Innovation capabilities assessment has to do with the strategies and value system that an organization or business unit uses to discover the extent they promote innovative thinking and innovative action.
In today’s world, where every industry is rapidly evolving, the ability to create new value or the ability to be innovative is now more critical than ever.
Therefore, the ability of an organization to allocate the right level of resources and in the right way is essential to creating a successful innovative practice in an organization.
In assessing your organization’s innovation capabilities, an innovation analysis must be carried out in six different areas, including:
- Hunger
- Culture
- Community
- Resources
- Methods
- Impact
1. Hunger
In the area of hunger, it has to do with assessing your organization’s entrepreneurial attitude, its appetite for change, and its tendency to challenge its beliefs.
Every organization has its peculiar character. When those peculiar characters are mixed with certain behaviours, it becomes one of the essential factors in creating a long-term and successful Innovation practice.
Several studies have shown that entrepreneurial organizations with an insatiable appetite for innovation perform better than their peer in the same industry by at least thirty per cent.
So, with your organization’s (employees) hunger for innovation, your business innovation capabilities can be assessed.
2. Culture
Culture assesses how your organization empowers each employee to rise above everyday challenges, inspire other staff, and overcome adversity in their pursuit of innovation.
Culture doesn’t only assess how effectively employees breed trust and encourage behaviours that align with the organization’s values and goals but also determines how willing they are to disregard specific rules and formalities and implement the tough decisions required to make innovation happen.
3. Community
The community assessment uses the tone of the workplace and how people flow together to achieve a common goal.
Innovation happens when employees are encouraged to gather insights from the different groups of internal and external collaborations, freely share their thoughts, and allowed them to take bold, intelligence-led actions.
4. Resources
The resource assessment appraises the ease of accessibility to — and the effectiveness of — your organization’s basic investment categories that should be in place to help your employees discover, test, and market innovations faster.
Other investment types don’t involve money only and must cover a wide range of different investment categories to enable innovation in your organization.
The categories range from investment in talent to adequate time and working space. Together, these investment categories will play crucial roles in encouraging innovation in your organization.
5. Methods
Methods try to assess the maturity and effectiveness of your organization’s closed-loop processes have on the success and morale of your Innovation practice.
Using carefully, flexible, well-designed processes can complement and enhance innovation, but if deployed as blunt instruments, they can do more harm than good.
Scheduling regular reviews that monitor the impact processes your organization has on the morale and effectiveness of innovation will help to determine your company’s innovation capabilities.
6. Impact
Impact appraises people’s perception and attitude towards your organization and innovation practice. A successful appraisal in this factor is assessed from the perspectives of three principal groups.
The first principle involves people external to your organization. It includes business partners, competitors, investors, consumers, and the media. The second principle requires your executives and thirdly, your employees.
With each group, through Innovation capabilities assessment, we can know the impact and effectiveness of your team in different ways, and while the majority of these perceptions will be important, you should always remember to pull them back to how you and your organization measure success. For professional advice and more information, visit our website.
