ed: Companies need to have the right criteria and metrics to support a consistent and effective decision making process. Continuous interaction between TD and NPD teams is highly essential as these teams usually have different mindsets and, secondly, to avoid any misalignments during the course of the development. It is highly important to have an early involvement of product people in the technology development process. A single point of contact for both technology and product teams will accelerate the decision making process. Primarily those technologies that are validated and are mature enough will be the only ones that can be integrated into products. Therefore, a process is required to measure the maturity level of technologies. Technological readiness should be able to demonstrate business value, usage models, market-ecosystem analysis, target roadmap intercepts, cost analysis, performance analysis, risk/reward estimation, and technological challenges. By having a technology portfolio approach, companies can keep track of all the technologies that are developed within their organization. Having a technology portfolio will help in finding the right set of technologies for the product. Synchronizing long term strategy with technology development and product development could help companies to better link the technologies to their products. Innovation Management What exactly is innovation? Many people think of innovation only in terms of producing new products or technologies sold to make money; jobs that only a few of us might actually be working on. But innovation is more than just producing goods; the other important domains that are included in innovation are new processes, knowledge (patents) and leadership (strategy, corporate culture) [13]. Then the next question that comes to mind - what is creativity and what is the difference between the Creativity is a concept that means coming up with new and original ideas. Innovation is putting those ideas to work and creating a benefit. Next Generation Mobile Co