Innovation Management is the systematic process of managing an organization's innovation strategy, from idea generation to implementation. It involves creating an environment that encourages creativity and collaboration, ensuring that new ideas align with the company's goals and market needs. Effective Innovation Management includes assessing risks, allocating resources, and measuring the impact of innovations. By fostering a culture of continuous improvement, organizations can adapt to changing market conditions and maintain a competitive edge. This approach helps businesses not only to develop new products and services but also to enhance existing processes and operations.