.
• The influence of ethical practices on investor relations.
• Strategies for ensuring ethical compliance in global operations.
• The impact of ethics on corporate governance frameworks.
• The role of ethical innovation in business sustainability.
• The influence of corporate social responsibility on stakeholder trust.
• Strategies for managing ethical risks in business.
• The impact of ethical leadership on employee engagement.
• The role of ethics in business continuity planning.
• The influence of ethical considerations on product development.
• Strategies for promoting ethical behavior in customer service.
• The impact of corporate ethics on competitive advantage.
• The role of ethics in managing corporate social media presence.
• The influence of ethical practices on supply chain resilience.
• Strategies for fostering ethical behavior in remote teams.
• The impact of business ethics on brand equity.
• The role of ethical considerations in crisis management.
• The influence of corporate governance on ethical leadership.
• Strategies for integrating ethics into business strategy.
• The impact of ethical consumerism on marketing strategies.
• The role of ethical decision-making in corporate success.
• The influence of corporate ethics on organizational change.

What are Some Good Business Management Research Topics in 2024?

• Conflict Management in a Work Team
• The Role of Women in Business Management
• Issues that Affect the Management of Business Startups
• Consequences of Excessive Work in Business
• Why You Should Start a New Business After One Fails
• Importance of Inter-organizational Leadership and Networks
• How to Manage Organizational Crisis in Business
• Product and Service Development in a Strategic Alliance
• Innovation and Network Markets as a Business Strategy
• Social Enterprise and Entrepreneurship

Every aspect of business, like strategy, finance, operations, and management, is essential. So, it’s hard to say that a particular area of research is more significant. Choosing the best research topic in business management within your area of interest or specialization is one way to decide what your business management research project will be about. It is also a learning process and an opportunity to showcase your in-depth knowledge. 

But if you want to explore other options, write about trending issues and events in the business world, and learn something new, here’s a list of 10 research proposal topics in business management that can help you create an engaging and practical project. You can also take a CCBA training certification to learn more in-depth about business management. 

1. Conflict Management in a Work Team

With businesses going global, team management has escalated from merely managing people to guiding, mentoring and resolving conflicts among individuals. Teams with multicultural members from different departments are fertile ground for conflicts. If you are looking for international business management research topics, conflict management in work teams is an excellent option. 

This research will give you an insight into the various causes of conflict and different techniques and methods of conflict resolution within global multi-lingual and multi-cultural teams enabling you to lead teams successfully and keep disruptions minimal. Better teams translate to better productivity and, eventually, revenue. On the personal front, it means career growth, leadership roles, and higher pay scales for you.

2. The Role of Women in Business Management

In contemporary society, women have made notable strides in shattering patriarchal norms and embracing diverse opportunities and career paths, thereby demonstrating their strength and autonomy. While women encounter challenges in assuming leadership roles, often stemming from prevailing cultural attitudes, their presence in business management positions is more prevalent than commonly perceived. This prompts inquiry into the factors that contribute to the exceptional success of certain women in managerial positions and the unique value they bring to such roles. Exploring this subject through qualitative research could yield insightful findings regarding women's impact on business management.

3. Issues that Affect the Management of Business Startups

The COVID-19 pandemic drove everyone online and created a new digital startup ecosystem. However, while it may be easy to set up a digital business , sustenance, scaling, and growth are some of the challenges that follow. If you are entrepreneurial, your research title about business management should read something like “Challenges in the startup ecosystem.” Such research covers issues that affect the management of business startups. It covers the various factors that lead to success and the pitfalls and obstacles on the growth trajectory. It covers effective strategies to mitigate or work around challenges, and this is where you can get creative. Limiting your research to startups is okay, but you can also cover significant ground across other business models.

4. Consequences of Excessive Work in Business

Work-life balance is the buzzword in today’s business environment. If you choose to write your thesis on the impact of excessive work in business, it could well escalate to international levels as everyone talks about employee well-being, from corporates to SMEs and top management to HR. 

The single most significant reason behind this is the instances of early burnout seen in the past. Secondly, globalization is another cause for concern since people are often required to work multiple shifts. Lastly, the recent trend of post-Covid layoffs that have driven the need for side hustle makes it even more necessary to keep track of how hectic business operations are. 

5. Why You Should Start a New Business After One Fails

Failure is the steppingstone to success. Or so the saying goes. The recent outcrop of start-ups has proven this to be true. If one venture fails, do not give up. Learn from the experience and start again. Not only is that the mantra of the current generation, but it is also among the trending quantitative research topics in business management. 

The main objective and outcome of this business management research topic are to explore lessons learned from failures, the advantages of starting afresh, and the strategies for overcoming the fear of failure.

6. Importance of Inter-organizational Leadership and Networks

This research focuses on managing global networks in leadership roles. It is among the hot favorite research topics for business management students considering how businesses are going global. If you are an aspiring global entrepreneur or leader, you would want to know more about local and global inter-organizational networks, how things work, how people communicate, etc. Researching inter-organizational leadership and networks can provide insights into businesses' challenges and opportunities when building and maintaining relationships. Managing these relationships is another challenging part of the process, and that is what you will learn through this research. 

7. How to Manage Organizational Crisis in Business

Not only is crisis management a critical leadership skill, but today's turbulent business environment is fertile ground for an organizational crisis. Globalization, digitization, and the startup ecosystem have disrupted the environment. Barring corporates, a crisis can strike any business at any time and bailing out of that crisis is the responsibility of the business leadership. Managing an organizational crisis in business is a popular business management research paper topic, especially among MBA students, PGDM, and aspiring entrepreneurs.

8. Product and Service Development in a Strategic Alliance

When it comes to research paper topics related to business management, one area worth exploring is product bundling in a strategic alliance. The ICICI credit card offered to online customers of Amazon India is a classic example.

Development of such strategic products or services requires in-depth product knowledge, knowledge of finance, and of course, a strategic mindset. If you have a strategic mindset and interest in product management, this is one of your best business management research project topics.

9. Innovation and Network Markets as a Business Strategy

Innovation and Network marketing is an emerging and strategic business model for startups. When entrepreneurs need more resources to raise seed or venture capital for their businesses, they elect to market their products through networking. Social Media platforms like Facebook offer substantial networking opportunities. Choose this probe as your quantitative research topic for business management if you have entrepreneurial aspirations to understand every aspect of this business model and strategy in depth.

10. Social Enterprise and Entrepreneurship

Social enterprise is any business having a social objective and undertaking activities in the public interest. Writing a research paper on social enterprises and entrepreneurship will lead you to explore opportunities that can bring an innovative change in society and hold business potential. One thing to remember if you want to explore social enterprise and entrepreneurship as one of several business management research titles is that the organizational goal is primarily social impact rather than revenue generation. This research will make you more open to an inclusive idea of growth by bringing you closer to social causes, marginalized communities, and people thriving in them.

How to Find Business Management Research Topics?

This is just our list of hot and trending business research topics. To help you discover more research project topics on business management, here are some quick-follow tips:

1. Identify Your Interests

Start by making a list of the various aspects of business management that interest you. Rate them on a scale of 1-10, with one being the least liked and 10 being your most favorite. You can also narrow down your topic to a specific niche while seeking sample research topics in business management.

2. Read Academic Journals

You might want to conduct preliminary research on a few of the topics you shortlisted to see if something interesting jumps out at you. One way to do this is by reading academic journals related to your selected area of business management. Findings by earlier researchers may trigger innovative thought.

3. Attend Events

Attending business events like seminars, conferences, and webinars on topics of interest can help you narrow down your list of research topics related to business management. It is also an excellent way to gather knowledge about your area of interest as well as to grow your network.

4. Consult your supervisor or Mentor

Your thesis supervisor is a valuable resource when searching for the best research topics in business management. They can guide you about relevant research areas and help you identify potential research questions apart from guiding you on research presentation.

5. Use Online Resources

Many research journals online allow students access to research papers either free of cost or in exchange for a small fee. Explore this resource and sign up for a few that are relevant to your area of interest.

Business Management Research: Types and Methodologies

Business research, like any other research, involves the collection of data and information about your chosen topic, analysis of the information and data gathered, and exploring new possibilities in the field. 

Broadly speaking, research may be of two types – Quantitative or Qualitative. Quantitative research, also called empirical research, involves the collection of data from sample groups to answer a question. Qualitative research has more to do with the impact of certain phenomena. Such research is usually an extension of previously researched topics. 

The table below highlights the difference between quantitative research topics in business management and qualitative research about business management. 

The world of business management is constantly evolving and finding the right business management research topic might seem like a Herculean task. But, with a little thought, planning, and some research, it is not that hard. So, the 90 topics we've explored in this blog represent some of the most significant areas of development in the field of business management today, from the rise of women as business leaders and to the importance of innovation and network markets. As we move into 2024 and beyond, it's clear that these topics will only continue to grow in importance, shaping the way we do business and interact with the world around us. By staying informed and engaged with the latest research and trends, you can position yourself as a thought leader and innovator in the world of business management. 

