Innovation Management

The aim of this paper is to define potential areas of innovation management trends with an outline for the most relevant academic research and management practice areas and directions. Make the most effective use of the limited resources; focus on one of the following: 1) Operational output 2) Top-quality products 3) Perfect customer knowledge  Design / Methodology / Approach: Main research patterns in innovation are extracted from a thorough review of literature. Additionally, to finally develop a conceptual framework it identified major macroeconomic trends and new technologies. A good or a service which is new or improved significantly. This includes substantial improvements in technical specifications, components and materials, product software, user friendliness or other functional features.  Findings The paper acknowledges seven main areas for future research in innovation management theory and practice. These sectors include consumer focus, network management, sustainability, frugality, intellectual property, business model and global innovation. Based on paper literature analysis, the paper offers a conceptual structure based on Intra Company and external accountability, as well as the short-and long-term strategic perspective. In the end, future research fields will be added. The paper addresses seven key areas for future research at innovation management theory and practice.  Originality / Value: The paper presents a new conceptual framework and outlines a holistic view of the topics for managing innovation in the coming years