Essay from the year 2018 in the subject Business economics – Business Management, Corporate Governance, grade: A-, University of Nairobi, language: English, abstract: Innovation management can simply be defined as the management of all innovation process activities. In other words, it includes front-end and invention of thoughts, basic and applied research. Furthermore, innovation management is drawn in, in the market introduction not to mention, it includes every innovation support function, for instance, management of the human resource, finance and accounting all related to innovation activities. Innovation management process is abundantly characterized by a high degree of convolution simply because of reservations of the involved actors as well as vital issues. Subsequently, this explains why innovation management process creates high demands on social, practical and methodical capabilities of the management. Therefore, this paper aims at exploring the processes recommended for innovative firms and show what firms should do to encourage innovation. Again, it will explain what firms should do to avoid stifling innovation and show how they can maintain innovation as a core goal.
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