Also, our pointers on how to discover a business management research topic will help you identify a list of research topics in business management for your thesis. You can then narrow it down to your area of talent or interest. If you still want to know more, you can enroll in our KnowledgeHut's Business Management training , where you’ll learn more about the different aspects of business. 

Frequently Asked Questions (FAQs)

An example of a business research study could be investigating the impact of social media marketing on consumer buying behavior or examining the effectiveness of a new leadership development program in a company.

The 4 types of business research include:

• Exploratory
• Descriptive

Business management is wide in scope, and there is a spectrum of research topics to choose from. The most prominent areas of business include finance, operations, procurement, marketing, and HR. Within each of these, you’ll find several macro and micro niches to explore.

Mansoor Mohammed

Mansoor Mohammed is a dynamic and energetic Enterprise Agile Coach, P3M & PMO Consultant, Trainer, Mentor, and Practitioner with over 20 years of experience in Strategy Execution and Business Agility. With a background in Avionics, Financial Services, Banking, Telecommunications, Retail, and Digital, Mansoor has led global infrastructure and software development teams, launched innovative products, and enabled Organizational Change Management. As a results-driven leader, he excels in collaborating, adapting, and driving partnerships with stakeholders at all levels. With expertise in Change Management, Transformation, Lean, Agile, and Organizational Design, Mansoor is passionate about aligning strategic goals and delivering creative solutions for successful business outcomes. Connect with him to explore change, Agile Governance, implementation delivery, and the future of work.

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• Published: 26 August 2024

Understanding the influence of business innovation context on intentions of enrolment in master education of STEM students: a multi-level choice model

• Ana-Maria Zamfir 1 ,
• Adriana AnaMaria Davidescu 1 , 2 &
• Cristina Mocanu 1  

Humanities and Social Sciences Communications volume  11 , Article number:  1087 ( 2024 ) Cite this article

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This article studies educational decisions, focusing on intentions of enrolment in master’s education of STEM bachelor students. Integrating human capital theory with concepts of cultural and social capital, we propose a two-level model for the choice of pursuing master’s degrees. First level (individual) includes factors covering individual habitus and organisational habitus (higher education institutions of bachelor students), while the second level (local) reflects the local business innovation environment. The proposed model was empirically tested on data collected from a sample of STEM and non-STEM bachelor students enroled in 10 public universities located in Romania. The results show that STEM students display a higher propensity to enrol in master's education, and the gap between STEM and non-STEM majors varies across regions. We find that educational decisions related to master’s degrees are shaped by local circumstances reflecting the business innovation intensity as more innovative business contexts are less conducive for enrolment of students in master programmes. In addition, the findings of the study show that local circumstances are not independent of the field of study when shaping students’ educational choices, highlighting the complex way in which individual and local levels factors interplay and shape educational decisions. STEM students’ propensity to enrol in master’s degrees is more influenced by the innovative business environment than other students. This study has implications for higher education policy and practice aiming to support longer educational careers in STEM.

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Introduction.

While there is a rich literature on the decision to enrol in higher education, lesser attention has been given to the transition from bachelor’s to master’s programmes (Mullen et al., 2003 ; English and Umbach, 2016 ), including in STEM (science, technology, engineering, and math) education. This paper contributes to the study of educational decisions, analysing the intentions of enrolment in master’s education of STEM bachelor students. The study is focused on the students’ decision of pursuing a master-level degree right after graduating bachelor’s studies. Master’s degrees offer graduates of undergraduate education the possibility to acquire deeper or additional skills and knowledge. Master-level programmes engage students in more advanced research methods and independent study while focusing on a narrower specialisation. It is believed that attaining master’s degrees brings significant individual and social benefits (English and Umbach, 2016 ) and supports scientific and technological advancement (Committee on Enhancing the Master’s degree in the Natural Sciences, 2008 ). Master’s degree attainment is consistently rising and understanding factors that shape the transition from bachelor’s to master’s is becoming increasingly important (English and Umbach, 2016 ). A better knowledge of the mechanisms behind this process is of interest to education researchers and practitioners.

According to Hossler and Gallagher’ ( 1987 ) 3-phase college-going model, the first stage of the educational choice is the predisposition phase in which students decide on pursuing or not a higher-level education programme. Following theoretical models developed for undergraduate enrolment, this paper is focused on the factors influencing the predisposition to pursue master’s degrees among final-year bachelor students in STEM and non-STEM fields. Early studies on graduate education relied on the idea of persistence or retention of students in the education system (Tinto, 1975 ; Pascarella and Terenzini, 1980 ). Developing theoretical models based on the literature on undergraduate college choice, more recent works understand students’ process of choosing to pursue a master’s degree as a new and distinct choice among possible post-graduation alternative options (English and Umbach, 2016 ).

Education decisions are shaped by a dense mix of mechanisms, including what individuals can do, what they want and conditions that shape individual preferences and intentions (Gambetta, 1987 ). Such mechanisms embed a wide range of individual, institutional and economic factors (Table 1 ).

Previous studies found significant heterogeneity among master’s degree students (O’Donnell et al., 2009 ; Jung and Li, 2021 ). On the one hand, demographic and background characteristics such as gender, race and age of the students, as well as their area of residence, influence their enrolment in master’s degrees (Perna, 2004 ; Schapiro et al., 1991 ; Xu, 2014 ; Allison and Ralston, 2018 ; Jung and Lee, 2019 ). For instance, the underrepresentation of women, as well as racial and ethnic minorities in STEM education has been analysed by numerous studies (Espinosa, 2011 ; Batsheva and Boards, 2019 ; McKinney et al., 2021 ). On the other hand, education decisions on whether or not to continue education are influenced by the expectations regarding academic success. Individuals with higher academic performances tend to take greater risks in this matter and enrol in higher levels of education (Latiesa, 1989 ; Mullen et al., 2003 ; Zamfir et al., 2021 ). According to Bourdieu ( 1977 ) theory on the role of cultural and social capital in education, parents’ education influences educational transitions as students with parents having a higher level of education are more likely to graduate at a higher education level (Jiménez and Salas-Velasco, 2000 ; Mullen et al., 2003 ; Zamfir et al., 2021 ). Family income is another factor of influence for educational careers. Students with better economic circumstances are more likely to enrol in higher-level courses (González and Dávila, 1998 ; DeBacker and Routon, 2021 ), including master’s degrees (Schapiro et al., 1991 ). Studies exploring the influence of the level of educational debt on decisions to attend graduate degrees have found mixed results (Schapiro et al., 1991 ; Weiler, 1994 ).

Other factors that shape educational choices are related to educational institutions. Quality and other characteristics of the academic environment influence educational choices and decisions in higher education (Kallio, 1995 ; Zhang, 2005 ; Zamfir et al., 2021 ). Educational careers are also shaped by the satisfaction of students with education. In general, the satisfaction of students with higher education is determined both by the perceived institutional performance and the perceived outcomes of institutional performance (Hartman and Schmidt, 1995 ). Moreover, it has been found that the type of university influences the transition from bachelor’s to master’s as students from research universities are more likely to pursue master’s degrees than those from teaching-oriented universities (Jung and Lee, 2019 ).

Previous research indicates a significant relationship between the field of study and the decision to pursue a master's education. It has been found that students from the arts stream are less predisposed to enrol in postgraduate studies compared to science stream students (Kong et al., 2015 ; Jung and Lee, 2019 ; Zamfir et al., 2021 ). Considering this difference between STEM and non-STEM students, it would be very important to better understand the variation between the two fields of study.

We know that investing in education fosters the accumulation of knowledge and skills, allowing individuals to have access to better job prospects and higher wages (Becker, 1962 , 1990 ; Thomas and Perna, 2004 ; Paulsen and Toutkoushian, 2008 ). According to the economics of education, investing in human capital is motivated by expected economic returns (Becker, 1962 , 1990 ; Thomas and Perna, 2004 ; Paulsen and Toutkoushian, 2008 ; Menon et al., 2017 ). Considering the human capital theory, the demand for higher education has been studied in relation to labour market factors such as the level of unemployment (Becker, 1964 ; Ashenfelter and Ham, 1979 ; Jiménez and Salas-Velasco, 2000 ) and expected earnings upon completion of a degree (Kodde, 1986 ). Expectations regarding monetary and non-monetary returns of education are relevant for educational choices (Altonji et al., 2015 ). Increased expected earnings have been found to positively influence the enrolment demand, particularly for post-graduate education (Handa and Skolnik, 1975 ). Jiménez and Salas-Velasco ( 2000 ) propose a model of factors determining educational choice, which includes objective and subjective determinants related to the current situation of the students, but also to the future, such as employment prospects and expected income. Additionally, students’ participation in the labour market influences their enrolment in master’s degrees (Zamfir et al., 2021 ).

