Innovation management is the discipline that orchestrates the process of innovating from idea generation to product development and implementation. It comprehensively encapsulates a set of practices that foster an environment for innovative thinking and practical application of new ideas to enhance the organizational processes and introduce market-leading products or services. Effective innovation management requires proper strategic alignment, the application of appropriate tools such as brainstorming and prototyping, and continuous management of the innovation lifecycle to ensure that innovations are on time and meet market needs.
