This in turn will lead to growth for the organization. Innovation management is the process of managing innovation within an organization. This includes activities such as managing ideas, defining goals, prioritizing projects, improving communications, and motivating teams. As we will see later, innovations have particular life cycles; today’s innovation will become obsolete in the future. For organizations to sustain their mission, they must continuously innovate and replace existing products, processes, and services with more effective ones. Focusing on innovation as a continuous process acknowledges the effect that learning has on knowledge creation within the organization. Learning how to innovate effectively entails managing knowledge within the organization and offers the potential to enhance the way the organization innovates. This element adds a further extension to our definition: