The Management of Innovation

Management of innovation involves overseeing the process of developing, implementing, and refining new ideas, products, or services within an organization. It includes encouraging creativity, fostering a culture that supports change, and effectively allocating resources to bring innovative concepts to life. Good innovation management balances risk with opportunity, ensuring that new initiatives align with the company's goals and deliver value. It also involves continuous improvement, collaboration across teams, and adapting to market or technological changes to maintain competitiveness and drive growth.