Chapter 7 Perspectives on Innovation Management

Peet van Biljon

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Chapter 7 Perspectives on Innovation Management

Peet van Biljon
Peet van Biljon

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This chapter is in the book Innovation for Value and Mission

Chapter 7Perspectives on Innovation ManagementVolumes have been written about how to manage product development and inno-vation, and it would be unwise to even attempt to cover this expansive terrain inone book chapter. The approach followed here will not be to summarize the manyframeworks presented in dedicated works on innovation management, but rather toprovide the reader with a good top-level view of what innovation management is allabout, and what the main challenges are. There is substantial value in gaining sucha high level of understanding and an appreciation of the main principles involved(i.e., seeing the forest for the trees).Innovation lies at the intersection of several disciplines, all having to collaborateto generate value for multiple parties, and to fulfill the mission at hand. Innovation isexecuted at the strategic and the tactical level, and everywhere in between. Therefore,it needs various management structures and mechanisms across all organizationallevels. TheInnovation Management Map, a new contribution to the architecture of in-novation management introduced here, is an attempt to tie everything together in away that shows how the elements relate to one another.Innovation metrics will be introduced, and guidelines provided on their selec-tion and use. The importance of innovation governance and establishing clear deci-sion-making rights will be explained. The discipline of innovation management hasbeen maturing and is increasingly becoming codified. The latest internationalstandards for innovation management and the concept of an Innovation Manage-ment System will be introduced. The chapter will conclude with a section on thespecial challenges of managing innovation within the public sector.Note: For the purposes of this chapter, it will be assumed that the reader is familiar with thefundamentals of project management, including its basic terminology. If not, the reader shouldconsult authoritative resources on project management, such as thePMBOK®Guideby the Proj-ect Management Institute (2021),261or the latest edition of Harold Kerzner’s (2017) classic bookon project management.262The Essence of Innovation ManagementUltimately, innovation management is business management. Any innovation shouldbe seen as a new business in its own right. This means that all aspects of businessmanagement must be called upon to make an innovation successful. The constantcompanion of innovation is uncertainty, which makes innovation management muchmore challenging than managing most other business areas.https://doi.org/10.1515/9783110711066-007

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Chapter 7Perspectives on Innovation ManagementVolumes have been written about how to manage product development and inno-vation, and it would be unwise to even attempt to cover this expansive terrain inone book chapter. The approach followed here will not be to summarize the manyframeworks presented in dedicated works on innovation management, but rather toprovide the reader with a good top-level view of what innovation management is allabout, and what the main challenges are. There is substantial value in gaining sucha high level of understanding and an appreciation of the main principles involved(i.e., seeing the forest for the trees).Innovation lies at the intersection of several disciplines, all having to collaborateto generate value for multiple parties, and to fulfill the mission at hand. Innovation isexecuted at the strategic and the tactical level, and everywhere in between. Therefore,it needs various management structures and mechanisms across all organizationallevels. TheInnovation Management Map, a new contribution to the architecture of in-novation management introduced here, is an attempt to tie everything together in away that shows how the elements relate to one another.Innovation metrics will be introduced, and guidelines provided on their selec-tion and use. The importance of innovation governance and establishing clear deci-sion-making rights will be explained. The discipline of innovation management hasbeen maturing and is increasingly becoming codified. The latest internationalstandards for innovation management and the concept of an Innovation Manage-ment System will be introduced. The chapter will conclude with a section on thespecial challenges of managing innovation within the public sector.Note: For the purposes of this chapter, it will be assumed that the reader is familiar with thefundamentals of project management, including its basic terminology. If not, the reader shouldconsult authoritative resources on project management, such as thePMBOK®Guideby the Proj-ect Management Institute (2021),261or the latest edition of Harold Kerzner’s (2017) classic bookon project management.262The Essence of Innovation ManagementUltimately, innovation management is business management. Any innovation shouldbe seen as a new business in its own right. This means that all aspects of businessmanagement must be called upon to make an innovation successful. The constantcompanion of innovation is uncertainty, which makes innovation management muchmore challenging than managing most other business areas.https://doi.org/10.1515/9783110711066-007

You are currently not able to access this content.

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