THE FUTURE OF INNOVATION MANAGEMENT

In this era of fast-paced technological change companies are frequently forced to quickly bring innovative products or Services to a competitive marketplace to retain existing customers. In the meantime, successful innovation is the lifeblood of an organization and sustaining the innovation becomes a big challenge to all organization. So most of the so called innovative companies started to focus to manage their innovation for their future. Looking back is a natural as we look to learn lessons from past activity, similarly innovative organizations turn in to their past to know the main factors that lead them to succeed in their innovation journey and improvise those factors to manage their future innovations. The main factors that are mandatory are 1. Customer-centric innovation 2. Corporate Culture 3. Employee Motivation 4. New Business model 5. Transformational Leadership