What are Innovation Audits?
What are the Benefits of Innovation Audits?
The innovation audit framework typically review five main areas:
An Organisational Innovation is the implementation if a new method in business practices, management hierarchy or workplace organisation. Organisational Innovation typically is broken down into Leadership/Strategy, People and Place.
A Product Innovation is the introduction of a new or improved product. The improvement can be functional, technical, relating to components or materials, or it might relate to user friendliness.
A Process Innovation is an improvement in production or delivery. This may involve changes in technique or technology to improve efficiency or reduce costs. It may also involve changes to supply chain or distribution.
A Marketing Innovation may involve new markets or a change in packaging, advertising, product design or pricing.