What is innovation management?

Innovation management is a combination of interrelated knowledge, actions and decisions on modern management, which is designed to form and develop innovative and technological progress.

Formation of the concept of innovation management

The basic principles of a scientific approach to management were formulated in the first half of the twentieth century. This is, firstly, the presence of an action program. Secondly, material and social organization. Thirdly, this is management. The administration should be well aware of its staff, familiarize itself in detail with the contracts concluded between the organization and the worker, regularly inspect the enterprise, and consult with key employees on the most important issues. The fourth principle is coordination, which ensures coordination of actions of all structures of the organization.