The breadth of innovation research and diversity of the fields of knowledge it draws from have resulted in many different conceptualizations and measurements of innovation, making even a cursory understanding of the phenomenon increasingly challenging. In response, innovation researchers have focused on probing certain aspects of innovation such as processes (generation, diffusion, adoption, implementation), types (product, process, service, technological, managerial), and consequences (for the firm, industry, community, economy), often at one level of analysis only. This article focuses on managerial innovation, a type of innovation that has neither conceptually nor empirically been examined as widely as the other types, at the firm level of analysis.