Small to Mid-Sized Manufacturing Firms: Unique Innovation Challenges

If you operate a small to mid-sized manufacturing enterprise (SME), how are you going to grow revenue and earnings? Every company relies on organic growth of their core products. For most that is typically not enough to sustain the business long term. Geographic expansion and acquisitions can help in some circumstances but long-term, a company must innovate or the business will stagnate and be eclipsed by competitive forces. This is especially true in today’s hyper-competitive environment (1).  Continue reading

Ignoring the Role of Innovation: A Disturbing Trend?

There are many paths to grow a company’s revenue and earnings. That topic typically consumes the majority of management bandwidth. Organic market growth, geographic expansion and acquisitions are all viable strategies. But are you ignoring the role of innovation? Surprisingly, a recent survey suggests many are.  Continue reading