This is an exciting new edition of a core textbook that explores innovation management from a global perspective. Innovation management is increasingly significant, both as an academic discipline and as an integral part of the way businesses seek to change and grow. However the key factors behind successful innovation and the process by which innovation is turned into profit in the global arena remain largely undefined. The new edition provides a unique answer to these questions and offers a step-by-step guide to innovation strategy development, taking into account the global context in which businesses today operate. Written by a highly experienced instructor, this is an ideal companion for undergraduate students of innovation as well as postgraduate and MBA students taking modules with an innovation component.New to this Edition:- Completely rewritten and restructured to explore in more depth how innovative ideas are identified and strategized in an increasingly globalized world- Fully updated and extended case studies on world-leading companies- Increased attention to commercialized innovation, including factors such as intellectual property laws, technology acceleration and the competition for venture capital and finance- Coverage of new topics such as open innovation and service innovation- Expanded coverage of the tools and methods needed to understand financial gain and risk