Topic: Development of Strategic Innovation Management

Innovation management involves the process of managing an organization’s innovation procedure, starting at the initial stage of ideation, to its final stage of successful implementation. It encompasses the decisions, activities and practices of devising and implementing an innovation strategy.

According to Gartner, innovation management is a business discipline that aims to drive a sustainable innovation process or culture within an organization. Oftentimes, these innovation management initiatives utilize a disruptive method of change to transform business.

With digital transformation, organizations are faced with the need to innovate more and innovate quickly. Innovation drives business growth and helps organizations stay ahead of their competitors.

Innovation management helps generate new business models and creates new products, services and technologies designed for the changing market. Proper innovation management also boosts customer satisfaction and employee engagement.

Prepare a written report, which includes but not limited to the following topics / discussion:

1. Introduction: What Is Innovation – And Why Does It Matter?

2. Identifying Strategic Capabilities

3. What are the stages of innovation strategy?

4.  

5. Benefits of innovation strategiesTypes of innovation strategy

6. Challenges of innovation strategies

7. Sources of Innovation

8. Leadership and Organization of Innovation

Structuring and formatting report submission:

Your report should contain the following:

• Cover page and grading criteria.
• List of Contents Page.
• Main body, which should be organized into numbered sections under appropriate headings including introduction and conclusion.
• Reference list / Bibliography (Harvard Referencing)
• Assignment length: 2000-3500 words (You can exceed the word limit if your discussion is relevant to the topic).