DGAP-News: Nabaltec AG / Key word(s): Miscellaneous
Nabaltec AG receives award for innovation for the tenth time
Schwandorf, 26 June 2017 -Nabaltec AG was once again recognized as one of the most innovative German small and mid-size companies in 2017. In recognition of its record as an innovator, the company received the "TOP 100" award for the tenth time at the Deutscher Mittelstands-Summit (the German Small and Mid-Sized Companies Summit) on 23 June 2017. In the independent selection procedure, the company received particular praise for its innovative management.
"For us, receiving this particular distinction once again this year is further confirmation of how innovative and forward-looking our company is," said Johannes Heckmann, Nabaltec AG's CEO. "This is due above all to our motivated and committed employees, who work every day to make Nabaltec AG and its products an innovative industry leader."
The company's innovative management was given particular stress in this year's independent selection procedure for putting into place the entire process for promoting innovation within the company. Top innovator Nabaltec, formed in 1994 and with 455 employees in Germany in 2015, has created an "innovation management/patents" department in order to minimize administrative expenses for innovative ideas. "This ensures that every idea, however crazy, will make its way to the decision-makers, rather than being left hanging somewhere in orbit," explained Johannes Heckmann. The prize is awarded based on a company analysis conducted by the Department of Entrepreneurship and Innovation at the Vienna University of Economics and Business in various categories, examining the process of innovation within the company's organization, such as the company's management and innovation climate, as well as innovation success and marketing. Among the "TOP 100" companies are 101 national market leaders and 26 global market leaders.
"Successful innovators often face headwinds: they alter processes, break rules in their industries, suffer setbacks and nevertheless dare to try something new. They persist, driven by the conviction that they are making the world a better place. That's what distinguishes them," said Ranga Yogeshwar, the mentor of the competition. Innovation management is an area of great importance: on average, around 38% of revenues posted by companies in the above category were generated through innovations and product improvements. Their revenue growth rates over the past five years were 20 percent higher than the growth rates of their respective industries.
"Under our innovation management system, all Nabaltec AG employees can contribute their ideas for optimizing products and processes. This has made it easier for us to pursue new developments," said Dr. Reiner Sauerwein, head of the development and application engineering department, who accepted the award this year on behalf of Nabaltec AG. "We systematically collect and examine all ideas using a database. Processes like this are a major factor in helping our company succeed. It promotes creativity within the unit while at the same time motivating our employees, who can participate directly." In its selection procedures, Nabaltec AG employs practical tests with a focus on experimental execution. This allows the company to more quickly discover forward-looking innovations and develop them from the first test application.
About Nabaltec AG:
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt|
|End of News||DGAP News Service|