Moreover, differences in pursuing master’s degrees in relation to students’ majors are mainly determined by differences in the expected benefits (English and Umbach, 2016 ; Zamfir et al., 2021 ). In general, STEM degrees bring higher returns (Burgess, 2016 ), encouraging individuals to pursue more education in related fields.

Returns to education are influenced by local conditions of the economic environment. Our previous results showed that local labour markets characterised by higher employment in science and technology increase the probability of bachelor students to enrol in master education. In addition, more dynamic local contexts with respect to earnings level, business demography, and business innovation discourage students from prolonging their education career, probably due to higher forgone earnings (Zamfir et al., 2021 ). From this point of view, it is possible that differences between the intentions of STEM and non-STEM students vary in relation to the local context.

In addition, the theory of skilled-biased technological change (Machin and Van Reenan, 1998 ) highlights the rising demand for higher skills in more technologically advanced contexts. Previous studies linked various proxies of technological change and innovation with a higher demand for skilled workers (Toner, 2011 ). Evidence suggests a virtuous circle between the education and skills of the workforce and business innovation capacity, as enterprises with a higher proportion of more skilled workers have a higher probability of introducing new products (Toner, 2011 ). From this point of view, one could expect contextual factors reflecting the business innovation environment to influence returns to education for STEM and non-STEM students in a different way. Thus, we draw on human capital theory while taking into consideration the business innovation environment for exploring the factors shaping the decision of enrolment in master’s degrees of STEM vs. non-STEM students. Detecting the factors that influence different educational choices of STEM and non-STEM students is useful for identifying effective measures for increasing participation in STEM master education. Promoting STEM education is considered a key element for driving innovation and economic growth worldwide.

Research questions and objective

Integrating human capital theory with concepts of cultural and social capital, Perna ( 2006 ) developed a model of college choice based on four layers: individual habitus, community and school context (organisational habitus), higher education context and socio-economic and policy context. Studying transition from undergraduate to graduate education, English and Umbach ( 2016 ) revise the approach of Perna ( 2006 ) and propose a two layers conceptual model integrating individual and institutional factors that influence students’ decision to pursue graduate education. The individual layer (habitus) includes demographic characteristics, cultural and social capital, academic achievement, supply of resources and expected benefits. The second layer covers features of the undergraduate institution context.

Building on the previous work of Perna ( 2006 ) and English and Umbach ( 2016 ) regarding the multiple layers of factors that influence educational choices, we take into account individual characteristics, as well as features of institutional and business innovation contexts that shape educational choices. Therefore, the objective of this paper is to propose and test a two-level model for the choice of pursuing a master’s degree that integrates individual and institutional factors with circumstances in the local business innovation environment. First level (individual) includes individual habitus and organisational habitus (higher education institutions of bachelor students, including enrolment in STEM vs. non-STEM fields). The second level (local) reflects local conditions concerning the business innovation environment. The second level recognises that the choice of pursuing master’s degree is influenced by wider forces and conditions that interplay with individual factors and shape individual preferences and intentions. The conceptual model of the current study is presented in Fig. 1 .

This figure illustrates the two-level model that integrates individual and institutional factors (level 1) with circumstances related to the local business innovation environment (level 2) influencing the choice of pursuing a master’s degree.

As has been shown before (Zamfir et al., 2021 ), STEM bachelor students display a higher propensity to enrol in master’s degrees than other students. In addition, previous results indicate that a more dynamic business innovation local context discourages students to pursue graduate education. By developing the two-level model for the choice of pursuing a master’s degree, this paper is focused on addressing the following research questions:

RQ1: Do STEM vs. non-STEM majors have different effects on intentions of pursuing master education in different local contexts?

RQ2: Does and how does the business innovation context interplay with STEM vs. non-STEM majors in shaping the predisposition of enrolment in master education?

Data and methods

In order to empirically test the proposed model, we integrated data from various administrative and statistical sources for a sample of students enroled in ten public universities located in Romania (out of a total of 54 public universities). In 2019, intentions of pursuing a master’s degree in the next school year (2020/2021) were collected via a questionnaire-based survey from 502 students enroled in their final year of bachelor studies (age M  = 22.08, SD = 1.185; 273 (54.4%) men, 229 (45.6%) women) in various fields of education (medical studies, sports, military and defence have not been covered). Fields of study have been registered for each bachelor student, and two categories have been constructed: STEM and non-STEM fields. The final sample included 250 STEM students and 252 non-STEM students. For university quality, performance scores of higher education institutions have been retrieved from the national university ranking for 2019 (Guo et al., 2023 ). Also, individual and background characteristics (academic performance, parents’ education, subjective family income, gender, age, area of residence, employment status, working experience), as well as subjective expectations regarding economic benefits anticipated upon the completion of a master’s degree have been collected from students.

The second level of the indicators includes data on the economic context at local level, more specifically on the business innovation environment. Regional-level data on enterprises introducing product and/or process innovations have been retrieved from statistical sources (Romanian National Institute for Statistics). List and description of indicators and data sources are presented in the appendix.

Aiming to identify the main determinants of students’ intention in pursuing a master’s degree in the next year, we used a multilevel logistic regression analysis based on the hierarchical nature of the data (individuals from different universities that are placed in different regions), which includes the individual-level variables, and then explores whether university-level factors together with regional level indicators are significantly associated with the intention of pursuing a master programme.

In order to analyse the between-region variation while taking into account the influence of individual characteristics in the overall intention to enrol to a master programme, different types of two-level models were used. The general approach of constructing the models is presented in Fig. 2 . The first stage was to estimate a baseline random intercept model with no explanatory variables. This step is needed for establishing whether a multi-level approach is appropriate. The null or empty two-level model with only an intercept and region effects has the following form:

This figure presents the step-by-step approach of the statistical analysis, outlining different types of the estimated two-level models.

The intercept \({\beta }_{0}\) is shared by all regions, while the random effect \({u}_{0j}\) is specific to region j . The random effect is assumed to follow a normal distribution with variance \({\sigma }_{{uo}}^{2}\) . The baseline random intercept model with no explanatory variables was estimated using maximum likelihood estimation using adaptive quadrature. The log odds are the logarithm of the odds (i.e. the ratio between a probability value (Phi) and its complementary).

The second stage was to develop a model with first-level variables (i.e. individual-level) in order to test the impact of individual characteristics:

β 0 is interpreted as the log-odds that y  = 1 when x  = 0 and u  = 0 and is referred to as the overall intercept in the linear relationship between the log-odds and x . If we take the exponential of β 0 , exp( β 0 ), we obtain the odds that y  = 1 for x  = 0 and u  = 0. As in the single-level model, β 1 is the effect of a 1-unit change in x on the log-odds that y  = 1, but it is now the effect of x after adjusting for (or holding constant) the group effect u . If we are holding u constant, then we are looking at the effect of x for individuals within the same group, so β 1 is usually referred to as a cluster-specific effect. Exp( β 1 ) can be interpreted as an odds ratio, comparing the odds that y  = 1 for two individuals (in the same group) with x -values spaced 1 unit apart.

While β 0 is the overall intercept in the linear relationship between the log-odds and x , the intercept for a given group j is ( β 1  +  u j ), which will be higher or lower than the overall intercept depending on whether u j is greater or less than zero. Therefore, u j is the group (random) effect, group residual, or level 2 residual. The response probabilities \({\pi }_{{ij}}\) can be expressed as follows:

At the second level, there will be added contextual factors to the model. In the third step, the logit random intercept model specification, including both individual-level explanatory variables, as well as region-level explanatory variables, is the following:

where: \({\beta }_{0}\) is the overall intercept, \({\beta }_{1}\) is the cluster-specific effect, \({\beta }_{2}\) is the contextual effect, X ij is the vector containing individual-level explanatory variables, X j is the vector containing region-level explanatory variables, and u j is the group (random) effect. The log odds are the logarithm of the odds (i.e. the ratio between a probability value (Phi) and its complementary).

Additionally, we test interaction effects exploring the possibility of the effect of one independent variable on the outcome to vary with the value of another explanatory variable. An interaction between a level 1 variable and a level 2 variable is called a ‘cross-level interaction’. Furthermore, it was worth to test if the effect of contextual regional factors on the decision of applying to a master programme depends on level 1 characteristics. Therefore, in the fourth step, we have estimated random intercept models with cross-level interactions.

In the random intercept models, the model intercept varies randomly across regions and the main assumption was that the coefficients of all explanatory variables are fixed across regions.

