Creating space for innovation : Companies need to examine existing policies if they wish to foster innovation and change

Purpose – The purpose of this paper is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – In today's shaky economic climate it might be understandable if some CEOs supported competency modeling as a way to recreate former success. However, Cohn et al. argue that this approach stifles the type of environment in which innovation can occur. Instead, the best way to ride out the current economic down turn may be to support the type of creative, off‐the‐wall thinking that can find solutions to problems that have not even been considered yet.. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.