Development of an Audit Tool for Product Innovation: The Innovation Compass

This paper will present the development of an audit tool called the Innovation Compass. It will show how the tool was formulated through a research project, which was aiming to understand the innovation process within organisations. The creation of the Innovation Compass was driven by the research process and, as this paper will give an example of, validated through its application to case studies. The paper gives a greater understanding of the elements of the tool and, how it could be used and developed in other research projects considering innovation and New Product Development.