How to Develop your Innovation Management Consulting Business in Tough Times

Companies become increasingly restrictive in their consulting spending, especially during times of economic crisis, where the return on the investments on consulting services is questioned and carefully considered. Consulting in the area of innovation management is even more under pressure as it is usually much lower on the CEOs’ agenda than e.g. restructuring or general cost-cutting. Therefore, innovation management consultants face the challenge to develop their client base, be effective by providing the right recommendations and be efficient by developing these recommendations in as short a period of time as possible. Mastering such a challenge seems like searching for Columbus’ Egg in innovation management consulting.

Why Bother about Innovation Strategy as SMEs?

There is discussion about how much effort should be put into developing an innovation strategy especially by small and medium-sized companies (SMEs). Aren’t many successful innovative offerings just a result of trial, error and finally good luck? Insights in more than 1,500 SMEs from the IMP³rove database demonstrate that strategic focus helps secure profitable growth by innovation.

How to Deal with Innovation Management When You Are Small?

Innovation is frequently marketed as driver of growth and prerequisite for remaining competitive. However, the process is often risky, especially for small or medium sized enterprises in search of ways to successfully manage their new products, services or businesses in a systemic and stable manner. Luckily, tools such as the “A.T. Kearney House of Innovation” are available to lend an essential helping hand.

6 Mega-forces of Change that Affect Innovation

Today, there are six essential forces that are driving the changes that are occurring across much of today’s world. While these may not be the most pressing issues for your company, chances are that some combination of them will have a significant influence on your situation, on the strategic choices you make and thus on your approach to innovation.

Mind Mapping Software: A Simple Approach to Idea Management

Small to medium-sized businesses typically don't need an enterprise-level idea management system. What they need is a simple tool that enables them to capture, improve, evaluate and take action upon their best ideas. Mind mapping software is a tool that can help.

A promising Approach to Finding Technology Solutions: Supplier Summits

Given the relatively small number of qualified solution providers for any given technical challenge, one fairly productive and successful problem solving approach undertaken by corporate technology seekers is to organize "supplier summits."

What is Business Model Innovation and How Can you Implement it?

Business model innovation is a potentially powerful strategy for growing your business in the current recessionary economy. In this article, Jeffrey Baumgartner provides a helpful overview of it, and outlines some ways in which your organization may be able to leverage it.

A Business Model Innovation Lesson in Personal Sanitation Products

Kay Plantes never thought toilets could be so interesting. During a recent trip to China, she realized that they provide a rich example of thinking beyond one product when pursuing innovation.

35 Ways to Cultivate Innovation and Organizational Learning

Innovation and organizational learning are inextricably connected. A company must learn from its mistakes and cultivate multiple pathways for recognizing and leveraging the best ideas effectively, whether those ideas come from inside or outside of the organization, says Jim Clemmer. Here are 35 ways to sharpen your organizational "innovation radar," to accelerate learning cycles and recognize and capitalize on opportunities faster.

Lessons in Business Transformation

Is the world turbulent and hard to predict or changing in discernible ways? Two prominent strategists have different views, but draw similar lessons for business leaders.

Coaching SMEs to Innovate

In this article Dr Rowan Gilmore shares lessons from the AIC’s Innovation Coaching program which was first introduced to help Queensland (Australia) SMEs in 2009. The program works with SMEs in a number of industry sectors, helping company management to “think outside the box” to grow their business or develop new products and services.

Open Markets and their Implications for Business Model Strategy

Kahn Academy is in the process of disrupting the long-staid textbook publishers market and K-12 education. This school is a stellar example of how any business today can thrive by capitalizing on trends that are opening markets for non-traditional competitors.

Strategy as an Innovative Design Process

Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.

Open Innovation for Small Companies

Open innovation may seem to be the preserve of big business. After all, it is often associated with long established monstrosities like Proctor and Gamble and IBM. But it is an approach that can be used by all companies, especially start-ups and small businesses, explains Jeffrey Baumgartner.