Innovation Management refers to the systematic process of creating, developing, and implementing new ideas, products, or services within an organization. It involves the strategic oversight of innovation processes that drive improvements and growth. This includes identifying opportunities for innovation, fostering a culture of creativity, managing resources, and navigating the complexities of bringing innovations to market. Effective innovation management ensures that an organization can adapt to changes in the market, meet consumer demands, and remain competitive. It encompasses various activities such as idea generation, research and development, project management, and the evaluation of new concepts. Ultimately, innovation management aims to enhance an organization’s ability to innovate effectively and consistently, contributing to its long-term sustainability and success.
Toshiba is set to transform its research and development efforts by opening a new comprehensive research institute on April 1st. This institute aims to merge previously scattered departments, enhancing the…