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Innovation Management: Importance, Ideas, and Examples

Acuvate

In less than a decade, innovation management got recognized as one of the most powerful strategies an organization can use to streamline internal processes and boost their business productivity. What is innovation management? What is innovation management? Importance of innovation management.

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When innovation led to a reversal of fortunes

hackerearth

In 2004, CEO Knudstrop embarked on a back-to-the-basics journey, and went from a loss of $292 million that year to a profit of $117 million in 2005. On top of structuring management and operations, every new idea was to be consistent with the company’s goals. The company encourages open innovation via Lego Ideas.

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Top 10 must-read books on Innovation

hackerearth

Innovation and Entrepreneurship by Peter Drucker In this classic book published in 1985, Peter F. Drucker “presents innovation and entrepreneurship as a practice and a discipline.” Called the inventor of modern management, Austrian-born American Dr. Drucker’s insights are still highly relevant and many of his predictions did come true.

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