This report provides very insightful analysis of how to improve innovation excellence. By using some of these insights, we at Huntsman Polyurethanes have been able to quadruple our EBIT from new products over the last six years.
The pace of innovation is constantly increasing and getting a handle on innovation performance is often a challenge for organizations as they struggle to keep up with emerging best practices for innovation. The ability to benchmark innovation management practices and understand best practices can identify areas for improvement and helps to identify concrete improvement opportunities to increase Innovation impact.
Since the 1990s Arthur D. Little has been benchmarking best practices in the management of innovation. This is the 9th iteration of our Innovation Excellence Benchmarking. Every iteration incorporates new material based on the hundreds of Technology and Innovation Management (TIM) assignments we carry out every year. We also incorporate feedback from leading academics in the area of innovation management.
The current model has been extensively reviewed and the 9th edition now incorporates improved coverage of Ecosystem innovation as well as several best practice updates based on ADL studies on R&D best practice management, selective deployment of Agile ways of working, Digitally-enabled Innovation, Breakthrough Innovation and Business Model Innovation.
The Global Innovation excellence Benchmark assesses both your innovation performance and your innovation management approach
The assessment is based on an online (or paper based) questionnaire which takes 45-60 minutes to complete. Arthur D. Little then provides you with a complementary report.
“What has your innovation effort delivered in terms of business success?”
“In which areas are you performing strongly?”
“Which areas should be addressed first to drive better performance?”
“How sophisticated is your innovation management practices vs best practice?”
This allows us to confirm the relationship between innovation success (Sales, EBIT etc) and current Innovation Management Practices (IMPs). It positions benchmark participants against your peer group and other participating companies. We can then explore how improving your Innovation Management Practices could improve performance and return on innovation.