MANAGING

CHANGE AND
INNOVATION
 Change is the alteration of current condition in response of various internal
and external factors

 Innovation is the creation, development and implementation of new

product, process or service, with the aim of improving efficiency, effectiveness
or competitive advantage.

 Management of Change and Innovation is the process, tool and

techniques of various aspects of change and innovation to achieve desired
business outcome
Triggers of Change & Innovation

• Customer need, desires or expectations

• Competitive offers
• New technology

External •
•
Changing demographics
Economic Cycle

Triggers
• Geo- political events
• Environmental change
• Societal change
• Industry structural change
• Regulations change
 • Decisions
• Problems in operations
• Company growth or decline
Internal •
•
Leadership and personnel change
Changes in inter-organization alliances
Triggers
 Enhanced
productivity

Coping up with the

changing market Superior control
and cunsumer over the process
behavior dynamic

Benefits of Right
Management of
Change & Innovation

High-impact Improved return

productivity out of investment

Channelized
process