The Nordic countries have a high number of start-up companies but are struggling with scaling their entrepreneurs, start-ups and innovations to global large-scale operations and companies. Yet, one Nordic company namely Denmark’s Vestas Wind Systems managed to become world-beater within the global wind turbine industry. But but after 2008 Vestas has experienced a near death experience and is struggling for survival. Vestas’ story holds important lessons for other Nordic companies, not only within the renewable energy industry. It will here be argued that had Vestas paid more attention to what the management guru Peter Drucker labeled the five deadly business sins Vestas might have avoided getting into dire straits.
Since 2009 we have been suffering a serious global economic crisis and the situations in most small countries, including Denmark, has been very difficult due to growing unemployment and unsustainable public finance deficits. This crisis has occurred at a time of structural problems related to an ageing population. InnovationManagement interviewed Bengt-Åke Lundvall, Professor in the Department of Business Studies at Aalborg University, on the role of innovation and innovation policy in this context.
Gaming week in Silicon Valley, development of sustainable houses in Shanghai, and medico innovation in Munich – what do these things have in common? They are all projects set in motion by Danish innovation centres in order to strengthen the innovation and competitiveness of Denmark. And you are invited to join.
The paradigm of innovation as driven primarily by technology and science is passé. A new paradigm is emerging, with the publication of success stories of companies innovating through other ways. The Danish and Finnish governments jointly funded a study into the new nature of innovation, as a contribution to the OECD’s work on innovation strategy. Innovationmanagement.se asked the FORA team behind the report to present the highlights. FORA is a research and analysis division under the Danish Authority for Enterprise and Construction
You might think so since the world’s first government sponsored user driven innovation program is to be found in Denmark. The program aims to strengthen the diffusion of methods for user driven innovation and to contribute to increased growth in the participating companies. It also aims to increase user satisfaction and/or increased efficiency in participating public institutions. Søren Tegen Pedersen is the Deputy Director at the administrative authority of the program.