What is it?
The Novelty Quest Innovation Compass is our full innovation management assessment tool and methodology to measure any organization’s current innovation management performance. Our method is based on 5+ years of management research and is aligned with the European standard for innovation management assessment CEN/TS 16555-6:2014. The Innovation Compass consists of a combination of researched key points where to measure your performance, methods to ensure the extraction of the exact right data, and methods for analyzing the data to provide the outmost professional and accurate result.
How does it work?
The Innovation Compass employs a comprehensive approach to measuring the maturity of innovation performance based on 20 different key areas of your organization. The full version combines a series of top management interviews with a selected employee survey. Our innovation management experts will support you in collecting the right data to make the results as valid and accurate as possible. The outcomes are then analyzed and summarized by our experts and provided to you in a exhaustive report and a personal presentation. We take full responsibility for ensuring a detailed outcome that jumpstarts you in the right direction for your innovation management endeavor.
The Innovation Compass can also be used to remeasure the organization on a regular basis to track development across departments and key areas.
How can I utilize it?
We provide a full service where we run the entire project for you. Contact us and we will have a first introductory meeting (no strings attached) where we discuss your situation and what you believe to be your scope with innovation management and your rationale for conducting an assessment. We will then mutually set the targets for the assessment work and make a plan for its execution. Depending on scope and availability to your respondents an assessment projects usually takes 1-3 months to pursue.
The Innovation Compass comes in two flavors with slightly different focus and contents due to the different characteristics of the organizations:
The Innovation Compass for the public sector is developed specifically for – and in collaboration with – municipalities, authorities and regions. The compass takes into special consideration the characteristics that distinguish public organizations from profit organizations and provides an extensive palette of details to how the organization is performing across all fields.
The Enterprise version of the Innovation Compass comprises of a comprehensive set of metrics to evaluate corporations’ overall innovation management performance. Through collaboration with, and input from, Novelty Quest’s innovation experts the assessment will then result in a comprehensive report describing the detailed status of the company.
How much will it cost?
Well, it depends a little on your scope for the assessment. The standard fee is $9,900 for a full assessment with all work conducted by our innovation management experts. This may be adjusted somewhat before we come to a final agreement. The standard package includes:
- Setting the scope for your innovation management work.
- Preparing a project plan in conjunction with you.
- Running face-to-face strategic interviews with a selected number of your department heads and top executives.
- Running a survey with a selected number of your unit heads.
- Analyzing the collected data.
- Providing you with a full report containing all the results.
- Presenting the process and the results for your management team in a live session.