This document introduces the concept of innovation management, emphasizing its importance in strategic management. The author, Andrew H. Van de Ven, defines innovation as the development and implementation of new ideas by people engaged in transactions within an institutional context. This definition highlights four key factors: new ideas, people, transactions, and institutional context. Each factor presents specific challenges that general managers must address: 1. **Managing Attention**: People are naturally inclined to focus on existing practices rather than new ideas, making it difficult to trigger their attention to innovative concepts. 2. **Managing Ideas into Good Currency**: Innovative ideas must be pushed and riding through a social-political process to gain traction and become institutionalized. 3. **Managing Part-Whole Relationships**: As innovations evolve, multiple functions, resources, and disciplines are needed, leading to complex and interdependent relationships that must be managed effectively. 4. **Institutional Leadership**: Creating an infrastructure that supports innovation is crucial, as innovations not only adapt to existing structures but also transform them. The paper also discusses the limitations of traditional approaches to innovation management, such as the focus on specific stages or types of innovation, and the need for a more holistic perspective. It emphasizes the importance of understanding the physiological limitations of human attention and the role of organizational culture and leadership in fostering innovation. The author suggests that a practical theory of innovation should address these challenges to effectively manage the innovation process.This document introduces the concept of innovation management, emphasizing its importance in strategic management. The author, Andrew H. Van de Ven, defines innovation as the development and implementation of new ideas by people engaged in transactions within an institutional context. This definition highlights four key factors: new ideas, people, transactions, and institutional context. Each factor presents specific challenges that general managers must address: 1. **Managing Attention**: People are naturally inclined to focus on existing practices rather than new ideas, making it difficult to trigger their attention to innovative concepts. 2. **Managing Ideas into Good Currency**: Innovative ideas must be pushed and riding through a social-political process to gain traction and become institutionalized. 3. **Managing Part-Whole Relationships**: As innovations evolve, multiple functions, resources, and disciplines are needed, leading to complex and interdependent relationships that must be managed effectively. 4. **Institutional Leadership**: Creating an infrastructure that supports innovation is crucial, as innovations not only adapt to existing structures but also transform them. The paper also discusses the limitations of traditional approaches to innovation management, such as the focus on specific stages or types of innovation, and the need for a more holistic perspective. It emphasizes the importance of understanding the physiological limitations of human attention and the role of organizational culture and leadership in fostering innovation. The author suggests that a practical theory of innovation should address these challenges to effectively manage the innovation process.