Innovation Compass: A Self-Audit Tool for the New Product Development Process

This paper presents a diagnostic tool referred to as the innovation "compass". The innovation compass uses self-audit methodology to identify gaps between current and desired performance of individual organisations. The innovation compass aids organisations in identifying where problems lie within the organisation. This information can then be used in developing an action plan to improve their new product development performance. The compass acts as a support tool to the linear and mechanistic processes of managing new product development, such as the Stage Gate Model. The compass comprises of five core themes; structure, leadership, output, teams and context representing the fundamentals of the innovation process. A combined methodological approach was used, by means of both qualitative and quantitative techniques with organisations. The methodology adopted has allowed for benchmarking of these themes to occur, with additional depth added from the qualitative semi-structured interviews. This paper discusses the rationale for a tool such as the compass.

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