In the last stage, assuming that the decision of applying for a master's degree could vary across regions depending on the field of study—STEM (science, technology, engineering, math) and non-STEM, random slope models have been estimated, allowing for both the intercept and the coefficient of field of study to vary randomly across regions, also including cross-level interactions.

In a random slope model, a group-level random term u j has been included as a linear predictor of the model.

\({X}_{{ij}}\cdot {u}_{1j}\) is a new term to the model, 0 is the subscript for the intercept residual, random effects \({u}_{1j},\,{u}_{0j}\) are normally distributed with the variances \({\sigma }_{u1}^{2},\) \({\sigma }_{u0}^{2}\) and the covariance \({\sigma }_{u01}\) .

The extension from random intercepts to random slopes has introduced two new parameters to the model— \({\sigma }_{u1}^{2}\) and \({\sigma }_{u01}\) carrying out a test of the null hypothesis that both are equal to zero.

Also, regions showing an above-average positive relationship between the field of study and master enrolment intention will have \({u}_{1j}\, > \,0\) , while regions with a below-average positive (or possibly negative) relationship between the field of study and master enrolment intention will have \({u}_{1j}\, < \,0\) .

In order to test whether the effect of STEM compared with non-STEM fields varies across regions, a likelihood ratio test was applied, taking into account the difference in the log-likelihood values between the model with and without the random slope on STEM.

Empirical results and discussion

Results of the estimated models.

Concerning the predisposition phase in which students decide on pursuing a higher-level education programme, 53.6% of the total students report that they have the intention to enrol in a master's programme in the next year. Such intentions are more prevalent among STEM students (62%) than non-STEM students (45.2%). On the other hand, the Kruskal–Wallis test indicates statistically significant differences in this intention among students from different regions or universities. The empirical results indicate that students from the Bucharest region display the highest propensity to enrol in master's education.

The two-level model was used to allow for correlation between master enrolment intentions of individuals in the same region and to explore the extent of between-regions variation. The empirical results of the random intercept model with no explanatory variables revealed that the multilevel approach is suitable and estimated the log-odds of enrolment for an ‘average’ region to the value of 0.145. With a standard error of 0.086, we estimate the between-region variation of the log-odds of enrolment in a master programme at 0.094%. Also, the empirical results of the Wald test proved that there is a statistically significant variation between regions regarding the share of those applying for a master's programme. Based on the value of the between-regions variance (0.094), the variance partition coefficient (VPC) highlighted that 2.77% of the residual variation in the propensity of enrolment in a master programme is attributable to unobserved regional characteristics, indicating that almost 3% of the variance in applying to a master programme can be attributed to differences between regions. When exploring the university characteristics, the empirical results revealed the between-university variance of the log-odds of enrolment in a master programme estimated as 0.81 with a standard error of 0.50, and the Wald test pointed out a significant variation between universities in the proportion of those applying for a master programme. Based on the value of the between-university variance (0.81), the variance partition coefficient (VPC = 19.75%) indicated that almost 20% of the variance in applying to a master programme can be attributed to differences between universities. Thus, we have developed a two-step iterative procedure, building firstly a model only with individual level characteristics and then incorporating both level 1 and level 2 indicators, as well as interaction effects.

Table 2 reports the results of the random intercept models that only include the individual level variables , namely student-level predictors for model I, as well as university-level predictors for model II. The empirical results for the individual level variables pointed out the lack of significance for the association between gender, age, subjective income, expected full-time wage for a person who graduated a master degree or perceived share of unemployed with master’s degree. On the other hand, variables such as average grade, higher education of the father, seniority, or the type of working contract significantly influence the decision of applying to a master programme. Those with higher grades are significantly more inclined to apply for a master's degree, and so are students whose fathers graduated from higher education and students who work on a full-time contract. Additionally, students from rural areas and those with longer working experience have a lower propensity for enroling in master’s degrees. Perceived benefits associated with the graduation of a master's education in terms of wages and employment have no significant influence on the intention of enrolment.

Considering the variation induced by university-level factors, Model II shows that students enroled in non-STEM fields are less inclined to apply for a master's programme compared with those studying STEM disciplines, but the coefficient suffers from a lack of statistical significance at this point. Also, in the case of this model, the empirical results did not support the hypothesis that students decide to enroll in a master's program influenced by university performance.

Table 3 reports the results of the random intercept models that include the individual level variables (students and university characteristics) for model I and also region-level predictors for models II and III, together with the cross-level interaction terms. The findings of the random intercept model incorporating the individual level characteristics revealed that STEM students have a significantly higher predisposition to enrol to master education than non-STEM students. Also, the empirical findings indicate the positive influence of the university performance on the decision of students to enrol in master programmes. With respect to the individual factors introduced in the model, the results confirm that students with higher grades, those working full time and those whose fathers graduated higher education are more likely to apply for a master’s degree. On the other hand, students who have been employed for a longer period are less likely to pursue a graduate degree. The statistical significance of the above-mentioned individual variables preserved in all models. On the other hand, the intention to apply to a master’s programme remains unaffected by gender, age, residence area, subjective income, perceptions of the full-time wage of people with a master’s degree, or the percentage of unemployed people with a master’s degree.

Analysis of residual level-2 region effects (with only the individual characteristics-model I) supports the hypothesis that there are important differences among regions. North-West and Soth-West are the regions with the lowest probability of applying to a master programme (largest negative values of uj ) for which the confidence intervals do not overlap with 0, indicating that they have a significantly lower probability of enrolment than the average region. At the upper end, Bucharest-Ilfov and Centre are the regions with intervals that do not overlap with 0 with the highest response probability (largest positive values of uj), indicating a significantly higher probability of applying to a master programme compared with the region average.

Considering the regional context, model II indicates that the percentage of businesses that introduce product innovations has a detrimental effect on the choice to apply to a master programme. It appears that a more innovative corporate environment might provide alternative incentives for students making them less likely to enrol in master’s programmes.

In addition, model III analyses cross-level interactions between the field of study and the intensity of business innovation. Results show that STEM students are more impacted by the share of enterprises introducing product innovations than non-STEM students when deciding whether or not to apply to graduate school. On the other hand, the percentage of enterprises that introduce process innovations and enterprises that introduce product and process innovations exhibit no influence on the intention to pursue a master’s program.

Until now, we have found that the intention of enrolment in a master programme depends on several student, university, and regional innovation characteristics and this was achieved by allowing the models intercept to vary randomly across communities in random intercept models. We have assumed that the effects of individual characteristics are the same in each region, i.e. the coefficients of explanatory variables are fixed across regions.

In this stage, we extend the random intercept model, allowing both the intercept and the coefficient of one of the explanatory variables to vary randomly across regions, making the assumption that the probability to apply to a master programme could vary from region to region depending on STEM vs. non-STEM majors. Random slope models with both individual variables and regional level variables together with cross-level interaction have been estimated and the empirical results are presented in Table 4 .

Thus, the model of master’s programme enrolment intentions was updated to compensate for variances in STEM vs. non-STEM disparities among regions. It is assumed that the only variation in the association between the field of study and region is in the difference between STEM and non-STEM in this model, which allows for various probabilities of master enrolment for different fields of study (as in the random intercept model above). It is calculated for Model I with just level 1 individual variables that the coefficient of the field of education (the difference between STEM and non-STEM) is 0.835 +  u 1 j in the corresponding region j . STEM field has a random coefficient, which suggests that the variance between regions relies on the field of education (STEM vs. non-STEM). Master programme enrolment chances differ between STEM and non-STEM fields by 0.062 and 1.29, with the intercept variance interpreted as the between-region variation in log-odds, respectively. As a result of the negative intercept-slope covariance estimate, it may be concluded that regions with an above-average likelihood of master’s degree enrolment (intercept residual u 1 j  > 0, slope residual u 1 j < 0) are likely to have lower-than-average impact on STEM field. Based on the LR test, where the null hypothesis of no region variation in the difference between STEM and non-STEM students was tested, we may infer that the gap between the two educational fields does indeed change between regions. The difference between communities is now calculated as follows:

=0.062–0.215 \({x}_{{ij}}\)  + 1.29 \({x}_{{ij}}^{2}\) which because STEM students ( x ij ) can only take values of 0 and 1, simplifies to: 0.062 for STEM = 0 and 1.137 for STEM = 1. Therefore, between-region differences in the intention of applying to a masters' programme are greater for STEM students, while regional variation for non-STEM students is lower.

As in the case of random intercept models, STEM students have higher propensity for enroling in masters' education. Also, the intention of applying to a master's program is influenced by academic performance, the higher education of the father, work seniority, and a full-time working contract (Model I), and the significance of these variables is preserved in all models.

