Innovation is the process by which a novel idea (of technology or market) is adopted by an.enterprise to create a new product, service, process or management system to meet the requirements of changes in the business environment, technology or competition model. This is also a major policy of the Party and the State aiming to restructure the economy and state-owned enterprises for Vietnam's deeper integration into the world economy. Strategies, processes and methods should be built by enterprises to ensure effective management of the innovation process.