Kindly assist with the following questions:
1. What is your analysis of the state of the field of innovation management?
2. Describe important issues or current dilemmas in the field.
Please include and references.
Innovation management is the manner in which the innovation of products, services and/or organizations is managed. Innovation management requires us to look to our future needs, and to be creative with our solutions so that we can enter a niche market before our competitors. Innovation management is about competing in new ways.
The state of the field of innovation management today is that it although innovation management is alive and well, people and businesses are expecting more due to the online instant communication environment that they have gotten used to. Global businesses are more connected these days, and virtual meetings are held with clients. As a result, innovation is greatly powered by connectedness.
As data is available in real time and in large quantities, data analytics has evolved. By using mathematical and statistical tools, data analytics allows organizations to verify or disprove existing models and theories. Innovation management allows organizations to make better business decisions that are based on the analysis of data.
A few organizations, such as Google and Netflix, were disruptive in their innovation management. Such organizations generally require a new business model and are prone to high failure rates. Often, disruptive innovation is used ...
This response discusses innovative management and current dilemmas in the field.