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Are you ready to innovate? Get your free Innovation Readiness Assessment

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Are you ready to innovate? Get your free Innovation Readiness Assessment

Think about your Bright Spots for growth...
Are you ready to innovate and want your organization to get smarter?
Most successful innovation programs start with some sort of formal or informal assessment. An assessment provides an objective view that can be used to put together an action plan to make innovation happen.
Our innovation assessment benchmark now includes over 300 companies.
Learn more in this presentation and then go to

www.fast-bridge.et/innovready/

To get your free Innovation Readiness Assessment.

Think about your Bright Spots for growth...
Are you ready to innovate and want your organization to get smarter?
Most successful innovation programs start with some sort of formal or informal assessment. An assessment provides an objective view that can be used to put together an action plan to make innovation happen.
Our innovation assessment benchmark now includes over 300 companies.
Learn more in this presentation and then go to

www.fast-bridge.et/innovready/

To get your free Innovation Readiness Assessment.

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Are you ready to innovate? Get your free Innovation Readiness Assessment

  1. 1. forGrowth Personalized Report for : TEST
  2. 2. ABOUT THE ASSESSMENT YOU GET MORE OF WHAT YOU MEASURE… The goal of this assessment is to give you an objective/structured view on your organization's Innovation potential and opportunities for improvement.
  3. 3. THEORETICAL BACKGROUND The audit is based on work presented in over 200 academic articles. Research has linked significantly higher levels of innovation and business performance to business philosophies, strategic alignment, business processes and organizational learning Culture and process are the drivers of innovation success. Our audit will help you assess your strengths / weaknesses… Strategic Alignment Attitudes Processes Learning Innovation Performance Firm Performance
  4. 4. OUR RESEARCH DATABASE • Over 40 one to one company interviews to validate questions and test questions found in over 200 academic articles • A survey with 50 test companies Testing of initial questions and validation of the links to innovation performance. • Benchmarks scores created through surveys run in over 200 companies • April 2015 we updated the full research survey to better analyze disruptive and ongoing innovation success. HOW WE VALIDATED THE SYSTEM COMPARE YOUR COMPANY TO OVER 200 COMPANIES ACROSS EUROPE
  5. 5. INTERPRETING RESULTS It is important to note that correcting weaknesses is not always the best strategy. A lot of research on personal and corporate development shows companies can often achieve more by building on Strengths and Opportunities than by correcting Weaknesses.... BUILDING ON STRENGTHS: LOOK FOR TRENDS COMPARE VS. BENCHMARKS Some questions everyone scores low. Look at benchmarks Some questions everyone scores low. Look at benchmarks
  6. 6. KEY RESULTS IN 6 CHARTS
  7. 7. Innovation can (rarely) happen by accident, but it usually doesn't. It can be a one-time event or a systemic process. Companies that invest in creating Innovation systems are usually driven by a hunger to do things better and differently. They are often led by people that are intellectually curious and have a desire to change the world. Innovation can also just be in a company's soul. A low score here is a warning sign. Possible solutions are to visualize the benefits of Innovation and look for quick wins to build confidence that your company can be innovative but also work on a diversification of the workforce in terms of skills/experience... DO YOU REALLY WANT TO INNOVATE ? CHART # 1: ATTITUDE, LEADERSHIP & CULTURE 2.0 0 2.50 3.0 0 3.50 4.0 0 4.50 5.0 0 5.50 6.00 Desire / Hunger Philosophies Benchmark TEST
  8. 8. Entrepreneurial Orientation represents the processes, practices and decision-making which are embodied in the entrepreneurial process, closely linked at the level of an innovative business setup. We call it “Inno-Preneurship”. A high measure of Entrepreneurial Orientation reflects the ability of a company to quickly and effectively identify opportunities to build its business in an innovative way, and to take advantage of these business opportunities. This is an important complement to the Innovation Readiness because it is not sufficient to be good at innovating - a company needs to be run in an entrepreneurial way to identify the business opportunities that are the triggers for innovation, and in particular for developing concretely , on an SMTM (Show Me The Money) way, new areas of business. This chart shows how your company compares with all of the companies with a similar profile to yours, with regard to Entrepreneurial Orientation. IS YOUR ORGANIZATION BE DRIVEN BY AN ENTREPRENEURIAL MINDSET? CHART #2: ENTREPRENEURIAL ORIENTATION A utonomy Com petitive Creativity Proact ivit y Risk Taking Struct ure Benchmark TEST
