This module focuses on the management of innovation activities and how businesses may benefit from the development and application of technology. It introduces the management of innovation and technology as a multiple perspective approach, which incorporates the key areas of the business and management together. The unit provides a clear overview of the critical theories and concepts of innovation management. It also highlights the issues and factors involved in the management and development of new products, new services, new technologies, and new business models. Since managing innovation and technology is crucial to a firm’s success, understanding the above factors can lead to the success of the innovative firm in the short and long-term.