The Waltons Principle is a principle that describes an SME-specific way of working within innovation processes. The principle is based on the assumption that in medium-sized companies, the involvement of as many employees as possible and the abandonment of inefficient measures contribute significantly to the success of innovation projects. The principle and the name were first formulated by Sabine and Jørn Rings.
The Waltons Principle assumes that innovation processes within companies are a combination of human actions and techniques used. Whereby the term techniques means both mental methods and concrete tools and facilities.
If this idea is followed, the success of innovation projects depends to a large extent on these two parameters. Lacking human support, in the form of employee input and concrete ideas, or using ineffective tools, reduces the chances of success.
Since in medium-sized companies the relationship between management (or owners) and staff is often very personal and hierarchies are correspondingly flat, the human factor plays a particularly important role here. Internal resistance and sensitivities can lead to the failure/stagnation of innovation projects, especially in the case of unusual-sounding ideas and their implementation in the form of new products, services, business ideas or process optimization.
In contrast to common innovation theories, which name a multitude of parameters for innovation success, the Waltons Principle reduces the necessary levers in medium-sized companies to the two essential pillars mentioned above. This should greatly simplify implementation, especially in less innovation-trained companies.
Planning an innovation project according to the Waltons principle preferably uses measures that promise the greatest possible employee participation and motivation and must be demonstrably efficient.
