Innovation Health Check
Measure and Strategise
What is the Innovation Health Check?
The L Marks Innovation Health Check is designed to measure a client’s innovation capability and design a new vision and innovation strategy, aligned with the overall strategy and goals of the company.
Through the Innovation Health Check, we take the pulse of a client’s business and complete an innovation assessment to prepare for the future.
The 360-degree assessment provides an objective view of how the organisation is performing in terms of innovation culture, governance, capacity and output, and enables a strategy for meaningful change.
Why do an Innovation Health Check?
When it comes to tangible business benefit and demonstrable innovation success, companies battle with a range of challenges, including:
- Lack of clear strategy and focus
- Misaligned culture
- Poor people engagement
- Inconsistent processes
- Disconnected initiatives
- Unclear ROI
Against this challenging picture, innovation leaders and company executives need to ensure they are getting the best possible return from their people, processes and investment of time and budget.
Innovation is no longer a “nice to have”; it is fundamental to future survival, business growth and remaining competitive in the face of continuous disruption. Companies that focus on, and plan for, innovation achieve better results in terms of revenues and profitability.
An Innovation Health Check allows an organisation to understand how it is currently performing when it comes to innovation – exploring what is working well and what is not. By generating and explore key data, the Health Check is able to drive insights leading to practical interventions that deliver improvements and results
Benefits of an Innovation Health Check?
The innovation Health Check will:
- Provide a deeper understanding of how well innovation is working across the company and at all levels
- Create a new vision and innovation strategy, aligned with the overall strategy and goals of the company
- Design a roadmap and specific goals for implementing the new innovation strategy
- Develop an understanding of how the culture of the company will need to evolve so that it is more conducive to creativity, innovation, implementation and success
- Prepare a tailored innovation process to deliver the new innovation strategy, roadmap and culture
- Identify business opportunity areas and themes that can be addressed through innovation initiatives
How does an innovation assessment work?
The 8-week process begins with a deep dive into how innovation is working in the company. This information gathering phase covers all aspects of innovation across the organisation. Through these interactions, we landscape a client’s operations to draw out key insights and stimulate a creative and forward-looking mindset.
L Marks together with our partners at a world-leading educational institution, analyse the interviews and surveyed responses to convert this data into actionable insight. Those insights are then taken to the senior leadership of the client to define a roadmap of activities to transform innovation practice and culture across the organisation.
Through the insights gathered and expert analysis, L Marks will give the company the tools to enhance their innovation capabilities, create a clear pathway to implementation, and produce tangible outputs.