INNOVATION MANAGEMENT AND NEW BUSINESS DEVELOPMENT: ORGANIZATIONAL PRACTICES FOR VALUE CREATION AND COMPETITIVE ADVANTAGE

Abstract

This study investigates how organizational innovation management practices contribute to new business development, value creation, and the building of competitive advantage. The general objective is to analyze how innovation management, integrated with organizational capabilities and practices, supports opportunity identification, new business development, and the generation of competitive outcomes. Methodologically, a bibliographic study was conducted using a qualitative, exploratory-descriptive approach, based on a critical analysis of scientific literature related to innovation, dynamic capabilities, business models, entrepreneurship, and strategy. The results indicate that innovation produces more consistent effects when integrated with strategy, organizational learning, knowledge management, and the ability to reconfigure resources in response to environmental changes. The findings also show that new business development depends on transforming opportunities into economically viable value propositions, as the isolated generation of ideas is insufficient. Competitive advantage results from the combination of resources, capabilities, innovation, and implementation capacity and can be strengthened through the creation of differentiated solutions and business models aligned with market needs. It is concluded that systematic innovation management constitutes a strategic capability for organizations seeking growth and differentiation, provided that innovative practices are integrated with learning, market orientation, experimentation, and continuous evaluation of results, thereby converting knowledge and opportunities into sustainable value for companies, customers, and other stakeholders.