A Review of Innovation Management Models

Abstract

Innovation management has emerged as a critical discipline for organizations seeking sustainable competitive advantage in rapidly changing and knowledge-intensive environments. It encompasses the systematic planning, organization, and control of innovation processes, from idea generation to commercialization. Over time, numerous innovation management models have been developed to explain how organizations create, manage, and exploit innovation. This review critically examines key innovation management models, including linear models, interactive models, open innovation, stage-gate processes, systemic and ecosystem-based models, and agile innovation frameworks. By synthesizing theoretical and empirical literature, the paper highlights the strengths, limitations, and practical relevance of these models. A comparative analysis is presented to assess their applicability across different organizational and environmental contexts. The review concludes by emphasizing the need for integrative, flexible, and digitally enabled innovation management models to address contemporary business challenges.