Innovation management success factors - How to prevent failures

Innovation management involves various projects such as product and service innovations, process innovations, and digital business models. However, companies face challenges in executing such projects due to barriers such as forgetfulness of agreed deadlines and lack of motivation. To overcome these barriers, five success factors have been identified: inventing unconventional ideas, seeking knowledge from outsiders, motivating and inspiring innovation teams, setting clear milestones, and sharing best practice examples. Innovation software such as Innolytics® can promote a culture of innovation by providing employees with access to past knowledge and the space to develop new ideas and projects.