Innovation
Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention. Innovation often manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
Innovation Management
Innovation management is a combination of the management of innovation processes, and change management. It refers both to product, business process, and organizational innovation. Innovation management is the subject of ISO 50500 series standards developed by ISO TC 279.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Innovation
Successful innovation has consistently proved to be fluid and flexible, fast and furious — that is, passionate.
Robert Heller. ‘Business strategy: the lessons of the 'big ideas’, 30 Jun 2009, in his blog, Thinking Managers, on, management-issues.com website.
Management
Poorly managed corporations, disorganized businesses, and badly led service agencies experience crisis daily and most will eventually fail. In contrast, the danger is to well organized, smooth running institutions that may not recognize a building crisis. Too often, sound organizations rely on their normal modus operandi to pull them through a crisis. It might. But at what cost? And what if it does not pull them through?
Wheeler L. Baker, Crisis Management: A Model for Managers (1993), p. 6
