This work introduces an approach towards auditing the innovative and creative capabilities of organisations. It shows four main pillars of these capabilities, gives credit to respective literature and provides questions to ask in an actual audit.
Table of Contents
1 INTRODUCTION
2 THEORETICAL BACKGROUND
2.1 CURRENT STATE OF INNOVATION AUDITS AND BEST PRACTICES
2.2 TOWARDS AN OWN SET OF INNOVATION AUDIT QUESTIONS
Objectives & Core Topics
This work aims to address the common managerial challenge of identifying existing innovation efforts and assessing a company's true innovation potential. By reviewing established audit frameworks, the paper develops a structured innovation and creativity audit tool designed to evaluate and enhance an organization's internal capabilities for generating and implementing new ideas.
- Analysis of existing innovation audit models and best practices
- Evaluation of organizational innovation strategy
- Assessment of creativity and idea formation processes
- Examination of innovation workflows and project management
- Investigation of organizational culture and interpersonal dimensions
Excerpt from the Book
1 Introduction
Today’s business world is influenced by such rapidly changing consumer needs and technological advancements that many markets actually have entered a state of hyper-competition (Rifkin, 1996). Such an intense and fast-paced state of competition could allow any company to penetrate almost any market and take over business sectors so that the concept of long-term competitive advantages does not apply anymore (Financial Times, 2016). A recent example on this is Uber and the takeover of the European taxi market (Smith, 2014).
So to ensure sustainability of a business under these circumstances, there is a need for companies to constantly innovate, allocate resources accordingly, take full control of all efforts regarding innovation and include stakeholders to steer them in the right direction. The Harvard Business Review authors Nagji and Tuff’s (2012) study highlights that most successful companies allocated 70% of their innovation efforts to core initiatives, 20% to side activities and 10% to transformational activities.
The worth of a well-directed innovation effort seems indisputable. However, a huge problem seems to arise beforehand as it is mostly unclear to managers which innovation efforts are already within their company and what the actual innovation potential of the company is (Nagji and Tuff, 2012).
This work therefore focuses on the assessment of these innovation efforts such as the company’s ability to stimulate innovation and foster creativity in regard to the employees’ abilities in order to increase their idea generation capabilities by developing an innovation and creativity audit framework leading to potential innovation (Marshall, 2013).
Summary of Chapters
1 INTRODUCTION: This chapter highlights the necessity of constant innovation due to hyper-competition and introduces the objective of creating an audit framework to assess organizational innovation potential.
2 THEORETICAL BACKGROUND: This chapter reviews established models like the McKinsey 7-S framework and the Innovation Diamond to identify patterns, subsequently proposing a new audit approach based on four pillars: strategy, creativity, process, and culture.
Keywords
Innovation Audit, Creativity, Innovation Strategy, Hyper-competition, Idea Formation, Organizational Culture, Knowledge Transfer, Innovation Management, Business Sustainability, Competitive Advantage, Resource Allocation, Innovation Process, Corporate Strategy, Market Gaps, Talent Management.
Frequently Asked Questions
What is the primary focus of this work?
The work focuses on designing a comprehensive audit framework that allows managers to assess their company's internal innovation efforts and identify their true creative and innovation potential.
What are the central thematic areas of the audit?
The audit centers on four primary pillars: innovation strategy, creativity and idea formation, the innovation process, and organizational culture.
What is the main research objective?
The objective is to provide a structured tool for organizations to evaluate their ability to stimulate innovation, thereby increasing their capacity for idea generation and successful commercialization.
Which methodology is employed in this study?
The study employs a theoretical review of existing management models and innovation audits, synthesizing their strengths to create a holistic, customized audit framework.
What does the main body of the work cover?
The main body examines existing best practices, such as the McKinsey 7-S model and the Innovation Diamond, and transitions into the conceptualization of a new, four-pillar audit model.
Which keywords best characterize this publication?
Key terms include Innovation Audit, Creativity, Innovation Strategy, Organizational Culture, and Competitive Advantage.
Why is the "Innovation Diamond" considered a relevant model in this study?
It is highlighted for focusing on four domains, including product innovation, technology strategy, and portfolio management, which are essential for facilitating an innovative climate.
How does the proposed framework differ from the McKinsey 7-S model?
While the study incorporates the systemic approach of McKinsey, it aims to minimize the "static" nature of that model by focusing specifically on active, process-oriented pillars designed for practical implementation.
- Arbeit zitieren
- Felix Zappe (Autor:in), 2017, Designing and executing an Innovation and Creativity Audit, München, GRIN Verlag, https://www.grin.com/document/358196
