Innovation management

Innovation management
See also
Types of strategies Value innovation Personnel strategy Outsourcing Promotional plan Types of organizational change Sustainable competitive advantage Structure follows strategy Transformational outsourcing

Innovation management is all the activities that are necessary to develop modern and practical technical solutions. The choice of a new technique, work organization and the whole range of innovative possibilities should be used taking into account financial, social, legal, administrative, environmental, strategic as well as structural and process aspects. An appropriate, well-chosen innovation strategy allows you to gain recognition in the market, thanks to which the company is becoming more and more competitive with other enterprises, and also brings profits. According to Cambell-Allen, innovation management is also the care for the development of culture, aimed at creating, modifying and applying processes, goods / or services, resulting from the creativity and implementation of new ideas in the organization.

Innovation management system

Innovation management system is a whole structure, as well as activities that are necessary for the preparation and practical application of modern technical solutions through the definition of product products. The entire management system consists of the

subsystem for managing creative potential,
subsystem of technical potential management,
subsystem of management of manufacturing techniques,
subsystem for managing the processes of creating and implementing innovations,
financial management subsystem,
subsystem of distribution system management,
information system management subsystem.

Each management system should meet the conditions that apply to the legal regulations of the country. It is also important to achieve the goal - implementation of product or process innovations, while maintaining the designated outlays. It is also necessary to choose an appropriate flow of information, the source of which is the sphere of market and science.

Types of innovative strategies

defensive strategy - lack of innovative solutions introduced by the company,
offensive strategy - creating conditions for creating and developing new solutions by employees,
company acquisition strategy - taking over or merging with another company,
market creation strategy - there are few competitors in a given market area,
license purchasing strategy - the ability to purchase technological licenses from other companies, which allows you to make a profit,
independent strategy - improving existing products on the market and increasing their shares,
a strategy for acquiring specialists - acquiring specialists from competing companies,
strategy of walking in a niche - the company avoids competition from the industry using this strategy.

Stages of the innovation management process

Search - it is receiving from external and internal surroundings, using emerging opportunities for change and technology as well as finding threats. However, the choice is to make selections on technological occasions. With the help of the chosen strategy, one should choose the one that will be needed in the next stages of the project implementation.
Planning process - it occurs in the first phase of innovation management. It guarantees that cohesion will be maintained between the enterprise strategy and the activities and ensures productive resource allocation. Innovation planning is 3-5 years including a review and an annual budget. It is also the determination of the set goals and methods of implementation. The innovation management planning process consists of the following stages: programming, forecasting and plan creation.
Implementation stage - introducing the idea through creating a new product or service. Not only this stage may involve introducing new products to the market, it may also be a change in the technological process. Thanks to technological and market analyzes, it can be stated whether innovation: arouses customers' interest or is real.
The diffusion and improvement process - diffusion is a long-lasting process of assimilating innovations in social systems, through the transmission of appropriate channels at a specific time to the participants of the social system, i.e. the spread of information about a given service / product on the market. On the other hand, discounting is associated with the goal of innovation. Their implementation takes place in the form of market success, lowering costs or increasing market share.
Controlling - observing the activities of introducing innovations to the market. It gives the possibility of changes in the innovation project in the event of mistakes made by employees. The important task of controlling should also include the assessment of the action - gradations of the effectiveness of the goal and the elimination of the irregularities.