Medium enterprises fit right in the middle of the innovation spectrum, between the resources of large multinationals and the flexibility of its smaller peers. Size does matter. They face several barriers in their path to good innovation management, such as limited resources to invest, lack of incentives and innovation infrastructure, and shortage of innovation specialists. But there is some good news, too.
If you are leading innovation management efforts in a medium company, remember that the following is playing in your favour:
The following table sums up this reality:
Taking all this into consideration, there is no single bulletproof formula for companies to innovate, but rather multiple possibilities. Very diverse companies find their own ways of bringing about fresh, impactful ideas, based on past experiments and all the knowledge gathered across industries.
All in all, innovation is not a pure science, and must be tailored to the size and reality of each company, founded on industry best practices.
Andreia Agostinho Dias, Sales Executive
Diana Neves de Carvalho, Exago’s CEO
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