Induct's Innovation Management Methodology
Over our years of developing and implementing software for innovation across a broad spectrum of organizations, we have acquired a unique understanding of how innovation works in practice. At Induct, we have witnessed many successes and failures, and from these experiences we have created an innovation management methodology. This methodology describes the approaches used by the most productively innovative organizations, and shows how these approaches can be adopted and adapted by others. Not only is this methodology one we recommend to our customers, but it also underpins the mindset upon which we build our software.
Induct is involved in several national and international projects regarding innovation practices. This experience, in addition to the thought leadership of our world renowned Advisory Board members, further informs our methodology and services.
We firmly believe that software cannot make you innovative, but it can support the strategic framework you adopt to drive innovation. Software can also help you organize, document, and leverage more value from your work.
Induct has developed this framework based on the experience of launching more than 250 innovation communities across the globe. It has been created to help organizations to ensure a successful and sustainable innovation management capability.
1. First, we start with the strategic goals of the organization, and identify the value drivers within the organization. Examples are: increased revenues, reduced cost, quality of services or products, customer satisfactions, and employee satisfactions.
2. Out of the value drivers, the organization identify KPI (key performance indicators), which is linked to the value drivers. There might be a hierarchy of KPI’s, linked to the value drivers, as KPI’s can be broken down from high level KPI’s to more specific KPI’s. Examples would be
3. The next step would be to identify all activities which need to be performed from idea capture until reporting impact of implemented innovations. This is a documentation of the policy, processes and procedures.
4. Then the roles, responsibilities and accountabilities need to be defined and allocated, to ensure the organizational structure is in place to support the innovation activities.
5. The next step is to create the activity calendar. This calendar will make sure that repeatable activities like idea assessment, meetings, reporting etc. are held to ensure continuous and sustainable innovation capabilities.
6. The front end of the innovation process is about capturing ideas, developing these and assesses them towards the KPI’s. The key in the front end is to identify the possible impact of the KPI’s for each idea. An idea might have impact on several KPI’s, and in the front end, it is usual to score the ideas on a scale from -1 to 5. The reason for having -1 is that the idea might have negative impact on a KPI.
7. When the ideas with potential highest impact on the KPI’s, these ideas are moved to the back end of the process, where impact estimation is performed. Usually, this is a more detailed or extensive evaluation than the scale from -1 to 5.
8. The most promising ideas will then be moved forward into the implementation process. Usually, product innovations will be sent into the product development process, while process innovation will be sent thought the steps required to implement a new or improved process in the organization. Different types of innovation needs their well-defined steps for implementation. With Induct, you can define as many back end processes as your organization requires implementing innovations as efficient as possible.
9. In the learning phase, it is all about capturing the learnings and experience, and share these within the organization or across organizations.
10. The real impact can be documented and case studies / success stories can be written up. This is one of the most important steps, as this will become the foundation for reporting the value creation of innovation activities to the executive management. Also, it is very important to distribute success stories to the organization, as it help building an innovative culture.
11. In addition to sharing success stories, the innovation culture can be improved by reward and recognition mechanism, innovation workshops, involvement of the stakeholders, and incentives.
12. The evaluation step is about improving the organization of your innovation activities. Innovating how your are innovating. This will continuously improve your innovation performance.
13. The last element of the innovation management framework is reporting of impact of your innovation activities. This is an important activity, as it is justifying the existence of the innovation department and to perform structured innovation activities within your organization.
14. Induct has also developed an implementation framework, to ensure that the elements of our innovation management framework are implemented and the infrastructure is created for an successful innovation performance.
And of course, the Induct solution is built to support an efficient, scalable and engaging innovation management practice in you organization.