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Employers that undervalue management innovation will miss out

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Organisations are failing to embrace management innovation according to the CIPD.

Research from the MLab at London Business School shows less than a quarter of senior managers believe management innovation is given a high level of attention in their organisations compared with product or service innovation which 65% think is highly valued.

Despite the findings, eight out of 10 managers think management innovation is a driver of long-term success.

Vanessa Robinson, head of operations research and policy at the CIPD, said: "The research shows organisations have not yet fully understood how management innovation can be used to embrace the needs of generation Y employees or the opportunities afforded by Web 2.0.

"Pioneers in management innovation attract and retain top employees and they build a capability for change and adaptation. These attributes have never been more important in today's highly competitive business world."

Julian Birkinshaw, deputy dean of London Business School, added: "The research shows that very few companies have got to grips with the potential [of Web 2.0]. Indeed many companies actually ban their employees from using social networking tools at work. Tomorrow's leading companies will be the ones that actively embrace these exciting new tools today."