Innovation Management is the study of planning, creating, and supervising new products, internal processes, and organisational trends that support the growth and financial stability of a company. Innovation Management involves discovering new niches, trying different markets, imagining new services and technologies, testing breakthrough corporate practices, establishing brand extensions, and foreseeing market trends.
Innovation Management overlaps with other Business areas, like Marketing, Sales, Business Intelligence and Analytics, Project Management, Quality Management, IT, and Human Resources (HR).
Students can choose from different specialisations: Management of Information Systems and Digital Innovation, Enterprise and Innovation Management, Technology and Innovation Management, Entrepreneurship and Innovation, Global Innovation Management, and others.
A typical Innovation Management curriculum includes subjects like Technology Concepts, Design and Manufacturing Management, Innovation Strategies, Creative Thinking and Reasoning, Impact of Globalisation, Product Analysis, Conceptual Design, Idea Visualisation, Design Research, Value Creation, etc.
Examples of careers in innovation management include product manager, strategy consultant, business analyst, operations manager, business development specialist or CEO. Innovation managers typically have strategic positions in corporations, IT firms, governmental agencies and financial institution. They may also practice in the investment-banking field, or may choose consultancy positions, as well as careers in research or academia.Read more