Adding and testing the region variables show that the share of enterprises introducing product innovations negatively impacts the decision of applying to a master programme (Model II). Thus, regions with higher shares of innovative enterprises are characterised by a lower propensity of students to enrol in masters' education. A more innovative business sector discourages Romanian students to prolong their educational careers, offering attractive incentives to enter labour market after bachelor’s degree.

Moreover, the effect of the proportion of enterprises introducing product innovations affects the decision of applying for a masters' programme more effectively for STEM students compared with non-STEM students (Model II). For an increase in the proportion of enterprises with product innovation, the effect positively depends on the field of education and the effect will be higher for STEM students. So, the influence of a more innovative business context is higher among STEM students than non-STEM students. This cross-level interaction between the major of the students and the innovation intensity from the regional level indicates why and how the differences between STEM and non-STEM students in terms of master enrolment are not similar across regions.

Discussion of the results

Choice of enrolment in master education.

This study supports recent educational choice models that include along with the insights from the human capital theory, cultural and social capital embedded in individual characteristics and background (Perna, 2006 ; English and Umbach, 2016 ). Thus, our results confirm the influence of various individual-level factors shaping the decision of prolonging the educational career. Similar to the findings of other scholars (Latiesa, 1989 ; Mullen et al., 2003 ; English and Umbach, 2016 ; Zamfir et al., 2021 ), we found that students with higher academic performances are more interested to continue their education with a master degree, suggesting that the grades’ level influences perceived academic self-efficacy and expectations regarding future academic success, encouraging or discouraging students to continue their education. With respect to cultural capital, our results point out that higher education attainment of the father is associated with a higher propensity of enrolment in a master's programme. This is according to the theory of Bourdieu ( 1977 ) linking educational success to the possession of embodied cultural capital, which determines cultural and social reproduction across generations. With respect to institutional factors, we found that the performance of universities influences the intentions of students to pursue master programmes. It seems that students in universities with higher performance are more satisfied and more inclined to enrol in master programmes.

Furthermore, our results provide evidence supporting the influence of predictors derived from the human capital theory, with some particular aspects that appear in relation to master education. First, our expectations concerning the influence of traditional predictors, such as the perceived benefits upon completion of the education programme were not confirmed. Instead, variables related to the individual demand for specialised skills were found to significantly influence the predisposition of bachelor students to enrol in master education. We found that students working full-time are more inclined to apply for a master's programme than those not working. As attending master programmes is a way of acquiring specialised skills, those working are those who can use such skills and benefit from them. The demand for specialised skills is higher among those who work full time, suggesting that students who work expect higher returns from pursuing a master’s degree than those not working. The latter are less likely to take the risk of accumulating more education for future gains than those who are full-time employed. Master programmes are seen to bring higher returns for insiders on the labour market, rather than for outsiders. This is consistent with the theory that “insiders” often enjoy better employment opportunities than the “outsiders” (Lindbeck and Snower, 2001 ), allowing them to benefit more from continuing their education at master-level. On the other hand, seniority is associated with a decrease in the predisposition of applying to a master programme. As individuals accumulate experience in the workplace, they are no longer in demand for acquiring specialised skills. So, we can consider that master programmes are seen as providing specialised skills required on the labour market, necessary for those who didn’t acquire such skills by longer working experience.

Regional variation in the influence of STEM and non-STEM majors on the choice of enrolment in master education

First, the current study confirms that predisposition for pursuing master’s degrees is influenced by the field of education. We found that, generally, STEM students are more interested in master’s degrees than non-STEM students. It suggests that both the demand for highly specialised skills and advantages obtained by master graduates vary in relation to STEM vs. non-STEM fields (Lee et al., 2020 ).

On the other hand, we find evidence indicating significant regional variability in the intentions of enroling in master programmes. This is in line with the idea that returns to education vary across regions within a country (Backman, 2013 ) as the gains from education are determined by the local labour market (Combes et al., 2008 ). According to the new economic geography theory (Krugman, 1991 ), core regions provide higher returns than other regions. Our results confirm this perspective and show that intentions of enrolment in master education are higher in large regions with intensive economic activity, such as the Bucharest-Ilfov region, which includes the capital of the country.

More importantly, our results show that the local context is not independent of the field of education when shaping students’ educational choices. There is a significant regional variation in the difference between STEM and non-STEM students. According to our findings, between-region differences in the intention of applying to a master programme vary in relation with the field of education, showing the complex way in which local conditions interplay with graduating STEM vs. non-STEM fields. So, differences between the propensity of STEM and non-STEM students to enrol in master education varies across local contexts.

More exactly, between-region differences in the intention of applying to a master's programme are greater for STEM students than for non-STEM students. This is consistent with the concept of constrained choice, reflecting the way structural factors interplay with individual decision-making and influence the educational pathways of students (Kurlaender and Hibel, 2018 ). So, our results suggest that decisions of STEM students in relation to master education are more sensible to the local context factors, while choices of non-STEM students are more invariant across regions. As a result, the difference between the intentions of STEM and non-STEM students varies in relation to the local context, further confirming the theory that core regions provide higher returns to the accumulation of master education than other regions.

The role of the business innovation context in shaping predisposition for master education of STEM and non-STEM students

The empirical results confirmed the influence of local-level factors and showed that the intensity of the business innovation is of relevance. We found evidence that more innovative business contexts are less conducive to the enrolment of students in master programmes. Our results suggest that students living in regions with more developed business innovation display a lower propensity to pursue master programmes, probably due to higher foregone earnings. From this point of view, more innovative economic environments act as a pull mechanism for bachelor graduates, preventing them to prolong their educational careers.

Moreover, innovative business environments discourage more STEM students from further continuing their education. These students are probably those who expect higher immediate earnings in enterprises introducing product innovations, preventing them from further enrol in master education. On the other hand, non-STEM students are less influenced by the regional innovation conditions and their intentions to pursue master education are more invariant across regions. Our findings suggest that forgone and future earnings of non-STEM students are more similar across regions with different levels of business innovation intensity. This suggests that immediate earnings available to non-STEM graduates are less fuelled by the local innovation ecosystem.

So, in general, after controlling for various individual and institutional factors, STEM students are more interested in pursuing master's education than non-STEM students, suggesting that they anticipate higher returns when accumulating master-level education. However, STEM students’ intentions are more influenced by the regional innovation conditions as they are more discouraged to enrol in master education than other students by more innovative business contexts. It seems that such contexts provide immediate attractive incentives for STEM bachelor graduates, preventing them from further investing in master's education. Individuals decide to further accumulate human capital as long as they anticipate that future additional earnings are higher than the direct and indirect costs of continuing education. From this point of view, our results suggest that STEM bachelor graduates in innovative business contexts are discouraged from continuing formal education due to higher immediate earnings. On the other hand, enterprises with a higher propensity to innovation are also the ones providing more employer-funded training (Toner et al., 2004 ). This could represent an alternative way to acquire specialised skills, replacing the demand for master's education.

The proposed model should be further tested on more comprehensive sets of data, covering more variate educational and economic contexts. Regarding the relevance of our findings to other contexts, one has to consider the economic, cultural, and educational diversity of different regions. For instance, countries with more developed innovative ecosystems and strong links between education and industry may display a more positive influence of business innovation on participation in master education. On the other hand, the influence could differ in regions where the innovation ecosystem is developing or educational systems are less connected with the industry. Acknowledging the study’s geographic limitation is important. While the results provide valuable insights into the relationship between master education and regional innovation conditions in Romania, these findings may not be relevant to other contexts without considering differences in education and economic systems. This limitation points to the need for localised studies or comparative research addressing similar research questions. Future research that can address such limitations and explore the model’s relevance in varied contexts can include cross-country comparative studies.

Final reflections and policy implications

Educational decisions are an important topic of study for education research. The results of this study are in line with recent educational choice models that include individual, institutional and economic characteristics among factors shaping decisions of enrolment in master education (Perna, 2006 ; English and Umbach, 2016 ). Consistent with Bourdieu's ( 1977 ) theory, we found that parent education and academic performances predict the propensity towards master education, confirming the results of previous studies (González and Dávila, 1998 ; Latiesa, 1989 ; Jiménez and Salas-Velasco, 2000 ; Mullen et al., 2003 ; Perna, 2004 ; Xu, 2014 ). Also, according to our results, university performances shape the intentions of students to pursue master’s degrees, supporting conclusions of other studies (Schapiro et al., 1991 ; Hartman and Schmidt, 1995 ; Kallio, 1995 ; Zhang, 2005 ). In addition, we provide evidence that the expected benefits of a master's education are higher among full-time workers, especially at the beginning of their careers.

