In order to enrich management innovation theory, the paper identifies 13 key influencing factors impacting management innovation process from a rational perspective by case study method and Atlas.ti software. Then this paper further examines influencing condition and change trend of these factors on the creation, decisionmaking and implementation of management innovation. The investigation shows that: in creation stage, internal innovator’s education, creativity, TMT heterogeneity, market dynamics and institution change play a key role; in decisionmaking stage, internal innovator’s risk preference, organizational size, organizational structure and organizational resource play an dominant role; three key factors of TMT heterogeneity, market dynamics and institution change are negative; in implementation stage, internal innovator’s tenure, creativity, TMT heterogeneity, organizational size, organizational structure and organizational resource play a key role; internal innovator’s experience, need of achievement and organizational culture play a vital important role in three phases.