Innovation Audit

Framework

Group - 3
20PGDM076 Anirudh Gupta
20PGDM078 Anshuman Tripathi
20PGDM082 Arunabh Ghosh
20PGDM094 Kirti Maheshwari
20PGDM114 Samidh Patel
20PGDM116 Shirish Goel
 FMCG Sector
• Largest Sector in India
• Retail Segment generated a revenue of $1.1 trillion in 2020
• Government has allowed 100% FDI in the FMCG sector
• 23%-28% tax has been reduced to the 18% slab under GST

FMCG
Market Share

Non- Rural – 40% Urban – 60%

Essential
Essential
 Innovation Audit
Innovation audit – a mechanism to help
companies to understand innovation, as
s try
du well as to increase their innovation
In
capability.

BENEFITS OF INNOVATION AUDIT-

 It enhances the company’s innovation
capability.
 It identifies opportunities for increasing
innovation.
 It clarifies where the organization
needs to focus to maximize innovation
success.
 It can build on individuals’ creativity to
be innovative.
 It can identify and control the barriers
that stifle creativity and innovation.
 It fosters innovation in the
organization’s culture.
 u str
y Nature of Innovation
d
In

SUSTAINING INNOVATION targets

demanding, high-end customers with better
performance than what was previously available.
Example: Apple’s iPhone

EFFICIENCY INNOVATION reduce the cost of

making and distributing existing products and
services. Example: Toyota's just-in-time
manufacturing

Disruptive Innovation refers to a technology

whose application significantly affects the way a
market or industry functions.
Example: Internet, which significantly altered the
way companies did business and which negatively
impacted companies that were unwilling to adapt
to it.
 y
u str
d
In
Types of Innovation
• Design & marketing innovation
• Product Innovation
• Service innovation
• Markets, customers and channels
innovation
• Technology innovation
• Process innovation
• Management innovation
• Business model innovation
• Industry innovation
 stry
d u
In
Locus of Innovation
• Groups of Small Teams
• Projects
• Organization
• Business Ecosystem
 3-Dimensional
AuditZ-axis
Model

Y-axis

X-axis
 The 3 axis of innovation being the Type
of Innovation, Locus of Innovation and
Nature of Innovation when combined
gives us 1058 elements or cubes which
together forms a big cuboid
 The combination of all the 3 axis and all
the parameters of different axis gives us
what kind of Innovation is being done