Innovation is the key to gaining and maintaining a competitive advantage in the business world. Using multi-functional research from economics, organizational theory, general management and marketing, and strategy literature, Innovation Management, 2/e, provides a systematic approach to the strategies and processes that underlie the financial results of innovation. Designed to meet the increasing number of courses in innovation management, the text provides full coverage of this vitally important area of business. Drawing from his extensive professional and academic experience, Allan Afuah shows the relationship between innovation, a management function, and profitability, a financial function. He creates a framework that encompasses the basic questions of the "who, what, when, and where" of innovation, combining the latest theoretical discussion with abundant examples. In this second edition, Afuah explicitly incorporates coverage of the Internet as a technological change and offers an entirely new chapter, "Strategies for Sustaining Profits." The text takes a unique multi-functional approach that integrates the important contributions of economics, organizational theory, marketing, and finance to innovation management. This approach provides students with a full presentation of appropriate management theory and detailed coverage of practical concerns such as the role of government regulation, choosing a profit site, and the transfer of innovation. The impact of the public and international sectors is highlighted with chapters on globalization, innovation in emerging economies, and the role of government in promoting innovation. In addition to a strong analytical and theoretical foundation, the book offers many pedagogical examples. Most chapters conclude with short practice cases designed to supplement the numerous examples within each chapter. These cases are followed by a list of key terms and questions to stimulate discussion. Innovation Management, 2/e, is an ideal text for business school programs and also provides guidance for executives and managers seeking a better understanding of the value of innovation.