GROWKOMP
2 YEAR SME TRANSFORMATION PROJECT
Claes Johansson, CEO NNAB (lead business region)
“We have amazing entrepreneurs in our region, even though that they had an untapped potential. I saw a need for new insights and tools within Business Development and Innovation Management, in order to broaden their perspectives and Innovation360 delivered that.”
BACKGROUND
In 2015, 4 regional business development organizations in Småland, Sweden, decided they wanted to help their manufacturing companies look beyond daily operations and engage in the strategic development of their organizations, thereby creating sustainable growth and profits.
HOW
2 year EU funded project aiming to help +20 Manufacturing Firms by training them in all parts of business development: Strategy, HR, CSR, and Innovation.
- Innovation Capability analysis
- Business development boot camp
- Individual company coaching, and training
- Follow-up-analysis
RESULTS
- Average growth of orderbook 25% (10-100%)
- Average Growth of 12%, national GDP of 5%
- Revised business plans to continue the journey of sustainable growth
- Increased diversity in both workforce and management
- Significantly shortened development cycles
INNOVATION PROCESS YEAR 2016-2018
From no systematic ideation, poor selection, development and commercialization To Systematic ideation, development and commercialization
Source: Measured and assessed using InnoSurvey® 360-analysis April 2016 and April 2018.
INNOVATION STRATEGY YEAR 2016-2018
From market follower to innovation based on customer needs and technology. Firms with order book increase of 100% or more shows strongest change of strategy
Ten Scandinavian midsize companies
During 2012–2015, 10 midsize Scandinavian companies assessed their innovation capabilities.
Over the three-year period, 3 defaulted, 2 were flat and 4 more than doubled their turnover.
