"Innovation" comes from the Latin word "innovare" and stands for renewal. From an economic point of view, innovation is something new that brings benefits for an organization or society.
"Management" is a term that is constantly used in companies. It stands for the management of a task and the coordination of activities in order to achieve a defined purpose and goals.
Consequently, innovation management is the systematic promotion of innovation in organizations and includes tasks of planning, organization, leadership and control.
Innovation management deals with all measures to promote innovation in organizations and to generate benefits, for example.