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Business and Management
Management of Technology and Innovation

Technology & Innovation Management

Profile image of Albert van NiekerkAlbert van Niekerk

2024, The Art & Science of an Innovation Office: A Review of the Literature

Abstract

This literature review explores "The Art & Science of an Innovation Office," examining the pivotal role of the Innovation Office (IO) in modern organisations as a critical driver of technological advancement and strategic innovation. The review comprehensively analyses the IO’s functions, including technology intelligence, sourcing, management, and intellectual property (IP) portfolio development. It highlights the IO's role in fostering an innovation culture, facilitating collaboration through open innovation, and ensuring alignment with corporate objectives and compliance with ISO standards. The discussion extends to measuring the IO's impact on business performance, addressing qualitative and quantitative metrics demonstrating its contribution to organisational growth and market leadership. Furthermore, the review identifies the challenges faced by the IO in balancing innovation with compliance while also exploring opportunities for enhancing its effectiveness in promoting sustainability and social innovation. Ultimately, this review underscores the significance of the IO as the starting point for effective technology and innovation management, emphasising its vital contribution to achieving sustained competitive advantage in an increasingly dynamic business environment.

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