Adventurous as the word innovation may sound, an innovation consultant’s job consists for a large part in de-risking the innovation process. In order for innovation to be a viable undertaking for any company, the outcomes of the innovation need to be maximized, while the risk involved needs to be contained as much as possible.
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.
