You know the market and your competition.
But don’t you want to know your strength compared to the innovative strength of your competition?
- All innovation systems share the same roots and principles, so standardised benchmarking is possible…
- More than 6000 organisations have done it.
- You will get answers such as
- Can you express your innovation strategy?
- Does your company innovate beyond incremental improvements?
- Can you place your product portfolio and roadmap on an S-curve?
- What’s the competition’s innovation focus in terms of innovation types?
- How are top-performing teams structured, what persona are most looked for?
Learnings from cross-industry analysis to improve your innovative strength
Comparing your innovation profile and metrics with non-competing industries is another source of inspiration. Applying business model innovation, adopting new service schemes or supply chain structures is often more plausible after analysing a successful transformation elsewhere.
Increasing the innovative strength is only possible if you understand the innovation metrics involved. Going beyond generic innovation metrics such as
- new products’ sales ration,
- number of patents files or
- ideas submitted,
requires an intimate analysis of your current innovation system. A systematic overview an approach is given as an inspiration in this IEEE Engineering Management Review Paper.