Supporting Innovation Management for SMEs: A Tool for Idea Selection

In innovation management, usually there is a large number of product ideas, not all of which meet the requirements of a company and make sense to pursue further. For selecting the most promising ideas, several methods exist which each focus on a certain aspect. Due to the characteristics of Small and Medium Enterprises (SMEs) such as limited resources, these enterprises have special requirements on methods for selecting ideas. In this study, criteria of SMEs for idea selection are deducted from SME-characteristics. Methods for idea selection are tested for fulfillment of these criteria and the results are combined in a matrix. Together with a guideline, a tool for idea selection in innovation management of SMEs is developed. The results are validated in the context of innovation management in SMEs. By selecting a method, a SME is enabled to make economically viable decisions for their product portfolio, thus ensuring sustainable economic success.