Academy of Marketing Conference edition:47 location:Bournemouth date:7-10/7/2014
Europe's future economic growth and jobs will increasingly have to come from innovation in products, services and business models in order to cope with the changing world and to maintain the actual competitiveness and living standard. The International Innovation Labs is conceived as a collaborative tool between higher education institutes (HEIs) in three EU member states and SMEs to stimulate innovation processes in marketing communication. Undergraduate business students are coached by their lecturers to tackle genuine business problems faced by SMEs. This working method offers students authentic case studies as part of the experiential learning paradigm. The SMEs, coping with limited staff and resources, benefit from a feasible and external account of their business problem. From this case-based research, a systematic 5-steps approach for business model innovation in SMEs is developed, not only to successfully guide these companies through the different stages of a business innovation process but also to stimulate the competencies and attitudes essential for innovation amongst their staff.