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Innovation Management: What it actually means?
Innovation management puts in place the structures, processes and culture needed to generate, select, develop and scale new products, services or business models. Consultants clarify innovation ambition, define governance and funding, set up idea pipelines, and link innovation to customer and market insight. They may also introduce partnerships and venturing where internal development is too slow. This is critical in markets facing rapid technological or regulatory change. A disciplined approach to innovation increases hit rates and ensures effort goes to ideas with real commercial potential.
