Strategic Aspects of Innovation Management

Innovations are treated as a major factor in the development of organizations, regions and entire economies. In practice, the innovativeness of business entities is limited by many factors of internal and external origin. Internal factors include, among other things, the management factors, the concentration of managers’ attention on current issues, the limited use of modern management methods, especially strategic management and innovation management.

In this publication emphasis is put on the discuss of the essence of the strategic approach to innovation management; the essence of strategic innovations and their role in organizational development. Three model solutions have also been proposed, facilitating: rationalization of decision-making processes in the selection of innovation activity strategies; making rational decisions regarding the timing of implementing strategic and improvement innovations; making rational decisions based on the cycle of strategic innovation in horizontal and vertical arrangement.

The purpose of the publication is to propose a strategic approach to innovation management, based not on an intuitive approach, but on a rational approach, using selected model solutions.