What is the primary focus of innovation management?

The primary focus of innovation management is fostering and managing new ideas and processes. This approach aims to create an environment where creativity is encouraged, and novel solutions can be developed and implemented effectively. Innovation management involves overseeing the entire lifecycle of innovation, from identifying opportunities and generating ideas to developing them into viable products or services and ultimately bringing them to market.

By emphasizing the nurturing of new ideas and streamlining processes, organizations can stay competitive, adapt to market changes, and drive growth. This focus ensures that the organization is not just maintaining the status quo but actively seeking ways to improve and evolve through innovative practices.

This contrasts with the other options, which emphasize cost control, compliance, and restricting creativity—none of which align with the goals of promoting new innovations and creative problem-solving within an organization.