There are several key steps involved in developing an Innovation Management First, the organization needs to identify the key drivers of innovation. customer needs, new technologies, or changes in the regulatory environment. Once these drivers have been identified, the organization needs to assess its current capabilities and determine which areas need improvement. This could involve investing in new technology, hiring new talent, or developing new processes.
Once the organization has identified the key areas of focus, it needs to develop a roadmap for Innovation Management. This should include specific goals and objectives, timelines for achieving these goals, and metrics for measuring success. The organization also needs to determine how it will allocate resources to support innovation initiatives. This could involve investing in new equipment, hiring additional staff, or partnering with other companies to leverage expertise and resources.