B2B, or business to business marketing, involves selling of a [...]
Systematic Idea Generation and Organizational Capabilities for Front-End Innovation Performance in SMEs
This study seeks to answer two key questions about the front-end innovation: when do idea generation activities involving internal and external partner’s payoff, and which organizational capabilities support idea generation activities for achieving high front-end performance?
Running a small business is not easy, especially when the small business is just starting out. Any misstep, even well-intentioned, can cause a serious setback. But have no fear! There’s a whole untapped squad of people out there ready to work for you for free! Here are three ways crowdsourcing is good for small businesses.
In view of creating more competitive regions and industry sectors, innovation capabilities of SMEs play a central role. SMEs are strong economic drivers in many countries, and their ability to innovate will determine the health of national and regional economies in the future. A key support for SMEs in their innovation efforts are public innovation support programmes.
This is the era of rapid changes and disruptive innovations, and no startup, irrespective of size or industry, should be launched without a high degree of innovation and differentiation. This article is about the why, what, and the how— the systematic way to achieve this, based on the long international experience of the author, Dr. Stephen M. Sweid.
Intrapreneurship is vital for all organizations to thrive in the 21st century - equally important for large firms, SMEs, and family businesses. Is there a proven recipe, a one size fits all approach to promoting intrapreneurship?
SMEs have sustainability on their radar. Their main goal is economic sustainability. To achieve this goal, they can take ecological and social sustainability as an opportunity for innovation instead of just considering it as a mere cost driver. Thus innovation and sustainability become the two sides of the coin called profitable growth.
The recent economic crisis has confronted companies across Europe with major challenges. Small and medium sized companies in particular seemed to have a customer base too reduced to maintain their business. In such a situation there are two options: invest in developing new customers or invest in developing new, more attractive, offerings.
Recognizing that every collaborative endeavor is unique and should be evaluated on its own merits, companies must do their homework before starting to work together. Successful innovation collaborations start with a clear understanding of how each company wants to benefit from the partnership, and how they will work toward a win-win outcome. This article highlights matters to be considered and memorialized in this formative stage of a partnership.
Innovation is always a result of taking risk and mastering these risks successfully. However, in the past few years the risks resulting from the overall economic situation seems to have increased for small and medium sized enterprises (SMEs). As they cannot control these external risks many of them seem to stay away from too risky innovation projects. This has implications for the SMEs and for those who provide innovation support for SMEs?
Open Innovation relies on collaboration to achieve success. To determine which firm is the best suited to be an innovation partner, small and medium-sized entities (SMEs) should consider using an approach modeled on the “Want, Find, Get, Manage” methodology developed by Alliance Management Group (AMG). Because of their unique characteristics, broadly summarized as limited resources,SMEs should substitute “want, find and get” with “need, know and negotiate.” Capable and stable management remains a constant.
To succeed in a fast-paced competitive global economy, small and medium-sized entities (SMEs) are increasingly adopting Open Innovation (OI) management strategies. A lack of resources, however, frequently requires SMEs to implement OI strategies on their own without the assistance of a management strategy professional. This article offers clear, do-it-yourself steps to initiate an OI program successfully within an SME.
Owners and managers of small and medium sized companies (SMEs) are reluctant to hire consultants and even more so when it comes to innovation management consulting. And they often have good reasons to do so. They don’t see an appropriate value for the money and time they invest on innovation management consulting - especially since the quality and range of such services varies dramatically.
SMEs are perceived as the back-bone of most economies in Europe. Therefore, a lot of programs have been launched to support their growth. Over the past years, offering innovation support has become popular, complementing the well-known start-up financing and technology transfer programs. Despite the above, there is a level of dissatisfaction regarding the impact of these services.
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.