Innovation management as a new management concept
This paper discusses the main theoretical aspects of innovative management as a new management concept in general. The creation, implementation and application of management innovations is a new area of scientific research. The article sets out the main stages in the development of this concept. Analyzing the specifics of managerial innovations in comparison with other types of innovations, the author recognizes this concept in the scientific literature. The author also identifies the main drivers of management innovation, their impact on a firm’s productivity, their role and determinants in non-profit organizations. This article also provides examples of recent management practices in modern organizations. Innovative management has relatively recently become an area of research. Previous studies mainly focused on technical innovations, respectively, research was needed to better understand innovation management as an independent field of study. This is one of the main tasks of management science, and it is also worth noting the importance of this task for the companies themselves. Managerial innovation is the key to competitiveness, and it needs to be recognized that companies can be more innovative in management. This task is also relevant to management science researchers. The importance of technological innovation focuses on basic science. New research showing the contribution of managerial innovation to the productivity of a firm, to the welfare of society, shows that managerial innovation is as important as technological innovation. Recognition of the contribution of management to social progress is key for the future of management science.