Posted By: Bala
Innovation Minds created a simple 8-part Corporate Innovation Assessment, which will give you:
- A temperature check on where you are at in your innovation journey in the innovation maturity scale.
- A deeper look into where your organization excels when it comes to corporate innovation.
- Areas of opportunity to explore further and a recommended starting point around how to create or accelerate your corporate innovation initiatives.
It is designed to help stakeholders understand how they’re doing with their program and identify opportunities for improving and scaling, all based on our unique expertise in working with multiple companies to kick-start and grow their innovation efforts. The tool will assess if innovation leaders are truly building successful programs and optimizing every stage of the idea lifecycle: idea development, testing, piloting, and launch process.
What and how we assess corporate innovation and R&D programs?
How the scores are calculated by our assessment?
The above exercise is pretty quick. It can be completed by any stakeholder in about 15-30 minutes, and results in a visual way to represent where one’s Innovation Program technology sits in comparison to industry benchmarks. Additionally, it can be completed by multiple individuals within an organization to calibrate a mutual understanding between their collective Innovation Program departments and/or other internal stakeholders. Maturity (scale of 1 to 10) is explained below.
- Just realized – Process not in place, however there is a realization of the need.
- Initial (chaotic, ad hoc, individual heroics) – the starting point for use of a new or undocumented repeat process.
- Repeatable – the process is at least documented sufficiently such that repeating the same steps may be attempted.
- Defined – the process is defined/confirmed as a standard business process.
- Capable – the process is quantitatively managed in accordance with agreed-upon metrics.
- Efficient – process management includes deliberate process optimization/improvement.
- Innovator – Started challenging status-quo and incremental innovation started at the edges.
- Disruptor – Tangible impact of the innovation has been proven, started institutionalizing the sustainable.
- Market leader – You are nailing it.
- World class – The true north of all.
And the final Report is:
** Blue bar represents Innovation Minds benchmark baselined from 25+ companies we worked with, and the black line represents where you may stand.