An innovation management system is a set of interrelated and interacting elements, aiming for the realization of value. It provides a common framework to develop and deploy innovation capabilities, evaluate performance, and achieve intended outcomes.
The elements can be gradually adopted to implement the system according to the particular context and circumstances of the organization. Full benefits can be gained when all the elements of the innovation management system, are adopted by the organization.
Ultimately, the effective implementation of the innovation management system relies on the commitment by top management and the ability of leaders to promote innovation capabilities and a culture supporting innovation activities.