Global Innovation Management - MIT ID Innovation
                     Global Innovation 
Management: 
Definition, Strategy, 
Examples
MITID Innovation
Definition
The term global innovation combines two 
broad concepts of business. Innovation is a 
familiar concept that has many branches 
growing underneath. It includes 
technological innovation, organizational 
innovation, market innovation, business 
model innovation, etc. Management, on the 
other hand, is closely related to companies. 
It is the coordination of tasks and activities 
within an organization.
So, global innovation management is a 
structured process that generates, captures, 
discusses, and improves a valuable site or 
alternative thinking. Apart from that, this 
process also organizes, evaluates, and 
prioritizes these ideas that would have 
otherwise come out as normal procedures.
Innovation is considered the brainchild 
behind the success of any business. The 
best way to do this is by crowdsourcing 
innovation from teams working within the 
organization.
Importance of Global Innovation 
Management
The activity of crowdsourcing innovation 
has made its debut in the digital 
workspace with high expectations. This 
practice encourages the active 
participation of team members to pool up 
ideas within the organization. It also acts 
as a channel to obtain an effective and 
appropriate solution for complex business 
challenges.
When organizations around the world 
build a culture of innovation, it drives 
sustainable and productive practices 
that spark more ideas. These ideas 
work wonders in workspaces or 
organizations to stay ahead and 
remain competitive in the long haul.
Pooling innovation helps produce new 
products and services, enhance an 
organization’s success, improve the 
development process, and introduce 
cost-reducing techniques. This sums up 
the importance of 
global innovation management 
across organizations.
Strategy For Global Innovation 
Management
Successful global innovation management 
requires some core strategies which are 
discussed below.
Creating Conversations
Innovation is never effective in isolation. 
Involving every employee is crucial to 
making the culture of innovation efficacious. 
Bringing people together stirs a better 
chance of success in organizations. One of 
the best techniques to do so is 
crowdsourcing.
Pulling Employees
Organizations must nurture the internal 
side of open innovation to amplify 
participation. There should be no 
mandating or forcing of involvement in the 
same. That is because it may lead to 
frailties later. Organizations can involve 
the employees in ideation and let them 
know how that can lead to its success.
Run Awareness Campaigns
Creating innovative ideas requires 
strategic orientation. That helps to 
generate new ideas and also adopt the 
culture. A proven way to do so is by 
running awareness campaigns within the 
organization. This is how to encourage the 
broadest range of participants in an 
organization.
Introducing A Common Space
Employees do not always get a separate 
time or space to discuss ideas. What’s 
better than introducing a common space 
for them within the organization! That 
helps them coordinate better and discuss 
various ideas and strategies to uphold the 
organization’s success.
Transparency
The culture of innovation receives a boost 
through transparency. The employees 
must be aware of the ideas, challenges, 
and future strategies discussed within the 
organization. That will help them prioritize 
the required tasks and recommend ideas 
for the same.
Examples of Global Innovation 
Management
Most companies have proactive innovation 
strategies that have a strong research 
orientation and first-mover advantage. It 
helps them become market leaders in the 
field of technology, innovation, etc. These 
organizations access knowledge from a 
wide variety of sources. Moreover, they also 
take high bets or risks to reach the heights 
of success. 
Global innovation management is a strategy 
that holds vital importance for organizations 
around the world. It helps bring teams 
together to innovate new ideas and 
strategies. If your organization wants to be 
a global leader, adopting such an effective 
framework will help it reach heights.
Are you looking for some courses in 
innovation? Visit our website and get all 
your questions answered.
Conclusion
MIT ID Innovation Programme curates 
knowledge and experiences that 
challenge the very paradigm of evolution. 
And that's why we have set out to define 
the future of industries, communities, 
cities and ecosystems. MIT ID Innovation 
offers the best 
Innovation Courses in India. 
We’d love to 
hear
from you.
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