Managing Innovation in SMEs
Date: 27 January 2012, 8.30–11am
Venue: Westminster Business School, 35 Marylebone Road, London NW1 5LS
This presentation will explain the nature of innovation in the context of today's SMEs and suggest how the development and management of innovation may become an essential means for an SME's growth and development. The presentation will consist of two parts, first, an overview of current scholarly and industry thinking on the principles, strategies, and practices of innovation management, and second, a discussion of a number of strategic practices that are used in today’s innovative organizations. The emphasis throughout the presentation will be on how innovation may be developed in SMEs across a range of industries and how it may then be managed to support and sustain growth. One strategic practice that has become popular is Product Life Cycle Management (PLM), an integrated, information-driven approach to all aspects of a product’s life from the design of the product through its manufacture, deployment and maintenance, and culminating in its removal from service and final disposal. The recent experience of PLM in US and European organisations will be presented and discussed in terms of its impact on innovative behaviour and innovative outcomes in SMEs. Other important contemporary practices will also be discussed in terms of how they may be used in managing innovation and their outcomes, namely, ambidextrous structuring, interactionist creativity, and intrapreneurship.
Presented by Wilson Ng, PhD Management Studies (Cambridge, UK), MBA (London), CDipAF (ACCA, UK), MA Mathematics (Cambridge)
Wilson is a published researcher in the financial growth and strategic development of SMEs. His current research is on managing innovation in technology SMEs in the EU. He is a Senior Lecturer in Strategy and Entrepreneurship at Westminster Business School, London where he launched and is leading the MBA module on dissertations and research methods and the MBA elective on innovation and entrepreneurship. Wilson also teaches on the MBA module on strategic management and supervises two PhD students, one as Director of Studies. He was a Research Councils UK Fellow in Corporate Governance at Leeds University for a number of years prior to joining Westminster in 2010.
The Innovation, Design, Entrepreneurship and Strategy Research Group at the University of Westminster
This new series of short courses focuses on some of the most important strategic issues facing small and medium-sized firms. The IDEaS Research Group studies the things that are vital to strategic success – including innovation and entrepreuneurship, the management of change and corporate governance, the topics that we cover in the first of this new series of short breakfast ‘taster’ courses.
We are passionate about the things we will be covering in these Business Breakfasts – we believe that understanding the principles of innovation, change management and innovation will make you and your organisation grow and become more successful. Competitive advantage comes from doing things that your competitors don’t do, or doing the same things better. These courses are the first step in gaining the knowledge that will allow you to build a successfully competitive organisation. We look forward to sharing our knowledge and passion with you.
Professor Alison Rieple, B MUs, DipM, MBA, PhD
Professor of Strategic Management, and Director of the IDEaS Research Group at Westminster University.
Forthcoming Business Breakfasts:
- Better Boards: Get more from your directors - 3 February 2012
- Nudging Change: How you can achieve change by using the principles of behavioural economics - 10 February 2012