Discuss the role of innovation management in relation to strategic, Essay

Discuss the role of innovation management in recounting to strategic, international marketing and corporate objectives - Essay ExampleWhile innovation contributes to economic performance, corporate war-riddenness and the overall quality of life, there are many a(prenominal) social and economic benefits of innovation, hence, an organizational returns depend from the appropriate managing of risks and complexities connected with the innovation. The following paper will discuss innovation in terms of primary and place upright activities and innovative management contribution will be illustrated in terms of strategic objectives. These objectives will be argued through the creation of competitive advantage. Porters generic strategies and his value chain will be also discussed. The paper will also highlight the importance of innovation as the source of competitive advantage and through the viewpoint of international business. Position and Paradigm innovations and innovation space will b e discussed in order to address issues of strategic direction. supranational integration that came from the interchange of world views, ideas, products and other aspects ofworld culture has given modern businesses to a greater extent opportunities to search and expand their activities in new locations and search for adapted suppliers. However, the propriety of these suppliers made companies think about new approaches for cooperation. Thus, technical competence and innovativeness have become necessary parameters to obtain competitive advantage of these companies over others (Upadhyay & Baglieri, 2012). The unaffiliated suppliers innovate if they obtain cost-benefit ratio, however, the dependent suppliers need innovation more in order to satisfy customers. Here innovative approach is used even if they fulfil no long-term return. This is because innovation will allow attaining customers in the long-term perspective and would allow company to obtain an advantage in the future. Upadhy ay and Baglieri (2012) consider that it is more