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Why Innovation management?

Innovation has never been as present as it is today, everyone talks about innovation, people read about innovation everywhere. But what exactly is innovation and what does innovation management mean? 4 Reasons for using innovation management.

4 Reasons why every company should be concerned with innovation management

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. Schumpeter coined the term innovation with a consequently simple and generally valid definition:

Innovation = invention + market success.

Innovation management structures.

For some companies, innovation management is still a completely new chapter. It is important to consider the following questions:

How can existing processes be combined with the new innovation management?

How are responsibilities distributed?

What is the ideal innovation process for our company?

How can we create a uniform understanding of innovation and

How do you build a culture of innovation?

Innovation management plans.

A well-known phenomenon in many companies is "innovation on call". The customer notices a need and communicates it. But innovation can be planned. Thanks to strategic innovation management, you are one step ahead of your customers: With the help of past analyses and future trends, as well as the right network of experts, strategic search fields can be derived as part of a roadmapping process: concrete development projects for product, process, service, market and business model innovations.

Innovation management invents.

Groundbreaking innovations are rare and hard to find. But with the right methods, such as the LEAD User Method, which was created at the MIT Massachusetts Institute of Technology, and an extensive network of inventors, you can do what others would say "That never works! To develop breakthrough innovations with a high degree of novelty that satisfy the needs of tomorrow.

Innovation management markets.

An innovation is only considered successful when it has found acceptance on the market and has delivered the corresponding return. In order to prepare the market for the new products, innovation marketing measures are necessary: Attract interested parties, inspire them and turn them into customers.

Case Study Innovation strategy

"Innovation on call" - this well-known phenomenon can be observed in many companies. Because a large customer expresses special wishes. Because a new trend inspires everyone. Or because someone happens to have a "great idea". Someone who has a lot of persuasive power internally.

But innovation can also be planned.

read more

Case Study Innovation strategy

"Innovation on call" - this well-known phenomenon can be observed in many companies. Because a large customer expresses special wishes. Because a new trend inspires everyone. Or because someone happens to have a "great idea". Someone who has a lot of persuasive power internally.

But innovation can also be planned.

read more

Case Study Innovation strategy

"Innovation on call" - this well-known phenomenon can be observed in many companies. Because a large customer expresses special wishes. Because a new trend inspires everyone. Or because someone happens to have a "great idea". Someone who has a lot of persuasive power internally.

But innovation can also be planned.

read more

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5 steps how to implement innovation management

There are many different ideas and innovation opportunities for every organization. In order to systematically find and use them, innovation management is necessary to achieve maximum success.

Innovation is one of the most challenging management activities, not to say the supreme discipline, because 

Firstly, new products are handled with a high degree of uncertainty, risk and complexity, and the flop rates are correspondingly high.

Secondly, the innovation process a highly interdisciplinary change process that requires the cooperation and commitment of almost all areas of the company. If, like a chain, one link does not work, the entire innovation vehicle usually does not work.

 

Learn more about how to implement innovation management ...

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Implement innovation management
"With tailor-made innovation methods we support our customers in innovation management: from structuring and planning to inventing and marketing breakthrough innovations."
Michael Putz, Managing Partner

LEAD is your innovation partner

With our holistic approach, we accompany our customers through the entire innovation process - no matter which phase you are currently in - we take your innovation management to the next level.

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Learn how strategic innovation management can also help you plan innovations for the coming years.

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