The awareness of innovation as a driver for growth and competitiveness has increased during the last years due to the efforts taken both in the public and private sector. If there are no organisational structures in place driven by a strong innovation culture to integrate new ideas, technologies or systems, innovation success will be limited. If there are no or the wrong key performance indicators in place for the innovation processes (from idea management to development, launch and continuous improvement) the impact from research remains very limited.
IMP³rove - the European Approach to Innovation Management is based on a holistic approach to Innovation Management that aims for sustainable growth of enterprises - mainly of SMEs. When measuring the Innovation Management performance of a firm all influencing factors on innovation must be taken into account, since there is not one single “stand-alone” indicator to assess the Innovation Management performance. To cover all influencing factors on innovation, the holistic approach has evolved as the basis of IMP³rove and the model which focuses on value generation is represented below.
With IMP³rove the European Union has a platform for Innovation Management. It offers a comprehensive suite of support services that have already been adopted in almost all EU member states. These services include support of enterprises (mainly SMEs) in improving their Innovation Management capabilities and performance, including benchmarking and auditing in (sustainability-driven) Innovation Management.
A number of professionals across Europe have been trained in the IMP³rove approach and applied this approach to SMEs from various industries and countries.
The IMP³rove Assessment provides an indication of a business’s competitiveness and sustainable growth. It shows to what extent Innovation Management capabilities contribute to the competitiveness of a company. The 5 dimensions of the IMP³rove Assessment are illustrated below.
A comprehensive IMP³rove Assessment report compares a company with the Growth Champions and with the average for each of the 5 dimensions. Depending on the geographic scope a company can be compared with its competitors in their domestic markets or with (potential) competitors in international markets. You can selectthe companies against whom you would like to benchmark yourself. Select the country, the industry sector, the size class and the age class of those companies that you think are major competitors.
The IMP³rove Assessment report produced after the assessment process presents in a clear structure a comprehensive picture of the company’s Innovation Management performance and thus also valuable information on the future competitiveness and growth potential of the company.
The information provided in the IMP³rove Assessment report is appreciated by financial actors, interested in investing in the company, by policy makers offering support to small and medium sized companies to increase their competitiveness and innovation performance, as well as by consultants who have a sound basis to develop customized measures for improving their clients Innovation Management and exploring potential new markets.
Please see www.improve-innovation.eu for more information on IMP³rove.