Review and Evaluation of the Literature:

The innovation management can be considered as the management techniques of the processes used for the innovation. Changes which are made to the management are also considered as the part of the innovation management. The innovation management is related with the business process and with the product of the organization (Volberda, Van Den Bosch and Heij 2013). The innovation management is actually a set of tools which are generally used by the engineers and by the managers to corporate with the goals and the processes of the organization. This innovation management is able to help the organization to provide responses in various organizational opportunities. This opportunities can be external or internal. Also, using the creativity of the innovation management new ideas, products and processes can be introduced (Havlí?ek, Thalassinos and Berezkinova 2013).

In this essay a brief description about the innovation management will be given for the organizational factors. Considering the organizational factors this essay will describe how the innovation management is able to contribute to the organization to lead the organization toward the path of the success.

To describe the importance of the innovation management in the case of the organizational success some specific criteria of the innovation management will be discussed. To describe the contribution of the innovation management in the case of the organizational success, strategic management in the context of the innovation will be described. With that, how the innovation management produces impact on the organizational culture will be evaluated critically. Also, the strategy of the innovation management for the stakeholder satisfaction will be described. Following the above scenarios how the disruptive technologies impacts on the innovation management techniques will be evaluated thoroughly. Also, the problems in the innovation management will be discussed deeply in this essay.

Role of Innovation Management in an Organization:

The innovation management provides very much importance to the organization in the sense of providing the competitive advantage in the market (Hislop, D., Bosua, R. and Helms, R., 2018). This competitive advantage is gained by implementing the innovation management tools which is the Business Creation tools. In the business creation tools there are various types of tools are available. To gain competitive advantage over the others particularly business simulation tools has been used. This tool simultaneously simulate the future outcome and provides a general idea of future outcome. The innovation management actually helps a company or an organization to uphold its competitiveness nature for the future. To maintain the competitive nature of the organization, process improvement tools are used. In the process improvement tools the benchmarking tools are used for benchmarking the performance of the employees and the organization. Providing a benchmark score and comparing it with the other employees and organization will create a completive nature among them. A good implementation of the innovation management will help the organization or the company to generate a high amount of profit which will help the organization to gain a vast competitive advantage over its market competitor (Urbancova 2013). Also, a bad implementation of the innovation management will lead the organization to face losses in the business as the offerings to the consumers of the product will be obsolete.

Role of Innovation Management in an Organization

A good innovation management will always consider into three main areas (Goffin and Mitchell 2016). The three main criteria are the capture of the value generated from the innovation, providing or presenting an environment which will be conductive to the innovation and lastly generating appropriate portfolio which will be helping in the innovation process.

The strategic management can be described or considered as some complex set of management strategies (Hill, Jones and Schilling 2014). The main aim of implementing the strategic management is to creating strategies which are practice efficient and providing better adaption of the organization to the environment of it. Also, it helps to achieve the strategic goals of the organization. The implementation of strategic management will help to anticipate the changes which are most important to the organization. The requirement of the strategic management is very much important for the innovation management as this type of process are generally complex in nature (Eden and Ackermann 2013). To manage this complexity the implementation of the innovative ideas are needed. The strategic innovation management helps the organization to be focused on transforming the traditional profit generation process into an innovative organization which will be favourable in the market for new creations, experimenting and for implementing new ideas (Wheelen et al. 2017). In this case the innovation management helps to give better output of the products. The innovative products are produced using the innovation management by following three steps. These three steps are the system inputs, processing and system outputs (Volberda, Van Den Bosch and Heij 2013). In the system inputs individuals and groups of innovative organization give their inputs in the system. In the processing part the process of the innovation has been done. The output of the system provides an innovative product in the market. Thus it will lead the organization in the way of perfection which includes the area of implementation of new innovation.

The innovation management can be described in a systematic point of view (Drucker, P., 2014). The concept of the innovation not only affect the organization but it is also capable to affect the other organisational concepts like the product quality, TQM, performance, knowledge management, information system adoption and the job satisfaction. In the case of the strategic management this innovation management also helps to managers of the project to determine the factors which are facilitative factors of learning. Also the evaluation of the innovation in the firms is assessed. This concepts helps to develop the organizational innovation for the selected firms. The innovation management helps the organizations to survive among other firms. The nature of the innovation management is very much complex (Eden and Ackermann 2013). This is the only drawback of the innovation management. Still, the innovation management is used for develop various types of normative methods. This normative methods are very much helpful for the success of an organization. Thus actually the innovation management indirectly helping towards the success of the organization.

The innovation of an organization is also depends on the culture of the organization as the organizational culture also plays a big role in the success of the organization. Many analysis of the data determined that the radical innovation is not able to exhibit the different types of organizational culture. It is assumed that the effects of the culture on incremental and radical innovation are actually the same. The innovation value as the organizational end and the other values which are conductive to the innovation is able to lead the culture which will be able to support different types of innovation (De Medeiros, Ribeiro and Cortimiglia 2014). This is actually true because high degree innovation of newness can be considered in this case rather than the expectations. The interpretation of the culture which is present constantly as an underlying factor is compatible with the adoption of the innovation partially. Thus the factor of the organizational culture is having a vast effect on the innovation management which is required for the organizational success.

Contribution of the Innovation Management for an Organizational Success

Providing an experimental environment to the employees will help the organization to develop an innovative products and ideas as the employees will be freely doing the experiments without having any pressure on them (Choi, Seo and Kim 2014). Providing an extra training for the development of the employees in the organizational culture will help the employees to learn new things. Thus the employees will be capable to experiment about new things in the organization and by that the innovation in the organization can be achieved. The processes of the organizational culture helps the employees to take new ideas from the broad source which helps to introduce more versatile innovative ideas to the organization (Hogan and Coote 2014).

