Seminar paper from the year 2015 in the subject Business economics - Business Management, Corporate Governance, University of applied sciences, Nurnberg, language: English, abstract: Innovations are not a stroke of luck. Most innovations result from a systematic process. Peter Drucker wrote of innovation management as a learnable, controllable and manageable discipline. This statement can be seen that any company in any country, no matter how large, in what industry, international or local can be innovative if it considers and implements certain rules. Innovation management deals with these aspects. The objective of this work is to work out what structures and processes have to exist within a company in order to become and remain an innovative company. This work is divided into different parts. The first part Fundamentals of innovation management introduces the definition of the term innovation and the relationship between ideas and innovations. Furthermore the first part presents briefly the importance of innovation. The second section Developing an innovation-friendly organization demonstrates that the innovation activity of the entire company is affected by four individual factors. These four factors the innovation willingness, innovation possibility, innovation capability and the innovation process are closely considered in this part. The last section Conclusion will complete and limit the entire work and will give recommendation for further research. For that work no primary data was gathered, the entire work is based on secondary data as the scope of this assignment does not allow for any explorative approaches, interviews or surveys. The necessary information for the work that were previously scattered published or accessible will be arranged, analyzed and interpreted. The sources of secondary data are gathered form books, magazines and sources in the worldwide-web