Successful Innovation Management: Approaches, Role, and Impact on Global Business

Innovation
management

Abstract
The current assignment is based on the topic of successful innovation management which
comprise of a discussion about the critical approaches of innovation consist of disruptive
innovation theory, sustain innovation approach and radical approach of innovation. Further, an
analysis of crucial role of innovation in leading enhanced competitive strength and other positive
impact on global business are also evaluated. Beside this, a discussion about the research
methodology for leading and conducting a secondary research work comprise of Positivism
philosophies and deductive approach is also included to lead a more systematic and better insight
on selected topic. At last, critical analysis of findings along with valid conclusion and
recommendation also form a part of current assignment.

Table of Contents
Abstract............................................................................................................................................2
Theme: Successful innovation management (Global Examples)....................................................1
INTRODUCTION...........................................................................................................................1
Literature Review.............................................................................................................................1
Approaches for innovation management.........................................................................................1
Critical understanding on managing innovation and technology transfer..............................1
Role of innovation and its impact on global business............................................................3
Research methodology.....................................................................................................................4
Research approach..................................................................................................................4
Data collection method...........................................................................................................5
Data analysis method..............................................................................................................5
Related questions.............................................................................................................................5
Findings............................................................................................................................................6
Critical evaluation of findings.........................................................................................................7
Strategic, tactical and operational challenges in establishing a viable innovation management
culture.....................................................................................................................................9
Conclusion and commercially viable solution...............................................................................10
REFERENCES..............................................................................................................................13

Theme: Successful innovation management (Global Examples)
INTRODUCTION
Innovation management is mainly associated with the process which encompasses all
suitable measures and resources to promote and use innovation within an organisation.
Innovation management is basically comprises of a set combination of innovation practises and
change management that aim at coming up with new and more creative ideas and business
processes (Singh and Gaur, 2018). Thus, innovation management is important and vital for a
business organisation as it lead to development and creation of new and improved products along
with more efficient and effective business operations (7 Reasons Why Innovation is Important,
2020). For current report the orgnisation selected is Aston martin which is well know automotive
brand dealing in luxury sports cars and other vehicles. Aston martin is a company which makes
regular innovation and modification in its cars and design to avail the benefits of innovation in
product. This particular assignment comprises of a discussion about the approaches of innovation
management along with determining its role and impact on global business. Further, a critical
evaluation on the implication of approaches of innovation management is also included in this
report along with identifying the key strategic, tactical and operational challenges in establishing
a viable innovation management culture. At last, a discussion over the commercially viable
solution and recommended strategies for successful innovation management is also forms part of
current assignment.
Literature Review
Approaches for innovation management
Critical understanding on managing innovation and technology transfer
It is vital and essential for all global business organisation to understand the need and
importance managing innovation and technology transfer as it brings relevant amount of
creativity and modification in their product and services to remain more competitive and
successful in their business environment (Kasemsap, 2017). Thus, to ensure viable innovation
management and lead efficient technology transfer a number of theories and approaches of
innovation management are adopted by global business. Some of theses theories and approaches
of innovation adopted by global business organisation are discussed and evaluated below:
1