Process Innovation Checklist

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Process Innovation Checklist:

• Apply SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to see if your process is good enough. Research what innovative opportunities can eliminate weaknesses and protect the process against its worst threats;
• Study what is missing in your process design. Use innovative thinking to seek filling the gaps in the process schema – there can be some promising points where current underperformance can be resolved by adding new elements or controls to prevent waste of resources;
• Consider Process Reengineering. It is an attempt to reach tremendous rewards by rebuilding a business process from scratch (it means redesigning a process to obtain a manifold increase of productivity and other parameters). This method means implementing breakthrough innovations which still entail a high level of risks and uncertainty;
• Consider a way your business currently works. Probably the business mechanisms (that form up an actual background for the business processes) require some innovations to withdraw outdated strategies, workflows and principles;
• Seek coopetition: the areas of your business processes where you think you have no competitive advantages are great opportunities for building cooperation with your competitors for exploring these areas, sharing your costs and exchanging your experience;
• Set objectives you would like your process to reach: let’s say you wish it to become faster and to have a higher capacity. Take a flowchart of the process and move through it considering your opportunities on every step: what equipment and methods are used on each step, what can make certain steps and operations to be done faster (perhaps some innovative technology or tool);
• Research measurable indicators of the process operations in terms of resources consumed and worth produced from them: find out opportunities to improve process yield level with a help of innovative technologies and methods aiming to better coefficient of efficiency;
• Reaseach the processes of your best competitors and the best indsutrial practices other business owners employ. Consider what makes them better than yours and why you do not use the same methodologies, materials, tools, etc yet;
• Consider how your current processes work and consider some alternatives you have on every step (let’s say to optimize something or to switch to a better version of software). Reexamining your current approaches may lead to obtaining great innovative ideas which do not require any massive investments;
• Audit opinion of your employees and their managers. What they think is wrong or inconvenient in a way you organize your processes now? Attentively listen to their thoughts & research what solutions you can come up with to reduce their displeasure;
• Review all outputs that your process..

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