Innovation depends on much more than just technology and R&D. It is a means to an end – competitive success and higher market value – and it needs to be managed strategically and methodically for tangible corporate performance where it matters: in the market. This article introduces a comprehensive corporate innovation management framework (v-CIM) and a targeted competitiveness assessment tool (i-TCA). Properly used by corporate leaders, this framework and its associated tool enable innovation managers to decide on priorities for competitive development, adopt appropriate innovation strategies to meet corporate goals, monitor progress, make adjustments, and help create and maintain a culture of innovation that is aligned with business goals.
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