Managing innovation is like competing in an Olympic Pentathlon-excellent performance in one sport will not win you the medal. This textbook explores how top performance in 5 key areas-ideation, prioritization, implementation, strategy, and people and organization-is essential to success in today's ever-changing business landscape.Structured around the authors' original Innovation Pentathlon framework, the book explains what innovation is, why it is important and how it can be managed. Built upon the authors' extensive experience and with case studies covering companies from Tetley Tea to Singapore Airlines, this is a vital resource for students aiming to succeed in both their academic and professional lives. New to this edition: - Embedded critical reflections on all aspects of management combined with practical 'management recommendations', ensuring the textbook is highly relevant to current practicing managers while preparing students for their management careers post-study. - Extended chapter on innovation management in the service industries to reflect the increased importance of this sector. With a careful balance of both theory and practice, an improved structure and a new and updated companion website, this is the essential companion for upper-level undergraduate, postgraduate and MBA students of innovation management.