Measuring Innovation Potential.
Breaking down Innovation into components such as those defined in the Innovation Equation has one huge advantage. All of these things are measurable, so your organisation can see the benefits of any innovation project that it undertakes. Because the areas examined are related to ‘soft skills’ the same techniques can also be used to measure the effects of cultural change programs. Although the results are not directly comparable between organisations, the trends shown in the graphical outputs are, thus it is possible to spot both problem areas and areas of excellence as well as learning from your competitors. Find out how you can measure innovation potential and kick start your own program using the Innovation Potential Indicator (formerly Innovation Toolkit).
The advantage of this approach is that you do not necessarily need to spend money across the whole organisation. Scarce resources can be carefully targeted so that you get the best value for your money.
The Innovation Potential Indicator is an extension of the Innovation Equation. It allows measurement of drivers for Innovation in 3 key areas:
- Innovation environment (culture, risk, leadership, and management, barriers etc)
- Creativity (how organisations generate and manage ideas and solve problems)
- Knowledge (the things you already know and how you make use of this and learn).
The information provided here is just an overview. A brief overview is available in PDF format by clicking on the link below. If you require more detailed information then please get in touch. I can provide detailed information as well as an example report of the type suitable for presenting to a Board of Directors or Top Management Team. Information on all products and services is available in PDF format on request. You can download an overview of the Toolkit here Innovation Toolkit and also more detailed information by clicking here Innovation Toolkit - Extra.
The Innovation Potential Indicator – the ONLY useful way to determine the Innovation capacity of your organisation
Benefits of using the Innovation Potential Indicator:
- Demonstrates your current capacity for Innovation
- Highlights areas for improvement
- Can be administered in a number of ways
- Requires minimum time investment from staff
- Provides a comprehensive report and action plan
- Allows for variable cost options
- Complements existing tools
- Works at all levels within an organisation
As a result of managing Innovation effectively you will:
- Generate better ideas
- Retain ideas and know-how within your organisation
- Remove or reduce the barriers that exist within your organisation
- Create an improved working environment
I’m interested, what do I do now? Let’s talk!. I can advise you as to the best method of conducting the surveys and the exact cost of doing so. Please also read the remainder of this page.
The need for a measurement tool.
In the current economic climate, there is significant pressure to produce greater output for the same cost or for the same output at reduced cost. Either way we must find alternative ways of providing products and services to our customers.
In order to manage Innovation successfully, you need to be able to define it within your own environment and then measure it. I use an Innovation model which is flexible enough to do this and which leads logically to the Innovation Toolkit.
What does the Innovation Potential Indicator consist of?
The Indicator consists of three phases; Analysis, Action and Review. During the Analysis phase your organisation is analysed using a set of surveys that can be administered either by you or myself in a number of different ways. The results are then compiled into a comprehensive report.
The Innovation report.
The report is created using the results from 4 different types of survey. The first shows the overall Innovation capacity. Examples of the graphical output are shown below.
Fig 1 – A successful low cost airline
Fig 2 – A major international airline
The two plots above compare two airlines and give clues as to the major differences between them. Each plot represents a target, the closer to the centre they are, the more ‘ideal’ the innovation climate.
The Creativity and Knowledge climates are analysed in detail and the trends shown using more traditional graphs. Finally, the advice, trust and communications networks can be analysed in the context of the current state of the organisation and any changes that are currently being made.
How are the surveys carried out?
Depending on the number of staff involved, the time investment required from each person can be as little as 15 minutes or less. The surveys can be completed using pen and paper, a Microsoft Word template, individual interviews, group workshops or survey tool. The method used depends entirely on your need or circumstances. I can advise you of the best method for your organisation.
Are you curious to find out more about how to make your business future ready, make your different ‘different’ and do this without spending too much money? If so then let’s talk.