The wheel of innovation is a diagnostic tool in the innovation potential of a company, team or service by taking into account both human characteristics and organizational elements according to six criteria:
- Open mindedness
- Strategical alignment
- Innovation process
- Project Management
- Market Analysis
How to use it
The wheel of innovation is fast and simple to implement.
Step 1. Define at least two concrete benchmarks to evaluate each criterion
Examples of benchmarks for each criterion:
- Benchmarks for “open-mindedness”:
Curiosity, increased interest in novelty, ability to take risks
- Benchmarks for “strategic alignment”:
Declination of the overall business strategy into axes on innovative themes.
- Benchmarks for “innovation process”:
Existence of a structured innovation process, of an “Innovation Department” or a network of innovators (e.g. University partnerships), the appointment of an “Innovation Responsible”.
- Benchmarks for “creativity”:
Implementation of a creativity process through animated creativity sessions, workshops and the regular presentation of innovative ideas.
- Benchmarks for “project management”:
Clear goals, budget allocated to innovation activities, defined roles and responsibilities, planning, regular progress review …
- Benchmarks for “market analysis “:
Presence of analysis reports on competition, on the evolution of the market requirements, presentation of these reports to the employees on a regular basis.
Step 2. Rate each criterion using a scale of 1, 2, 3 with 1 representing the lowest and 3 representing the highest
- the criterion is not met.
- partial presence of the criterion
- strong presence of the criterion in that specific field
Step 3. Define solutions to improve the criteria whose score was low and to reinforce the ones which scored high results