How innovative is your firm? Where lie your strengths and weaknesses? Without high innovation output a firm could lose its long-term competitive advantage rapidly. To be able to transform into a high-output innovation firm, the first thing to do is to assess the firm’s current innovation throughput. An innovation audit allows a firm to identify key strengths and weaknesses in innovation, to better capture opportunities, and avoid pitfalls in transforming strategy, process, culture, resources and capabilities .
We offer a new and developed framework for innovation audit, one that bears in mind three major shifts that in different ways affect all firms:
- The shift from closed innovation to more open models, that often includes partners
- The shift from focusing solely on products to integrated product/services offerings, expanding the business in to new areas
- The shift from analog to digitalized behaviors, markets and products/services.
We look at your Innovation Process (From idea, through development, to launch), your Resources & Capabilities, your Innovation Culture and your Innovation Strategy/Business Model to assess your Innovation Performance. Applying the three shifts to all these parts of innovation often creates new insights.
The output is an assessment of your Innovation Performance – and guidelines on how to become a high innovation output firm.