An Innovation Management System, based on the new international standard ISO 56001 [September 2024], includes a series of interconnected elements that allow the organisation to identify the vision, policy, strategy, objectives and innovation processes/procedures required to achieve the desired innovation outcomes [innovation = knowledge & technology transformation to deal with business opportunities].

These activities include detecting & responding to changing conditions in the organisation's operating environment, seeking new opportunities, developing future-focused leaders, harnessing the knowledge & creativity of people within the organisation and other stakeholders [innovation hubs] and, ultimately, fostering an innovation culture that effectively supports innovation activities.

It should be noted that relevant Innovation Benchmark surveys have highlighted the human factor as a key element for effective innovation initiatives, with high scores in the categories of innovation culture - creative thinking - strong C-suite leadership.