Keywords: innovation management, innovation system, trends, new products, failure rates
Innovation management: different approaches to cope with the same trends
The constant failure rate of new product introductions in the last decades implies that little progress in innovation management can be witnessed. Innovation management is seen as an activity in a multi-level system. The main trends in this system will be described. These trends are inter-related in a complex way and, as a result, the focus in innovation management should be on the combined effect of these trends and on the events that could destabilise the entire system. This article describes four general consequences of the trends in innovation management: 1) the end of the linear model; 2) the rise of the systems approach; 3) the inherent uncertainty and need for learning; 4) innovation becomes more entrepreneurial. These consequences can lead to entirely different approaches to innovation management, two of which will be discussed. The article concludes that significant progress in innovation management has been obtained, but the failure rate has remained the same because of the changing conditions.