ABSTRACT
The management of innovation in growing companies becomes essential to sustain business success and innovativeness. This contribution is a short excerpt of a study on the changes of innovation capabilities and provides a structured introduction to an innovation model to predict company success and potential. In addition, two innovation management audits (IMAs) are described, which are used to capture information needed to run the Innovativeness, Capabilities and Potential model (ICP). The underlying research focused on the review of the key theories in understanding the dynamics of innovation capabilities. Relationships among trigger, driver and supporter for innovation and business success have been analysed and applied in a validated innovation model. The ICP model has found application in measuring and developing regional innovation clusters as well as developing innovation strategy and initiatives in high-technology SMEs. The adoption and change of innovation capabilities has become of paramount importance for companies to survive, grow and succeed as a strong relationship exists between market performance and innovative products and services. Dramatic change and innovation dynamics are best observed in growing companies – especially in the transformation from a start-up phase to a more mature phase.
