Endress+Hauser receives innovation award
TOP 100 Award recognizes successful innovation management
It’s an important confirmation for the course that Endress+Hauser is taking in innovation management: The company is a recipient of the 2021 TOP 100 Award which recognizes innovative small- and medium-sized enterprises (SMEs) in particular.
The TOP 100 competition examines whether innovations are the result of a planned approach or simply coincidental, in addition to looking at how the solutions fare on the market. The award recipients are determined through a scientific selection process. A team led by innovation researcher Dr Nikolaus Franke from the Vienna University of Economics and Business created 120 evaluation criteria.
It was the first time that Endress+Hauser Level+Pressure participated in the competition. The family company, based in Maulburg, Germany, develops and produces instruments and services for level and pressure measurement as well as inventory management solutions.
Ownership and innovation skills as a goal
According to the researchers, Endress+Hauser scored best in the categories of Processes/Organization and Innovation Climate. These criteria revolve around how innovation processes are organized in the company and to what extent the work atmosphere enables worker creativity.
For this reason Managing Director Dr Peter Selders is particularly pleased with the award. “Our primary goal is to give our employees more independence and more responsibility. With this in mind, we want to encourage them to chart new paths and develop themselves and their innovation skills.”
Number of completed projects more than doubled
As evidence that the company is focused on its ability to innovate, Endress+Hauser can point to its employee training programs as well as the creation of an innovation lab and getting executive management involved in the innovation management process. The innovation lab is designed to serve as a breeding ground for new approaches and business models and to transfer successful methods into the core business.
According to Peter Selders, the crucial factors for accelerated processes are the use of methods such as so-called critical chain project management. Here the focus is on project bottlenecks and their optimization. “We managed to more than double the number of completed projects per year with the same team strength,” says the managing director.
One more reason to celebrate
For Endress+Hauer the selection as one of the TOP 100 innovators is the second award within a short period of time. In May a team at the company received the innovation award from the AMA Assocation of Sensor and Measurement Technology for the development of a multisensor system for breweries.
German science journalist Ranga Yogeshwar will present the TOP 100 trophy to Endress+Hauser during the 7th German SME Summit in Ludwigsburg in November. Ranga Yogeshwar supports the innovation competition as a mentor. Other project partners include the Fraunhofer-Gesellschaft and the BVMW SME Association.