On the other hand, our study complements the literature in the field of master’s degree attainment in STEM education. With respect to differences across fields of study, we show that STEM students are more interested in master’s degrees than non-STEM students. This research covers a knowledge gap related to the extent to which differences between STEM and non-STEM majors are influenced by local contexts and economic conditions. More exactly, the proposed model and our empirical results provide a better understanding of the local context's influence on the educational choices of STEM and non-STEM bachelor students. By employing a multi-level model, we confirm that educational choices are shaped by a dense combination of factors, including individual, university and local level factors. Moreover, we show that the influence of local circumstances depends on the individual-level factors. Local conditions regarding business innovation influence educational choices differently in relation to the field of education. STEM students’ propensity to enrol in master’s degrees is more influenced by the innovation environment than other students.

Understanding how individual, institutional, and contextual factors influence the intention to pursue master’s degrees can be beneficial for improving STEM master’s level programmes efficacy. Our study allows the formulation of several recommendations and implications for STEM higher education policy and practice, including for the widening participation agenda.

First, our study confirms that, in general, the propensity to a linear transition from bachelor to master’s degrees is higher for specific groups of students, such as students with better academic performances, those from families with higher educational attainment, students working full time and those at the beginning of their working history. From this perspective, universities need to find mechanisms for enhancing the access of students with lower grades or from less educated families to master-level education and to adapt the way such programmes are delivered to the needs of working students in early career stages. In particular, financial support schemes could be beneficial for students interested to pursue master's education but are discouraged by the opportunity cost of not entering the labour market immediately. Such support schemes would include scholarships and special loan conditions available for students from less advantaged backgrounds. Moreover, master programmes are expected to provide specialised skills that are used in the workplace. Thus, universities need to enhance their link with the world of work and design master programmes that are closer to the skills demands of the companies. Educational institutions should revise curricula to increase their relevance and strengthen partnerships with the industry to provide flexible, relevant learning opportunities and practical work experience for students, matching education with the demands of business environments. For instance, collaborative programmes between businesses and universities could provide opportunities for students to acquire practical experience through work-based learning while still enabling students to pursue master-level education. Such an approach combines the benefits of immediate job placement with ongoing education. Also, by improving the overall quality of their educational process, universities can expect to retain more bachelor graduates in their master's programmes.

Second, our results show that STEM bachelor graduates anticipate unattractive net benefits from pursuing master's education in more innovative business contexts, probably due to higher forgone earnings. This conclusion is consistent with the idea that highly innovative local contexts attract highly skilled people and talents to a greater extent (Toner, 2011 ). In such dynamic innovation landscapes, STEM educational institutions need to strengthen their synergy with the local business sector and improve opportunities for master students to work while studying. Thus, providing incentives and developing collaborative structures between universities and the business environment could balance immediate job opportunities with increased long-term returns of continued education for STEM graduates in innovative regional contexts. For instance, tax incentives granted to enterprises that stimulate employees to pursue master's education through funding or paid leave could help mitigate the trade-off STEM graduates face between full-time immediate employment in innovative enterprises and continuing education. In addition, more flexible learning pathways would allow STEM students to engage with the industry while pursuing master's studies. This could include part-time study options, industry placements as part of the learning programmes, or projects in collaboration with local businesses. In particular, expanding dual education within STEM master programmes would be beneficial for retaining bachelor graduates and improving the capacity of STEM education to respond to local skills demand. In addition, career guidance services should be enhanced to better inform undergraduate students about the long-term returns of master's education versus the immediate benefits of entering employment. This guidance should be tailored to the specific context of the students’ major and regional innovation environment.

We conclude that human capital theory continues to provide a valuable framework for understanding educational choices, especially in the case of STEM fields. Future research will focus on longitudinal studies to track STEM and non-STEM graduates’ long-term career outcomes. This would offer insights into the relevance of masters' education for the skills demands of local industries. Comparative studies across different regional innovation ecosystems can also shed light on how specific local conditions allow graduates of various fields of education to benefit from pursuing masters' education. From the methodological perspective, this study highlights the importance of robust approaches to understand the complex dynamics between education, career choices and local economic contexts. Future research should consider mixed methods designs that combine quantitative analysis with qualitative insights from students, educational institutions and industry stakeholders. This would offer an in-depth understanding of graduates’ motivations, barriers, and opportunities.

Data availability

The survey dataset analysed during the current study is available as a supplementary file.

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Acknowledgements

This research was funded by the Ministry of Research, Innovation, and Digitalisation of Romania under NUCLEU Programme PN 22100102. The funding body was not involved in the design of the study, data collection, analysis, interpretation, or writing of the manuscript.

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Ana-Maria Zamfir, Adriana AnaMaria Davidescu & Cristina Mocanu

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Zamfir, AM., Davidescu, A.A. & Mocanu, C. Understanding the influence of business innovation context on intentions of enrolment in master education of STEM students: a multi-level choice model. Humanit Soc Sci Commun 11 , 1087 (2024). https://doi.org/10.1057/s41599-024-03601-5

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How Business Innovation Takes Companies to the Next Level

By embracing business innovation, you set yourself up to provide invaluable goods and services to consumers, building your band all the while.

Highly successful businesses are always forward-looking. Their leaders brainstorm products and services that would allow them to acquire new customers, stay relevant, and uncover new revenue opportunities. 

Smaller companies can also embrace innovative solutions to keep their businesses growing and their customers satisfied. Here’s how business innovation can lead to increased market share and higher profits.

Table of contents:

What is business innovation?

Why is business innovation important, types of business innovation, how to innovate in business, business innovation faq.

Business innovation refers to the process of introducing new ideas, products, services, or operational methods to create value and drive growth. Sustaining innovation involves constant small changes that keep a business relevant, while disruptive innovation aims to introduce entirely new products or business models with the power to revolutionize an industry.

Depending on a company’s industry and business model , the goals of business innovation may include:

• Improving products. Business leaders use innovation to create new products or improve existing ones.
• Revamping business models. In business-model innovation, a company creates new business models or refines the one it already has.
• Boosting revenue. Most companies welcome new ideas that produce increased revenue, whether that’s expanding into new markets or finding more revenue opportunities from an existing customer base.
• Introducing new technology. Many businesses can gain a competitive advantage by embracing technological innovation, even if their core business and revenue model remain otherwise unchanged.

For most successful companies, innovation is the key to survival. Business innovation does the following:

• Rewards people for their best ideas. In a culture of innovation, companies ask employees to bring their most innovative ideas to the table. When team members see their ideas implemented, morale goes up, inspiring a new round of innovation.
• Unlocks new processes. By thinking outside the box, a company can upend the conventional thinking that sometimes grinds legacy businesses to a halt. With employees constantly generating ideas for improvement, companies can unearth innovations that help them stay ahead of the competition.
• Keeps companies ahead of the competition. Very few businesses survive by doing the exact same thing over many decades. Video game giant Nintendo began as a playing card company in the 1880s. Delta Air Lines began as a crop-dusting company. Athletic apparel company Gymshark started with supplements. Businesses large and small remain relevant by updating their operational models to meet market demand.

Product innovation

Process innovation, marketing innovation, organizational innovation, business-model innovation, industry-model innovation, service innovation, revenue-model innovation.

There are many real-world examples of business innovation. Some focus on improving products, while others help workers save time or improve productivity. Here are eight types of business innovation used by many successful businesses:

This type of innovation involves developing new or improved products or services to meet changing customer needs or market demands. It can range from entirely new inventions to enhancements of an existing product. Innovative product development often leverages new technologies, such as those that make batteries last longer or fabrics more stain-resistant.

Process innovation focuses on improving internal operations and workflows. It seeks to enhance efficiency, reduce costs, and streamline processes. This can involve adopting new technologies, such as artificial intelligence (AI). It could also mean reengineering existing business processes, such as changing an inventory management strategy or a customer retention strategy.

Marketing innovation involves finding new and creative ways to promote and position products or services in the market. It may include innovative advertising strategies, social media campaigns , and influencer marketing . Some of these innovations require embracing brand-new marketing channels, while others involve creating updated content for existing channels.

Organizational innovation relates to changes in a company’s structure, culture, or management practices. It often aims to foster a more innovative and adaptive environment, encouraging employees to think creatively, collaborate, and take risks. Successful innovation in this sphere may include reorganizing teams, introducing new leadership styles, or creating innovation-focused departments.

This type of innovation involves rethinking the fundamental way a company creates, delivers, and captures value. It can lead to entirely new revenue streams, pricing strategies, or distribution methods. Examples of business-model innovation include a software company shifting to a subscription model or a jewelry seller starting a referral program .

Sometimes, in the course of idea generation, businesses find themselves exploring entirely new industries. A discussion of new revenue streams can lead to a retailer investing in commercial real estate, or a phone manufacturer delving into software development. This can be a source of growth and diversification, which hedges against upheaval in a company’s core business.

Service innovation specifically focuses on improving the way businesses provide services to customers. Examples include introducing digital self-service options, ecommerce chatbots , or product-return drop boxes.

