What are the Key Elements of Innovation Management?
Today innovation is becoming a part of most searched topics around the world. Talking about innovation management, then innovation is also becoming an important part of business growth. Looking at the Accenture 2015 US Innovation's survey, it was observed that 84% of executives are dependent on innovation for their business's growth. Many companies around the world have started adopting innovation in their business because: It enhances the company's growth. It keeps Organizations Relevant. It reflects the organization's uniqueness. In business, Innovation management is basically defined as the procedure of designing and introducing a new concept to develop the business. The simplest way to understand this term can be possible by focusing on its key elements, and they are: Collaboration: Collaboration is an essential term, and it holds maximum weightage in Innovation Management. Collaboration involves a group activity that leads to community development. In this compe