Innovation management

Innovations oriented toward what the market needs and wants help stabilize market position and ensure growth potential and competitive advantage. But creative ideas alone are not enough.

In order to introduce new products, procedure, technologies, or processes on the market in a quick, successful manner, it is indispensable that innovation management be firmly rooted. Ideas and impulses, either from outside or from within the company, need to be identified, analyzed, filtered, and evaluated in a systematic manner before making significant investment in development.

In order to do this, it is crucial to have an innovation process that is clearly defined, innovation methods that are applied in targeted fashion, and an organization that is up to the task. Coordinated innovation controlling supports a realistic assessment of market opportunities and cash needs for the implementation of ideas. In addition, select performance indicators provide an objective measure of the success of newly introduced products and services.

The linking of a company’s strategic direction with its innovation portfolio is another critical aspect in implementing the available innovation budget in an effective, targeted manner.

Importance of organization in innovation management

The decisive factor for the success of innovation management is, however, finding the right balance between process/development organization and the requisite innovation culture. This allows new ideas to emerge and creates the necessary latitude for innovative impulses.

Through its extensive project experience, ROI Consulting has developed a practice-proven program for productive innovation management, which is tailored to a company's specific requirements in connection with each consulting project. Select toolkits from this program can also be applied on an individual basis - for example, in order to assist companies in boosting low capacity utilization through new ideas.