The Need for Innovation Management Structure

The desire for innovative competitiveness is nearly universal. Unfortunately, no well-accepted procedure to manage and continuously improve innovative processes exists. This paper introduces the concept of structured Innovation Management as an effective, efficient, and easy-to-use methodology that facilitates continuous improvement of innovative processes. The conclusion is that successful Innovation Management requires process specialization for project and proposal management, as well as a dedicated project team to consistently, and accountably, manage the innovative potential of uncertain new ideas.