Due to the rapidly progressing technological development as well as the market entry of competitors from other industries and globally positioned Big Data and IT competitors, there is enormous pressure for established suppliers to innovate on the medical technology market. In order for you to be able to cope with this development with continued corporate success, both disruptive and successive marketing of innovations is indispensable. Numerous practical examples verify that important points of orientation such as market demands, future market potential or customer needs dependent on the sales region are frequently neglected or even ignored completely. Some market players are restrained by increasing research and development costs which are generated by the high innovation pressure and fail to regularly adapt their business structures to modern requirements. Our committed medical technology team offers you straightforward solutions in all areas of an innovation strategy as well as the corresponding innovation organization and processes. To do so, we identify the growth areas in the market relevant to your success and fully equip you with innovation management set for the future.
Homburg & Partner’s commercial innovation approach focuses on the attractive innovative strength that medical technology companies are constantly confronted with to a high degree. We support you in creating and establishing the best-possible innovation organization in your business and to steer and promote the respective processes in the long-term. For you to make full use of the power of innovation, the following four determining factors are crucial both internally as well as externally:
To ensure a consistent approach to innovation management both in your business as well as for your performance on the medical technology market, a clear and transparent definition of an innovation strategy is the foundation of success for your primarily disruptive as well as your incremental innovations. The first step is to determine a strategic framework for your innovation management in the shape of indication areas, which are consequently adhered to, thus profitably absorbing the great potential of the power of innovation.
Innovation is closely linked with internal questions regarding the appropriate organizational structure, the respective integration in the business context or the allocation of personnel capacities. We implement suitable organizational framework conditions to avoid potential disruptive factors, namely those that culminate in a permeable innovation structure. This is expressed for example in a suitable staffing of positions, closely linked with an appropriate availability of resources, physical locations and an optimal budget.
To perfectly balance your innovation management’s efficiency of resources with creative freedom, we will implement sustainable innovation processes in your business. By employing gatekeepers, the innovation processes and how they are structured throughout the company are transparently defined and will become clear to everyone, thus enabling a free and creative flow within the innovation structures tailored to your requirements.
After all, it is your internal resources that show a high level of involvement in the relevant markets. Therefore, the development of a corporate culture that promotes creativity leads to the complete exploitation of the potential for innovation in the medical technology market. We support you in defining values and guidelines that promote a creative exchange, in addition to a well-founded incentive system that creates an ideal working environment to regularly generate innovation. For this to happen, it is crucial that the management level consistently sets an example of implementing this innovation culture.
Homburg & Partner can look back on many years of experience in pursuing the Commercial Innovation approach to help medical tech companies turn their technology-based know-how and their resource-related potential into long-term, successful innovations. This will also prepare your company for all future challenges by equipping it with an encompassing innovation management.
Do you have questions or would you like to discuss the topic? Then feel free to contact our experts Dr. Michael Scholl, Karl-Hubertus Gruber and Dr. Michael Marquardt.