Running head: MANAGING INNOVATION 1
5-1 Report: Process for Managing Innovation
MBA 580
November 14,2021
SNHU
MANAGING INNOVATION 2
1. The most suitable or appropriate process for managing innovation in a changing
external environment:
In general, every business conversation and event begins with the simple term innovation. An
innovation management process is basically a systematic approach for prioritizing, generating,
validating, and evaluating new ideas and strategies as well as implementing or practicing them
(Kylli, 2019). In the changing external environment, the most suitable process for managing
innovation includes the below four processes:
Stage-gate: The stage-gate or phase-gate process is the single most popular process for the
innovation of the product, including different variations of the process (Kylli, 2019). Here, the
organization can develop its products with new ideas within the limited resources.
Agile: Agile is an approach and often a pull-based process used to obtain better results for the
organizational projects by favoring interactive work, incremental changes, and collaboration in a
sprint sequence (Change management meets agile, how does that work? and Change, 2021).
Lean: Lean Startup model basically operates with limited resources in a complex, unpredictable,
and rapidly changing environment, which is best suitable for most organizations (Kylli, 2019).
Similarly, this lean startup model can be beneficial for the present organization to develop its
new product.
Discover-iterate-pivot: In this process, a minor change or a wholesale change can be made in
