Innovation Audit

Topics: Innovation, Marketing, Product management Pages: 4 (1042 words) Published: June 20, 2012
o i solutions limited
Innovation Audit
See the gaps in your innovation and develop plans for new products, services, processes and cost savings. Below is a summary of the Audit we recommend and can conduct. The full Audit varies dependent upon the organisation. Key Issues There are hard and soft factors that will determine how innovative an organisation is. Those key factors: • CEO and Board Commitment • A Learning Organisation ie being open, adaptive and forward thinking • A culture that encourages innovation • It has an Innovation Management Process • It has Integrated Marketing The term audit is recognised in finance, business and marketing. Marketing audit is the review that takes place in the Marketing Plan. The Innovation Audit has no commonly accepted universal template or ISO standard. o i solutions limited Innovation Audit has been developed based upon experience from global innovation techniques and services including Jenni and chartered marketing services using recognised CIM approaches to strategic challenge such as new product development. Peter Eales is a CIM Fellow, SE Board Member and plc Marketing Director by background. The Audit Questions to be Addressed We adopt the McKinsey 7S framework Strategy • • • • • • • • Does the organisation produce a Strategic Plan? How often? Does the organisation produce a Strategic Marketing Plan? How often? What does the product portfolio look like? Product life-cycle? Customer Satisfaction measures? Innovation Diffusion Curve pattern? ie all issues from the planning and marketing audit Is innovation a named topic within the plan(s) or is it covered? Is innovation in cost saving named or covered Is innovation in processes named or covered? Is new product development named or covered? How does the organisation manage change?

Structure Roles and responsibilities: o Is there an R&D function o Is there and innovation manager or team? o If no to the above, who handles questions / issues on the above? o What is...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Innovation Process Essay
  • Creativity and Innovation Assignment: Strategies for Improvement Essay
  • Essay about INNOVATION
  • Innovation Essay
  • Product Innovation Essay
  • Innovation Management Essay
  • Organisational Innovation Essay

Become a StudyMode Member

Sign Up - It's Free