#9 Innovation Matters for small- and medium-sized mature enterprises to survive

This text excerpts a book offering a practical guide for small and medium-sized mature enterprises (SMMEs) to achieve innovation-driven renewal. It stresses the importance of a balanced approach, combining optimisation of existing operations with the pursuit of breakthrough innovation. The book uses case studies, such as Wes-Tech and Breuer Electric, to illustrate effective methodologies like design thinking and phase-gate processes. It also highlights the crucial role of skilled innovators and their management within SMMEs, advocating for a culture that embraces risk and customer collaboration. Finally, it provides assessment tools to help SMMEs evaluate their innovation capabilities and align their strategies for long-term success.