Measuring Innovation Potential in Organisations
What is it?
The Innocentrix Innovation League (IIL) is an annual innovation survey, ranking top organisations according to their “Innovation Readiness” scores. Innovation readiness here refers to an organisations ability to apply leading edge thinking to the topic of collaborative innovation.
We believe that when organisations start building an innovation capability, our future be impacted upon in a positive way. We want to play a role by facilitating this growth and to share information, stories, lessons and global trends to help orgainsations be more competitive and reap better rewards from investment in innovation.
Innocentrix have partnered with Milpark Business School and the TT100 Business Awards on this initiative to ensure that the instrument remains relevant from a local as well as global perspective and that our methodology and assessments are executed with world-class rigour.
The Innovation League study examines collaboration within and among organisations: how it drives innovation in today’s challenging economic environment and what companies are doing to position themselves to compete more effectively.
The adopted approach is comparable to similar international innovation rankings and provides valuable insights into the local landscape, fostering learning and growth. The main aim however, is to showcase our top innovation leaders and recognise organisational innovation excellence!
Who can participate?
The Innovation League considers Emerging, Small, Medium and Large organisations and invites anyone who is interested in their innovation readiness or maturity scores, to participate. Participation is free of charge and includes an innovation readiness report with recommendations.
How does it work?
The research is based on the Innovation Readiness Model (IRM), which was designed through research conducted by INSEAD (one of the world’s leading graduate business schools) and Logica, now called CGI, a UK based IT firm. The IRM has been designed to focus on four pillars and four levels of capability achievement along each pillar. These 4 pillars (Leadership and ambition; organisation and collaboration; people and culture; implementation and measurement) are widely viewed as the foundation on which successful collaborative innovation can be built.
The approach adopted is comparable to similar international innovation rankings and methodologies and positions the innovation data obtained against the results of international counterparts – providing valuable insights, enabling an ecosystem-wide discussion.
The process involves the completion of an on-line survey. It takes maximum 20 minutes.(Doing this with a wider group of relevant stakeholders will yield better results).
A score is then calculated out of 4 that gets translated as a percentage out of a 100. This indicates the organisations innovation readiness level, or ‘readiness’ ranking, understood here as the measurement of the ability of an organisation to put into practice leading-edge thinking around the topic of collaborative innovation.
Participating organisations receive a brief report with their innovation readiness score and an explanation thereof, including general recommendations on how to move to the next level of innovation capability. The results from this survey provides great insights on what the organisation is already doing to harvest the innovation talent within it and what it could do better to reach its full potential. It is widely used to inform an organisation’s innovation strategy. This specific report also enables organisations to benchmark themselves in comparison to their peers, both nationally and internationally.
The innovation readiness report is emailed to participants shortly after the closing date.
Based on the results, top achieving organisations are identified for potential case studies. These case studies are then compiled in collaboration with the shortlisted organisations for possible inclusion in the League report.
What proven benefits are there for organisations to participate?
Participation in the innovation League is free.
Results/rankings however do not have to be published if the organisation wishes to remain anonymous. No confidential information is shared but general findings are written up and best practises and learnings are recorded in articles and other publishable reports, including the Innovation League Reports, published by Innocentrix.
The main aim is to encourage and award innovation excellence and specifically to gather local data on innovation management in order to write up case studies and share learnings that makes sense in our own context. These learnings and case studies are usually unpacked in more detail during the InnoLive event.