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Innovation with Limited Resources: Management Lessons from the German Mittelstand

Innovation with Limited Resources: Management Lessons from the German Mittelstand Practitioner PointsThe article:Identifies six key traits of Mittelstand firms that foster innovation despite potential resource constraints—traits that potentially may be emulated in contexts outside Germany.Offers insights on potential challenges in innovating and competing with limited resources.Provides policy makers both within and outside the European Union with strategies to enhance the innovation potential of small‐ and medium‐sized firms within their own countries.Provides a holistic and comprehensive understanding of the ability to innovate and successfully compete within a resource‐constrained context.Resources—defined as firm‐specific physical, human, and organizational assets (Wernerfelt, )—are at the core of firm strategies (Barney, ; Sirmon, Hitt, and Ireland, ). They can be tangible as well as intangible (Teece, Pisano, and Shuen, ) and enable companies to build valuable capabilities that lead to new or improved processes, products, or services, and ultimately provide competitive advantages over other organizations (Teece and Pisano, ). Given the scarcity of valuable resources, firms must find ways of acquiring and efficiently deploying such resources. While recent studies point to the importance of effective and efficient resource deployment to achieve innovation (Duran, Kammerlander, van Essen, and Zellweger, ; Sirmon, Hitt, Ireland, and Gilbert, ; Uhlaner,van Stel, Duplat, and Zhou, 2013; Van Burg, Podoynitsyna, Beck, and http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Product Innovation Management Wiley

Innovation with Limited Resources: Management Lessons from the German Mittelstand

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References (155)

Publisher
Wiley
Copyright
© 2018 Product Development & Management Association
ISSN
0737-6782
eISSN
1540-5885
DOI
10.1111/jpim.12373
Publisher site
See Article on Publisher Site

Abstract

Practitioner PointsThe article:Identifies six key traits of Mittelstand firms that foster innovation despite potential resource constraints—traits that potentially may be emulated in contexts outside Germany.Offers insights on potential challenges in innovating and competing with limited resources.Provides policy makers both within and outside the European Union with strategies to enhance the innovation potential of small‐ and medium‐sized firms within their own countries.Provides a holistic and comprehensive understanding of the ability to innovate and successfully compete within a resource‐constrained context.Resources—defined as firm‐specific physical, human, and organizational assets (Wernerfelt, )—are at the core of firm strategies (Barney, ; Sirmon, Hitt, and Ireland, ). They can be tangible as well as intangible (Teece, Pisano, and Shuen, ) and enable companies to build valuable capabilities that lead to new or improved processes, products, or services, and ultimately provide competitive advantages over other organizations (Teece and Pisano, ). Given the scarcity of valuable resources, firms must find ways of acquiring and efficiently deploying such resources. While recent studies point to the importance of effective and efficient resource deployment to achieve innovation (Duran, Kammerlander, van Essen, and Zellweger, ; Sirmon, Hitt, Ireland, and Gilbert, ; Uhlaner,van Stel, Duplat, and Zhou, 2013; Van Burg, Podoynitsyna, Beck, and

Journal

The Journal of Product Innovation Management – Wiley

Published: Jan 1, 2018

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