EWM is once again one of the top 100 most innovative SMEs in Germany this year. This news comes as a result of the “Innovation Champions 2021” study completed by business consultancy firm Munich Strategy on behalf of WirtschaftsWoche, a German business magazine.
Munich Strategy looked at over 4,000 German companies with annual turnovers between 10 million and 1 billion euros. The top 100 “Innovative Champions 2021” were chosen from a pool of 400 finalists, all of which impressed with their latest innovations as leaders in their respective industries.
The final selection was based on an “innovation score”, calculated using the company’s innovativeness (two-thirds weighting) and performance (one-third weighting).
To determine the company’s innovativeness, the study examined to what extent the company distinguishes itself through continuous innovation (innovation vitality), whether they are categorised as innovative by their competitors and the market (innovation perception), and whether they sustainably invest in innovation (R&D and tech power). Performance is calculated using the company’s growth in sales, profit and EBIT growth over the last four years.
“The most innovative companies create real added value for their customers that goes far beyond just the product,” explains Barbara Siegert, innovation expert and author of the study that has now been completed for the eighth time for WirtschaftsWoche. “Internal processes and production processes are improved, traditional business models are more and more replaced by customer-oriented digital products and services.”
The results of the ranking were published on 16 July 2021 in WirtschaftsWoche (Issue 29/2021) and on 18 July 2021 at www.wiwo.de .