Evaluating the need to innovate and then managing the opportunity such that the benefit is grabbed for the business is all about innovation. Market, organization and technology integrate together for the purpose of innovation (Conway & Steward, 2005). Throughout this course, we have learned different aspects about innovation and I believe this course has broadened our vision towards what success means in the organization. I don’t find even a single topic irrelevant or less important in this course; from the very beginning where the innovation is being defined till the end of the course, all material has enlightened my vision. I think that the most critical thing is to understand that innovation needs to be based upon strategy; it must form a clear link with the internal and external environment; it is all about bringing about a change; and the whole organization must support this change (Conway & Steward, 2005). The world of business is highly dynamic due to the emerging markets and the globalized economy; innovation is the key to sustain in this highly competitive environment. And businesses must create a learning culture in the organization so that changes can be understood and easily implemented. Change and innovation depend on learning and support from the organization. From all the course, the most critical is innovation auditing; it is kind of the gist of the whole course; it the implementation of the concepts learned earlier. The audit provides a framework that enable assessing the management of innovation in the organization (Conway & Steward, 2005). It helps by indicating subjective judgments for the management of innovation. I guess all these concepts are a must to be applied in my organization as they are in a sequence that must not be broken. Starting from making an innovative strategy and encouraging a learning culture in the organization; the process is completed when an innovation audit is conducted as it would help us to identify whether the innovation was successful or a failure.
Conway, S., & Steward, F. (2005). Managing innovation (1st ed.). Oxford [u.a.]: Oxford Univ.