Innovation Management Footprint in a Technology Organization

A Product Research and Development center thrives on its potential to develop quality products and adapt to the technological advancements while delivering the market needs. At present, many industries are revisiting their business strategies to withstand the fast-paced growth in globalization and technology, specifically due to the revolutionizing digital world. Hence, the future of such R&D hubs depends upon their survivability in this hyper-change period. Innovation Management System is the important framework that boosts their survivability and thus, ensures business success. ISO56002 Standard: Innovation Management System, guides the organization to determine their vision, objectives, success factors and strengthen their processes and operations to achieve the planned business goals. The organization’s innovation management system comprises of their business Strategy: Goal, Vision, Product Innovation, People: Leadership, Competence, Culture and, Operations: Planning, Process, Quality. In this paper, a case study has been presented on Innovation Management Practices and their adherence to the ISO56002 standard from the perspective of an R&D organization in all the dimensions listed in the standard. The Paper discusses in detail regarding the framework, business impact, improvement analysis to ensure the efficiency and effectiveness of the Innovation Management.