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The Innovation Audit

Best Practices + Expert Insights

 

innovation audit process

The purpose of the Innovation Audit is to discover the exact strengths and weaknesses of your organization’s innovation processes and practices, and to determine the best ways to improve your performance.

The audit is organized around InnovationLabs’ groundbreaking innovation management framework, the Innovation Master Plan™. The Master Plan has been developed by working with hundreds of companies around the world, helping them to address critical innovation issues across the entire scope of innovation practice, from strategic thinking and portfolio management to the innovation process, the innovation culture, marketing, and sales.

The Innovation Audit has two primary objectives:

  1. Expert Insights
    • It provides you with an expert’s detailed assessment of your organization’s current innovation practices and processes so you’ll know what’s working and what needs to be improved. We examine both the critical quantitative and qualitative factors, giving you a comprehensive view of your organizations current capabilities, strengths, and weaknesses.
  2. Best Practices
    We’ll recommend the best and most effective ways to bring your innovation performance to a much higher level, including the Top 10 Action Steps, and 15 – 25 additional improvement opportunities to help you overcome innovation barriers, enhance your competitive edge in the market, and engage your entire team in implementing the key steps to quickly improve your innovation practices. 

    We address the most critical technical factors behind innovation performance, as well as the hidden cultural and behavioral issues that shape the human response to innovation and change.

The Innovation Audit Will Examine

  • 7 Technical Factors that are  Critical to Innovation Performance
    • Alignment of Strategy & Innovation
    • Innovation Portfolio Management
    • Research Process Assessment
    • Innovation Development
    • Alignment with Sales
    • Innovation Metrics & Rewards
    • Infrastructure Assessment
  • 7 Tacit & Cultural Factors that shape your organization’s Innovation Capacity
    • Innovation Culture Assessment
    • Creativity Assessment
    • Trust
    • Leadership
    • Mindset
    • Attitude
    • Tone

Comprehensive Audit Results

What You Receive

  • A Detailed Innovation Audit Report of your entire innovation practice by world leading innovation experts.  Typically 75 – 125 pages long.
    • Comprehensive diagnosis of your practice, tools, and methods.
    • Analysis of strengths and weaknesses.
    • A Customized Master Plan including the top 10 improvements you should implement first.
    • Recommendations highlighting 15 – 25 additional key Improvement Opportunities.
  • A private Executive Briefing for your senior team.
  • A half or full day Innovation Workshop to engage your entire organization in understanding and immediately implementing your
  • Innovation Master Plan.

innovation auditA Typical Table of Contents

  1. Introduction & Overview
  2. Executive Summary
  3. Top 10 Actions Summary
  4. Competitive Landscape & Key Industry Trends
  5. Innovation & Strategy Assessment
  6. Leadership Assessment
  7. Key Obstacles & Enablers Assessment
  8. Innovation Research & Targeting
  9. Innovation Process Assessment
  10. Innovation Culture & Attitudes Assessment
  11. Organizational Development for Innovation
  12. Needed Creativity Boosters
  13. Innovation Pipeline and Portfolio Assessment
  14. Innovation Infrastructure Assessment
  15. Open Innovation Strategies & Resources
  16. Comprehensive Action Plan
  17. Additional Recommendations
  18. Appendix A – Detailed Survey Results
  19. Appendix B – Interview Transcripts

Use the Innovation Audit as Part of Creating Your Own Innovation Master Plan

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