To ensure the future viability of companies, it is essential to integrate all the different interest groups/stakeholders in the best possible way. Effective stakeholder management is crucial for the success of innovations, especially for small and medium-sized enterprises (SMEs). SMEs need to use their resources very carefully. With the help of a stakeholder-oriented innovation process, companies can analyze which stakeholders make what contribution and derive strategies from this. Using different participation techniques such as joint workshops or scenario analyses, the company can include the identified stakeholders, understand their positions and incorporate these into decision-making processes. Interacting with stakeholders in this way offers high value-added when generating, evaluating and realizing ideas.