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.
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 management activities in an organization, where the change is a novel or unprecedented departure from the past (Hargrave & Van de Ven, 2006; Van de Ven & Poole, 1995: 512). Innovation never dies be it a Banking Sector or a service industry innovation is the key requirement of 21st century markets and organizations, or in Cooper words , “Its War: Innovate or die”.
Motivation & Purpose
Innovation is something which have been inculcated in me since childhood by my household. At every new stage of my life I polished my innovative skill to understand its cause and effect. And 25 years down the line I still fantasize it. The way I see innovation is something as new as a dew drop yet as ripe and serene as a million year old sandalwood tree. The main purpose of choosing this topic for my research work is to understand it in a structured way. To put forth the ideas and knowledge I gain in the way that is most easily understood by everyone who has been in my place, or will be, in some point of time. The best enemy of a man is man himself and hence the best teacher of a man is also he himself again. This was the very idea that struck me while I was choosing a topic for my research. How could I understand innovation? A Topic which I have been trying to comprehend since a very long time now without asking myself and being my own teacher and my own student.
The way of applying innovation in and organization is entirely different than applying innovation in college, school and day to day life. Innovation at work have different impacts than innovation at home. Hence channelizing innovation according to the prime goal of the organization is the key strategy and need of the hour. Innovation in raw terms doesn’t understand any boundaries and hence is usually unharnessed as it only gives an intellectual satisfaction to an individual. If the innovative ideas of an individual could be channelized to realize a public goal the realized foundation and scenario...
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