PERSPECTIVES IN INNOVATION MANAGEMENT

Abstract

Interest in the concept of innovation has increased during recent years. Innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of goals and processes. The focus of innovation management is to allow the organization to respond to an external or internal opportunity, and use its creative efforts to introduce new ideas, processes or products. The main innovation management dimensions are process, organization structures, strategies and people. Innovation is not just a fantasy it’s the concept of either innovate or die. Its main definition is to recognize the main problem, to solve the problem, to find the best solutions. To invest in innovation and just hope for the success is just the old concept, now the new concept is to invest in innovation and expect fully for the success. Optimum profitability can be obtained by having a balance between innovation pressure and ability to innovate. Innovation processes can either be pushed or pulled through development. A pushed process is based on existing or newly invented technology, that the organization has access to, and tries to find profitable applications to use this technology. A pulled process tries to find areas where customer’s needs are not met, and then focus development efforts to find solutions to those needs. Common tools include brainstorming, virtual prototyping, product lifecycle management, idea management, TRIZ, stage-gate process, project management, product line planning and portfolio management.