Revenue-model innovation overlaps with business model innovation, but it specifically focuses on revenue growth. For example, a company could adjust its revenue model by allowing sponsored ads on its website or by creating membership tiers that provide different levels of service. Revenue-model innovations usually follow a period of market research so key stakeholders can better understand customer behavior and budgets.

• Cultivate a creative environment
• Assume a customer perspective
• Research emergent technologies and trends
• Combine multiple innovation strategies

Developing innovative ideas can play a crucial role in helping your business rise above the competition. The innovation cycle can be broken down into six key phases: ideation, development, testing, implementation, evaluation, and adoption. Here are four tips to help you generate and develop innovative ideas to develop and test:

1. Cultivate a creative environment

Foster a workplace culture that values and encourages creativity and out-of-the-box thinking. Make employees feel comfortable sharing their ideas and taking calculated risks. It may help to assemble diverse teams with varied backgrounds, skills, and perspectives. Different viewpoints can lead to more innovative solutions.

2. Assume a customer perspective

Understand your customers’ needs and pain points via tools like buyer personas , surveys, interviews, and feedback loops. If you’re in ecommerce, pay attention to your user interface (UI) and user experience (UX) , viewing them like a new customer experiencing your site for the first time. You can also practice social listening on your company’s social media channels. This can help you innovate with respect to the customer experience.

3. Research emergent technologies and trends

Keep a finger on the pulse of emerging technologies and industry trends. Attend conferences, read industry publications, and engage with thought leaders to understand the potential for innovation.

4. Combine multiple innovation strategies

The various forms of innovation are not mutually exclusive, and businesses often employ multiple innovation models to remain competitive and meet evolving customer expectations. With the right team, you can tackle multiple projects, such as concurrently changing your revenue model and overhauling office workflows.

What is the business innovation cycle?

The business innovation cycle breaks down the typical steps a business takes in order to innovate: ideation, development, testing, implementation, evaluation, and adoption. Depending on your business model and philosophy, the steps may be slightly different.

What are the keys to innovation in business?

The keys to innovation in business are fostering a culture of creativity, staying customer-centric, embracing emerging technologies, and promoting continuous learning and adaptation.

Is invention the same as innovation in business?

No, invention and innovation in business are not the same. Invention is the creation of new ideas or products, while innovation involves the successful implementation and commercialization of those ideas to create value and drive growth in the marketplace.

What is sustaining vs. disruptive innovation?

Sustaining innovation refers to incremental improvements made to existing products or processes to maintain a company’s competitive position. Disruptive innovation involves the introduction of entirely new products, services, or business models that can disrupt or reshape an industry by addressing unmet needs or creating new markets.

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How business innovation can help solve the housing crisis

Betsy Vereckey

Aug 21, 2024

The U.S. housing market is sorely in need of a makeover. Prices are high, supply is tight, and it’s tougher than ever for the average American to own a home. In terms of affordability, the U.S. faces a shortage of nearly 7 million homes accessible to lower-income residents, according to the National Low Income Housing Coalition .

Even so, housing advocates are feeling hopeful that next year may finally bring change. 

“Come January 2025, we’ll have a new administration, and there will be pressure and an opportunity for, hopefully, major housing legislation. Because the reality is that we haven't had major housing legislation in nearly 40 years,” said  Priya Jayachandran , CEO of National Housing Trust. 

In a keynote address at the  MIT World Real Estate Forum in June, Jayachandran attributed part of the problem to restrictive zoning that limits the amount of room for new housing. 

“The statistic I like to use is that the city of Los Angeles is home to 10 million people, but current zoning would allow for 4 million,” Jayachandran said. “Zoning has become a weapon of exclusion in this country." 

Compounding the problem are cumbersome regulations that can slow the development process — which currently averages about five to 10 years from inception to move-in day, Jayachandran said. “Not only are there usual hoops that you have to jump through — water permits, sewage lines — but there's a lot of NIMBY opposition. All of those approvals that are needed, every one of those is an opportunity that invites neighborhood opposition,” she said. 

But Jayachandran said she feels the timing is finally right to make real progress over the next few years. A confluence of factors are working in the sector’s favor. 

“We finally have the political winds at our back to do something about this problem,” she said. “We've got partners in the tech sector [and] in the academic sector. Venture capital is finally interested in fintech for housing.” 

Innovation can help drive the sector forward, Jayachandran said. Some of her recommendations: 

Embrace modular housing to help address demand 

There’s a desperate need to update the affordable housing stock in the U.S. Jayachandran said, with many properties now decades old “and showing their wear and tear just like any home that we live in is.” 

Part of the problem is that productivity in the construction industry has declined by half  since 1968, despite the fact that nearly every other industry has become more productive.

Enter modular building, a way to lower construction costs and speed up the building process by fabricating buildings off-site at a factory, then transporting those components to a construction site where they’re assembled.

“We have now several factory-built construction companies that are serving the affordable housing market, some in Europe, some in the U.S., and you’re finding more affordable housing owners experimenting and trying it,” Jayachandran said.

Build ADUs to ease the housing shortage 

Accessory dwelling units are small secondary living areas that can be built in a backyard or attached to a primary dwelling to help ease the supply crisis. In 2020, there were 1.4 million of them in the U.S., located mostly in California, Florida, Texas, and Georgia,  according to Freddie Mac , and they continue to grow in popularity.

While ADUs are not a silver bullet, Jayachandran said, they’re still “a real opportunity,” particularly for housing single people. 

“The reality is that it doesn't work well for a family,” Jayachandran noted. “It doesn't usually work well for children. [ADUs are] one potential solution for the supply crisis, but we need a whole lot more.”

Develop software to facilitate the search for affordable housing

Related articles.

As people search for affordable housing, software innovations can improve the user experience in two immediate ways, Jayachandran said. They can make it easier for people to apply for affordable housing online and help them build a credit score so that they can qualify.

Jayachandran said that in the D.C. area, no regional portal exists where you can apply for affordable housing. If you want to be added to the waitlist for housing, you have to show up in person and put your name on a waitlist, property by property. 

“Those offices are open nine-to-five, so you would have to take time off of work to go and physically apply to each of those communities,” she said. “Software finally is coming and trying to do something about that.”

Software can also help on the financial side. One example is  Esusu , which offers credit scoring for renters so that affordable housing owners can connect their resident’s on-time rent payments with the three credit reporting agencies to develop a credit profile and a credit score.

More solutions are hopefully forthcoming, Jayachandran said, citing as one example the  Terner Center at UC Berkeley , which has created an accelerator for new housing and affordable housing innovation. 

“You're seeing a lot of tech money —  CZI [the Chan Zuckerberg Initiative] and the  Ballmer Foundation , [run by] the former CEO of Microsoft, and others — putting money into housing innovation. It’s finally accelerating, and it's exciting,” Jayachandran said. 

Create different housing programs for different segments of the market

On the policy front, Jayachandran said she hopes for more program design innovation. The Low-Income Housing Tax Credit , first passed in 1986, is an “amazing” program, but it’s “become our answer to every affordable housing problem,” she said, noting that the tax credit “hasn't kept pace with our need.” 

“The Low-Income Housing Tax Credit is one program, but the reality is we need lots of different housing programs,” Jayachandran said, whether that’s permanent supportive housing, single-family homeownership, or the “missing middle.” This refers to middle-income folks who earn between 80% and 120% of the  area median income ; these households don’t qualify for traditionally subsidized low-income housing but still struggle to find homes they can afford. 

“We haven't seen as much innovation on housing programs really meeting people where they are,” Jayachandran said. “I'm excited and hopeful for this opportunity over the next couple of years to rethink the future of affordable housing.”

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What’s on the EU research and innovation policy agenda for autumn 2024?

As EU policymakers return from the summer break, we look at key decisions that will affect the R&I community in the months ahead

European Commission, Berlaymont building, Brussels, Belgium. Photo credits: Fred Romero / Flickr

After several crisis-filled years characterised by wars, pandemic and economic challenges, the recent European elections and subsequent summer break offer an opportunity to pause and take stock.

Now, as Europeans filter back to their desks, it’s a good time to look at what the research and innovation community can expect this autumn. The current geopolitical environment has placed R&I topics firmly in the mainstream debate, and that is not likely to change any time soon. Here are some of the stories we expect to be covering in the months ahead.

New commissioner

The first question is, Who will be the next commissioner for Innovation, Research, Culture, Education and Youth? Bulgaria’s Iliana Ivanova has held the post since 2023 after compatriot Mariya Gabriel left to return to national politics , but the country has yet to put forward a commissioner candidate for the upcoming mandate.

Commission President Ursula von der Leyen has given member states until 30 August to nominate candidates for the College of Commissioners, after which she will assign portfolios. Bulgaria is one of several countries currently dragging its feet.

