The Role of Innovation Management System ISO 56002 Standard in the Competitive Edge toward Sustainability

Abstract

In today’s current business world, innovation management has discovered a significant competitive edge. ISO 56002:2019 Innovation Management System is a key to standing out from the competition with this newest international standard. The ISO 56002:2019 guiding framework assists businesses in improving their capacity to manage innovation activities, adapt to volatility, enhance consumer satisfaction, involve and motivate staff, and boost corporate reputation and revenue. The purpose of this paper is to describe and introduce the ISO 56002 standard as the landscape of providing an effective innovation management system to achieve sustainable development, as well as their relationship. As a result, this research investigates a theoretical method to show the link between these three notions. According to the findings of the study, companies should be worried about implementing the new ISO 56002 standard, especially if they already have the ISO9001 quality management system in place, to accelerate the innovation process. Organizations must also have a robust innovation system to implement the pillars of sustainable development.