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Innovation Audit

Great Prairie Group’s Innovation Audit is a quick check on the plans and rationale for innovation. The audit asks critical questions to evaluate areas of strength and weakness to help your team improve the success of your project. These questions include the following:

  • What is our capability and experience in innovation?
  • How many innovation projects has our company conducted in the last ten years?
  • How have these products/technologies performed relative to the competition in terms of growth or market share gain?
  • In how many new products/technologies have we been first to market?
  • How much have we invested in innovation over the last 5 years?
  • How much value have we created through innovation over the last 5 years?
  • As we look at our next opportunity, how big is the addressable market?
  • What are our projected revenues over the next five to seven years?
  • What is the unique value proposition of our innovation?
  • What are our strengths and our right to win?
  • Is our innovation defensible against competitors?
  • What is our path to success?
  • How much do we need to invest?
  • What is the financial attractiveness of the innovation?

The specificity of your answers will help you determine the level of strength of the strategic rationale supporting your innovation.

Innovation Strategy

Changing the rules of the game.

Innovation is the largest driver of business growth. Leading corporations understand its importance and are engaged in innovation projects worldwide. It stands to reason that innovating companies are leaders in their industries: Tesla Motors in automotive, BP in energy, GE in industrial products, Amazon in retail, Under Armor and Nike in sports apparel, Apple and Google in technology, Uber in transportation, and many more.

 

The Challenge. Successful innovation requires getting winning technologies to market in record time. The challenges are two:

  1. Deliver a new product/technology with the highest level of customer satisfaction, and
  2. Get to market quickly, ahead of competitors

The complexity of overcoming both challenges at once presents a significant hurdle even to the most advanced companies in innovation.

How We Help

We assist clients in the development and execution of their innovation strategy
designed to meet business growth targets. What we do for our clients:

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