Challenge of innovation to classic business management theories

Innovation is the most important source for enterprise to gain competitive advantage, and advanced innovation management is critical to an enterprise's sustainable development. Classic business management theory can't catch up with the dramatic changes of environment where enterprises exist. This paper first analyses the situation of innovation and innovation management of Chinese enterprises and the environment facing them, then integrates the latest research of innovation management, and presents challenges and countermeasures to classic strategic management (from environment driven to core competence, and complexity based management), marketing (focus more on lead user), organization (from M form to network as well as C-Form), finance (balance of financial and nonfinancial calculation), human resource management and enterprise culture theories from the angle of executing innovation management.