WHAT IS INNOVATION MANAGEMENT?

How to keep your company innovative for years to come.

In its simplest form…

Innovation management is the process of managing every stage of a company’s innovation process, from ideation to bringing those ideas to market, with the goal of driving business results.

Innovation can mean something different for every company. For some, it can mean improving existing processes or operations. For others, it can mean the creation of a ground-breaking product or service.

Regardless of how you define it, innovation doesn’t happen without programmatic innovation management.

Your competitors are innovating, are you?

To remain competitive, innovation has to happen. Whether it’s creating new or improving upon existing products or services, a company can only compete long-term if they’re continuously innovating.

We know that 40% of Fortune 500 companies won’t exist in 10 years (Source: Dr. Peter Diamandis). The cost of stagnating as a company, and failing to generate new ideas, manage innovation effectively, and bring those ideas to market, is high.

Managing innovation is easier said than done. Inspiration for new ideas can come from anyone, anywhere, at any time. The question is, how are you going to manage this? An “ideas” email inbox? Spreadsheets? No way.

A more sophisticated and intelligent mechanism must be put in place to keep you organized and focused on the highest value initiatives – the ones that will help you accomplish your enterprise innovation goals.

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