Every company wants to be innovative. In many instances, information technology plays a crucial role in enabling innovation initiatives. Unfortunately, there’s no standard formula or framework for managing technology-driven innovation within a commercial enterprise. Every company has to establish methods of identifying, vetting, selecting and implementing innovation opportunities that are effective within the context of their business model, management practices and corporate culture.
Commercial enterprises generally have equal access to new technologies. Their ability to exploit new technology is limited only by their financial resources, internal skills and corporate imagination. Companies that achieve competitive advantage through the use of new technology on a continuous basis have overcome these limitations and found effective ways of managing their innovation pipelines.
Read More from This Article: IDG Contributor Network: Managing your innovation pipeline
Source: IT Strategy