In an uncertain and dynamic environment, established companies must strategically "innovate-to-business" to continuously develop new product/market combinations as competitive advantages for future profitable growth.
To achieve this, companies can use their "research and development" (R&D) department and similar innovation functions for such strategic renewal. However, as these traditionally focus on more incremental technological innovations for established products in established markets, this requires a revision of their approach to innovation. A holistic innovation management system enables strategic relevant "innovation-to-business" to be established and applied with the necessary dynamic capabilities and organizational levers.
In addition to the theoretical framework, the following case study of the Schaeffler Group presents its extended innovation management system in practice. Summarized as "P3", it includes in particular organizational measures for agile portfolio management, a systematic process, and a supportive organization of the people involved. Together, these organizational measures help the Schaeffler Group build the necessary dynamic capabilities and ambidextrous orientation for successful "Innovation-to-Business".
