Innovation Management refers to the systematic process of managing an organization’s innovation strategy, which includes the creation, development, implementation, and evaluation of new ideas, products, services, or processes. It involves fostering a culture that encourages creativity, collaboration, and experimentation while balancing risk and strategic objectives. Innovation Management encompasses the identification of new opportunities, research and development, and the optimization of resources to enhance innovation outcomes. The ultimate goal is to improve competitiveness, drive growth, and respond to market demands effectively by integrating innovative solutions into the core operations of the organization. This practice may involve various techniques, frameworks, and methodologies aimed at transforming innovative concepts into tangible results.
Toshiba is revamping its research and development structure by merging its technology division with energy and infrastructure R&D teams. A new Comprehensive Research Institute will launch on April 1, involving…