  9. 9. Innovation activities need to fit in the context of the longer term direction of your company. A high score on this factor indicates that you have a very clear vision of the future of the business, you are continually planning to develop the business, and you are continually looking for ways to balance activities across the different areas of your company and, last but not least, innovation is concretely handled on the field as a strategic long term initiative. Board and C-Level executives should clearly be involved herewith. ARE YOU ALIGNED FOR SUCCESS ? CHART #3: STRATEGIC ALIGNMENT 3.0 0 4.0 0 5.0 0 6.00 7.0 0 8.00 Strategy alignm ent (OVERALL) A lign Target s Top Support Innovat ion Mat ch Innovation overall strat . Clear priorities A ct ion = values Shared vision Clear w hat business we are in Future focus TEST Benchmark
  10. 10. The habits OF INNOVATION SUCCESS are anchored in the DNA of a company. Successful innovators almost always have the right systems and processes in place to make innovation happen. The most important habits are : • Organizational Design • People Processes • Systems to select ideas • Customer Focus • Co-Creation • Eco-system management • Speed/results focus JUST TALKING ABOUT INNOVATION IS NOT ENOUGH... CHART # 4: OPERATING PROCEDURES YOU NEED TO DEVELOP THE HABITS OF INNOVATION SUCCESS - 1.00 2.0 0 3.0 0 4.0 0 5.0 0 6.00 7.0 0 People processes Organizational Design Customer Focus Co-creationEcosystem Management Syst ems to select ideas Speed / Results focus Benchmark TEST
  11. 11. IS YOUR ORGANIZATION GETTING SMARTER? CHART #5: LEARNING ORIENTATION Learning Orientation refers to organization-wide activity of creating and using knowledge to enhance competitive advantage. This includes obtaining and sharing information about customer needs, market changes, and competitor actions, as well as development of new technologies to create new highly competitive products that are by essence superior to those of competitors. Your Learning Orientation influences what kind of information is gathered and how it is interpreted, evaluated, and shared. The 3 key components of learning orientation are 1/ Commitment to Learning 2/ Open-mindedness and 3/ Intra-organizational Knowledge Sharing. 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 Commitment to Learning Knowledge Sharing Open Minded Benchmark TEST
  12. 12. PEOPLE AND ORGANIZATIONS BEHAVE LIKE THEY ARE MANAGED AND MEASURED … Investments in Innovation and Innovation success are key to your long-term business viability Companies need to Innovate to stay competitive. If your company is not creating value through innovation, your days are numbered. The key to business success is usually built on the right balance of innovation and operational excellence. CHART #6: INNOVATION & BUSINESS PERFORMANCE 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 InnovationResults Business Results Benchmark TEST
  13. 13. COMPARISON VS. BENCHMARKS
  14. 14. An Overall SCORE View + 19 Sub-Scores Overall Score 38 Desire / Hunger 32 Philosophies 37 Autonomy 11 Competitive 52 Creativity 60 Proactivity 43 Risk Taking 27 Structure 79 Strategy alignment 37 People processes 54 Organizational Design 43 Customer Focus 11 Co-creation 93 Ecosystem Management 27 Speed / Results focus 33 Systems to select ideas 15 Commitment to Learning 10 Knowledge Sharing 49 Open Minded 10 Percentile Score 38 Strengths Creativity, Structure, Co-creation, Weaknesses Autonomy, Risk Taking, Customer Focus, Ecosystem Management, Systems to select ideas, Commitment to Learning, Open Minded,
  15. 15. Knowing where to start…
  16. 16. WHEN WE RANK ORDER COMPANIES BY INNOVATION RESULTS THERE IS A CLEAR EVOLUTION OF SKILLS..
  17. 17. CULTURE AND CAPABILITIES GROW OVER TIME The Basics • Strategy • Hunger • Philosophy • Learning Orientation • Speed • Proactivity • General Systems • Customer Focus • Risk Taking • Ecosystem Management • Structure • Creativity Operations Entrepreneurial Orient.
  18. 18. HOW WE SEE THIS IN THE COMPANY RESULTS…
  19. 19. WHERE TO START…? Analyzing the results of hundreds of companies we have seen the process of building successful innovation is done step by step Starting at step 1, look for issues. If there are issues at any stage work on fixing these first then (only then) move on to the next step. STEP 1 The Basics OK Strategy First 37 STEP 2 Build processes/ procedures Hunger 32 Philosophy 37 Speed 33 Learning Orientation * 23 Proactivity 43 STEP 3 Entrepreneurial Orientation General systems 41 If Issues, Fix Customer focus 11 Risk Taking 27 Strategy alignment Ecosystem Management 27 Innovation training If Issues, Fix Structure 79 (For management and workers) All Stage 1 activities Creativity 60 Innovation Events Moments of truth Invite Speakers Ask for ideas If Issues, Fix Lean Start-up (learning training) Set up systems All Stage 1/ 2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs ----------- Reward Innopreneurship * learning orientation is a complied score of Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Look At Strengths To Build On: Commitment to Learning, Know ledge Sharing and Open Minded Pay Particular Attention To Pay particular attention to Pay particular attention to Creativity, Structure, Co-creation,
