Running Head: INNOVATION MANAGEMENT Innovation Management Name Institution of Affiliation Professor Date 1 INNOVATION MANAGEMENT 2 Introduction During the intersection between the burst of technology and entrepreneurship in the early 1990’s, business has seen a different path as corporates and organizations seek to ameliorate their products, processes and services (Drucker, 2015). Since then, innovation is the primary ingredient for what can be perceived as the delicacy of gaining and maintaining a competitive edge. It is the critical driver for competitive success, and the tables have been overturned by new entrants who now dominate the market having leveraged technology as the fuel to innovate.Since technology is a sole product of innovation, it becomes possible to comprehend why it acts as the primary fuel or rather the catalyst to drive innovations across different business domains. In the awakening of innovation management, businesses are shaping their strategic management along the lines of innovation to gain a competitive advantage (Schilling, 2017). The application of innovation management brutally defines which companies stay in the market and grow to their contemporary capacity and those which risk fading and possibly dissolve the business. The text presented herein reviews innovation management topics and later focuses on Porter’s five forces in pertinence to Walmart case as a primary theme of choice in a quest to deepen knowledge. INNOVATION MANAGEMENT ...
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