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Innovation management is a combination of the management of innovation processes, and change management. It refers to product , business process , marketing and organizational innovation. Innovation management is the subject of ISO 56000 (formerly 50500) [ 1 ] series standards being developed by ISO TC 279 .
The Innovation Funnel Framework consists of nine stages in an innovation process. These nine single elements that are part of three major steps form an end to end innovation process. The first major step contains the input factors of the innovation process. In this model they are described as strategic thinking and portfolio management and metrics.
Improve results of innovation process and contributes to monitor the return of investments made in innovation Share a globally accepted ‘common language’ for innovation management Evaluate the progress of the organisation and identify and share good practices in innovation management
Innovation management — Tools and methods for intellectual property management — Guidance [11] ISO 56006:2021 Innovation management — Tools and methods for strategic intelligence management — Guidance [12] ISO 56007:2023 Innovation management — Tools and methods for managing opportunities and ideas — Guidance [13] ISO 56008:2024
Nevertheless, Edison et al. [79] in their review of literature on innovation management found 232 innovation metrics. They categorized these measures along five dimensions; i.e. inputs to the innovation process, output from the innovation process, effect of the innovation output, measures to access the activities in an innovation process and ...
The opportunity management funnel is a visual representation of phase-gate decision making. Opportunity management is defined as "a process to identify business and community development opportunities that could be implemented to sustain or improve a local economy." [8] The components of opportunity management are: Identifying opportunities.
A cross-functional innovation management committee is a team of individuals from different company departments, including marketing, engineering, design, manufacturing, and research and development, who are responsible for overseeing and managing the new product development process. This committee helps to ensure that all aspects of new product ...
Scaling of innovations is an industrial and social process that leads to widespread use of an innovation. The potential of a production system to undergo this process is called its "scalability". Scaling is regarded the last step after the discovery, proof of concept and piloting of an innovation.
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