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INNOVATION MANAGEMENT
This process of management can only happen if a company is able to gather four key
pillars: competence, structure, culture and strategy.
The company core competences must include the ability to direct and organise itself to
market solutions by, for example, working with external partners and stakeholders,
maximise the value of its resources, being able to set SMART goals and implement
actions to control progress and achieve goals. In this sense, the company needs to be
grounded in a solid structure.
A growth mindset is also important to innovation management. This type of culture is
characterised by a continuous learning attitude together with a learning by failure
posture. Adding to this is meritocracy (the best idea is rewarded) and an attitude of
‘being the first idea to get to the market’. Supporting all this, a clear and realistic
strategy that is both goal and action oriented.
