Management, also called organizational innovation is an essential driver of business renewal, notably in the case of service firms, where technological innovations and scientifically based R&D are of less relevance than in manufacturing. In this article, we analyze the role of management innovation as a source of value creation for firms. We draw on commercial archaeological activity in Spain as a case study of a growing business activity closely related to knowledge-intensive, specialized services. Innovation dynamics in archaeological firms set the base for analyzing the significance of organizational innovation in corporate development and renewal. Finally, the paper explores the strategic and organizational impact of management innovations on specialized services.