Whoever is nominated as the new research commissioner will then be quizzed by MEPs in the Parliament committee for industry, research and energy ITRE, and culture and education committee, with hearings expected to take place in September or October.

Defence funding

For the first time, von der Leyen’s team will include a Commissioner for Defence . During her bid for re-election, she pledged to build a “veritable defence union”, and to present a white paper on the future of European defence.

The white paper, which should be published in the first 100 days of her new mandate, will identify investment needs. Research and innovation may not be at the top of the list, considering the urgent need to provide Ukraine with ammunition, but von der Leyen has promised to reinforce the European Defence Fund which supports R&D projects.

Competitiveness agenda

Speaking to MEPs ahead of her re-election vote, von der Leyen said prosperity and competitiveness would be her top priority. But perhaps the flagship policy of this new strategy, to propose a European competitiveness fund, will have to wait until the EU’s next long-term budget for 2028-2034. The Commission should publish its proposal for this budget by mid-2025.

However, there are several proposals in von der Leyen’s political guidelines that may be put forward before the end of the year and could have an R&D component. For example, she plans to propose a Clean Industrial Deal in her first 100 days to “help create lead markets in everything from clean steel to clean tech” and “speed up planning, tendering, and permitting”.

Further proposals are likely to be influenced by former Italian prime minister Mario Draghi’s highly-anticipated report on EU competitiveness. He was expected to submit his findings to the Commission over the summer, but publication was delayed and should now happen some time this autumn.

FP10 expert group

All eyes will be on the independent group set up to advise the Commission on the interim evaluation of Horizon Europe and its successor, Framework Programme 10. The group’s feedback should be influential in shaping the next framework programme.

The group of 15 experts , led by former Portuguese research minister Manuel Heitor, is meeting monthly between January and October 2024, and is due to deliver its report to the Commission on 16 October.

After taking the advice on board, the Commission should publish its interim evaluation of Horizon Europe early next year, and then present its proposal for FP10 mid-way through 2025.

2025 work programmes

The post-election transition will mean delays to the publication of the Horizon Europe work programmes for 2025 . These are set to be adopted in March or April 2025. We already have some idea of what will feature because the Commission has published its strategic plan for the final years of Horizon Europe, including nine proposed new public-private partnerships.

We are waiting on the work programmes under Pillar II for large collaborative research projects, research infrastructures and the Widening programme for cohesion in research. For other parts of Horizon Europe, such as the European Research Council and the Marie Skłodowska-Curie Actions, the Commission has extended the current work programmes to cover 2025.

Research lobbies

As well as awaiting the conclusions of the Draghi report, the R&I community will be expecting progress towards implementing Enrico Letta’s recommendations to create a ‘fifth freedom’ of a single market dedicated to the free movement of research, innovation, knowledge and education.

Research lobbies expect the composition of the new Commission to set the tone.

“R&I has never been so central in the political guidelines of the Commission president before the start of a new European Commission,” said Kurt Deketelaere, secretary general of the League of European Research Universities. “Hopefully this will be reflected in the R&I portfolio and its holder.”

Deketelaere is hoping research, innovation and education will remain a standalone portfolio, rather than being integrated into a larger competitiveness, internal market or economy portfolio. That is the case in “a number of member states”, he noted, saying much will depend on who is picked for the role. “Let's hope we get someone with experience and expertise on or in Europe, research, innovation and education.”

Deketelaere also wants to see member states step up. “They can start with stopping the annual circus of opposing the annual Horizon Europe budget as proposed by the European Commission and supported by the European Parliament,” he said. The Council has proposed cutting €400 million from the Horizon budget for 2025.

Muriel Attané, secretary general of the European Association of Research and Technology Organisations, said she is looking forward to working with the new research commissioner in the coming months, including on preparations for FP10 and the next long-term budget, with competitiveness set to have a central role in the discussions.

“Luckily, about 70% of the current FP Horizon Europe budget thanks to its Pillar II is geared towards pan-EU collaborative R&D&I with key industrial partnerships,” she told Science|Business.

“We believe this will be the main asset the new commissioner will have in their pocket, to actually ensure a strong FP10 as well as avoid the FP budget being cannibalised by the announced new competitiveness fund and to avoid that we would be exchanging R&D&I grants for loans.

“We do not need a new Juncker Plan, which did not foster R&D&I,” she added, referencing the 2015 programme that used loan guarantees to secure financing for infrastructure and other projects that were otherwise too risky to invest in. There have been calls to replicate that plan to decarbonise Europe’s industry.

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Spirit of Innovation Blossoms in Class of ’28

The anticipation was palpable at the University of St. Thomas, where more than 120 first-year students gathered a week before classes started to brainstorm, design and pitch business prototypes at the Freshman Innovation Immersion event.

“It’s a phenomenal opportunity for students to explore and learn about what it means to have an innovative mindset,” said Danielle Ailts Campeau , associate dean of the Schulze School of Entrepreneurship at the Opus College of Business , which sponsored the interactive event for entrepreneurial-spirited students to solve a challenge and pitch their solution.

The participating students moved into their residence halls early, building community with like-minded classmates in a one-day speed course in entrepreneurship. They all competed for a chance at cash prizes, up to $500 per winner. No matter the outcome, they gained valuable skills and jump-started their relationships, culminating with a dinner cruise on the Mississippi River.

The students representing nearly 40 majors brought their fresh ideas to the table. Coached by more than 40 experienced mentors including St. Thomas alumni, business owners and other members of the entrepreneurial community, students left their comfort zone to challenge themselves. By developing and pitching their ideas, they gained skills in public speaking and creative thinking, all while building confidence.

“We’re very fortunate to have amazing mentors who spend their time with our students all day today, providing guidance and coaching,” Campeau said.

One of the first activities of the day was the “100 Days of Failure” exercise, designed to show students how terrible business ideas can be flipped to become good ones.

“It’s been a really great opportunity to connect with other freshmen before classes start,” described participant Zoey Myers. The first-year student from Chaska, Minnesota, was especially thankful for the guidance by their mentor.

“She was really helpful at putting things in a realistic perspective and knowing what we need to address when creating a business proposition,” Myers said.

For accounting major Karley Lacis from Centerville, Minnesota, this was the first time she had ever done anything entrepreneurial.

“It’s a fun new experience. A lot of different thinking than I’m used to, but great thinking!” she said.

Curious eyes perused the room filled with refreshments and supplies, such as flip chart easels, Post-it notes and more. With the resources present, it was up to the students to make something out of them.

The ideas were flowing in the purple and gray hall, where everyone had the potential to be creative problem-solvers.

Max Evans and his teammates want to invent the new go-to portable phone charger.

“We’re making it the size of two credit cards, so it just sits in your wallet. You can just attach it to the back of your phone and it charges your battery to full,” he said ambitiously.

The spirit within the team is infectious; they believe they have created the first truly portable charger – something people will actually carry around.

Freshman Innovation Immersion is one of many entrepreneurial opportunities available to students at St. Thomas. The university awards over $500,000 annually in student competitions throughout the year, providing students the opportunity to develop their ideas and concepts over time. Feedback from these competitions encourages self-awareness and reflection, giving students tangible skills for thoughtful problem-solving that will benefit them throughout their studies and after graduation.

The Opus College of Business is committed to fostering innovation across all disciplines, not just business.

“Innovation happens in every industry,” Campeau said. “Opening these competitions up to all students allows them to tap into their innovative potential and solve problems that will make a difference in the world.”

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Research: How to Build Consensus Around a New Idea

• Devon Proudfoot
• Wayne Johnson

Strategies for overcoming the disagreements that can stymie innovation.

Previous research has found that new ideas are seen as risky and are often rejected. New research suggests that this rejection can be due to people’s lack of shared criteria or reference points when evaluating a potential innovation’s value. In a new paper, the authors find that the more novel the idea, the more people differ on their perception of its value. They also found that disagreement itself can make people view ideas as risky and make them less likely to support them, regardless of how novel the idea is. To help teams get on the same page when it comes to new ideas, they suggest gathering information about evaluator’s reference points and developing criteria that can lead to more focused discussions.

Picture yourself in a meeting where a new idea has just been pitched, representing a major departure from your company’s standard practices. The presenter is confident about moving forward, but their voice is quickly overtaken by a cacophony of opinions from firm opposition to enthusiastic support. How can you make sense of the noise? What weight do you give each of these opinions? And what does this disagreement say about the idea?

• DP Devon Proudfoot is an Associate Professor of Human Resource Studies at Cornell’s ILR School. She studies topics related to diversity and creativity at work.
• Wayne Johnson is a researcher at the Utah Eccles School of Business. He focuses on evaluations and decisions about new information, including persuasion regarding creative ideas and belief change.

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