Describing the impacts of the organizational culture on the innovation of the company it can be stated that the innovation oriented culture is an element of the organizational culture of the organization. This innovation oriented culture includes the motivation which is innovation oriented, quality and style management and the innovative competence (Wynen et al. 2014). The innovation oriented culture can be defined as the requirement of most number of innovative ideas which can appear in a certain amount of time period. The innovative organizational culture can create, establish and develop attitudes and values within an enterprise firm. This can bring improvements in functions and in the efficiency of the firm.

Though this innovation management has basic risk factors related with it, still it is capable to actively contribute for the organizational success. Innovation can bring improvements to the products and services of the organization thus it can help to improve the customer relationship and the sales of the product (De Medeiros, Ribeiro and Cortimiglia 2014). Innovation in an organization can bring shorter way or an advanced way to do a same task. The innovation management provides an experimental environment in the organization. Thus the workers are able to work on a product freely. So, they can also implement their own idea to improve the product. Thus an innovative product can be produced. This new innovative product will increase the value of the organization. By this is contributing in the success of the organization.

New successful strategies for the innovation helps the organization to achieve its desired targets in the marketplace. While innovating new ideas successfully the organization gets a competitive advantage in the market which helps the organization to generate more revenue (Wagner III and Hollenbeck 2014). In this case a successful innovation of new techniques or new products will provide benefit to the stakeholders. Thus it will provide the satisfaction to the stakeholders of the organization.

The innovation for an organization is also depends on the capacity of the technological things of the organization. This capacity of the technological things are related with the set of resources stock which are totally based on the technological knowledge. In many of the cases the organizations derive or develop the technological learning mechanism. The speed of developing the technological learning mechanism has an impact on the competitiveness of the organization on the market. Capability of this technological things are developed within a specific organizational context (Sears and Hoetker 2014). In this case the model of the innovation also includes various new stakeholders. While it is including new stakeholders, it need to be ensure that the satisfaction of the stakeholders are maintained. Dissatisfaction of the stakeholders can decrease the value of the organization. Thus the satisfaction of the stakeholders has helps to fulfil the strategies for the innovation management which is an important factor for the organizational success.

Describing the above arguments implies that the stakeholder friendly policies is the main reason for the stakeholder satisfaction and for the positive attitude for them (Flammer and Kacperczyk 2015). When the stakeholder satisfaction is having the positive influence on the innovation factor, it can be expected that the catering to the non-financial stakeholders will be much more effective in industries which are consumer focused. It can be also expected that the stakeholder orientation will help the factor of the innovation by providing the natural environment to the workplace which will improve the stakeholder satisfaction. Stakeholders are important because they are the integral part of the organizational process. Proper innovation management helps to increase the stakeholder satisfaction. Increased stakeholder satisfaction means more value to the project of the organization. Thus this innovation management increasing the overall value of the organization and contributing in the success of the organization.

The disruptive technology are the technologies which are used for the altering the process of the business. This technologies are used for altering the business approach of a company. The recent disruptive technology examples are the e-commerce and the smartphones (Fan and Suh 2014). This type of the disruptive technologies are used by some risk taking companies. This disruptive technologies are implemented by these type of companies to target new markets and incorporate their business process in the targeted market. The disruptive technologies also have some negative sides also (Brummer 2015). This technologies can be the reason of losing the market share. In the present situation the disruptive technology is not offering better than the current market offering and it can probably damage the total economy of the market (Wilson 2014). As an example the e-commerce can be considered. The e-commerce has disrupted the market economy by giving the consumers opportunity to buy products online rather than offline. Thus the offline market totally disrupted. This is very much helpful for the consumers the implementation of the disruptive technology increases difficulty for the producers in the market.

The innovation management consists some problems in the system. According to the Havlí?ek, Thalassinos and Berezkinova There are some problems in the innovation management which will be discussed in the following section.

The first problem can be considered as the human problem which is related with the managing the attention. Majority of the organization follows the design which includes the focus, harvest and the protection of the existing practice in the organization (Goffin and Mitchell 2016). Development of new ideas is not followed by this type of organization. It is very much difficult for the more successful companies to implement the innovation management.

The second problem with the innovation management is the human physiological tendency. For the case of a normal human being they are not likely going to be pay attention to the implementation of the new ideas, opportunities and needs. Thus a major problem occurs in the implementation new innovative ideas (Drucker 2014).

In the third case there is a structural problem in the innovation management. While implementing a new idea, various type of individuals involved in this case. For this reason conflict can occur in the relationships of the organizational employees which is another big problem (Rice 2013).

Finally there is another problem which is the strategic problem in innovation management of the institutional leadership. Innovation management can transform or change the industrial and organizational arrangements (Hill, Jones and Schilling 2014). For this reason strategic problem can arise.

Conclusion:

From the critical review of various types of articles it can be concluded that the main roles of the innovation management in the organization is solving various type of complex relation which are related with the research and development innovation. The main purpose of it to place the task innovation in a central type of role which will control the management of the organization. From the above discussion it is assessed that the innovation management successfully contributes in the success of an organization. This successfully contributes in the organizational success by introduction of the new types of innovative products. This new products provides value to the organisation which is a basic step of the organizational success. Moreover this innovation management creates a productive working environment for the employees which leads to more productive organisation and a good working environment helps to retain the employees of the organization. Thus it increases the stakeholder satisfaction and organization becomes stronger which is another success of the organization.

References:

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