The industrial organizations hinge on innovation of their engineering education to stay persistent and dynamic. Although, there may be no guarantee to attain this without proper education management which will depend upon understanding innovation in enabling an organization to achieve higher levels of performance and work out several solutions in confronting competition challenges. With absence of such ability there would be no knowledge- based organization. Formerly, the question was that how innovation might improve functions; presently, though, relying on education as a potential resource of competitive advantage. We think of how an organization may achieve long-term competitive advantage in this fluctuating world of businesses while resorting to innovation. Focusing on innovation, this article aims to investigate the process of its management in the system of technical and engineering educations.