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What is Innovation Management
Innovation management contains thematically all that is related to innovation in organizations and businesses. The ability to manage innovation is a natural ability which helps to introduce new or improved goods, services, processes, procedures and other things.

“Above all, innovation is not invention. It is a term of economics rather than technology. Non technological innovations – social or economic innovations – are at least as important as technological ones.”

Peter F. Drucker

Innovation management contains thematically all that is related to innovation in organizations and businesses. Summarized below are the various management methods and analytical techniques, whose subject is innovation. Without innovation, business, organization or company does not develop forward. The ability to manage innovation is a natural ability which helps to introduce new or improved goods, services, processes, procedures and other things. Innovation is closely linked to quality management, because quality improvement also brings innovation and therefore the mentioned methods overlap each other considerably.

Innovation represents generating and implementation of new thoughts, ideas into practice. Therefore it is closely linked with creativity - innovation is the result of a creative approach and it produces a qualitative change in management, processes, goods or services and the customer will appreciate this change as a new added value for which he is willing to pay.

Basic innovation fields:

  • Product innovation - implementation of new or significantly improved goods or services
  • into production and to the market
  • Technology Innovation - implementation of new or significantly improved production technologies
  • Marketing innovation - implementation of new sales channels (e.g. e-Commerce) or other sales or marketing activities
  • Innovation in processes - improvement, optimization and process reengineering
  • Organizational management innovation - implementation of new management methods, management procedures, incentive systems, processes (e.g. Lean, Six Sigma approaches etc.)

Innovation management methods:

Related terms and methods:

Related management field:

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Last update: 26.05.2016

Comments

Jade Wyatt 10 days

Innovation management, develop and questioning a special that current generation is developing faster and every day there's innovation on new things or within the also current system to include new functions on it not right that each innovation or each concept advanced due to the fact sometimes that things did no longer satisfy the requirements for example on the start of ultimate yr teachers and college inform the scholars to consider a new idea and new innovation which have used inside the market and provide proper dissertation writing services UK how this will assist and why you are creating this system.

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