Diagnosing the current state and developing a strategy to enable a global healthcare company to more effectively invest in innovation
The AU/NZ market-unit of a UK-based global healthcare provider had made significant investments in a range of innovation initiatives over several years including startup investments and acquisitions, innovation training, and hackathon events. However, the leadership team were unsure what value this was delivering to the organisation and where to best allocate resources to find growth opportunities.
We utilised our innovation diagnostic to understand the current state of innovation, this included a detailed review of previous innovation strategies, audit of innovation investments, and an assessment of the capability and culture across all business and functional units.
We presented our diagnostic report to the executive team highlighting the fragmented state of innovation (i.e. many tactical initiatives with limited coordination or alignment to strategy) and the negative impact it was having on the culture. The leadership team accepted recommendations to develop a cohesive innovation strategy, set up a leadership innovation working group, establish an innovation management function, rebalance the innovation portfolio, and build a team of internal innovation coaches.