Benefits & How:
Innovation programs typically impacts the organisation at two levels:
The impact is on the value creation: The program directly creates value for the organisation and the stakeholder of the organisation and is inline with the company mission. The output of those programs are typically new products, services or policies that directly impact the results of the organisation.
The impact is on culture change. Innovation is an entry point to transformation and evolution of organisations.
Considering those two axes, and the overall goals of the organisation, you can map the innovation programs into this matrix. This shows which areas are lacking and which areas are well served. This framework is very useful to:
measure the impacts of your programs on the value creation and cultural change axis
understand which program you can stop or start based on your strategy and objectives
Culture change is about transforming the company to establish an innovation culture. This may include new processes, metrics, incentive systems, or changing organisational structures. These transformations help the company innovate in a consistent and repeatable way. Programs to establish an innovation culture typically address: Leadership, Organisational Design and Innovation Practice
Value creation is about the creation of new products, services, value propositions, and business models. The goal of these programs is to invest in and manage innovation projects. These projects create value by either producing new growth or cost savings.