German companies in the mechanical engineering industry and especially in the automotive industry are facing strong dynamics in the technical, political and social environment. Developments like the Internet of Things lead to a massive technological change. In consequence, product complexity and development effort are rising and at the same time product lifecycles shorten. The continuous improvement of existing skills is no longer sufficient for a competitive market position. Also, sustainable success cannot be achieved by frequent short-term refocusing on promising markets. Companies must be able to plan ahead the competence needs of their future products and to initiate the competence development early.The aim of this thesis is an approach for innovation-oriented competence planning. The approach provides measures for the strategic competence development. First, an analysis of the companys strategy, present technologies and applied competencies is conducted. Then, the competence demand of a product concept is determined. The following evaluation of missing competencies leads to recommendations for their sourcing. Finally, concrete advice for the development of competencies is provided. The approach is supported by a knowledge management system. The validation in the automotive industry verifies its practicability.