Innovation Management Processes – Figuring Out the Right One

Innovation management is not just about generating new ideas, but also about implementing them effectively. Various processes can be used, including push vs. pull, phase-gate, and lean startup. Push-based models rely on internal R&D and technology, whereas pull-based models take into account market demand and customer feedback. The phase-gate process has been used for product innovation since the 1940s and involves assessing ideas at predetermined stages or "gates." The lean startup model focuses on finding the "product market fit" as quickly as possible through customer research and early feedback. Choosing the right innovation management process depends on various factors, such as the nature of the business and existing organizational culture.