What are Innovation management critical success factors Research Paper

What are Innovation management critical success factors - Research Paper Example Breakthroughs rarely survive without a strong and working decision making model. This model should differ with the model used in incremental innovation (Soni, 2009). It has become increasingly clear that old models rarely work (Trott, 2005). Technology dependent decision making systems have the weakness of failing to engage the vital stakeholders. Automation in decision making causes consensus to be hard to obtain (Aledda, 2010). Therefore, a health decision making system seldom works without a champion who can engage teams and make decisions to enhance mutual progress. Successful organizations that are known to drive innovation in their projects have a blind commitment to the consumer tastes and preferences (Aledda, 2010). They are known to have a slave like dedication to the concerns of the consumers. Innovation management demands that high quality marketing plans and action to be taken with an aim have a higher rate of success with it come to consumer response (Albers, 2004). Market studies show that such products are blessed with double success rates and over 70 per cent high share in the market than those with poor marketing strategies (Palthe, 2006). Therefore, marketing has a place in the management of innovation (Afuah, 2003). A strong customer focus and marketing orientation is noticeably lacking in the modern business conduct what new products launch. Delivering a differentiated product with unique customer benefit with a strong appeal to clients is one of the success factors in innovation. Superior products have a significant influence i n the management of innovation (Morel & Hosni, 2005). It is said to meet customer need in a better way compared to ordinary non competitive products. Superior products have a high success rate and stronger appeal to customers unlike products that lack this ingredient. Not many firms can point to the facets of the new products that show uniqueness of their new products