Background: The Munich based Bayerische Motoren Werke AG(BMW)automobile company grew into one of the leading automobile producers in the world by the 1990s, and radically changed the way BMW was handling “innovation process management” at its automobile division.
Goals: To develop and demonstrate exceptional skills in constantly creating and capturing value, through its innovations and development of new products.
The new innovation management system was developed and implemented in the 1990s. Let innovation be the driving force for its product development process throughout the late 1990s.
BMW’s innovative strategy- Based on four main pillars
In-house R&D and investments in long-term and risky projects[pic] [pic]
Establishing an innovation culture and working environment
(1)BMW was able to exploit various path breaking technological innovations, right from the idea generation stage to the market introduction stage. (2)The company was able to develop continuous stream of new products and brands. (3)BMW successfully withstood competitive pressures and held on to its market position, and established itself as one of the leading players in the premium segment of the global automobile market. (4)BMW was awarded the Outstanding Corporate Innovator(OCI) title for 2002 by the Product Development & Management Association(PDMA).
Innovative concepts and technologies
The long-term energy strategy of the BMW Group – innovations for lower consumption. It is the most effective concept worldwide for ensuring the long-term sustainability of individual mobility, and it is the framework for guaranteeing the ecological, economic and social viability of our future. | The Efficient Dynamics strategy is based on four main approaches or "pillars" to promote sustainability. The first is focused on the | |optimisation of petrol and diesel engines to...
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