Ferag receives high award for its innovative strength

The TOP 100 candidates were asked to demonstrate their innovative strength in five categories: In the category "Top Management Promoting Innovation", the measures with which the company management supports the development of ideas and their implementation were examined. In the category "Innovation Climate", the focus was on the corporate culture. The extent to which this is entrepreneurial and promotes creativity, a willingness to learn and dynamism was examined, as well as whether employees have the freedom to develop their own ideas. "What characterizes us at Ferag in terms of innovation is a good mix of young and old. A lot of experience, the courage to try something new and an unbiased view of what already exists and no fear of change. We also have some colleagues who can be described as lateral entrants. This brings a refreshing and unbiased view of existing processes and helps the continuous improvement process with new fresh ideas and to see everything from a different perspective. We are in a constant state of change in the industry, to which we have to adapt quickly, and we do this very well. Recognizing future needs also plays a big role," says Nikolas Baumann. 

Innovation process: from the idea to the market launch

The procedures and innovation processes in the company were examined in the category "Innovative processes and organization". Important for TOP 100 was how the process from the idea to the market launch is organized at Ferag, while "External Orientation / Open Innovation" focused on the cooperation with partners and customers. In the category "Innovation Success", it was examined whether all these efforts have led to concrete market successes or also to increased patent applications. "The customer deserves honest and professional advice. It is important to listen to the customer and speak his language. Our goal is to enter into a long-term partnership and to do so together with clients and partners, our Perfect Match." Nikolas Baumann sums up.

Prof. Dr. Nikolaus Franke has been the scientific director of TOP 100 for more than twenty years. He is the head of Entrepreneurship and Innovation at the Vienna University of Economics and Business Administration. Mentor of Top 100. The top-class jury of Top 100 consists of renowned experts from business, science, media and politics. The mentor is science journalist Ranga Yogeshwar.

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