Innovation management has evolved from a narrow focus on research and development activities to a comprehensive, multi-level discipline integrating strategy, organizational behavior, technology management, ecosystems, sustainability, and digital transformation. This review synthesizes foundational theories, dominant managerial frameworks, measurement systems, and emerging trends shaping contemporary innovation research. The study integrates classical Schumpeterian theory, dynamic capabilities, open innovation, absorptive capacity, ecosystem governance, and digital innovation perspectives. It further presents structured tables and conceptual figures to enhance clarity and comprehension. A research agenda is proposed emphasizing artificial intelligence–enabled innovation, sustainability-driven transformation, innovation management systems (IMS), and ecosystem orchestration. The review is written to provide both conceptual depth and practical applicability while maintaining academic rigor.

Innovation management has evolved into a multi-layered, interdisciplinary domain integrating strategy, technology, organization, and societal transformation. Classical theories provide foundational insights, while contemporary research expands into digital ecosystems and sustainability-driven innovation. Future scholarship must integrate system-level governance with firm-level capabilities and technological transformation. The field’s progress depends on rigorous empirical testing, improved measurement systems, and interdisciplinary collaboration.

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