Innovation Management: Harnessing Creativity for Sustainable Competitive Advantage

Abstract

In today's fast-paced business world, innovation management is crucial for companies to successfully use creativity to gain a lasting competitive edge. an organization's capacity to expand and maintain its position as a market leader depends on its capacity to innovate. It lays out the steps that organisations can take to encourage creative thinking, provide employees with opportunities to think outside the box, and turn ideas into reality by looking at both theory and practice. Additionally, the study delves into multiple innovation management frameworks, illuminating their uses and advantages in various organisational settings. These frameworks include open innovation, design thinking, and agile approaches. Leadership, organisational culture, and strategy alignment are the three most important aspects of an organisation that can have an impact on innovation. This research uses case studies and examples from the industry to show how these elements can be used to achieve a competitive advantage through innovation management.