Business Development in SME - Good Practices and Recommendations : Presentation of Research Results in "Innovation in Practice" Track
- Small and medium-sized enterprises (SMEs) play a pivotal role in the economy, representing 99% of companies in Germany and employing over half the workforce. Despite their importance, many SMEs lack the capacity, structure, and expertise needed for effective business development (BD). This limits their ability to manage complex innovation initiatives and adapt to changing market conditions. A study involving SMEs in the Lake Constance region revealed that BD responsibilities often fall to CEOs or sales managers without dedicated roles or explicit budgets. While SMEs demonstrate technological strengths, they face challenges in project management, economic evaluation, and external recruitment. The findings emphasize the need for defined BD roles, targeted training, and strategic use of digital tools and AI to address resource gaps. Practical recommendations include allocating specific budgets, developing internal competencies, and leveraging AI to streamline data analysis and decision-making, enabling SMEs to thrive in dynamic environments.
Author: | Stefan Waitzinger, Florian Blaschke |
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Parent Title (German): | XXXV ISPIM Innovation Conference, 9-12 June 2024, Tallin, Estonia |
Document Type: | Conference Proceeding |
Language: | English |
Year of Publication: | 2024 |
Release Date: | 2025/01/13 |
Tag: | Business Development; SME; Optimization |
Institutes: | Fakultät Wirtschafts-, Kultur- und Rechtswissenschaften |
Relevance: | Keine Relevanz |