Innovation

The innovation has been defined by OECD as:

The implementation of a new or significantly improved product (good or service) or process,

How Our Model Works

The model adopted in this application has been developed by our team after extensive research, interviews with successful innovators and academia. We have identified 23 dimensions, which has steered the innovation in modern businesses.

The innovation in our model is not a light bulb moment. The application does not expect you to start with an idea. We have provided a structured model, the user starts with selecting a prodcut category and a product. The application then steers the process by providing prompts along with 23 dimensions we have identified after elaborate research.

The process

Start with identifying Stakeholders, innovation cannot take place in isolation. All relevant Stakeholders need to assess the innovation lead before it can be considered by decision makers to implement.

In the Create New Inno Lead tab, start by selecting the Business Unit, Product Category and Product Name. Follow the applicationas it takes you on a journey to explore all possiblities to innovate along 23 dimensions.

Once the innovation lead is created, the same is assigned to all Stakeholders for assessment. The assignment to the Stakeholders takes place automatically through cloud flow. The assessment by Stakeholders is both subjective and objective. In objective assessment, a score is assigned by each stakeholder to each innovation lead. The each stakeholder also identifies potential threats and advantages and implementation time.

All innovation leads assessed by the Stakeholders move to Innovation Pool, along with all assessment parameters entered by each stakholder. This innovation Pool is then available decision makers to implement selected innovation leads.

Power Innovation Management

by Nycken Euro