Innovation Management (Business Toolkit)

INNOVATION MANAGEMENT TOOLKIT

Innovation Management is the process of managing and coordinating the activities and resources that are necessary for an organization to develop and implement new ideas, products, and services. This can include identifying and prioritizing potential opportunities for Innovation, developing and testing new ideas, and implementing and scaling successful Innovations.

Innovation Management is a critical function for organizations that want to stay competitive and adapt to changing market conditions. In the Digital Age, this has become increasingly important.

There are several reasons why Innovation is important for organizations of all sizes. First, Innovation can help organizations to improve their performance and efficiency. By developing and implementing new technologies, processes, and products, organiztaions can increase their productivity, reduce waste, and improve the quality of their products and services. This can help organizations to operate more efficiently and effectively, and can support their long-term growth and success.

In addition, Innovation helps organizations differentiate themselves from their competitors. By developing and offering unique and innovative products, services, and experiences, organizations can create value for their customers and set themselves apart from their competitors. There are many approaches to bolstering Innovation, such as pursuing Open Innovation, Business Model Innovation (BMI), and Corporate Entrepreneurship. These Innovation models help organizations attract and retain customers; built an ecosystem of Innovation partners; and create a strong, sustainable Competitive Advantage.

Furthermore, Innovation can help organizations adapt to changing market conditions and customer preferences. By continuously developing and testing new ideas, organizations can stay responsive to the needs of their customers and the broader market. This can help organizations to remain relevant and competitive—and to capitalize on new opportunities as they arise. With the recent COVID-19 pandemic and other disruptions, such as with global Supply Chains and the Russia-Ukraine War, many organizations have been forced to innovate or perish.

Innovation Management is an essential function of any successful, competitive organization. By investing in Innovation and managing the Innovation process effectively, organizations can improve their performance, differentiate themselves from their competitors, and stay responsive to changing market conditions.

For more information, have a look at these management topics:

CUSTOMER TESTIMONIALS

"As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value."

– David Coloma, Consulting Area Manager at Cynertia Consulting

"I have found Flevy to be an amazing resource and library of useful presentations for lean sigma, change management and so many other topics. This has reduced the time I need to spend on preparing for my performance consultation. The library is easily accessible and updates are regularly provided. A wealth of great information."

– Cynthia Howard RN, PhD, Executive Coach at Ei Leadership

"Flevy is now a part of my business routine. I visit Flevy at least 3 times each month.

Flevy has become my preferred learning source, because what it provides is practical, current, and useful in this era where the business world is being rewritten.

In today's environment where there are so many challenges and there is the need to make the right decisions in a short time, with so much scattered information, we are fortunate to have Flevy. Flevy investigates, selects, and puts at our disposal the best of the best to help us be successful in our work."

– Omar Hernán Montes Parra, CEO at Quantum SFE

"As a young consulting firm, requests for input from clients vary and it's sometimes impossible to provide expert solutions across a broad spectrum of requirements. That was before I discovered Flevy.com.

Through subscription to this invaluable site of a plethora of topics that are key and crucial to consulting, I have been able to exceed expectations and deliver quality advice and solutions to my clients. The quality and expertise of the authors are exemplary and gives me great confidence to use as part of my service offerings.

I highly recommend this company for any consultant wanting to apply international best practice standards in their service offerings. "

– Nishi Singh, Strategist and MD at NSP Consultants

"One of the great discoveries that I have made for my business is the Flevy library of training materials.

As a Lean Transformation Expert, I am always making presentations to clients on a variety of topics: Training, Transformation, Total Productive Maintenance, Culture, Coaching, Tools, Leadership Behavior, etc. Flevy usually has just what I need to make my point.

It is well worth the money to purchase these presentations. Sure, I have the knowledge and information to make my point. It is another thing to create a presentation that captures what I want to say. Flevy has saved me countless hours of preparation time that is much better spent with implementation that will actually save money for my clients."

– Ed Kemmerling, Senior Lean Transformation Expert at PMG

"My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success."

– Bill Branson, Founder at Strategic Business Architects

"As an Independent Management Consultant, I find Flevy to add great value as a source of best practices, templates and information on new trends. Flevy has matured and the quality and quantity of the library is excellent. Lastly the price charged is reasonable, creating a win-win value for the customer, Flevy and the various authors. This is truly a service that benefits the consulting industry and associated clients. Thanks for providing this service. "

– Jim Schoen, Principal at FRC Group

"[Flevy] produces some great work that has been/continues to be of immense help not only to myself, but as I seek to provide professional services to my clients, it give me a large "tool box" of resources that are critical to provide them with the quality of service and outcomes they are expecting."

– Royston Knowles, Executive with 50+ Years of Board Level Experience

SELECT CUSTOMERS

Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes across the world—in over 130 countries. Below is just a very small sample of our customer base.

Did you know?

The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.