The project management processes fall into five major categories: initiating, planning, executing, monitoring, and controlling, and closing. Project management principles are highly effective in their application in business innovation programs. Read the article to learn how.

In a design thinking process, the primary task that needs to be handled is problem definition. Without a well-stated problem, you cannot find the right path and attain the right solution. Managers and innovation strategists need to understand the importance of defining the problem before brainstorming solutions.

Great strategies usually fall flat during the execution phase. Find out what the common deterrents are in the successful execution of a strategy.