Innovation Audits
C W Mobbs
April 2011
What are Innovation
Audits?
•
•
They are an in-depth analysis of different
aspects of an organisation’s current innovation
capabilities, procedures and processes,
examining key indicators, determining strengths
and weaknesses;
The results of the audit will highlight barriers to
innovation, as well as identify improvements or
new methods to maximise innovation
capabilities.
What are the Benefits of
Innovation Audits? (1)
•
•
•
•
The audit enhances the company’s innovation
capability;
It identifies opportunities for increasing
innovation;
It clarifies where the organisation needs to focus
to maximise innovation success;
It embeds innovation in the company’s
processes;
What are the Benefits of
Innovation Audits? (2)
•
•
•
•
The audit can build on individuals’ creativity to
be innovative;
It can identify and control the barriers that stifle
creativity and innovation;
It fosters innovation in the organisation’s culture;
It can align the organisation in common purpose
and action.
Audit Framework
• The innovation audit
framework reviews five
main areas:
• Innovation strategy;
• Idea generation;
• Selection;
• Implementation; and
• Organisation.
Innovation Strategy
• The innovation strategy
performs two vital roles:
1) It provides a direct link
with the organisation’s
corporate strategy;
2) It provides a framework
and guidance within
which to direct the
organisation’s
innovation efforts.
Idea Generation
• Ideas are the life-blood
of any organisation’s
innovation effort.
• It is critical that there
are processes,
procedures and
methods in place to
capture ideas from a
diverse range of
sources.
Selection
• Whilst idea generation
is critical, knowing
which projects to
pursue can make or
break the innovation
effort.
• Resources spent on the
wrong projects divert
necessary funds and
time from those which
might prove successful.
Implementation
• By definition,
innovation includes the
successful, commercial
exploitation of the idea.
• As such, making it
happen defines the
culmination of the
whole innovation
process.
Organisation
• Successful innovation
requires more than
processes. It requires
the whole organisation
to have an innovative
ethos. This includes the
need to have
appropriate HR
practices, an
appropriate corporate
structure, real and
demonstrable top
management support,
and a culture built
around innovation.
Conclusion
•
•
Innovation audits assist organisations to improve their
innovation capabilities. Innovation for Growth undertakes
a desktop audit based on an on-line survey, with a follow
up report. Alternatively, a more detailed audit can be
undertaken which uses the on-line survey as the basis for
a more comprehensive review utilising face-to-face
interviews.
For more information, email Innovation for Growth or see
our website: www.innovationforgrowth.co.uk
About Innovation for
Growth
•
•
•
•
Founded in 2010, Innovation for Growth is a business
consultancy firm that specialises in the provision of advice to
small and medium sized enterprises. We work with
companies from all sectors undertaking innovation audits, and
providing innovation advice so our clients can maximise their
innovation capabilities and achieve their growth aspirations.
We also undertake desktop, business research and analysis,
enabling our clients to concentrate on running their business.
For more on our services, please download our Corporate
Services Document.
© 2011 Innovation for Growth