Challenges of Implementing Innovation Strategies at Large Organizations: A case of Lotte Group
- For many decades, one of the most important focuses of research has been on determining whether or not there is a correlation between the size of an organization and its level of innovation. Unlike small companies, large companies often have well-established structure that are hard to change and change managements seems to be much more difficult especially related to innovation. Nevertheless, there are many examples to prove the opposites. Some large organization like Apple, Amazon... always show great innovation efforts and keep changing in a much positive way. Therefore, the aim of this thesis is to discuss of how large organization can be able to implement innovation when having much drawbacks compare to SMEs. Through the use of a qualitative research approach, researcher was able to explore essential information on the innovation strategies that large companies are using in order to innovate and how they could overcome existing challenges by studying the working process of Lotte Group – one of the biggest companies in Korea.