The Innovation 360 Methodology

The Innovation360 methodology has been built on many years of data analysis, experimental results and academic research. It began with the understanding that two seemingly identical companies employing the same strategy in the same market can see wildly different results. The variation can mean the success or failure of the business, so you must get the strategy right the first time.

Our research determined that the best way to minimize risk and keep a business viable as conditions fluctuate is to develop a customized strategy based on a 360 degree assessment of the company’s internal and external capabilities. From there, you can begin to innovate in a structured way, with repeatable processes and hard metrics.

Here’s a quick overview of the science behind our methods, our processes and our approach.

The Science of Innovation360 - The Fundamentals

The 3 Innovation Horizons

All innovation projects can be divided into three parallel horizons. The first Horizon 1 (H1) is about incremental innovation for today’s business. In Horizon 2 (H2), you expand and build new business. Horizon 3 (H3) is an explorative approach to future innovation. This model is based on research by Steven Coley.

The Innovation Framework

This details how to align an organization's strategy with their leadership style, culture, capabilities and competencies. This is the key to building a sustainable business as markets change. The framework, made up of 5 W’s and 1 H, is based on research by Magnus Penker.

The Wheel of Innovation Sectional Analysis

The results of the Innosurvey indicate the strengths and weaknesses of each organization. The semi-circles and quadrants correspond to different aspects of innovation and suggest skill gaps that need to be filled. The data, supported by our AI and advanced analytics, pinpoints the optimal strategy for each organization to achieve higher gains at a lower risk.

Open Innovation

Governance

A single innovation isn't sufficient for long-term success. A culture of innovation produces a pipeline of idea for continuous improvement. Innovation360 helps organizations design and implement their own Innovation Board, Task Force, Internal Sponsors and Project Leads.

Ideation Platform

Ideas appear on their own schedule. Your ideation platform should be mobile enough to capture ideas as they happen on employee phones, and powerful enough to enable collaboration for stronger engagement. Built-in AI assists with the clustering and selection of the best ideas.

Prototyping

Too many great ideas never make it off the drawing board. Leading innovators depend on a robust system for generating working hypotheses, testing concepts, and prototyping innovations to minimize risk before incurring all the costs of commercialization and taking the innovation to market.


The Innovation360 Approach

Assessment

We begin with a complete 360 degree assessment of the organization’s strengths and weaknesses, internally and externally.

Design

Starting with the goal and direction established, we help design the best ideation process, idea management, innovation governance model, and a repeatable process for innovating across all three innovation horizons.

Analysis

We run the data from the assessment through AI-supported analytics, correlating results with the company’s defined goals and culture to isolate the most productive path for innovation.

Implementation

The most intricate step in the process of innovation is the final realization and commercialization process for bringing innovations to market with the best chance of success.

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60 Minutes of Innovation Management

While innovation requires methodology to succeed, it is not a formula. Successes cannot be transplanted from one context to another. A strategy can only be designed after a careful evaluation of what makes an organization unique, requiring an analysis that is both qualitative and quantitative to uncover the right insights. Once an innovation project begins, things move fast, so having the correct framework to make decisions is key.

This 60-minute introduction to Magus Penker’s Innovation Management will guide you through the proven methodology used by global companies, scale-ups and unicorns all over the world to push the bounds of the possible and achieve remarkable, market-tested results.

If you’d like English subtitles for these videos, select Watch on YouTube and turn on “CC.”

1 - Introduction

2 - What is Innovation Management and why is it important?

3 - The Wheel of Innovation

4 - The Innovation Horizons Introduction

5 - The Innovation Process and Portfolio

6 - Why is it so hard to innovate and how to overcome

7 - Identifying Blockers and Amplifiers for Innovation

8 - Culture Fit for Innovation

9 - Assessing your organization´s culture fit for Innovation

10 - Deep dive into capabilities for Innovation and the Wheel of Innovation

11 - Aligning Strategy and Capabilities for Innovation

12 - Ten tips to be successful staying on to in a hyper competitive market