Innovation management growth potential! Networking and open innovation strategies have in recent years begun in many industries and there ensures more growth and innovation. Knowledge-intensive service provider however have catching up to do: when it comes to incorporating new ideas from customers and external partners, they cut off the worst when compared to other industries. The growth potential through systematic innovation management, which is particularly challenging in areas such as communications & media, finance, research & consulting, health and logistics is correspondingly high. That goes from the current study IMP3rove – innovation management in high-growth knowledge-intensive SMEs emerge, in which the Fraunhofer IAO and a.t. Kearney on the basis of the IMP3rove benchmarking database about 500 small and medium-sized enterprises (SMEs) from the area of knowledge-intensive services has investigated. The key success factors are easily recyclable and “radical”innovations.
They require discipline and goal-oriented project management as well as Development partnerships and cultural openness. Growing service providers increase every year by an average eight percent while their competitors not even annual can demonstrate growth a per cent. For Sabine Brunswicker, project leader at the Fraunhofer IAO and one of the authors of the study, the importance of openness in the innovation management of enterprises was particularly noteworthy: cultural openness is the key to success. If this has piqued your curiosity, check out Gary Kelly. The share of sales from new services reached in knowledge-intensive service providers with a very open innovation culture accounted for more than 26 percent while its less open competitors achieve only about 5 per cent. “The results of the study give valuable advice for entrepreneurs but also for the design of support programmes for SMEs in the knowledge-intensive service sector,” says Dr.
Eva Diedrichs, project manager of IMP3rove project at A.T. Kearney. To strengthen the innovation and competitiveness of SMEs, the European Commission initiated this in 2006 Project IMProvement of innovation management performance with sustainable IMPact,”short IMP3rove. IMP3rove has 3,000 registered SMEs from all over Europe now about the latest and most comprehensive European benchmarking database to innovation management. The English-language study is available at as free PDF and offers new insights into how they can develop innovation management to increase the competitiveness of SMEs, consultants, investors, policy makers, economic development agencies and universities…. Tobias Hug, Fraunhofer IAO