Innovation – Innovation Management – Innovation Strategies

Do you know what  innovation is and why it is important?

Innovation is the process by which from an idea, invention or recognition of a need is developing a product, services or techniques to be useful and commercially accepted.

According to this concept, innovation is simply the process of developing something new or is not known as a methodical study of the need, whether personal, group or organization, to achieve an economic growth goals. This means that innovation generates ideas that can be sold in a specific market.

To innovate we need a broad knowledge of a necessity, not all ideas are successful, it is therefore necessary to play with all the tools necessary for innovation to be successful and completive in the market place. But then what is management innovation? Innovation management is nothing more than the steps or strategies that continue to get a dramatic result: innovation.

Why is innovation important

There are many ways to manage innovation. Is the first to be defined because to establish a clear objective and what the impact is expected? All this helps define the kind of innovation that we want to achieve.

Why is innovation important?

Innovation is the key element that explains the competitive” Innovation and competitiveness go hand in hand, but not necessarily exist without the other. Moreover, innovation is linked to all levels of competitiveness of the pyramid and can be applied to any of them. However, it can be competitive not only with innovative systems to maintain continuous improvement, but improvement processes do not become enough if the market is saturated, when demand is high and when there are needs that existing products or services cannot afford. At this point, innovation becomes a key process to achieve competitiveness, given that efforts to improve have reached their limit and are no longer enough to keep going.

But you have to understand that innovation by itself does not necessarily ensure that competitiveness is reached. Methodologies should be established and defined innovation strategies to be able to innovate. Perform a study of the factors involved in the process of innovation and opportunities in different scenarios, basic tools will be provided. If not properly planned innovation can lead to failure, therefore the risk must be that innovation brings. It is important to keep in mind that to innovate, a company must draw from the experience it provides for well-planned strategies in a sense. Experience comes into play when it comes to capturing new markets or enhancing existing ones.