Difining the innovation process Management Coursework

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Structured innovation
A structured innovation process in an organization can help in the achievement of many useful milestones that will ensure products remain viable over the long term. As much as innovation implies creativity and flexibility with little to no constraints, it still requires structures and systems that will enable the organization achieve some notable goals.
First, structured innovation enables an organization to define and pursue its objectives in an organized manner. Objectives are the targets that the organization hopes to achieve in producing a new innovation that has an impact on the target market. For example, a car company can set the objective of designing the most fuel efficient vehicle on the road. This objective will not only inform its design, it will seep into the budget for the design process, the marketing campaign that will accompany its promotion, the target markets where the car will be appreciated, etc. A structured...