5.1.3 Why is decision making applied

Managing innovations requires several steps, usually described as:

  • Choice of an innovation strategy
  • Evaluation and selection of ideas for a specific innovation
  • Choosing the concept
  • Selection of resources
  • Viewing and selection amongst possible alternatives
  • Evaluation of performance
  • Choosing the right time and conditions to enter the market

For an optimal decision, we need information and in order to gather and to distribute information and decisions properly we have to organise the information flow in the company. For more details, you may wish to see other chapters in this guide. 1

1 Chapter 4.6 - Internal innovative proposals; Chapter 10.1: HR competence requirements for innovations, Chapter 10.2 - Creating a company culture for continuous innovation