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Innovation-Check
Previous to the introduction and implementation of an innovation programme two main issues concerning the effectiveness and efficiency should be thoroughly checked:
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1. Doing the "Right" thing (Effectiveness)
2. Doing things "Right"
(Efficiency) |
Some relevant aspects related to the effectiveness and efficiency of technology, innovation & venture management are covered by the FAQs - Frequently Asked Questions.
Typical indicators of a lack of product innovation and/or an essential innovation problem of an enterprise are:
Continuous downward trend of product prices
Turnover tendentious retrogressive against the industry trend
Increasing competition with low-price quotations
Market introduction of new products or services runs sluggishly
Internal know-how and capacities needed for the development of new products and/or services is missing
Lack of financial resources for innovation projects
A definite evaluation and clarification of circumstances and strategies to be taken requires a rigorous SWOT analysis, which is based on a systematic analysis of the Strengths (S), Weaknesses (W),
Opportunities (O) and Threats (T) in order to derive the optimal
and sustainable strategy for the enterprise.
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