Innovation Audit

THIS PAGE IS A WORK IN PROGRESS

Audit the company orientation

Allocate budget to decisions

The Audit

questions for audit
innovation to the core pg 27

  • Assess the organisations approach to innovation in the areas of strategy, process and coordination, and evaluate its strengths and weaknesses with respect to business goals and obectives
  • measure other relevant factors critical to innovation success
  • quantify the issues and obstacles to innovation
  • establish quality standards for assessing innovation capability and performance and measure the organisations performance aginst the standards

Measures of Innovation

Qualitative

  • Surveys – Customers, SMT, Staff sentiment, net promote score

Quantitative

  • Throughput of NPD and measurement feedback
  • Ideation per employee, department, into output
  • Investment, ROI, ROA, ROE
  • Profit from NPD, customer loyalty, RFM of NPD

Accuntability for measures

  • Cross functional teams, functional heads, CEO, everyone culture

Frequency of measures

Dependent on scale, product/service, duration/time-frame of value, resource availability for taking the measures, situation dependent.

Targerts – benchmark + agreement on increase

Balanced set

Innovation inhibitors

  • public funding
  • regulation
  • lack of process, straegy, resource
  • culture

The ease of innovation depends on the sector you are in.

Facilitates innovation

  • Intellectual property
  • Screening process – based on capabilit
  • Leadership
  • Measurement
  • Positive deviants

Investment appraisal analysis – how much invested in innovation. And financial measures of return.

The audit looks for the practical/changeable innovation constraint.

Compare industry analysis. Mintel, eConsultancy, Jupiter, etc.

Recommendations

Recommendations must relate to the audit. With a numerical support of decisions.

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study and critically appraise theories, concepts and models relating to creativity, innoation and NPD

measure how successful the organisation is at integrating all disciplines across the orgnaidastion in response to its custoers and other stakeholders. from a straegic perspective

linked closely to busines goals and projections for future growth. comparative benchmark data on busines development and performacne will help to establish how succesful the rgansation is ,compared ot others in the sector,

consider implications that changes to structure or poroess, culture and/or management style may bring. identify specific advantages of recommendations. illustrate how the creative process can be improved.

how to encourage others to adopt new practices. strategies for overcoming resistance to change should be included.

the audit

to estanblish strenghts and weaknesses of current innovation and NPD processes. Factors include:

vision and desire for innovation
delegation and empowerment
attitudes to risk and blame
strategic business screening and proposal evaluation
transition from design to production
management of concurrent activities and collaborative projects
speed to market

Quality standards to be used to measure performance, important to allow for both methodical and commercially viable proess balaned with flexibility and crativity.

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