In larger organisations, innovation takes place everywhere, and it is difficult to keep track of where the innovations are taking place. It could be incremental innovation projects in HR or new product development in Product and Marketing departments.
We know that many employees have good ideas. But many don’t quite know where or how to get these brought forward, assessed and realised.
It is constantly communicated that “we focus on innovation”, but what is the innovation culture like in the company? Do the employees, partners and customers think that the company is innovative? What does the innovation portfolio look like today, is it future-oriented enough?
At least once a year, it is important to take the pulse of how the company’s innovation work is doing in order to see where improvements need to be made.
Innovation Quality Index
Innovation Quality Index is a measurement, which supports the ISO standard for Innovation 56002, and measures important areas described below.
- Innovation Culture:
- Does the management focus on innovation
- Does the business dares to fail, and are they good at learning from their mistakes and experiences
- How involved are the employees in the innovation process?
- Is it easy for employees to come up with ideas and suggestions?
- How is the collaboration across the organization in different departments and teams
All of this affects the innovation culture and gives an indication of whether the company has a good innovation culture with committed employees who feel involved and motivated to work with innovation. Perhaps the importance of innovation culture is something that is only communicated from management, but is not reflected in the general culture of the organisation. In addition, the Innovation Quality Index says something about very important areas within Innovation:
- Innovation Activities:
- Takes the pulse of how the business measures innovation (often it is not measured)
- Which KPIs does the organization use
- How are incremental, fringe and disruptive innovations respectively measured
- The Innovation Portfolio:
- Is the portfolio diversified in relation to new business models
- The future picture for the portfolio
- Is it a strong or weak portfolio etc.
- Customer Perspective:
- To what extent are customers involved in innovation projects
- What do the customer segments look like?
- To what extent is experimentation and testing part of the company’s innovation process
- Innovation Ecosystem:
- To what extent is the innovation process based on collaboration with others in their ecosystem (partners and external)
- Investments in external companies / projects etc.
- Innovation Visibility:
- To what extent is the business visible and innovative in society
- Do employees feel that the company is innovative
- Is the business attractive to new talent
- Innovation Maturity:
- What does the strategy look like to secure concepts and IPR
- Preventive measures to reduce risk
- Degree of implementation of disruptive innovations
- Understanding of trends in the market
- Degree of understanding and inclusion of the UN’s sustainability goals in the company’s strategy.
The Innovation Quality Index can be measured in InXight’s solution Innovation Orchestrator, a solution for qualifying, measuring and managing innovation initiatives in companies.
Feel free to get in touch to measure the innovation pulse in your company
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