A company wanted to speed up the process of developing new products and thus launching them into the market.
Solution First stage was to conduct an innovation audit, this evaluated the company’s attitudes to new ideas and risk taking. The directors considered the company to be innovative but the audit revealed that staff took a different view. The culture was risk averse. Only ‘safe’ proposals were accepted. There were too many hurdles for new initiatives to pass and too many stakeholders who could veto proposals.
Benefits As a result of the audit the evaluation process was streamlined and steps taken to make the culture more entrepreneurial creating a faster flow of more innovative new products.
For more information see:
Building Products Marketing
Innovation Audit
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