Managing Management

Both ISO 56007 and ISO 56002 provide a summary of the parameters that contribute to innovation within an organization, including culture, leadership, and other enablers. With the understanding that innovation is crucial for organizational growth and survival, and that the challenge lies in stimulating innovation without wasting resources or losing focus, this chapter introduces the concept of Management by Opportunity (MbOp) as a practice that focuses on identifying and implementing implementable innovation that delivers value to the organization. The four components of MbOp for fostering innovation are: genuine commitment by senior management, employees’ motivation to innovate, an environment that supports intrapreneurship, and finally the provision of easy-to-use innovation enablers, such as the IpOp Model and intrapreneurship education. It concludes by discussing the benefits of MbOp, including increased job satisfaction, motivation, and measurable results.