What is Contingency Approach

Innovation capacity is one of the essential elements that ensure sustainability of the organizations. Organizations need to be creative and innovative so as to put products and services to market by forecasting customer needs to get competitive advantage in a rapidly changing business environment. Businesses that are more pioneering in innovation will be more successful if they can respond to changing environmental conditions and develop new capabilities that will allow them to deliver better performance. Innovation helps businesses to reduce costs, improve performance, and create new products and services to increase their competitiveness. Scholars contend that the development and implementation of human resource management is critical to benefit such essential employee contributions.