Innovation management

Laying the foundation for the business of tomorrow

Innovation is one of the key success factors for the renewal of a company. Innovation management in our understanding is the successful introduction of an innovation on the market and thus not limited to the promotion of the creation of ideas, but also and especially the translation of these ideas into marketable products and services.

Although in practice there is a significant focus on the creation of ideas, the real challenges lay in selecting those ideas with real potential and the successful and rapid implementation in the market.

Innovation management is consistent multi-project management

Effective innovation management is based on the consistent evaluation of each innovation and its impact and effects on the market-product-portfolio on the one hand and the identification of unmet demand for innovation on the other. The assessment must always be carried out by the market as well as the clients. Consequently, it becomes clear that innovation is an enterprise-wide discipline that mainly manifests itself in projects.

Hereby, the key success factor is a multi-project management covering all innovation projects, and firmly aligned with a stage-gate-process. In a world of scarce resources, the exit of non-promising initiatives is simply as crucial as the strong leadership of high-priority ideas.

The starting point is the design of the evaluation mechanisms, the organization and the reporting of innovation within the company. Based on that company-specific instruments are developed that can be supported by the use of multi-project management and BI tools.

Innovation needs structures and transparent management

We create transparency even in research areas, usually characterized by high a complexity of content. Transparency creates space, necessary to use scarce development resources more efficiently, to separate average from outstanding ideas and to protect competitive vital know-how. At the same time, this focus increases the speed with which ideas are formulated, tested and implemented. Time-to-market is the new Darwin principle in the competition. It applies to both: large and small companies.

Contact persons for innovation management

 

Stephan Grunwald
Master of Economics and Business Administration
Senior Partner

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Den Grundstein für das Geschäft von Morgen legen

Nicht die Generierung von Ideen, sondern deren strukturierte Umsetzung zur Marktreife differenziert die Champions vom Wettbewerb

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