Innovation Management system in an organization at a glance

Innovation is the implementation of a new and useful idea from the creation of a successful, practical application.

Innovation Management influencing factors  i.e internal and external factors

Internal factors:

1. market segments
2. business
3. customer structure
4. cooperation
5. legal framework and property rights

Seven related areas of business innovation that we can come across in an organizational system

1. marketing innovation
2. strategy innovation
3. marketing innovation
4. organizational innovation
5. product innovation
6. technology innovation
7. process innovation

Objectives of innovation Management in an organization

1. growth
2. profit maximization
3. competition
4. customization
5. public welfare and environmental protection
6. job security
7. product portfolio and invention
8. image building

Innovation Management task in an organizational system

1. determination and implementation of innovation targets and strategies
2. identification of future customer requirements and innovation strategies
3. development of corrected answers in the form of markable product and services
4. the decision on the implementation of innovation
5. plan and control innovation processes
6. creation of corporate innovation cultures
7. motivate employees to participate actively and assemble innovation teams
8. identification and solutions of conflicts and resistance

Innovation management: integration of personnel

Planning of the innovation at the top management level and realization on other employees level.

Innovation management :types of innovation

Innovation refers to products, services, processes, organizational structures and business system

• product innovation: improvement of existing products and services
• new and improved manufacturing processes and procedures
• organizational innovation: development, renewal and improvement of organizational structures
• business-related innovation: change process within the company and the business-related environment

Reason for the failure of innovation programmes in an organizational system

1. inadequate market analysis
2. the product does not meet the expectation
3. insufficient marketing effort
4. higher cost than budget
5. strengths of competitors
6. bad timing for product launch
7. technical problems in the development and production

Four phases of the innovation process in an organizational system

You can see more of our management training, business, and marketing materials HERE.