Building the Innovation Business Case

The Innovation Business Case is essential to the success of new ideas, but it can be a challenging aspect of innovation due to imperfect information and uncertain returns. To reduce uncertainty and increase stakeholder commitment, a structured approach is needed. The examination involves four key 'health' indicators: strategic intent, environment, readiness, and critical processes. A systematic model is then used to build up the business case, including creativity tools, cost and benefit analysis, competition assessment, and defining success. This approach provides a consistency of approach and a clear transparent process to all cases across the organization.