DEVELOPMENT OF STRATEGIC INNOVATION MANAGEMENT COMPONENTS

Abstract

The concept of strategic innovation management is the psychological and social process with regard to the entire development of an organization. It represents the capability to create and transform the business management concept, i.e. administration management, marketing and entire business system of an organization to enhance its sustainable competitive advantage.   This research study of the strategic innovation management is based on the fundamental concepts and theories such as (1) the Resource-Based View (RBV) Theory, (2) Contingency Theory and (3) Dynamic Capability. It is found that the main variable factors shaping the concept of strategic innovation management consists of (1) networking business, (2) quick response to technology, (3) integrated management process, (4) flexible resource allocation and (5) creativity development beneficial when being applied for the development of the conceptual framework or organization development through various variables in order to set the future strategic innovation management for an organization.