The management of innovation is among the most critical capabilities contributing to the success of modern organizations. It is also complex and frequently misunderstood. In this paper we first provide a broad overview of the organizational innovation literature the Past to distill five fundamental themes: What is innovation, why is it important, where does it come from, who engages in it, and how can it be best executed? Second, we illustrate how these concepts are applied by three companies on the vanguard of innovation management the Present- Google, Walt Disney, and Johnson Johnson. Third, we project the discussion forward by considering key issues and emerging trends the Future of innovation management such as nanotechnology, ethical dilemmas, information technology, globalization, and sustainability. Fourth, we derive from the above analyses concrete guidelines for managers to leverage these insights and enable more effective innovation practices.
All Science Journal Classification (ASJC) codes
- Business and International Management
- Strategy and Management
- Organizational Behavior and Human Resource Management