Abstract:
This paper discusses the meaning, value and role of innovation and the ways to manage it.
The need, necessity and origin of innovations are briefly discussed and contours the different perspectives of the Innovation Management. The various processes of Innovation management are also highlighted drawing special attention towards the overall need of each process and factors affecting the same. In this paper an attempt has been made to conceptualize the need of managers’ understanding towards the imperative need of innovation at workplace. By doing so a contribution to the organizational overview on the direct interplay between innovation and projects has been drawn.
Introduction
For a long time Man has ruled this earth and for a long time more man has tried to understand innovation and the rules to manage it, but in vain. Some say “necessity is the mother of invention”, however can necessity be channelized to have a structured invention rules? This question might not have haunted anyone the days when man was just an ape or just 20000 years old on this earth, but this question has definitely left many befuddled over the last few decades, what we in this modern world call as Innovation Management.
Many significant works done so far might not be able to clarify the questions which I have posted, however they definitely give a perception of what it could have been and what it shall be henceforth. Need of innovation management in different stages of Man’s life and the ways to channelize and structure it for its best purpose known “GROWTH” is something worth the effort.
The term Innovation has been taken from the Latin word “novus” which means new. Some people perceive it as an idea or in materialistic terms invention or new product.
Innovation represents a particular form of organizational change. In its broadest sense, then innovation management can be defined as a difference in the form, quality, or state over time of the