Innovation management is a tool that can be used as a means for carrying out an organization's technology strategy. The development of new or improved products and services (hereafter, collectively referred to as products) provides a vehicle for bringing innovations to the market. While it is possible to develop successful products that do not contain innovations, or that contain only incremental improvements, the incorporation of radical innovations can contribute to achieving business objectives. For example, Shane1 discussed multiple possibilities, including the maintenance or capture of competitive advantage, the ability to offer complementary products to existing customers, the ability to target new market segments, and the opportunity to disrupt a market.
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