Which project do you remember in particular?
Georg: The most exciting projects- regardless of the industry- are always those that really involve getting innovations “on the road”- in other words, ensuring that new products, services, or business models are implemented. To do this, the appropriate organizational framework must first be designed and created. There are a few projects that I remember as being very exciting. However, if I may highlight one specific project, it is the one with an international listed company from the financial sector.
What was the starting point with the customer like?
The initial situation with the customer (around 50,000 employees, active in more than 15 countries) was characterized by the need to establish and expand innovation management and then to strengthen the company in digital transformation. Furthermore, it was also crucial how the company should position itself in relation to startups that, without a brand legacy, had specifically tried- and were still tying- to win over the most attractive market segments for themselves.
The client was therefore faced with very diverse and exciting challenges. From finding the optimal management leader for innovation management to the development of the innovation strategy and the design of proper structures and “innovation vehicles.”
What was the specific objective & requirement for you as a consultant?
Georg: My task was to provide support with my expertise, particularly in the early phase of setting up innovation management and the associated measures described above. But even today, about three years after the project kickoff, I am still in contact with the innovation team. We are currently evaluating further steps, approaches, processes and structures that will enable the realization of exciting growth potential beyond the core business.
What did the solution & implementation look like?
Georg: In general- as in the project described- I prefer to work as part of a “hybrid” innovation team, so to speak. In the intensive project phases, I am also very involved operationally and often on site. This can also go as far as temporarily taking over the leadership of innovation management. In other phases, I act more as a “sparring partner” that uses their project and industry experience to support teams in developing optimal solutions, structures, and processes.
What successes have been achieved? What has been accomplished?
Georg: It’s incredible when I see where the customer is today, considering that the establishment and expansion of innovation management began just three years ago. From my point of view, the company is now excellently positioned in its industry, but also beyond it, to master the transformation of the organization itself. We are currently evaluating the next steps, which will certainly bring the company the status of “Innovation Leader”.
We want to thank Georg for this exciting insight. If you would like to meet our innovation expert, or another consultant from our pool of experts, just contact us and we will be happy to arrange an appointment.
Georg studied business administration as well as economic law at the University of Economics and Business in Vienna (Austria) and the University of Miami (USA). As a visiting scholar at Zeppelin University in Friedrichshafen (Germany), his research focused on business model innovation. Georg completed his dissertation under the supervision of Prof. Kurz Matzler at the Institute for Strategic Management, Marketing and Tourism. At the University of Innsbruck in Vienna.
He works as a consultant for strategy, innovation and business model projects ranging from internet startups to publicly listed companies. In addition to his academic career, he has already worked with various companies on strategy, innovation and business model projects- from internet startups to listed corporations. For example, as a member of startup teams, he was able to transform visions into concrete strategies, business concepts and rollout plans. He also helped to establish the business model innovation approach in a multinational company in the automotive industry by bringing current research findings into management practice.