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What is innovation management?

• Innovation management is the process of managing innova-tion within an organization. This includes activities such as managingideas, defining goals, prioritizing projects, improving communications,and motivating teams. As we will see later, innovations have particular lifecycles; today’s innovation will become obsolete in the future.

What is product innovation?

• In this book we focus on innovation inthe organizational context, and although product innovation is an impor-tant part of this, it is still only a part. We can say that innovation relates toproducts, processes, and services. Product innovation is about making beneficial changes to physicalproducts. Examples include

What are the processes of innovation?

• Activities such as productdesign, process engineering, and system analysis are processes of innovation.In many organizations, tension exists between operating the system thatprovides existing products and services for the customer and changing thesystem in order to add more value to the customer, which disrupts the estab-lished operations.

What is innovation according to Drucker?

• Innovation is about developing growth. According to Drucker (1988),innovation can be viewed as a purposeful and focused effort to achievechange in (an organization’s) economic or social potential.