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Innovation Audit Framework: Group - 3

The document discusses an innovation audit framework with 3 dimensions: type of innovation, locus of innovation, and nature of innovation. An innovation audit helps companies understand their innovation capabilities, identify opportunities to increase innovation, and determine where to focus efforts to maximize success. It can enhance innovation capabilities, build creativity, and address barriers. The framework involves analyzing a company across 1058 "cubes" or elements defined by the combinations of the different axes.

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Anirudh Gupta
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111 views8 pages

Innovation Audit Framework: Group - 3

The document discusses an innovation audit framework with 3 dimensions: type of innovation, locus of innovation, and nature of innovation. An innovation audit helps companies understand their innovation capabilities, identify opportunities to increase innovation, and determine where to focus efforts to maximize success. It can enhance innovation capabilities, build creativity, and address barriers. The framework involves analyzing a company across 1058 "cubes" or elements defined by the combinations of the different axes.

Uploaded by

Anirudh Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Innovation Audit

Framework

Group - 3
20PGDM076 Anirudh Gupta
20PGDM078 Anshuman Tripathi
20PGDM082 Arunabh Ghosh
20PGDM094 Kirti Maheshwari
20PGDM114 Samidh Patel
20PGDM116 Shirish Goel
FMCG Sector
• Largest Sector in India
• Retail Segment generated a revenue of $1.1 trillion in 2020
• Government has allowed 100% FDI in the FMCG sector
• 23%-28% tax has been reduced to the 18% slab under GST

FMCG
Market Share

Non- Rural – 40% Urban – 60%


Essential
Essential
Innovation Audit
Innovation audit – a mechanism to help
companies to understand innovation, as
s try
du well as to increase their innovation
In
capability.

BENEFITS OF INNOVATION AUDIT-


 It enhances the company’s innovation
capability.
 It identifies opportunities for increasing
innovation.
 It clarifies where the organization
needs to focus to maximize innovation
success.
 It can build on individuals’ creativity to
be innovative.
 It can identify and control the barriers
that stifle creativity and innovation.
 It fosters innovation in the
organization’s culture.
u str
y Nature of Innovation
d
In

SUSTAINING INNOVATION targets


demanding, high-end customers with better
performance than what was previously available.
Example: Apple’s iPhone

EFFICIENCY INNOVATION reduce the cost of


making and distributing existing products and
services. Example: Toyota's just-in-time
manufacturing

Disruptive Innovation refers to a technology


whose application significantly affects the way a
market or industry functions.
Example: Internet, which significantly altered the
way companies did business and which negatively
impacted companies that were unwilling to adapt
to it.
y
u str
d
In
Types of Innovation
• Design & marketing innovation
• Product Innovation
• Service innovation
• Markets, customers and channels
innovation
• Technology innovation
• Process innovation
• Management innovation
• Business model innovation
• Industry innovation
stry
d u
In
Locus of Innovation
• Groups of Small Teams
• Projects
• Organization
• Business Ecosystem
3-Dimensional
AuditZ-axis
Model

Y-axis

X-axis
 The 3 axis of innovation being the Type
of Innovation, Locus of Innovation and
Nature of Innovation when combined
gives us 1058 elements or cubes which
together forms a big cuboid
 The combination of all the 3 axis and all
the parameters of different axis gives us
what kind of Innovation is being done

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