Innovatika - Thinkdom of business innovators

Income and profitability are the ultimate measure of every company’s success. Traditional reporting systems present only the results of actions taken in the past. We believe that the future value of a company depends mainly on the effectiveness of managing its innovation potential.

Innovation audit was designed to allow evaluating effectiveness and comparing corporate areas of activity which are not presented in traditional management reporting systems, but are crucial to a company’s future results.

Innovation audit consists of a few stages.

The first one involves interviews with the management which help us learn about the general vision, strategy and business measures of the analyzed company.

Then we run Instant Rating workshop. The aim of this short workshop is to maximize value by creating a clear process and engaging key managers. The workshop increases their acceptance of the project and makes them more interested both in the project and in the implementation process after the project’s results are presented.

The crucial stage is a series of interviews with 35-40 carefully chosen respondents, who have an excellent knowledge about the company’s functioning, out of whom: 2/3 are insiders (about 20-30 interviews) and 1/3 is from outside the company (10-15 interviews) – former managers and key employees, present and potential clients, suppliers and partners. Innovation rating is a weighted evaluation of more than 150 detailed questions concerning five specific areas of the company’s innovation competence.

Innovation Springboard session sums up the innovation audit. It is the first step to building an innovation-oriented strategy. The method allows diagnosing corporate culture as far as its innovation potential is concerned. It also provides access to the best practices used by companies all over the world and enables the participants to plan specific initiatives that support creating innovations.