Advanced Innovation Management: Best Practice of German and American Corporations in the Mobility Sector

Abstract

Many established corporations are currently seeking to adapt their business models and required innovation frameworks in order to compete with digital businesses based on radical innovations and disruptive technologies. This study has the purpose to examine advanced approaches of innovation management that are applicable for a successful transformation of firms' innovation activities. Semi-structured qualitative expert interviews (n=19) have been conducted in Germany and the USA between March and September, 2017. Results include the need to build up technology driven competencies within the corporation instead of mainly relying on external resources. In order to avoid the loss of digital talents, corporations should consider advancing their incentive schemes including a flexible performance measurement. Further detected findings refer to approaches regarding the funding of innovation projects, cooperation with partners, as well as culture and internal structures required for innovation. Presented recommendations will help corporations to fine tune their innovation activities by learning from insights into various multinational firms from the mobility sector. Furthermore, this research serves as a basis for further studies that intend to broaden the understanding of modern innovation management in the era of digital transformation.