Considering that myths in organizations tell stories that allow recognizing a set of values, beliefs and ideologies that imprint individuality to the organization, the purpose of this study is to propose a conceptual tool for Organizational management by analyzing and interpreting myths in organizations. Said tool can be easily implemented, as it is shown in its practical application to the analysis of innovation in the city of Medellín, Colombia. In the past, Medellín was associated with drug trafficking and destruction and today is considered the most innovative city in the world. By applying the proposed tool to the innovation case of Medellín, it is possible to analyze and understand how this transformation was possible in the city of Medellín and how the myth of management is an intermediary between the myth of referenceâ paradigm of the pastâ and the organizational mythâ associated with organizational goals. © Common Ground Research Networks, Manuela Escobar-Sierra, Felipe Calderon-Valencia.