Recently, the innovation audit has been introduced, both in literature and in practice. An innovation audit is intended to provide a systematic review of a firm’s or a business unit’s abilities and processes, to improve its offering relative to customers and stakeholders, in a creative or novel manner.
An innovation audit can be defined as an audit that intends to investigate and improve a firm’s capabilities to innovate and perform innovation processes. Innovation audits assess a firm or a business unit’s needs and abilities to change, and also in what ways and how fast these needs and abilities are changing.
Firms, scholars and practitioners believe and contend that innovation audits can improve firm processes and the capabilities to innovate, and thus will lead to improved competitiveness, performance and growth. However, it is not clear from different innovation audit constructs and innovation audits performed what the effects and the implications are, and what happens after conducted audits in firms.
CBI has done several innovation audit projects in firms. However, what happens after these performed audits is yet not mapped and analyzed. The purpose of this project is to investigate whether, and if how, firms have taken actions on the knowledge provided by different innovation audits and what the results have been.
This project will be based on interviews in ten companies, where eight of these companies have conducted “measurement” audits and two have conducted full innovation audits.
Developing capabilities for innovations – actions after an audit