To refresh our innovation strategy and our processes, informed by stakeholder’s views, develop our approach to funding innovation during the next regulatory price control period (RIIO2) and consider new commercial models that reduce financial risk when developing new innovations.
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8.9 / 10
Our stakeholders scored us 8.9 out of 10 for overall satisfaction when asked to rate the workshop.
You told us you want us to improve the way we communicate about the full range of benefits delivered through our innovation.
We will hold an annual stakeholder innovation conference that showcases the work we have done throughout the year and the upcoming opportunities for collaboration. We’ll also extend our Innovation Think Tank to external stakeholders to help guide our programme on a more regular basis.
You shared some great insight into how our processes need to evolve to effectively deliver different scales of projects and establish accountability at the right levels to ensure alignment to business direction.
We have redesigned our internal innovation process so that it allows us to get the right ideas into the business, take managed risks, create ownership at the right levels and support innovation from early concept stage right through to embedding into business as usual activity to ensure that forecasted benefits are delivered.