  20. 20. MOVING FOWARD Key Learnings Hypotheses To Test Not in the individual trial Report Not in the individual trial Report
  21. 21. APPENDICES Companies In Benchmark 1 Page Report Card Full Details
  22. 22. APARTIAL LIST OF COMPANIES IN THE RESEARCH BENCHMARK AAVO Crown Advice IBA Openway Europe Smartsearch Access Business Group DDCOutsourcing Solutions Inacademy Orange Solvyns Action Mind Dima Center Incopro Bvba Packo Inox Spleen Creation Aenbv DMSSWE Incorporated Angels Panos Shop Start it@KBC Agc Glass Europe Donaldson ING Partena Strategia Group Agoko Dts Insites Peps Synthetron Alaska Group Eastman Chemicals Interexport Ltd Peruse Sytorus Aliseos Ecoteda iText Group Peter Koestenbaum Inc Taminco All Things Talk Edf Luminus KBC Pipol Tav Amadeus Editions De L'Avenir Kimoto Consultancy Ltd Plethon TBC-Post AMG Efarmz Kluwer Poczta Polska TEConnectivity Aramark Elavon Koestenbaum Pollet Water Group Teach For Belgium Architempo Elearning Company Leaseplan Prayon Telenet BEA Electrabel Les Editions De L'Avenir Procter And Gamble Terra Venture Partners Before The Hype Engie Linea Coaching Province Of Flemish Brabant Test-Achats Bekaert Essensium L'Oreal Proximus The Conference Board Bekaert Textiles Eurekaranch Lotus Bakeries PWCconsulting The Founders Institute Belgacom Euro Consumers Lowagie PWG These Days / Y&R Bisnode Belgium European Innovation Academy Make Sense Media QAP Thrombogenics Bleckom Consulting Factor-X Meessen De Clercq Reader Stage Oy Tijian Teda Committee- Eco Center BMS Fern Valley Megamitch Financial Rexprom TVH BNPParibas FHPL Mercuri Urval Rightsource Global U-Sentric Bpost Fiberplanit Metis Ripple Aerospace Vacancesweb Breosla Final Metis Instruments Robert Walters Valassis Ltd Brussels Airport Company Flemish Government Microsoft Sabic Valesta Carrières Du Hainaut Fountain Mitel Saraco VBN CGK-Group Fundrazr Mobistar Sayang Wines Vulev Cityplug GDF Suez Msmg SD Worx Westartup Clear Channel GETIndustries M-Team Sebeco Wits Clicpublic Good Morning Asia Ltd N-Allo Sibelco Wolters Kluwer Colruyt Group Grant Thornton Newfin Pharmaceuticals Pvt Ltd Sioen Industries World Line Conference-Board HEI Niko Group Siveco Worldvu Llc Connectionpoint Howest Octopux Skryv Xintec CoRe Hudson Open Way Group Swing Guru Zentrick
  23. 23. Overall Score 38 Desire / Hunger 32 Philosophies 37 Autonomy 11 Competitive 52 Creativity 60 Proactivity 43 Risk Taking 27 Structure 79 More Information Strategy alignment 37 People processes 54 Organizational Design 43 Customer Focus 11 Co-creation 93 Ecosystem Management 27 Speed / Results focus 33 Systems to select ideas 15 Commitment to Learning 10 Knowledge Sharing 49 Open Minded 10 This report was developed via a collaboration between many experts in Innovation. For more information on the study, please contact Bryan Cassady : + 32 475 860 757 / bryan@fast-bridge.com LEARNING ORIENTATION INNOVATION & BUSINESS PERFORMANCE Percentile Score Strengths Creativity, Structure, Co-creation, 38 Weaknesses Autonomy, Risk Taking, Customer Focus, Ecosystem Management, Systems to select ideas, Commitment to Learning, Open Minded, INNOVATION READINESS ASSESSMENT TEST ATTITUDE, LEADERSHIP & CULTURE ENTREPRENEURIAL ORIENTATION STRATEGIC ALIGNMENT OPERATING PROCEDURES 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 Desire / Hunger Philosophies Benchmark TEST - 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 Strategy alignment (OVERALL) Align Targets Top Support Innovation Match Innovation overall strat. Clear priorities Action = values Shared vision Clear what business we are in Future focus TEST Benchmark 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 Commitment to Learning Knowledge Sharing Open Minded Benchmark TEST 2.00 3.00 4.00 5.00 6.00 7.00 People processes Organizational Design Customer Focus Co-creation Ecosystem Management Systems to select ideas Speed / Results focus Benchmark TEST - 1.00 2.00 3.00 4.00 5.00 Autonomy Competitive Creativity Proactivity Risk Taking Structure Benchmark TEST 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 InnovationResults Business Results Benchmark TEST STEP 1 The Basics OK Strategy First 37 STEP 2 Build processes/ procedures Hunger 32 Philosophy 37 Speed 33 Learning Orientation * 23 Proactivity 43 STEP 3 Entrepreneurial Orientation General systems 41 If Issues, Fix Customer focus 11 Risk Taking 27 Strategy alignment Ecosystem Management 27 Innovation training If Issues, Fix Structure 79 (For management and workers) All Stage 1 activities Creativity 60 Innovation Events Moments of truth Invite Speakers Ask for ideas If Issues, Fix Lean Start-up (learning training) Set up systems All Stage 1/ 2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs ----------- Reward Innopreneurship * learning orientation is a complied score of Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Look At Strengths To Build On: Commitment to Learning, Know ledge Sharing and Open Minded Pay Particular Attention To Pay particular attention to Pay particular attention to Creativity, Structure, Co-creation, One page summary

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