Ideascale2019-10-15T15:28:12-07:00February 6th, 2019|Categories: Strategies|Tags: amazon, apple, Best Practices, bottom-up innovation, education, idea management, in-depth article, innovation champion, Innovation Management, innovation metrics, innovation performance, Innovation Strategy, innovation success, innovative people, learning, persistence, resource allocation, resources, strategy, top-down innovation, value creation|
Interpersonal networks within organizations have a huge influence on how successfully firms can generate and execute new ideas, says innovation professor Tim Kastelle.
It's a well known fact that Europe's competitive potential is dependent on the capacity to be truly innovative and creative in launching new successful products and services. This can be a daunting challenge for many organizations, not the least for small and medium sized enterprises that often lack proficiency in innovation management. IMP³rove is an approach developed especially to meet the needs of SMEs to help them develop innovation management performance with sustainable impact.
The use of innovation management increases your operational margins. This was one of the key findings of a European study on Innovation Management performance within SMEs. The growth champions were reaching approximately 12% operational margins, an exceptional performance compared to the 5% operational margin of the average SME. In this article Dr. Dirk Balfanz and Dr. Bernhard Kölmel describe a lean and efficient approach to Innovation Management specifically targeted to the needs of SMEs.