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Abstract:
Innovations as well as innovation management are essential prerequisites for the competitiveness and profitability of companies. In order to create successful innovations, the innovation management process has to consider many aspects. There are internal aspects like strategic orientation, climate of creativity and structured process management as well. External aspects can be derived from environmental screening and trend monitoring. This article is an analytical and conceptual paper. The research question is about the adequate management of innovation process. First the importance of innovations for companies and nations is proven through statistical data. On the basis of critical literature research, various innovation management processes have been examined. Issues in common are pointed out and critical aspects are derived. In chapter 5 we point out trend monitoring, customer integration and supplier integration. The specific contribution for academic discussion is twofold: Firstly the necessity of a well-structured process for innovation management is pointed out. Secondly, there is a recommendation given to companies to overcome problems from outside (trend monitoring) and to use external resources (integration) from customers and suppliers.
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