Innovation is in limelight not only in the western world, but also in emerging markets. In the backdrop of this fertile environment, facilitating firms with building innovation capability is seen as a necessity. A structured approach to innovation management, then should extend beyond, for creating new business models in the competitive arena. This may be brought to practitioners, and students at business schools alike, in order to emphasize that this relatively new phenomenon is far too important to postpone. A survey conducted with business schools in India has shown that they are far behind not only in taking up innovation management as a major management discipline, but also advancing further to introduce business innovation concept especially in their courses on entrepreneurship.
